BACKSTOP COMMITMENT PREMIUM AND EXPENSE Sample Clauses
The Backstop Commitment Premium and Expense clause defines the compensation and reimbursement terms for a party providing a backstop commitment in a financial or restructuring transaction. Typically, this clause specifies the premium amount or percentage paid to the backstop party for their commitment, as well as the types of expenses (such as legal or advisory fees) that will be reimbursed. Its core practical function is to incentivize and fairly compensate the backstop party for the financial risk and administrative burden they assume, ensuring their participation and support in the transaction.
BACKSTOP COMMITMENT PREMIUM AND EXPENSE. REIMBURSEMENT Section 3.1
BACKSTOP COMMITMENT PREMIUM AND EXPENSE. REIMBURSEMENT 27
BACKSTOP COMMITMENT PREMIUM AND EXPENSE. REIMBURSEMENT 22 Section 3.1 Premium Payable by the Company Parties 22 Section 3.2 Payment of Premium 22 Section 3.3 Expense Reimbursement. 23 Section 3.4 Tax Treatment 24 Section 3.5 Integration; Administrative Expense 24
BACKSTOP COMMITMENT PREMIUM AND EXPENSE. REIMBURSEMENT 21 Section 3.1 Premium Payable by the Company 21 Section 3.2 Payment of Premium 21 Section 3.3 Expense Reimbursement 22 ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY 22 Section 4.1 Organization and Qualification 23 Section 4.2 Corporate Power and Authority 23 Section 4.3 Execution and Delivery; Enforceability 24 Section 4.4 Authorized and Issued Capital Stock 24 Section 4.5 Issuance 25 Section 4.6 No Conflict 25 Section 4.7 Consents and Approvals 25 Section 4.8 Arm’s-Length 26 TABLE OF CONTENTS (cont’d) Page Section 4.9 Financial Statements 26 Section 4.10 Company SEC Documents and Disclosure Statement 26 Section 4.11 Absence of Certain Changes 27 Section 4.12 No Violation; Compliance with Laws 27 Section 4.13 Legal Proceedings 27 Section 4.14 Labor Relations 27 Section 4.15 Intellectual Property 27 Section 4.16 Title to Real and Personal Property 28 Section 4.17 No Undisclosed Relationships 28 Section 4.18 Licenses and Permits 29 Section 4.19 Environmental 29 Section 4.20 Tax Returns 30 Section 4.21 Employee Benefit Plans 30 Section 4.22 Internal Control Over Financial Reporting 31 Section 4.23 Disclosure Controls and Procedures 31 Section 4.24 Material Contracts 32 Section 4.25 No Unlawful Payments 32 Section 4.26 Compliance with Money Laundering Laws 32 Section 4.27 Compliance with Sanctions Laws 32 Section 4.28 No Broker’s Fees 33 Section 4.29 Takeover Statutes 33 Section 4.30 Investment Company Act 33 Section 4.31 Insurance 33 Section 4.32 Alternative Transactions 33 TABLE OF CONTENTS (cont’d) Page ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE COMMITMENT PARTIES 33 Section 5.1 Incorporation 33 Section 5.2 Corporate Power and Authority 33 Section 5.3 Execution and Delivery 34 Section 5.4 No Conflict 34 Section 5.5 Consents and Approvals 34 Section 5.6 No Registration 35 Section 5.7 Purchasing Intent 35 Section 5.8 Sophistication; Investigation 35