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

  • 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 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.

  • 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.

  • 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.

  • 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.

  • For the avoidance of doubt, such approvals and authorizations shall include any portion of the New Long-Term Debt funded in accordance with the terms of the Debt Backstop Agreement.

  • For the avoidance of doubt, such approvals and authorizations shall include the New Long-Term Debt (if any) funded in accordance with the terms of the Debt Backstop Agreement.

  • The Agreed Dilution results from the Rights Offering, the Management Incentive Plan, and certain premiums payable under the Equity Backstop Agreement and the Debt Backstop Agreement (to the extent such premiums due under such agreements are elected to be received in the form of New Common Equity).

  • On April 25, 2019, the Debtors entered into the Debt Backstop Agreement.

  • The relevant milestones to be achieved include (a) entry of the final DIP Order by May 17, 2019, (b) the entry of an order approving the Restructuring Support Agreement, the Equity Backstop Agreement, and the Debt Backstop Agreement by May 31, 2019, (c) the entry of the Disclosure Statement Order by June 28, 2019, (d) the commencement of Plan Confirmation hearings by August 3, 2019, and (e) the effective date of the Plan must have occurred by August 29, 2019.

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 6.6.

  • 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 5.5(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.

  • Pre-Closing Restructuring has the meaning specified in Section 6.14(a).

  • 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, UCC financing statements or other perfection documents, 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 has the meaning set forth in Section 5.3(d).

  • 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 has the meaning set forth in the Recitals.