JPM Backstop definition

JPM Backstop means the commitment by JPM to advance the New Loan Amount (U.S.$264,500,000 in the case of JPM NA and U.S.$35,500,000 in the case of JPM SI), subject to certain conditions, as set out in the JPM Commitment Agreements;
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Examples of JPM Backstop in a sentence

  • In consideration for providing the JPM Backstop, JPM shall be entitled to a backstop fee of US$3,000,000, which shall be earned on the JPM Backstop Date and paid in full on January 2, 2008.

  • Tembec shall pay forthwith reasonable Transaction Expenses incurred through to the JPM Backstop Date and, on a monthly basis thereafter, pay Transaction Expenses incurred from the JPM Backstop Date through to the earlier of (i) 30 days following the Implementation Date or (ii) the JPM Backstop Termination Date.

  • Upon the occurrence of the JPM Backstop Termination Date, all of JPM’s rights and interests in and to the Backstop Participation Agreement, with respect to the obligations of any Initial Backstop Party that elects to become a Continuing Backstop Party, shall be assigned upon the terms and conditions set forth in Section 39 of the Term Sheet.

  • For the purposes of this Agreement, the -------------------- term "Option" as used herein shall refer to each Nonstatutory Stock Option awarded to Grantee under Section 6 of the Plan and covered by this Agreement, as listed on Schedule 1 attached hereto.

  • Tembec shall pay forthwith reasonable Transaction Expenses incurred through to the JPMSI Backstop Date and, on a monthly basis thereafter, pay Transaction Expenses incurred from the JPMSI Backstop Date through to the earlier of (i) 30 days following the Implementation Date or (ii) the JPM Backstop Termination Date.

Related to JPM Backstop

  • Backstop Agreement means that certain backstop commitment agreement by and among the Backstop Parties, Valaris, and the other Debtor parties thereto, as amended by that certain amended backstop commitment agreement, dated February 5, 2021, by and among the Backstop Parties, Valaris, and the other Debtor parties thereto, as may be further amended, supplemented, or modified from time to time, setting forth, among other things, the terms and conditions of the Rights Offering and the Backstop Commitments, attached as Exhibit 2 to the Restructuring Term Sheet.

  • Backstop Commitment has the meaning set forth in Section 2.2(b).

  • Backstop Commitment Agreement means that certain Backstop Commitment Agreement, by and between CEOC and the PropCo Preferred Backstop Investors party thereto from time to time, as the same may be amended, amended and restated, supplemented, or otherwise modified from time to time in accordance with its terms, the form of which shall be included in the Plan Supplement.

  • Backstop Parties means, collectively, the Initial Backstop Parties and the Additional Backstop Parties.

  • Debt Commitment Letters shall have the meaning set forth in Section 5.7(a).