DIP Backstop Fee definition

DIP Backstop Fee means a backstop fee equal to 6.0% of the full principal commitment of the DIP Facility, payable in shares of New Equity in an aggregate amount equal to the DIP Backstop Fee (expressed in dollars) divided by 65.0% of the Plan Equity Value, and payable ratably to each member of the Consenting Term Loan Lender Group and Consenting Noteholder Group in accordance with its DIP Facility backstop commitment.
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DIP Backstop Fee means a backstop fee equal to 6.0% of the full principal commitment of
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DIP Backstop Fee means 3% of the New Common Equity issued on the Effective Date, subject to dilution on account of the Management Incentive Plan, to be distributed Pro Rata to each Backstopper (based on each Backstopper’s commitments for the DIP Facility on the initial funding date under the DIP Credit Agreement) on the Effective Date. The DIP Backstop Fee is an Allowed Administrative Claim.
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Examples of DIP Backstop Fee in a sentence

  • On the Effective Date, each holder of an Allowed DIP Backstop Fee Claim shall receive, in full and final satisfaction of such Claim, its Pro Rata share of the DIP Backstop Fee.

  • New Common Equity issued to holders of DIP Claims, DIP Backstop Fee Claims, Second Lien Claims, Note Claims, and Equity Election General Unsecured Claims, in each case in exchange for such Claims, shall be issued in reliance on section 1145 of the Bankruptcy Code.

  • Consistent with the DIP Orders, all DIP Backstop Fee Claims are and shall be deemed Allowed against each Debtor.

  • In full satisfaction of and in exchange for each DIP Backstop Fee Claim, each DIP Backstop Fee Claim will be satisfied in full pursuant to the DIP Credit Agreement and the Restructuring Support Agreement and each holder of a DIP Backstop Fee Claim shall receive (a) on the Effective Date, its Pro Rata share of the DIP Backstop Fee and (b) on each Equity Distribution Date, its Pro Rata Share of the DIP True-Up.

  • When Patarkatsishvili died of heart failure February 12th, 2008, the ownership of Imedi controversially changed.

  • In accordance with section 1123(a)(l) of the Bankruptcy Code, DIP Facility Claims, DIP Backstop Fee Claims, Administrative Claims (including Professional Claims) and Priority Tax Claims have not been classified and thus are excluded from the Classes of Claims set forth in ARTICLE III of the Plan.

  • On or before the Effective Date, the Reorganized Debtors shall enter into the Exit Credit Facilities, and, subject to the satisfaction of the DIP Facility Claims and the DIP Backstop Fee Claims in accordance herewith, grant the Liens and security interests provided for therein.

  • In accordance with section 1123(a)(l) of the Bankruptcy Code, DIP Facility Claims, DIP Backstop Fee Claims, Administrative Claims (including Professional Claims) and Priority Tax Claims have not been classified and thus are excluded from the Classes of Claims set forth in ARTICLE III of this Plan.

  • The DIP Backstop Fee shall be converted or otherwise satisfied in accordance with the “Convertible Junior DIP Facility Claims” section.

  • Subject to the Reallocation Procedures, in full and final satisfaction, release, settlement, and discharge of, and in exchange for all Allowed 8.875% Senior Notes Claims, the following property shall be distributed Pro Rata to or on behalf of the holders of Allowed 8.875% Senior Notes Claims: (i) $6,500,000 in Cash; (ii) 2.6% of the New Common Stock to be effectuated as a transfer by the Backstoppers out of the DIP Backstop Fee; and (iii) the Unsecured LLA Override Shares issued to the Noteholder HoldCo.


More Definitions of DIP Backstop Fee

DIP Backstop Fee means the convertible 7% backstop fee payable to the lendersparty to the DIP Documents and DIP Orders pursuant to the terms thereof.
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DIP Backstop Fee means, in exchange for the DIP Backstop Parties’ agreement to backstop the entire amount of the DIP Facility, each DIP Backstop Party, as well as Project Swift LLC, shall receive its Pro Rata Share of a backstop fee equal to twenty percent (20%) of the DIP Term Loans in the form of an assumption of an equivalent amount of such DIP Backstop Party’s Term Loan Claims, up to the amount thereof, and thereafter paid in kind; provided that any interest on additional DIP Term Loans payable as part of such backstop fee shall be payable in kind; provided further that, to the extent a DIP Backstop Party does not hold Term Loan Claims sufficient to pay such backstop fee, such amount of the backstop fee shall be paid in an equivalent amount of DIP Term Loans. The DIP Backstop Fee shall be earned on the date of execution of the Transaction Support Agreement, but subject to the entry of the Interim DIP/Cash Collateral Order, and thereafter constitute DIP Claims. Any third party that funds the Accordion Facility shall be entitled to, with the consent of the Required DIP Lenders, a fee no worse for the Company than being paid to the DIP Backstop Parties.
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DIP Backstop Fee means the irrevocable fee granted to the Backstoppers under the DIP Loan Documents and the DIP Orders in the aggregate amount of 10% of the New Common Stock issued on the Effective Date. The DIP Backstop Fee is an Allowed Administrative Claim.
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Related to DIP Backstop Fee

  • DIP Facility means the debtor-in-possession secured financing facility provided to the Debtors by the DIP Lenders pursuant to the DIP Credit Agreement as authorized by the Bankruptcy Court pursuant to the DIP Facility Order.

  • Alternative Financing has the meaning set forth in Section 5.14(b).

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

  • Professional Fee Escrow Amount means the aggregate amount of Professional Fee Claims and other unpaid fees and expenses Professionals estimate they have incurred or will incur in rendering services to the Debtors prior to and as of the Confirmation Date, which estimates Professionals shall deliver to the Debtors as set forth in Article II.C hereof.

  • Commitment Fee has the meaning specified in Section 2.09(a).