Backstop Purchase Obligation definition
Backstop Purchase Obligation means the obligation of a Backstop Party to purchase Backstopped Shares in accordance with the terms and conditions of the Backstop Agreement and this Plan;
Backstop Purchase Obligation means the obligation of a Backstopper to purchase Backstopped Shares in accordance with the terms and conditions of this Agreement.
Examples of Backstop Purchase Obligation in a sentence
To the extent that any Eligible Subscriber would otherwise be entitled to receive a fractional Preferred Share in connection with an acquisition of Preferred Shares pursuant to the Subscription Privilege, its Backstop Purchase Obligation or otherwise, the number of Preferred Shares acquired by such Eligible Subscriber shall be rounded down to the nearest whole number.