Backstop Commitment Premium Share Amount definition
Backstop Commitment Premium Share Amount means, with respect to an Equity Commitment Party, the number of shares of New Common Stock equal to the product of (i) such Equity Commitment Party’s Backstop Commitment Percentage and (ii) the number of shares of New Common Stock issued on account of the Backstop Commitment Premium pursuant to Section 3.2 hereof.
Backstop Commitment Premium Share Amount means, with respect to a Backstop Party, the number of shares of New Common Equity equal to the product of (i) such Backstop Party’s Backstop Commitment Percentage and (ii) the number of shares of New Common Equity issued on account of the Backstop Commitment Premium pursuant to Section 3.2 hereof; provided, however, that Azurite’s Backstop Commitment Premium Share Amount shall be as set forth in Section 3.2(b).
Backstop Commitment Premium Share Amount means, with respect to a Commitment Party, the number of shares of New Common Stock equal to the product of (i) such Commitment Party's Backstop Commitment Percentage and (ii) the number of shares of New Common Stock issued on account of the Backstop Commitment Premium pursuant to Section 3.2, which, for all Commitment Parties, shall equal 403,846 shares (representing 2.72%) of New Common Stock outstanding as of the Effective Date, subject to dilution from the Management Incentive Plan, with an aggregate value of $4,038,460.
Examples of Backstop Commitment Premium Share Amount in a sentence
The Debtors shall have paid (or such amounts shall be paid concurrently with the Closing) to each Equity Commitment Party its Backstop Commitment Premium Share Amount as set forth in Section 3.2.
The Company Parties shall have paid (or such amounts shall be paid concurrently with the Closing) to each Backstop Party its Backstop Commitment Premium Share Amount as set forth in Section 3.2.
The Debtors shall have paid (or such amounts shall be paid concurrently with the Closing) to each Commitment Party the applicable Backstop Commitment Premium (including the Backstop Commitment Premium Share Amount and the Backstop Commitment Premium Notes Amount) as set forth in Section 3.2.
More Definitions of Backstop Commitment Premium Share Amount
Backstop Commitment Premium Share Amount means, with respect to a Commitment Party, the number of shares of New Common Stock equal to the product of (i) such Commitment Party’s Backstop Commitment Percentage and (ii) the number of shares of New Common Stock issued on account of the Backstop Commitment Premium pursuant to Section 3.2, which, for all Commitment Parties, shall equal 403,846 shares (representing 2.72%) of New Common Stock outstanding as of the Effective Date, subject to dilution from the Management Incentive Plan, with an aggregate value of $4,038,460.
Backstop Commitment Premium Share Amount means, with respect to an Equity Commitment Party, the number of shares of Reorganized Enviva Inc. Interests equal to the product of (i) such Equity Commitment Party’s Backstop Commitment Percentage and (ii) the number of shares of Reorganized Enviva Inc. Interests issued on account of the Backstop Commitment Premium pursuant to Section 3.2 hereof.
Backstop Commitment Premium Share Amount means, with respect to a Backstop Party, the number of shares of New Common Equity equal to the product of (i) such Backstop Party’s Backstop Commitment Percentage and (ii) the number of shares of New Common Equity issued on account of the Backstop Commitment Premium pursuant to Section 3.2 hereof. “Backstop Commitment Termination Premium” means a nonrefundable aggregate premium in an amount equal to 10% of the dollar value of the Backstop Commitment (or, $6 million ($6,000,000.00)) payable in Cash which shall be payable only upon the occurrence of a Backstop Termination Premium Payment Event. “Backstop Commitment Premium” has the meaning set forth in Section 3.1. “Backstop Order” means the order entered by the Bankruptcy Court approving and authorizing the Debtors’ entry into this Agreement and other Rights Offering Documents, including the Debtors’ obligation to pay the Backstop Commitment Premium, which shall be in form and substance acceptable to the Company Parties and the Required Backstop Parties. “Backstop Party” means each member of the Ad Hoc Committee of Noteholders or other Person that holds a Funding Commitment pursuant to this Agreement, including without limitation, any holder of a Funding Commitment that is a Related Purchaser, Existing Commitment Party Purchaser or a New Purchaser that has joined this Agreement pursuant to a joinder entered into pursuant to Section 2.6(b), Section 2.6(c), or Section 2.6(d), respectively. “Backstop Party Default” means a breach of this Agreement arising if any Backstop Party (x) fails to (i) fully exercise all its Backstop Party Rights pursuant to and in accordance with Section 2.2(a) and Section 2.4 of this Agreement and to pay the applicable aggregate Purchase Price for such Subscription Shares or (ii) deliver and pay the applicable aggregate Purchase Price for such Backstop Party’s Backstop Commitment Percentage of any Unsubscribed Shares by the Subscription Escrow Funding Date in accordance with Section 2.4, (y) denies or disaffirms such Backstop Party’s obligations pursuant to this Agreement or (z) materially breaches or ceases to be party to the RSA. “Backstop Party Replacement” has the meaning set forth in Section 2.3(a). “Backstop Party Replacement Period” has the meaning set forth in Section 2.3(a). “Backstop Party Rights” means those certain rights of the Backstop Parties to purchase the Subscription Shares at the applicable Purchase Price in accordance with the Rights Offering Procedures, which N...
Backstop Commitment Premium Share Amount means, with respect to an Equity Commitment Party, the number of shares of New Common Stock equal to the product of