Additional Seller Backstop Election definition
Additional Seller Backstop Election means, in the event that shareholder redemptions exceeds $462,500,000, the current equityholders of S1 Holdco and Protected will reduce the Closing Cash Consideration and proportionally increase the Closing Equity Consideration.
Additional Seller Backstop Election has the meaning specified in the Recitals hereto.
Additional Seller Backstop Election means, in the event that shareholder redemptions exceeds
Examples of Additional Seller Backstop Election in a sentence
The Available Cash Amount (x) shall not be less than $469,250,000 or (y) in the case that an Additional Seller Backstop Election has been made pursuant to Section 2.02(c), shall not be less than $417,500,000.
Within three Business Days of OpenMail’s receipt of the final report with respect to the Trebia Shareholder Redemption, to the extent that the Trebia Shareholder Redemption Value, if any, is greater than $462,500,000, the Redeemed OM Members, OpenMail and Protected shall notify Trebia of its election to implement the Additional Seller Backstop Election and will reflect such Additional Seller Backstop Election in the Allocation Schedule to be delivered pursuant to Section 4.04.