Backstop Fees. Subject to Section 38, the Backstop Parties shall be entitled to the following fees: (i) The Initial Backstop Parties shall be entitled to: (a) Cash on the Implementation Date in an amount equal to 2.25% of the Initial Backstop Amount; plus (b) Cash on the Implementation Date in an amount equal to 1.0% of the Additional Backstop Amount. (ii) The Additional Backstop Parties shall be entitled to: (a) Cash on the Implementation Date in an amount equal to 2.25% of the Additional Backstop Amount.
Appears in 4 contracts
Samples: Backstop Loan Commitment Agreement (Tembec Industries Inc), Backstop Loan Commitment Agreement (Tembec Inc), Backstop Loan Commitment Agreement (Tembec Inc)
Backstop Fees. Subject to Section 38, the Backstop Parties shall be entitled to the following fees:
(i) The Initial Backstop Parties shall be entitled to:
(a) a. Cash on the Implementation Date in an amount equal to 2.25% of the Initial Backstop Amount; plus
(b) b. Cash on the Implementation Date in an amount equal to 1.0% of the Additional Backstop Amount.
(ii) The Additional Backstop Parties shall be entitled to:
(a) a. Cash on the Implementation Date in an amount equal to 2.25% of the Additional Backstop Amount.
Appears in 2 contracts
Samples: Support Agreement (Tembec Industries Inc), Support Agreement (Tembec Inc)
