Additional Backstop Parties means those Noteholders (or their affiliates) (i) who are designated by Tembec no later than January 31, 2008 (the "Additional Backstop Date") and (ii) who enter into support agreements with Tembec substantially similar to the Support Agreements.
Additional Backstop Parties means Eligible Qualifying Noteholders, other than the Initial Backstop Parties, who have become parties to the Backstop Commitment by the Additional Backstop Participation Deadline.
Additional Backstop Parties means the Persons permitted to join this Backstop Commitment Letter from time to time in accordance with Xxx xxxx 00 (x) xxxxxx . (x) “ Additional Subscription Amount ” means the subscription amount, expressed in dollars, obtained by subtracting (i) the Minimum Commitment Amount, by (ii) the aggregate amount of the Primary Commitments and the Secondary Commitments of the Backstop Parties ; provided that, if the Additional Subscription Amount as so determined would be less than zero, the Additional Subscription Amount will be deemed to be zero for the purposes of this Backstop Commitment Letter . (c) “ Additional Subscription Shares ” means the number of common shares of the Company issuable pursuant to the CBCA Plan, rounded down to the nearest whole number, obtained by dividing (i) the Additional Subscription Amount, by (ii) the Subscription Price . (d) “ Advisors ” means Torys LLP. (e) “ Affiliate ” of any Person shall mean any Person directly or indirectly controlling, controlled by, or under common control with, such Person ; provided, that, for the purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise . For greater certainty, an Affiliate of a Person shall include such Person’s investment funds and managed accounts and any funds managed or directed by the same investment advisor . (f) “ Alternative Implementation Process ” has the meaning set forth in the Support Agreement. (g) “ Backstop Commitment Allocation ” means, as to any Backstop Party, the backstop purchase commitment, expressed in dollars, of such Backstop Party as set forth on its signature page and on Schedule “C” hereto, as updated from time to time in accordance with the terms hereof . (h) “ Backstop Commitment Pro Rata Share ” means, as to any Backstop Party, the percentage, rounded to the nearest tenth of a percent, obtained by dividing (i) such Backstop Party’s Backstop Commitment Allocation, by (ii) US $ 00 , 000 , 000 . ( i) “ Business Day ” means each day, other than a Saturday or Sunday or a statutory or civic holiday, that banks are open for business in Toronto and New York. ( j) “ Canadian Dollars ” or “ C$ ” means the lawful money of Canada.
Examples of Additional Backstop Parties in a sentence
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.
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.
More Definitions of Additional Backstop Parties
Additional Backstop Parties means those Noteholders (or their affiliates) (a) who are designated by Tembec no later than January 31, 2008, (b) who enter into support agreements with Tembec substantially similar to the Support Agreements executed by each Noteholder Committee Member and (c) who enter into backstop agreements with the Company, Tembec Industries and TEI substantially similar to the backstop agreements entered into by the Initial Backstop Parties.
Additional Backstop Parties means those Second Lien Noteholders that execute a Backstop Joinder Agreement in accordance with the terms of the Backstop Commitment Letter, and their permitted assigns.