Additional Backstop definition

Additional Backstop means the backstop provided by the Additional Backstop Parties for the Additional Backstop Amount.
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Additional Backstop means the backstop commitment to the New Loan provided by the Additional Backstop Parties for the Additional Backstop Amount.
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Examples of Additional Backstop in a sentence

  • The Participation Shortfall (if any) shall be funded pro rata by the Initial Backstop Parties and the Additional Backstop Parties based on the Initial Backstop Parties' and the Additional Backstop Parties' respective proportions of the sum of the Initial Backstop Amount and the Additional Backstop Amount.

  • The backstop agreements with the Additional Backstop Parties shall not be on terms more favourable to the Additional Backstop Parties than contained in the backstop agreements with the Initial Backstop Parties.

  • It is expressly understood that regardless of whether the Exercising Bondholder is an Additional Backstop Participant, the Initial Backstop Participants shall have the first option to purchase all of the Unallocated Trust Shares and if any of them elect to purchase the Unallocated Trust Shares, no Additional Participant (including any Additional Backstop Participant which may be the Exercising Bondholder) shall have any right to purchase the Unallocated Trust Shares.

  • Notes Claims (including the Initial Backstop Parties to the extent of Senior Notes Claims acquired after the date hereof) may elect to participate in the rights and obligations of the Backstop Parties set forth in this Agreement as an Additional Backstop Party (to the extent they meet the qualifications set forth in the definition of such term) until the date that is fifteen (15) Business Days following the date hereof.

  • As of the date of this Circular, Tembec has received commitments for substantially the complete amount of the Additional Backstop.

  • The number of New Common Shares (when issued) equal to (x) 5,000,000 times (y) a fraction, the numerator of which is the Initial Backstop Amount and the denominator of which is the New Loan Amount; • The Additional Backstop Parties shall be entitled to the number of New Common Shares (when issued) equal to (a) 5,000,000 times (b) a fraction, the numerator of which is the Additional Backstop Amount and the denominator of which is the New Loan Amount.

  • In addition, any holder of an Allowed Senior Note Claim who is an Eligible Holder shall have the right to become an Additional Backstop Participant (as defined in the Put/Call Agreement) with respect to the Put/Call Agreement in the manner described therein.

  • Backstop Fees Subject to the provisions described below under “Failure to Fund by Backstop Parties”, the Backstop Parties shall be entitled to the following fees from Tembec: • The Initial Backstop Parties shall be entitled to: (a) Cash on the Effective Date in an amount equal to 2.25% of the Initial Backstop Amount; plus (b) Cash on the Effective Date in an amount equal to 1.0% of the Additional Backstop Amount.

  • Upon the execution and delivery of a BCA Joinder and an RSA Joinder by any Additional Backstop Party within such fifteen (15) Business Day period, the Company shall promptly, and in any event within three (3) Business Days, provide notice thereof to each Backstop Party along with an amended Schedule 1 that restates the Backstop Commitment Percentage and the Holdback Commitment Percentage of all Backstop Parties, as determined in accordance with this Agreement.

  • In the event that an Additional Backstop Participant is the Exercising Bondholder pursuant to Section 3.01(b), such Additional Backstop Participant shall be obligated to purchase its Pro Rata Portion of the Trust Shares and shall also deliver a copy of the Call Exercise Notice to each Initial Backstop Participant and to each other Additional Backstop Participant concurrently with the delivery of the Call Exercise Notice to the Trustee.

Related to Additional Backstop

  • Backstop Agreement means that certain backstop commitment agreement by and among the Backstop Parties, Valaris, and the other Debtor parties thereto, as amended by that certain amended backstop commitment agreement, dated February 5, 2021, by and among the Backstop Parties, Valaris, and the other Debtor parties thereto, as may be further amended, supplemented, or modified from time to time, setting forth, among other things, the terms and conditions of the Rights Offering and the Backstop Commitments, attached as Exhibit 2 to the Restructuring Term Sheet.

  • Additional Lender Certificate has the meaning assigned to such term in Section 2.06(c)(ii)(F).

  • Additional Financing means the sale by the Company of additional Units as contemplated by the registration statement on Form SB-2 filed by the Company with the SEC on September 13, 2006, as amended from time to time thereafter.

  • Backstop Commitment Agreement means that certain Backstop Commitment Agreement, by and between CEOC and the PropCo Preferred Backstop Investors party thereto from time to time, as the same may be amended, amended and restated, supplemented, or otherwise modified from time to time in accordance with its terms, the form of which shall be included in the Plan Supplement.

  • Additional Credit Extension Amendment means an amendment to this Agreement providing for any New Term Loans which shall be consistent with the applicable provisions of this Agreement relating to New Term Loans otherwise satisfactory to the Agent and the Borrower.

  • Incremental Commitment Agreement means each Incremental Commitment Agreement in substantially the form of Exhibit P (appropriately completed, and with such modifications as may be reasonably satisfactory to the Administrative Agent) executed and delivered in accordance with Section 2.15.

  • Closing Date Term Loan Commitment means the commitment of each Lender to make Term Loans on the Closing Date hereunder in an aggregate principal amount not to exceed the amount set forth under the heading “Closing Date Term Loan Commitment” opposite its name in Schedule 2.01 hereto. The aggregate amount of the Closing Date Term Loan Commitments as of the Closing Date is $1,150,000,000.

  • Additional Lenders has the meaning assigned to such term in Section 2.18(b).

  • Additional Secured Parties means any Additional Agents and any Additional Creditors.

  • Additional Commitment means any commitment hereunder added pursuant to Sections 2.22, 2.23 or 9.02(c).

  • Incremental Term Loan Amendment has the meaning assigned to such term in Section 2.20.

  • Commitment Agreement means the written agreement that may be required at EDTI’s sole discretion between a Customer and EDTI whereby the Customer both authorizes the design and construction of new or expanded Facilities and agrees to pay all cancellation costs if the project is cancelled or if the Customer fails to sign an Electric Service Agreement prior to the energization of the new or expanded Facilities;

  • Additional Lender has the meaning set forth in Section 2.14(c).

  • Backstop Commitment has the meaning set forth in Section 2.2(b).

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Alternative Financing has the meaning set forth in Section 5.14(b).

  • Commitment Increase Supplement as defined in subsection 2.20(c).

  • Additional Senior Debt Facility means each indenture or other governing agreement with respect to any Additional Senior Debt.

  • Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.

  • Commitment Increase Notice has the meaning assigned to such term in Section 2.19.

  • Additional Commitment Lender shall have the meaning provided in Section 2.15(c).

  • Incremental Term Loan Assumption Agreement means an Incremental Term Loan Assumption Agreement in form and substance reasonably satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and one or more Incremental Term Lenders.

  • Incremental Lender means an Incremental Revolving Lender or an Incremental Term Lender.

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(i).

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Agent and the Borrower, among the Borrower, the Agent and one or more Incremental Lenders, establishing Incremental Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.18.

  • Additional First Lien Secured Parties means the holders of any Additional First Lien Obligations and any trustee, authorized representative or agent of such Additional First Lien Obligations.