Senior Commitment Parties Clause Samples

Senior Commitment Parties. Total 100.0% $127,875,000 127,875,000 None. 1145 Eligible Holders should note the following times relating to the 1145 Rights Offering: Record Date………………………. [•], 2017 The date and time fixed by the Company forthe determination of the holders eligible toparticipate in the 1145 Rights Offering. Subscription Commencement Date .. [•], 2017 Commencement of the 1145 Rights Offering. Subscription Expiration Deadline … 4:00 p.m. Central Time on [•], 2017 The deadline for 1145 Eligible Holders to subscribe for 1145 Rights Offering Equity. An 1145 Eligible Holder’s applicable 1145 Beneficial Holder Subscription Form(s) (as defined below) must be received by the 1145 Eligible Holder’s Nominee (as defined below) in sufficient time to allow such Nominee to deliver the Master 1145 Subscription Form (as defined below) to the Rights Offering Subscription Agent by the Subscription Expiration Deadline. 1145 Eligible Holders who are not Backstop Parties must deliver the aggregate Purchase Price (as defined below) by the Subscription Expiration Deadline. 1145 Eligible Holders who are Backstop Parties must deliver the aggregate Purchase Price no later than the deadline specified in the Funding Notice (as defined below) in accordance with the terms of the Backstop Agreement. To 1145 Eligible Holders and Nominees of 1145 Eligible Holders: On February [24], 2017, the Debtors filed the Plan with the United States Bankruptcy Court for the Southern District of Texas and the Disclosure Statement Relating to the Joint Plan of Reorganization of Vanguard Natural Resources, LLC, et al., Pursuant to Chapter 11 of the Bankruptcy Code (as may be amended from time to time in accordance with its terms, the “Disclosure Statement”). Pursuant to the Plan, each holder of an Allowed Senior Notes Claim as of the Record Date (as defined in the 1145 Beneficial Holder Subscription Form) (each such holder, an “1145 Eligible Holder”) has a right to participate in the 1145 Rights Offering, in accordance with the terms and conditions of these 1145 Rights Offering Procedures. Pursuant to the Plan, in the 1145 Rights Offering, each 1145 Eligible Holder will receive rights to subscribe for its pro rata portion of a rights offering of 1145 Rights Offering Equity in an aggregate amount of $127,875,000 provided that it timely and properly executes and delivers the attached 1145 Beneficial Holder Subscription Form (with accompanying IRS Form W-9 or appropriate IRS Form W-8, as applicable) (the “1145 Beneficial ...