Defaulting Backstop Party definition

Defaulting Backstop Party means, at any time, any Backstop Party that caused a Backstop Party Default that is continuing at such time.
Sample 1Sample 2Sample 3
Defaulting Backstop Party means a Backstop Party that has failed to meet its obligations in respect of its Backstop Commitment on or before the Backstop Funding Deadline;
Sample 1Sample 2Sample 3
Defaulting Backstop Party means each Backstop Party that causes a Funding Default.
Sample 1Sample 2Sample 3

Examples of Defaulting Backstop Party in a sentence

  • Each Backstop Party may Transfer all or any portion of its Backstop Commitment to any other Backstop Party that is not a Defaulting Backstop Party.

  • The Backstop Premiums shall be payable in accordance with Section 2.5(b) and Section 3.2 hereof to the Backstop Parties (including any Replacement Backstop Party designated under Section 2.3(a) hereof, but excluding any Defaulting Backstop Party) or their designees at the time the payment of the Backstop Premiums is made.

  • For the avoidance of doubt, notwithstanding anything to the contrary set forth in Section 10.6 hereof, but subject to Section 11.10 hereof, no provision of this Agreement shall relieve any Defaulting Backstop Party from any liability hereunder, or limit the availability of the remedies set forth in Section 11.9 hereof, in connection with a Defaulting Backstop Party’s Backstop Party Default under this Article II or otherwise.

  • Notwithstanding anything in this Agreement to the contrary, if a Backstop Party or an Initial Backstop Party is a Defaulting Backstop Party, it shall not be entitled to any portion of the Backstop Premiums applicable solely to such Defaulting Backstop Party provided, or to be provided, under or in connection with this Agreement.

  • Termination by PG&E; Defaulting Backstop Party; Extension Options.


More Definitions of Defaulting Backstop Party

Defaulting Backstop Party has the meaning given to such term in Section 1.2(c) hereof.
Sample 1Sample 2Sample 3
Defaulting Backstop Party means each Backstop Party that causes a Funding Default. “Definitive Documents” has the meaning set forth in the RSA.
Sample 1
Defaulting Backstop Party means, at any time, in respect of a Backstop Party Default that is continuing at such time, the applicable defaulting Backstop Party.
Sample 1Sample 2Sample 3
Defaulting Backstop Party means the applicable defaulting Backstop Party in respect of a Backstop Party Default that iscontinuing.
Sample 1Sample 2Sample 3
Defaulting Backstop Party means any Backstop Party that (i) breaches this Backstop Commitment by failing to fund its commitments hereunder on the Closing Date, or (ii) denies or disaffirms its obligation to fund the Incremental New Money Term Loans in accordance with this Backstop Commitment Letter.
Sample 1Sample 2
Defaulting Backstop Party means any Backstop Party that fails to timely fund its Backstop Commitment (as defined in the Backstop Commitment Agreement) in accordance with the terms of the Backstop Commitment Agreement and the Rights Offering Documents.
Sample 1Sample 2
Defaulting Backstop Party means the applicable defaulting Backstop Party in respect of a Backstop Party Default that is continuing. “Definitive Documents” means, collectively, each of the documents set forth in S ections 7.1(n)(i) and 7 .1(n)(ii) of this Agreement. “Delaware LLC Act” has the meaning set forth in S ection 4.2(c).
Sample 1