Failure to Fund Backstop Commitment Clause Samples
Failure to Fund Backstop Commitment. The Backstop Commitment Agreement shall provide that the Commitment Parties agree that any Commitment Party that fails to timely fund its Backstop Commitment (a “Defaulting Commitment Party”) will be liable for the consequences of its breach and that the parties to the Backstop Commitment Agreement can enforce rights of damages and/or specific performance upon the failure to timely fund by the Defaulting Commitment Party.
Failure to Fund Backstop Commitment. The Backstop Commitment Agreement shall provide that the Investors agree that any Investor that fails to timely fund its Backstop Commitment (a “Defaulting Investor”) will be liable for the consequences of its breach and that the parties to the Backstop Commitment Agreement can enforce rights of damages and/or specific performance upon the failure to timely fund by the Defaulting Investor.