Backstop Purchase Price definition

Backstop Purchase Price means, with respect to any Preferred Backstop Investor, such Preferred Backstop Investor’s Backstop Percentage of the product of the (i) Per Share Purchase Price and (ii) the Unsubscribed Shares.

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Backstop Purchase Price means $2.50 per share of Common Stock.

Backstop Purchase Price has the meaning assigned to it in Section 2.1(d)(i) hereof.

Examples of Backstop Purchase Price in a sentence

• Payment for the Backstop Shares to be purchased by each Preferred Backstop Investor at the Closing shall be effected by each such Preferred Backstop Investor delivering to [the Notice and Claims Agent] [two (2)] Business Days prior to the Closing in immediately available funds its respective Backstop Purchase Price, against delivery at Closing of the respective Backstop Shares.

• Maxim Group LLC will receive a commission equal to 2% of the Backstop Purchase Price and 2% of the gross proceeds attributable to Backstop Investor’s participation in the Rights Offering as a Rights Holder.

• The Backstop Party has, and on the Effective Date will have, available to it funds in amounts sufficient to pay its portion of the Backstop Purchase Price and to effect the transactions contemplated hereby.

• At the Closing, each Purchaser shall deliver to the Company, the Mandatory Backstop Purchase Price (and, if applicable, the Optional Backstop Purchase Price) for the shares being purchased by such Purchaser against delivery of the Shares by the Company.

• Within five business days after delivery of the above-described notice, the Backstop Party shall deliver the Backstop Purchase Price funds to the Backstop Funds Escrow.

• The Closing Date shall be delayed only to the extent necessary to allow each DNC 2025 Commitment Party to fund their respective DNC 2025 Backstop Purchase Price payable in respect of such unpurchased DNC 2025 Subscribed New Notes.

• At the Closing, the Purchaser shall deliver to the Company, the Mandatory Backstop Purchase Price (and, if applicable, the Optional Backstop Purchase Price) for the shares being purchased by the Purchaser.

• In the event the Closing does not occur on the anticipated Closing Date, the Company shall promptly (but no later than two (2) Business Days thereafter) return the FPS Purchase Price and value of the Backstop Purchase Price to the Purchaser.

• At least one (1) Business Day prior to the Backstop Closing Date, each Purchaser shall deliver to the Company the aggregate Backstop Purchase Price for all Backstop Purchase Shares purchased by such Purchaser, if any, by wire transfer of U.S. dollars in immediately available funds to the account specified in the Company Notice to be held in escrow until the Backstop Closing.

• The New Common Shares which each of the Backstop Investors is required to purchase pursuant to this Section 2.2(a) are referred to herein as such Backstop Investor’s “Backstop Shares.” The Backstop Investors will purchase such New Common Shares by exchanging the principal amount of New Senior Notes equal to such Backstop Investor’s Backstop Purchase Price.

More Definitions of Backstop Purchase Price

Backstop Purchase Price is defined in Section 2.2(b).

Backstop Purchase Price has the meaning set forth in Section 13(b).

Backstop Purchase Price means, with respect to each Backstop Party, an amount equal to the sum of (x) the aggregate Purchase Price for such Backstop Party’s Backstop Commitment Amount and (y) the aggregate Purchase Price for the New First Lien Notes such Backstop Party has subscribed for in the Concurrent Notes Offering, less such Backstop Party’s Backstop Fee.

Backstop Purchase Price is the aggregate amount to be paid by wire transfer of U.S. dollars in immediately available funds by each Backstop Investor equal to the number of Backstop Shares representing such Backstop Investor’s Backstop Entitlement multiplied by the Subscription Price.