Recapitalization of TTSI. (a) Upon the terms and subject to the conditions set forth in this Agreement, the parties agree that following the execution of this Agreement and immediately prior to Closing, among other things, Buyer will use commercially reasonable best efforts to assist TTSI in obtaining debt financing in an aggregate amount of not less than $155,000,000, together with a revolving credit facility in the amount of $20,000,000, in the manner contemplated by the Commitment Letters or on other terms reasonably acceptable to Buyer, the proceeds of which will be used to consummate the Redemptions and to pay off the promissory notes contemplated by Section 2.01(g). (b) Buyer may elect at its option to pursue an alternative financing structure, provided that such structure does not result in any incremental increase in costs to TTSI.
Appears in 4 contracts
Samples: Reorganization, Recapitalization and Stock Purchase Agreement (Black & Decker Corp), Reorganization, Recapitalization and Stock Purchase Agreement (True Temper Sports Inc), Reorganization, Recapitalization and Stock Purchase Agreement (True Temper Sports Inc)
