Effectuating the Backstop Commitment Clause Samples

Effectuating the Backstop Commitment. (i) Pursuant to the terms and subject to the conditions of this Agreement, if fewer than all of the Rights Offering Shares are subscribed for by the Rights Offering Participants under the Rights Offering, then the Backstop Parties will purchase from the Company, at the Exercise Price, the number of such Rights Offering Shares that are not subscribed for pursuant to the Rights Offering (the “Remaining Rights Offering Shares”). The obligation of the Backstop Parties to purchase the Remaining Rights Offering Shares are agreed to be joint and several. (ii) The closing of the purchase and sale of the Remaining Rights Offering Shares, if any, shall take place on the Effective Date.