RIGHTS OFFERING BACKSTOP COMMITMENT 23 Sample Clauses

RIGHTS OFFERING BACKSTOP COMMITMENT 23. The Rights Offering Backstop Commitment. 24 Section 2.3 Assignment & Designation of Commitment Rights 25 Section 2.4 Escrow Account Funding 27 Section 2.5 Senior Secured Commitment Party Default; Replacement of Defaulting Senior Secured Backstop Commitment Parties 29 Section 2.6 Convertible Commitment Party Default; Replacement of Defaulting Convertible Backstop Commitment Parties 30 Section 2.7 Closing 32 Section 2.8 Withholding 33 ARTICLE III BACKSTOP COMMITMENT CONSIDERATION AND EXPENSE REIMBURSEMENT 34 Section 3.1 Backstop Premium Payable by the Debtors 34 Section 3.2 Expense Reimbursement 36 Section 3.3 Tax Treatment of Backstop Premium 36 ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE DEBTORS 37 Section 4.1 Organization and Qualification 37 Section 4.2 Corporate Power and Authority 37 Section 4.3 Execution and Delivery; Enforceability 38 Section 4.4 Authorized and Issued Interests 38 Section 4.5 Issuance 39 Section 4.6 No Conflict 39 Section 4.7 Consents and Approvals 40 Section 4.8 Arm’s-Length 40 Section 4.9 Financial Statements 40 Section 4.10 Absence of Certain Changes 41 Section 4.11 No Violation; Compliance with Laws 41 Section 4.12 Legal Proceedings 41 Section 4.13 Labor Relations 41 Section 4.14 Intellectual Property 42 Section 4.15 Privacy and Data Protection 44 Section 4.16 Certain Aircraft Matters 44 Section 4.17 Real and Personal Property 45 Section 4.18 Licenses and Permits 46 Section 4.19 Environmental 46 Section 4.20 Taxes 47