Debt Backstop Agreement definition

Debt Backstop Agreement means that certain Debt Backstop Commitment Agreement, among the Debtors and the Debt Backstop Parties (including all exhibits, schedules, attachments and/or addendum thereto), pursuant to which the Debt Backstop Parties have agreed to backstop the New Long-Term Debt.
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Debt Backstop Agreement means that certain Debt Backstop Agreement, to be executed among the Debtors and the debt backstop parties party thereto (including all exhibits, schedules, attachments and/or addendum thereto), pursuant to which the debt backstop parties will agree to backstop the Exit Facility in an aggregate principal amount of $1,641,000,000.
Sample 1

Examples of Debt Backstop Agreement in a sentence

  • The Restructuring Support Agreement, the Equity Backstop Agreement, and the Debt Backstop Agreement each contain certain provisions that give the parties thereto the ability to terminate the applicable agreement upon the occurrence or non-occurrence of certain events, including failure to achieve certain milestones in these Chapter 11 Cases.

  • Termination of the Restructuring Support Agreement, the Equity Backstop Agreement, or the Debt Backstop Agreement could result in protracted Chapter 11 Cases, which could significantly and detrimentally impact the Debtors’ relationships with vendors, suppliers, employees, and major customers.

  • The Restructuring Support Agreement, the Equity Backstop Agreement, and the Debt Backstop Agreement shall not have been terminated in accordance with their terms and remain in full force and effect and the parties thereto shall be in compliance therewith.

  • Subject to the conditions to the Effective Date, the Debtors reserve the right, subject to the terms of the Restructuring Support Agreement, the Equity Backstop Agreement, and the Debt Backstop Agreement, to revoke or withdraw the Plan prior to the entry of the Confirmation Order and to file subsequent plans of reorganization.

  • Each Consenting Creditor that is a Backstop Party entitled to receive a Structuring Premium and the Company hereby agree to work in good faith to negotiate and execute the Equity Backstop Agreement and the Debt Backstop Agreement as promptly as practicable after the date of this Agreement, with each such agreement to be in customary form for agreements of such type.

  • The Consenting Creditors and the Company hereby acknowledge and agree that the economic terms regarding the Equity Backstop Agreement and the Debt Backstop Agreement, including the associated fees and structuring premiums, shall be as described in the Term Sheet.

  • The Debt Backstop Agreement contains substantially similar representations and warranties, covenants and conditions, and termination rights to the Equity Backstop Commitment Agreement.

  • Each deadline for submitting the national communications is decided on by the Conference of the Parties.

  • Both the Equity Backstop Agreement and Debt Backstop Agreement were negotiated at arm’s length, and in good faith, by the Debtors and the Backstop Parties, who, as the Debtors’ potential future equityholders, share the Debtors’ goal of an expeditious, value- maximizing restructuring.

  • The Debtors have previously agreed not to seek termination based on the original April 15, 2019 milestone dates (or the April 17, 2019 extended milestone dates) for execution of the Equity Backstop Agreement and the Debt Backstop Agreement.

Related to Debt Backstop Agreement

  • Backstop Agreement has the meaning set forth in the recitals to this Agreement.

  • Backstop Commitment Agreement means that certain Backstop Commitment Agreement, by and between CEOC and the PropCo Preferred Backstop Investors party thereto from time to time, as the same may be amended, amended and restated, supplemented, or otherwise modified from time to time in accordance with its terms, the form of which shall be included in the Plan Supplement.

  • Exit Financing means the financing under the Exit Facility.

  • Debt Commitment Letters shall have the meaning set forth in Section 5.7(a), as supplemented by Section 6.11, as applicable.

  • Debt Commitment Letter has the meaning set forth in Section 4.20.

  • Equity Commitment Letters has the meaning set forth in Section 6.6(a).

  • Backstop Commitment has the meaning set forth in Section 2.2(b).

  • Restructuring Support Agreement has the meaning set forth in the Recitals.

  • Equity Commitment Letter has the meaning set forth in Section 3.4(a).

  • Support Agreement has the meaning set forth in the Recitals.

  • Restructuring Agreement shall have the meaning set forth in the recitals.

  • Exit Facility means a credit facility that will be entered into by the City, the Exit Facility Agent and the other financial institutions party thereto on the Effective Date on substantially the terms set forth on Exhibit I.A.119.

  • Equity Contribution Agreement means the Equity Contribution Agreement, to be dated as of the Closing Date, by and among Guarantor, Borrower and Administrative Agent.

  • Commitment Letters has the meaning set forth in Section 4.5.

  • Investment Agreement shall have the meaning set forth in the Recitals hereto.

  • Financing Commitments has the meaning set forth in Section 5.7.

  • Exit Facility Documents means, collectively, the Exit Credit Agreement, and all other agreements, documents, and instruments delivered or entered into in connection with the Exit Facility, including any guarantee agreements, pledge and collateral agreements, intercreditor agreements, subordination agreements, fee letters, and other security documents

  • Debt Financing has the meaning set forth in Section 5.7.

  • Financing Commitment shall have the meaning set forth in Section 6.4.

  • Alternative Acquisition Agreement shall have the meaning set forth in Section 6.5(c).

  • Arrangement Agreement has the meaning ascribed thereto in the recitals hereof;

  • Commitment Agreement means the written agreement that may be required at EDTI’s sole discretion between a Customer and EDTI whereby the Customer both authorizes the design and construction of new or expanded Facilities and agrees to pay all cancellation costs if the project is cancelled or if the Customer fails to sign an Electric Service Agreement prior to the energization of the new or expanded Facilities;

  • Co-financing Agreement means the agreement to be entered into between the Recipient and the Co-financier providing for the Co-financing.

  • OP Agreement means the agreement of limited partnership of ATA Holdings, as amended and in effect from time to time.

  • Investment Agreements or “Flow-Through Agreements” means written agreements pursuant to which the Partnership will subscribe for Flow-Through Shares (including Flow-Through Shares issued as part of a unit) or agreements by the Partnership to otherwise invest in or purchase securities of a Resource Issuer, and in respect of Flow-Through Shares comprised of units, the Resource Issuer will covenant and agree:

  • Standstill Agreement shall have the meaning set forth in Section 6.03.