Convertible Backstop Commitment Parties Clause Samples

Convertible Backstop Commitment Parties. On and subject to the terms and conditions hereof, including entry of the Backstop Order, each Convertible Backstop Commitment Party agrees, severally, and not jointly and severally, to purchase, and the Company agrees to issue to such Convertible Backstop Commitment Party, on the Closing Date at the Per Share Subscription Price, an aggregate number of Convertible Rights Offering Shares equal to (i) such Convertible Backstop Commitment Party’s Convertible Commitment Percentage multiplied by (ii) the aggregate number of Convertible Rights Offering Shares that Convertible Noteholders did not elect to purchase in the Rights Offering (the “Convertible Unsubscribed Shares”) as set forth on such Convertible Backstop Commitment Party’s Funding Notice pursuant to Section 2.4 (the aggregate purchase price of such Convertible Backstop Commitment Party’s Convertible Unsubscribed Shares, its “Convertible Commitment Amount” and such Convertible Unsubscribed Shares, such Convertible Backstop Commitment Party’s “Convertible Backstop Shares” and, such obligation to purchase Convertible Backstop Shares, such Convertible Backstop Commitment Party’s “