Backstopped Amount definition
Backstopped Amount means the number of shares of Common Stock and Preferred Stock, if any, by which (i) the number of shares of Common Stock necessary to be sold in the Rights Offering in order to raise aggregate proceeds equal to $35.3 million exceeds (ii) the number of shares of Registered Common Stock subscribed for and purchased pursuant to the Rights Offering. Such Preferred Stock issued in connection with the Backstop Commitment shall have the same economic rights as shares of Common Stock but shall have no voting rights and shall be convertible on a one-to-one basis with the Common Stock.
Backstopped Amount means cash in an amount equal to the (i) New Capital Offering Amount, less (ii) the aggregate Participating Noteholder Commitment Amounts validly deposited in escrow by Participating Noteholders (other than the Sponsors) in accordance with Section 2.1(3).
Backstopped Amount means the number of shares of Common Stock, if any, by which (i) twenty nine million one hundred sixty six thousand six hundred sixty seven (29,166,667) exceeds (ii) the number of shares of Registered Common Stock subscribed for and purchased pursuant to the Registered Rights.
Examples of Backstopped Amount in a sentence
For purposes of clarity, in all cases the aggregate Backstop Commitment of the Backstop Parties shall be equal to the full Backstopped Amount subject to the Backstop Commitment Limits for participating Backstop Parties, as applicable.
In particular, the Company is undertaking the Rights Offering in reliance on the Investor’s commitment under Sections 2.1 and 2.4 hereof to provide the Company with funds up to the Backstopped Amount as contemplated by this Agreement and the 2004 Investment Agreement, including, without limitation, Sections 2.1 and 2.4 hereof.
More Definitions of Backstopped Amount
Backstopped Amount has the meaning set forth in Section 2.1(b).
Backstopped Amount means a principal amount of New Second Lien Notes equal to
Backstopped Amount means a principal amount of New Second Lien Notes equal to $110,000,000 less the aggregate Commitment Amounts of the Noteholders (including the Backstop Parties), which amount shall be funded into escrow in cash on the Business Day immediately following the Funding Date in U.S. dollars based on the Canadian Exchange Rate as of the FX Date.
Backstopped Amount means the New Capital Offering Amount, less the aggregate Electing Eligible Second Lien Noteholder Commitment Amounts;
Backstopped Amount means $150,000,000.