Remaining Rights definition
Examples of Remaining Rights in a sentence
The Plan Sponsors’ aggregate backstop commitment shall be 63.6% of the Remaining Rights Offering Amount (allocated equally between the Plan Sponsors).
The Additional Investors’ aggregate backstop commitment shall be 36.4% of the Remaining Rights Offering Amount (allocated pro rata based on their holdings common stock of ▇▇▇▇▇▇▇ as of January 1, 2021).
Executive hereby transfers, assigns, conveys, grants and sets over to the Company, and its successors and assigns, forever, and the Company hereby accepts, assumes and acquires from Executive for itself and its successors and assigns forever, all of Executive's right, title and interest in and to the Remaining Rights.
The Company shall promptly notify each of the Non-Defaulting Investors of the identities of all prospective Third Party Investors that the Company negotiates with regarding the purchase of any Remaining Rights Offering Shares, Direct Subscription Shares and/or Unsubscribed Shares.
Where there are sufficient Remaining Rights to satisfy all additional subscriptions by holders exercising their rights under the Additional Subscription Privilege, each holder shall be allotted the number of Additional Rights subscribed for.
Where there are sufficient Remaining Rights to satisfy all additional subscriptions by holders exercising their rights under the Additional Subscription Privilege, each holder shall be allotted the number of additional Ordinary Shares subscribed for.
For the avoidance of doubt, if the Non-Defaulting Investors object to any prospective Third Party Investors but do not elect to purchase (at the Purchase Price) the Remaining Rights Offering Shares, Direct Subscription Shares and/or Unsubscribed Shares that such Person is prepared to purchase, such Person shall not be precluded from becoming a Third Party Investor hereunder.
The obligation of the Backstop Parties to purchase the Remaining Rights Offering Shares are agreed to be joint and several.
No later than [ ] business days after the Voting Deadline, the Company shall deliver notice to the Backstop Parties and the Escrow Agent of: (A) the Backstop Parties’ obligation to purchase the Remaining Rights Offering Shares; and (B) the purchase price therefor equal to the number of Remaining Rights Offering Shares multiplied by the Exercise Price (the “Backstop Purchase Price”).
Subject to the terms, covenants and conditions hereof, at the Closing, the Company will sell to Holdings and Holdings will purchase from the Company a Bridge Note in the principal amount of $2,500,000 due on the earlier of December 31, 1997 or as such time as the Company shall have received the proceeds of the Rights Shares (as defined herein) and Holdings shall have purchased the Remaining Rights Shares (as defined herein) (the "Bridge Note").