Backstop Letter definition

Backstop Letter means that certain Backstop Investment Commitment Letter, dated December 29, 2016, and entered into by (a) SXE, (b) Southcross Holdings, (c) Xxxxx Xxxxx Xxxx, X.X., (x) (x) XX Xxxxxxxxxx XX, XX BBTS Aggregator LP, TW Southcross Sidecar II LP, TW Southcross Sidecar II (N-QP) LP, EIG BBTS Holdings, LLC, EIG Energy XV (BBTS) Blocker, LLC, EIG Energy Fund XV Holdings, LP, EIG Energy Fund XV Cayman Blocker, LP, EIG Energy Fund XV (Cayman), L.P., EIG Energy Fund XV-B, L.P., EIG Energy Fund XV-A, L.P., EIG Energy Fund XV, L.P., EIG Energy XIV Blocker (BBTS), LLC, EIG Energy Fund XIV (Cayman), L.P., EIG Energy Fund XIV-B, L.P., EIG Energy Fund XIV-A, L.P. and EIG Energy Fund XIV, L.P., as may be amended from time to time.
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Backstop Letter means that certain Backstop Investment Commitment Letter, dated December 29, 2016, and entered into by (a) SXE, (b) Southcross Holdings, (c) Wells Fargo Bank, N.A., (d) (i) TW Aggregator LP, TW BBTS Aggregator LP, TW Southcross Sidecar II LP, TW Southcross Sidecar II (N-QP) LP, EIG BBTS Holdings, LLC, EIG Energy XV (BBTS) Blocker, LLC, EIG Energy Fund XV Holdings, LP, EIG Energy Fund XV Cayman Blocker, LP, EIG Energy Fund XV (Cayman), L.P., EIG Energy Fund XV-B, L.P., EIG Energy Fund XV-A, L.P., EIG Energy Fund XV, L.P., EIG Energy XIV Blocker (BBTS), LLC, EIG Energy Fund XIV (Cayman), L.P., EIG Energy Fund XIV-B, L.P., EIG Energy Fund XIV-A, L.P. and EIG Energy Fund XIV, L.P., as may be amended from time to time.
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Examples of Backstop Letter in a sentence

  • The Borrower agrees that upon the coming due of any such Post-Term Letter of Credit Obligations, the applicable Issuing Bank may use such Post-Term Cash Collateral or disbursement of such Post-Term Backstop Letter of Credit to pay and satisfy such Post-Term Letter of Credit Obligations.

  • As each outstanding Post-Term Letter of Credit expires, the applicable Issuing Bank agrees to promptly return to the Borrower the unused Post-Term Cash Collateral corresponding to such expired Post-Term Letter of Credit or the undrawn Post-Term Backstop Letter of Credit.

  • Such deemed value is equal to the amount that will be drawn by DOE on the Cobra Backstop Letter of Credit pursuant to Section 5.3 of this Plan less the $100 million term loan component of the Exit Credit Facility.

  • At any time following the Closing, Buyer shall have the right to draw on any Backstop Letter of Credit delivered by any Seller, if any, in such amounts as are payable to any Buyer Indemnified Party under the terms of this Article 12 with respect to any Buyer Claims.

  • On the Effective Date, DOE, as the holder of the Allowed Prepetition Note Claims, shall receive, subject to the terms of the Plan, in full and final satisfaction, settlement, release and discharge of its Allowed Prepetition Note Claims, (a) $200 million in Cash (which shall be satisfied by DOE by a draw on the Cobra Backstop Letter of Credit) and (b) all rights and obligations under the Exit Contingent Note.

  • This Section shall not be construed to impose an obligation upon the Issuing Bank to issue any Backstop Letter of Credit that is inconsistent with the terms and conditions of this Agreement.

  • Upon Purchaser’s or its Affiliate’s performance of the Final Decommissioning for a Lease, Sellers shall release the BOEM Bond and, if applicable, any Backstop Letter of Credit for such Lease only if (i) Sellers and BSEE confirm the Final Decommissioning for the Lease is completed; (ii) BOEM agrees to release the BOEM Bond for the Lease; and (iii) Purchaser requests in writing Sellers’ release of the BOEM Bond, and/or Backstop Letter of Credit for the Lease.

  • Each Backstop Letter of Credit shall expire at the close of business on the date that is five (5) Business Days prior to the Backstop LC Maturity Date.

  • For purposes of clarity, and without limiting the foregoing, to the extent that a Backstop Letter of Credit is issued in respect of a BOEM Bond that no longer meets the definition thereof, such Letter of Credit may be replaced by one or more BOEM Bonds, and to the extent that a Backstop Letter of Credit is issued in respect of a Seller Bond that no longer meets the definition thereof, such Letter of Credit may be replaced by one or more Seller Bonds, in each case, subject to Section 7.4(b).

  • If the Borrower fails to make any payment due under this paragraph (e) with respect to a Backstop Letter of Credit as contemplated by the preceding sentence, the Backstop LC Lenders shall reimburse the Issuing Bank in an aggregate amount equal to such Backstop LC Disbursement as contemplated in Section 2.02(f).

Related to Backstop Letter

  • Backstop Agreement has the meaning set forth in the recitals to this Agreement.

  • Backstop Commitment Agreement means that certain Backstop Commitment Agreement, by and between CEOC and the PropCo Preferred Backstop Investors party thereto from time to time, as the same may be amended, amended and restated, supplemented, or otherwise modified from time to time in accordance with its terms, the form of which shall be included in the Plan Supplement.

  • Backstop Commitment has the meaning set forth in Section 2.2(b).

  • Commitment Letters has the meaning set forth in Section 4.5.

  • Backstop Parties means those parties that agree to backstop the Rights Offering pursuant to the Backstop Commitment Letter, each in its respective capacity as such.

  • Equity Commitment Letter has the meaning set forth in Section 5.5(a).

  • Equity Commitment Letters has the meaning set forth in Section 6.6(a).

  • Post Closing Letter is that certain Post Closing Letter dated as of the Effective Date by and between Collateral Agent and Borrower.

  • Debt Commitment Letter has the meaning set forth in Section 6.6.

  • Investor Letter means that certain Investor Letter, substantially in the form attached hereto as Exhibit B.

  • Debt Commitment Letters shall have the meaning set forth in Section 5.7(a), as supplemented by Section 6.11, as applicable.

  • Commitment Letter has the meaning set forth in Section 5.7.

  • Placement Agreement means the Placement Agreement relating to the offering and sale of Capital Securities in the form of Exhibit C.

  • Investment Agreement shall have the meaning set forth in the Recitals hereto.

  • Alternative Acquisition Agreement has the meaning set forth in Section 5.3(d).

  • Support Agreement has the meaning set forth in the Recitals.

  • Placement Agent Agreement means that certain placement agent agreement dated as of the date hereof between the Company and the Placement Agent.

  • Investment Letter shall have the meaning specified in subsection 9.07(a).

  • Price amendment means the amendment to a registration statement filed under the Securities Act of 1933 or, if an amendment is not filed, the prospectus or prospectus supplement filed under the Securities Act of 1933 that includes a statement of the offering price, underwriting and selling discounts or commissions, amount of proceeds, conversion rates, call prices, and other matters dependent upon the offering price.

  • Restructuring Support Agreement has the meaning set forth in the Recitals.

  • Commitment Agreement means the written agreement that may be required at EDTI’s sole discretion between a Customer and EDTI whereby the Customer both authorizes the design and construction of new or expanded Facilities and agrees to pay all cancellation costs if the project is cancelled or if the Customer fails to sign an Electric Service Agreement prior to the energization of the new or expanded Facilities;

  • Arrangement Agreement has the meaning ascribed thereto in the recitals hereof;

  • Exchange Agent Agreement has the meaning set forth in Section 2.5(a).

  • Closing Date Acquisition Agreement shall have the meaning assigned to such term in the recitals hereto.

  • Acquisition Agreement means a letter of intent, agreement in principle, merger agreement, acquisition agreement, option agreement or other similar agreement.

  • Restructuring Agreement shall have the meaning set forth in the recitals.