Commitment Party Default definition

Commitment Party Default means the failure (or communication of an imminent failure) by a Commitment Party to deliver and pay (or cause to be delivered and paid) the aggregate Commitment Amount of such Commitment Party when due in accordance with Section 2.1(a).

Commitment Party Default means the failure by any Commitment Party to (a) deliver and pay the aggregate Per Share Purchase Price for such Commitment Party’s Backstop Commitment Percentage of any Unsubscribed Shares by the Subscription Escrow Funding Date in accordance with Section 2.4(b) or (b) exercise its Subscription Rights pursuant to and in accordance with (i) the Plan and (ii) Section 2.1(b).

Commitment Party Default means the failure by any Commitment Party to

Examples of Commitment Party Default in a sentence

• If a Commitment Party Default occurs, the Outside Date shall be delayed only to the extent necessary to allow for the Commitment Party Replacement to be completed within the Commitment Party Replacement Period.

• Any portion of the Commitment Premium otherwise payable to any Defaulting Commitment Party except for such Commitment Party Default shall be paid pro-rata to any Replacing Commitment Party.

• For the avoidance of doubt, notwithstanding anything to the contrary set forth in Section 9.4 but subject to Section 10.11, no provision of this Agreement shall relieve any Defaulting Commitment Party from liability hereunder, or limit the availability of the remedies set forth in Section 10.10, in connection with any such Defaulting Commitment Party’s Commitment Party Default.

• If a Commitment Party Default occurs, the Outside Date shall be delayed only to the extent necessary to allow for (A) the Commitment Party Replacement to be completed within the Commitment Party Replacement Period or (B) the consummation of a Cover Transaction within the Cover Transaction Period.

• If a Commitment Party Default occurs, the defaulting Commitment Party shall not be entitled to receive the portion of the Commitment Fee Common Stock or Warrants payable to such Commitment Party as provided for herein.

More Definitions of Commitment Party Default

Commitment Party Default means a HoldCo Noteholders Commitment Party Default or a HoldCo Equityholders Commitment Party Default.

Commitment Party Default means an Unsecured Commitment Party Default or a Secured Commitment Party Default.

Commitment Party Default means (x) any Commitment Party fails to (i) fully exercise all its Purchase Rights pursuant to and in accordance with the Plan in accordance with Section 2.2(a) or (ii) deliver and pay the aggregate Purchase Price for such Commitment Party’s Backstop Commitment Percentage of any Unsubscribed Securities by the Escrow Funding Date in accordance with Section 2.4 or (y) any Commitment Party denies or disaffirms in a writing (electronic or otherwise) such Commitment Party’s obligations pursuant to Section 2.2(a) or Section 2.4.

Commitment Party Default means the failure by a Commitment Party to (i) fully exercise its minimum allocation of subscription rights pursuant to the Section 4(a)(2) Rights Offering, and duly purchase all Rights Offering Common Stock pursuant to such exercise at the Offering Price and (ii) purchase the Commitment Party’s Backstop Commitment Percentage of any Unsubscribed Eligible Offeree Rights Offering Common Stock at the Offering Price that are offered and not otherwise purchased as part of the Eligible Offeree Rights Offering.

Commitment Party Default means a breach of this Agreement arising if any Commitment Party fails to (i) fully exercise its Subscription Rights pursuant to and in accordance with Section 2.2(a) and Section 2.4 of this Agreement and to pay the applicable aggregate Purchase Price and/or (ii) deliver and pay the applicable aggregate Purchase Price for such Commitment Party’s Backstop Commitment Percentage of any Unsubscribed Equity Interests, by the Subscription Funding Date in accordance with Section 2.4.

Commitment Party Default means the failure by any Commitment Party to (a) deliver and pay the aggregate Purchase Price for such Commitment Party’s Backstop Commitment Percentage of any Unsubscribed Securities by the Subscription Funding Date (as it may be extended by the Company pursuant to the proviso in Section 2.4(b)) in accordance with Section 2.4(b) or (b) fully exercise all its Subscription Rights pursuant to and in accordance with the Plan in accordance with Section 2.2(a).

Commitment Party Default means a Joinder Commitment Party Default or a Senior Commitment Party Default.