Backstop Lenders definition

Backstop Lenders means the Initial Lenders and the Secondary Lenders.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Backstop Lenders means the financial institutions (or any Affiliate, investment advisor, manager or beneficial owner for the account of such Person, or an affiliated fund or trade counterparty designated by such Person) listed on Schedule 2.12.

Backstop Lenders means those certain Lenders party to the Backstop Commitment Letter.

Examples of Backstop Lenders in a sentence

• The Solicitation Assignments may be consummated on the Final Order Funding Availability Date and the payment of the purchase prices by the Electing Noteholders to the applicable Backstop Lenders may be made through the Administrative Agent pursuant to a netting arrangement in connection with the funding of the initial Loans made in connection with the Final Order Funding Availability Date.

• Each such LC Lender further irrevocably authorizes the Authorized Agents to enter into and/or direct the Collateral Trustees to enter into, as applicable, such intercreditor arrangements as the applicable Authorized Agents shall reasonably deem necessary to subordinate such security interests of the Backstop Lenders in the collateral granted under the Cash Collateral Documents to the super-priority security interests of the LC Lenders in the ▇▇ ▇▇▇▇ Collateral Account and the amounts on deposit therein.

• The Upfront Premium shall be allocated among the Backstop Lenders as set forth in Schedule 1.1(c) (as such schedule may be amended, modified or supplemented from time to time in accordance with Section 13.1).

• The Additional Premium shall be allocated among the Backstop Lenders as set forth in Schedule 1.1(c) (as such schedule may be amended, modified or supplemented from time to time in accordance with Section 13.1).

• Each DIP Facility Backstop Lender shall fund no less than such DIP Facility Backstop Lender’s pro rata share (based on Total Credit Exposure, without regard to any Total Credit Exposure held by Lenders other than the DIP Facility Backstop Lenders) of 60% of the aggregate commitments under the DIP Facility.

More Definitions of Backstop Lenders

Backstop Lenders means the financial institutions (or any Affiliate, investment advisor, manager or beneficial owner for the account of such Person, or an affiliated fund or trade counterparty designated by such Person) listed on Schedule 2.5.2.

Backstop Lenders means those certain Noteholders who are members of the Ad Hoc Group of Noteholders and who executed and delivered the RSA and who hold Facility Amounts in the DIP Facility and any other Person to whom any Backstop Lender assigns its Facility Amount and Loans (other than in connection with any Solicitation Assignment) and who becomes a party hereto pursuant to an Assignment and Assumption and the RSA in accordance with the terms thereof.

Backstop Lenders means each of the Consenting Noteholders that are signatories to that certain commitment letter, agreed to and accepted by the Company on September 22, 2010 with respect to the DIP Credit Agreement.

Backstop Lenders means those Lenders identified on Schedule 2.01 hereto as “Backstop Lenders.”

Backstop Lenders means those certain Lenders party to the Backstop Commitment Letter. "Bankruptcy Code" has the meaning assigned to it in the recitals to the Agreement. "Bankruptcy Court" has the meaning assigned to it in the recitals to the Agreement.

Backstop Lenders has the meaning specified in Section 5.25.

Backstop Lenders means, collectively, the Backstop Tranche A Lenders and the Backstop Tranche B Lenders.