Backstop Commitment Premium definition

Backstop Commitment Premium means a commitment premium equal to 634.6 basis points on the total amount of Backstop Commitment Amount. If and when any portion of the Backstop Commitment Premium is earned in accordance with the foregoing provisions of this Exhibit A, it shall be calculated by reference to the Backstop Commitment Amount immediately after the Allocation Date and shall not be subject to reduction based upon any subsequent reduction of the Backstop Commitment Amount or termination of this Backstop Commitment Letter, other than termination pursuant to Section 6(c) or 6(d) of this Backstop Commitment Letter.

Backstop Commitment Premium means the dollar amount equal to twenty-percent (20%) of the aggregate Backstop Commitments to be paid to the Backstop Parties on the Effective Date in the form of New Common Interests, pursuant to the terms and conditions in this Plan and the Backstop Commitment Letter.

Backstop Commitment Premium has the meaning set forth in Section 3.1.

Examples of Backstop Commitment Premium in a sentence

• The issuance of the Backstop Commitment Premium payable in the form of Parent Participating Preferred Stock will be exempt from the registration requirements of the securities laws pursuant to Section 4(a)(2) and/or Regulation D of the Securities Act, or another available exemption from registration.

• All premiums and other amounts, including the Backstop Commitment Premium and the Transaction Expenses, required to be paid or reimbursed by the Debtors to the Commitment Parties as of the Effective Date shall have been so paid or reimbursed (or shall be paid concurrently with the occurrence of the Effective Date).

• It is hereby agreed that the relative benefits to the Indemnifying Person, on the one hand, and all Indemnified Persons, on the other hand, shall be deemed to be in the same proportion as (i) the total value rec eived or proposed to be received by the Company pursuant to the issuance and sale of the New Equity Interests in the Rights Offering contemplated by this Agreement and the Plan, bears to (ii) the Backstop Commitment Premium paid or proposed to be paid to the Commitment Parties.

• Notwithstanding anything to the contrary in this Agreement, no amendment that reduces or otherwise modifies the Backstop Commitment Premium, Purchase Price, or increases a Backstop Party’s Backstop Obligation or any other funding or financial obligation of any Backstop Party shall be effective against any Backstop Party without such Backstop Party’s prior written consent.

• The issuance of the Backstop Commitment Premium payable in the form of Parent Participating Preferred Stock will be exempt from the registration requirements of the securities laws purs uant to Section 4(a)(2) and/or Regulation D of the Securities Act, or another available exemption from registration.

More Definitions of Backstop Commitment Premium

Backstop Commitment Premium means the “Commitment Premium” under, and as defined by, the Backstop Commitment Agreement, as approved by the applicable Rights Offerings Procedures Order, which shall take the form of New Class A Shares.

Backstop Commitment Premium means (a) in the event of the purchase of New Common Shares by any Backstop Party in accordance with this Agreement, 6.00% of such Backstop Party’s Backstop Commitment, payable in the form of New Common Shares issued at the Per Share Price, and (b) in the event this Agreement is terminated by the Required Backstop Parties under Section 8.10.4, 6.00% of such Backstop Party’s Backstop Commitment, payable in full in cash.

Backstop Commitment Premium means either the Backstop Commitment Cash Premium or the Backstop Commitment Share Premium, as the case may be.

Backstop Commitment Premium means a commitment premium equal to 12.5% of the Aggregate Rights Offering Amount, payable to the Equity Commitment Parties in shares of New Common Stock issued on the Effective Date at the ERO Price Per Share, in accordance with the Backstop Commitment Agreement; provided that, in the event the Equity Rights Offering is not consummated, the Backstop Commitment Premium shall be payable in cash to the extent provided in the Backstop Commitment Agreement.

Backstop Commitment Premium means (a) if the Backstop Party delivered its Backstop Commitment Letter to the Company on or before December 20, 2019 at 6:00 p.m. Pacific, an amount equal to 636.4 basis points on the total amount of Backstop Commitment Amount immediately after the Allocation Date plus a pro rata share (based on Aggregate Backstop Commitments provided to the Company on or before December 20, 2019 at 6:00 p.m. Pacific) of the Additional Premium; or (b) if the Backstop Party delivered its Backstop Commitment Letter to the Company after December 20, 2019 at 6:00 p.m. Pacific but on or before December 24, 2019 at 5:00 p.m. Eastern, an amount equal to 424.3 basis points on the total amount of Backstop Commitment Amount immediately after the Allocation Date. The Backstop Commitment Premium shall not be subject to reduction based upon any subsequent reduction of the Backstop Commitment Amount, provided, that in the event of a Premium Clawback Event or a Special Premium Clawback Event, the Backstop Commitment Premium shall be reduced by the Applicable Premium Reduction Percentage.

Backstop Commitment Premium means (a) in the event of the purchase of New Convertible Preferred Stock by any Backstop Party, 10% of the aggregate amount of such Backstop Party’s Backstop Commitment and Subscription Price, payable in the form of New Convertible Preferred Stock issued at the Per Share Price, and (b) in the event this Agreement is terminated by the Required Backstop Parties under Section 8.10.4, 10% of the aggregate amount of such Backstop Party’s Backstop Commitment and Subscription Price, payable in full in cash.

Backstop Commitment Premium means the nonrefundable commitment premium payable to the Backstop Parties in an amount equal to 9% of each Backstop Party’s Backstop Cap, which shall be payable in New Common Shares or cash pursuant to the terms and conditions as set forth in the Backstop Commitment Agreement.