Requisite Backstop Parties definition

Requisite Backstop Parties means the Backstop Parties holding at least a majority of the aggregate Backstop Commitments, as of the date on which the consent or approval is solicited; provided, however, that the votes and commitments of any Defaulting Backstop Party shall be excluded from the calculation of Backstop Commitment Percentages for purposes of this definition.

Requisite Backstop Parties means, as of any date of determination, the Non- Defaulting Backstop Parties that are Specified Backstop Parties whose aggregate Backstop Commitments constitute more than 66-2/3% of the aggregate Backstop Commitments of all Non- Defaulting Backstop Parties that are Specified Backstop Parties as of such date. Prior to the effectiveness of the Backstop Purchase Agreement, for purposes of determining the Backstop Commitments of the Specified Backstop Parties, the Backstop Commitment Percentage of each Specified Backstop Party shall be set forth opposite the name of the Affiliates of such Specified Backstop Party on Schedule 2 attached hereto. After the effectiveness of the Backstop Purchase Agreement, for purposes of determining the Backstop Commitments of the Specified Backstop Parties, the Backstop Commitment Percentage of each Specified Backstop Party shall be set forth in, or as determined by, the Backstop Purchase Agreement.

Requisite Backstop Parties means, collectively, the Initial Backstop Parties (excluding any Defaulting Backstop Parties) holding at least 50.01% of the aggregate Backstop Commitment Percentages of the Initial Backstop Parties (excluding any Defaulting Backstop Parties); provided that for purposes of this definition, each such Initial Backstop Party shall be deemed to hold the Backstop Commitment Percentages held by such Initial Backstop Party’s Related Purchasers.

Examples of Requisite Backstop Parties in a sentence

• The found offset and slope of o = 0.62 and s = 0.09 are used to transform the nSec results from Figure 2 into the results seen in Figure 3.

• In addition, the parties may agree upon other customary covenants reasonably satisfactory to the Debtors and the Requisite Backstop Parties.

• Subject to the foregoing, the Debtors, with the consent of the Requisite Backstop Parties, may waive or reject any defect or irregularity in, or permit such defect or irregularity to be corrected within such time as they may determine in good faith, the purported exercise of any Subscription Rights.

• Subscriptions will be deemed not to have been received or accepted until all irregularities have been waived or cured within such time as the Debtors determine in good faith in consultation with the Requisite Backstop Parties.

• No executory contract or unexpired lease shall be assumed or rejected without the written consent of the Required Consenting Creditors and the Requisite Backstop Parties.

More Definitions of Requisite Backstop Parties

Requisite Backstop Parties means each of (i) the Group A Backstop Parties holding, in the aggregate, at least three-quarters of the aggregate Backstop Commitment Percentages for the Group A Backstop Allocation of all Group A Backstop Parties and (ii) the Group B Backstop Parties holding, in the aggregate, at least three-quarters of the aggregate Backstop Commitment Percentages for the Group B Backstop Allocation of all Group B Backstop Parties, in each case, as of the date on which the consent or approval of such members is solicited.

Requisite Backstop Parties means the holders of a majority of the commitments under the Backstop Commitment Letter.

Requisite Backstop Parties has the meaning set forth in the Backstop Commitment Agreement.

Requisite Backstop Parties means, as of any time of determination, (a) Priority Backstop Parties holding at least 50.01% of the aggregate Priority Backstop Commitment Percentages of all Priority Backstop Parties, and (b) Backstop Parties holding at least 50.01% of the aggregate Backstop Commitment Percentages of all Backstop Parties.

Requisite Backstop Parties has the meaning set forth in the Restructuring Support Agreement.

Requisite Backstop Parties means, as of any time of determination, (a) Non-Defaulting Backstop Parties as of such time that are Priority Backstop Parties whose aggregate Priority Backstop Commitment Percentages constitute more than 50.0% of the aggregate Priority Backstop Commitment Percentages of all Non-Defaulting Backstop Parties as of such time that are Priority Backstop Parties, and (b) Non-Defaulting Backstop Parties as of such time whose aggregate Backstop Commitment Percentages constitute more than 50.0% of the aggregate Backstop Commitment Percentages of all Non-Defaulting Backstop Parties as of such time.

Requisite Backstop Parties means each of Xxxxxxxx and Capital Group.