Backstop Payment definition

Backstop Payment has the meaning given to it in clause 3.1;
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Backstop Payment means a Cash payment equal to 3.00% of the amount of the Priority Exit Facility Loans payable to the Backstop Parties as consideration for providing the Priority Exit Facility Backstop Commitment.
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Backstop Payment means the Interim Backstop Payment (as defined in Section 2) and the Aggregate Buyback Amount (as defined in Section 3).
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Examples of Backstop Payment in a sentence

  • Such termination payments range between 10% and 50% of the Backstop Payment, depending on the event that triggered the termination of such agreement.

  • It is hereby agreed that the relative benefits to the Indemnifying Party on the one hand and all Indemnified Persons on the other hand shall be deemed to be in the same proportion as (i) the total value received or proposed to be received by the Company pursuant to the sale of Notes contemplated by this Commitment Agreement bears to (ii) the payments made or proposed to be made (including the Backstop Payment and the Termination Payment) to the Investors in connection with such sale.

  • If as of the Effective Date the Backstop Commitment Agreement has not been terminated, the Backstop Payment shall be paid on the Effective Date in an amount equal to the greater of (x) $15 million (payable in cash) and (y) 6% of the Amount (50% paid in cash and 50% in the form of Common Shares, based on the Conversion Price).

  • The Backstop Payment will be payable whether or not there are any Unsubscribed Notes and will be fully earned and nonrefundable when paid on the Effective Date; provided, however, that in no event shall the Investors receive both the Backstop Payment and the Termination Payment.

  • To the extent the Contractor receives a Vaccination Backstop Payment and Contractor is later able to receive payment from the individual’s health insurer or COVID-19 Uninsured Program Portal, Contractor shall return the Vaccination Backstop Payment to DPH within 30 days, either by directly returning payment or by reducing the amount billed to DPH on the next invoice.

  • The cash portion of the Backstop Payment will be made by wire transfer of immediately available funds on the Effective Date.

  • The percentage of the Backstop Payment allocated to each Investor is as set forth on Schedule 1(h) hereto.

  • A&R Exit Facility Backstop Payment means the payment made to the Backstop Parties (as defined in the Amended & Restated First Lien Credit Agreement) to the A&R Exit Facility.

  • None of the Company nor any of the other Debtors is a party to any Contract with any Person (other than this Agreement) that would give rise to a valid claim against the Backstop Parties for a brokerage commission, finder’s fee or like payment in connection with the Offerings, the sale of the Backstop Securities or the payment of the Backstop Payment.

  • Fifty percent of the aggregate Backstop Payment shall be payable in cash and fifty percent of the aggregate Backstop Payment shall be payable in Common Shares based upon the Conversion Price; provided, however, that an Investor may elect to receive the full amount of its Backstop Payment in Common Shares by notice delivered to the Company in accordance with Section 13 not later than the Escrow Date.


More Definitions of Backstop Payment

Backstop Payment means a payment in the aggregate amount of $900,000.00 payable to the Backstop Parties in return for their agreement to backstop the commitments for the Investments.
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Backstop Payment. If as of the Effective Date the Backstop Commitment Agreement has not been terminated, the Backstop Payment shall be paid on the Effective Date in an amount equal to the greater of (x) $15 million (payable in cash) and (y) 6% of the Amount (50% paid in cash and 50% in the form of Common Shares, based on the Conversion Price).
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Backstop Payment means a Cash payment equal to 2.50% of the amount of the Exit Term Loans payable to the Backstop Parties as consideration for providing the Exit Term Loan Backstop Commitment.
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Related to Backstop Payment

  • Gross Settlement Amount means $520,000.00 (Five Hundred Twenty Thousand Dollars and Zero Cents), which is the total amount Defendants agrees to pay under the Settlement except as provided in Paragraph 9 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.

  • Cash Payment has the meaning set forth in Section 1.2(a).

  • Settlement Payment means the transfer, or contractual undertaking (including by automated clearing house transaction) to effect a transfer, of cash or other property to effect a Settlement.

  • Payment Amount as defined in Section 3.5.

  • Cash Payment System means a payment system that generates any transfer of funds through a transaction originated by cash, check, or similar paper instrument. This includes electronic payments to a financial institution or clearing house that subsequently issues cash, check, or similar paper instrument to the designated payee.

  • CVR Payment Amount means with respect to each CVR Payment and each Holder, an amount equal to such CVR Payment divided by the total number of CVRs and then multiplied by the total number of CVRs held by such Holder as reflected on the CVR Register.

  • Closing Purchase Price shall have the meaning ascribed to such term in Section 2.1(b), which aggregate purchase price shall be net of the underwriting discounts and commissions.

  • Final Purchase Price has the meaning set forth in Section 2.02.

  • Settlement Amount has the meaning specified in Section 14.02(a)(iv).

  • Structured settlement payment rights means rights to receive periodic payments under a structured settlement, whether from the structured settlement obligor or the annuity issuer, where: