Backstop Amount definition

Backstop Amount has the meaning set forth in Section 2.4(a)(iv).

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Backstop Amount means $23,199,785.

Backstop Amount means $3,845,030.

Examples of Backstop Amount in a sentence

• Subject to and in accordance with the terms and conditions set forth herein, upon Company’s exercise of its right to call the Backstop Amount set forth in Section 2.3, the Backstopper irrevocably commits to purchase, at the Closing, up to a number of shares of Convertible Preferred Stock (and accompanying Warrants) determined by dividing (i) the Backstop Amount by (ii) the Purchase Price (the “Commitment”).

• The Company shall have the right, exercisable in its sole discretion, to require the Backstopper or an Affiliate thereof, if designated by the Backstopper, to deliver to the Company at Closing an amount equal to the Backstop Percentage multiplied by the Required Backstop Amount, by delivering written notice of the decision to exercise such right to the Backstopper no less than three (3) Business Days prior to the Closing.

• 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.

• Each Backstop Party who has advanced its Final Backstop Amount to the Agent of the New Money Facility and complete all “know-your-customer” requirements of the Agent of the New Money Facility by the deadlines set out in the Explanatory Statement shall be paid a Backstop Fee.

• Backstop Each Backstop Party shall advance its Final Backstop Amount to the Agent of the New Money Facility and complete all “know-your-customer” requirements of the Agent of the New Money Facility by the deadlines set out in the Explanatory Statement.

More Definitions of Backstop Amount

Backstop Amount means $7,955,185.

Backstop Amount means, with respect to any Consenting Noteholder, a dollar amount (rounded down to the nearest $1,000) equal to (x) such Consenting Holder’s Backstop Percentage times (y) the Aggregate Backstop Amount.”

Backstop Amount means up to $125,000,000 in proceeds from the sale by the SPAC to the Backstop Party of up to 12,500,000 New SPAC Class A Common Shares at a price per share equal to $10.00 immediately prior to (and contingent upon) the Closing, contingent upon the terms of and subject to the conditions set forth in the Backstop Agreement.

Backstop Amount means the amount calculated as follows: Total Subscription minus the sum of (i) the Basic Subscription Amount and (ii) the Over-Subscription Amount, which such aggregate dollar amount will be finally-determined by the Company and the Subscription Agent, as described in Section 1.

Backstop Amount means the aggregate principal amount of Company Convertible Note(s) purchased by the Investors (as defined in the Backstop Agreement) pursuant to the Backstop Agreement.

Backstop Amount means a number, expressed in dollars, equal to the Backstop Commitment, as may be adjusted upon the Company’s and the Subscription Agent’s final determination, as described in Section 1.

Backstop Amount means $100.0 million in the aggregate.