Backstop Commitment Parties definition

Backstop Commitment Parties means at any time and from time to time, the parties that have committed to backstop the Rights Offering and are signatories to the Backstop Commitment Agreement, solely in their capacities as such, to the extent provided in the Backstop Commitment Agreement.

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Backstop Commitment Parties means, at any time or from time to time, the Priority Guaranteed Noteholders and Legacy Noteholders that have committed to fund the Rights Offering and are signatories to the Backstop Commitment Agreement, solely in their capacities as such, including their respective permitted transferees, successors and assigns, all in accordance with the Backstop Commitment Agreement.

Backstop Commitment Parties means at any time and from time to time, the parties that have committed to backstop the Rights Offering and are signatories to the Backstop Commitment Agreement.

Examples of Backstop Commitment Parties in a sentence

This notice is given in accordance with the requirements of the PATRIOT Act and is effective for Backstop Commitment Parties and its affiliates.
The Backstop Commitments are several, not joint, obligations of the Backstop Commitment Parties, such that no Backstop Commitment Party shall be liable or otherwise responsible for the Backstop Commitment of any other Backstop Commitment Party.
This offer will automatically expire at such time if the Backstop Commitment Parties have not received such executed counterparts in accordance with the preceding sentence.
The Debtors agree to pay the fees, costs and expenses (collectively, the “Fronting Expenses”) incurred in connection with the initial funding of the New Money DIP Loans by the Fronting Lender(s) and any assignments made by such Fronting Lender(s) to the Backstop Commitment Parties in connection therewith; provided that such Fronting Expenses shall not exceed 0.50% of such Fronting Lender(s)’ New Money DIP Loans so funded.
This Backstop Commitment Letter may not be amended or any provision hereof waived or modified except by an instrument in writing signed by the Backstop Commitment Parties and you.

More Definitions of Backstop Commitment Parties

Backstop Commitment Parties means ▇▇▇▇▇▇▇ Watsa Investment Counsel Ltd. and its Affiliates (including Fairfax Financial Holdings Limited), ESAS, OCM EXCO Holdings LLC and Gen IV and, in each case, their respective Affiliates (excluding, in each case, the Company and its Subsidiaries) and any arranger, representative or agent appointed by such parties to act on their behalf in their collective capacity as the Backstop Commitment Parties under this Agreement and the other Loan Documents.

Backstop Commitment Parties has the meaning set forth in the recitals.

Backstop Commitment Parties has the meaning set forth in the preamble.

Backstop Commitment Parties will backstop 100% of the Rights Offering pursuant to those certain backstop commitment agreements, entered into and dated as of December 12, 2018, attached to the Restructuring Support Agreement as Exhibit C, pursuant to which the Backstop Commitment Parties have agreed to backstop the Rights Offering (the “Backstop Commitment Agreement”). The Backstop Commitment Parties shall receive a premium equal to 3.3539% of the New Common Stock issued and outstanding on the Effective Date (the “Put Option Equity Premium”) payable in the form of New Common Stock, at the same discounted purchase price as the Rights Offering, allocated to the Backstop Commitment Parties in proportion to their committed individual backstop (or in cash under certain circumstances, as set forth in the Backstop Commitment Agreement), and to be issued pursuant to section 1145 of the Bankruptcy Code or another available exemption under the Securities Act (with the consent of the Required Consenting Stakeholders, not to be unreasonably withheld). Assuming that Class 10 Existing Common Stock votes to accept the Plan, the fully diluted post-closing New Common Stock on the Effective Date shall be held as the following: Source of New Common Stock Percentage of post-closing New Common Stock on a fully-diluted basis2 Rights Offering 41.9241% Put Option Equity Premium 3.3539% Converted 2020 Notes 18.7932% Converted 2022 Notes 34.4239% Existing Preferred Stock 0.6019% Existing Common Stock 0.9029%

Backstop Commitment Parties has the meaning set forth in the Backstop Commitment Agreement.

Backstop Commitment Parties means at any time and from time to time, the parties that have committed to backstop the Rights Offering.

Backstop Commitment Parties means the Rights Offering Commitment Parties that are parties to the Rights Offering Commitment Agreement as of the relevant determination date who have also agreed to fund their Backstop Subscription Amount in accordance with the terms of the Rights Offering Commitment Agreement.