Initial Commitment Party definition
Examples of Initial Commitment Party in a sentence
You also agree that each Commitment Party may at any time and from time to time assign all or any portion of its Commitment hereunder to one or more of its affiliates; provided that no Commitment Party shall be relieved of any portion of its Commitments hereunder (other than, in the case of an Initial Commitment Party, in connection with the assignment of Commitment to an Additional Commitment Party) prior to the funding under the ABL Facility.
The provisions of this Section 6.4(b) shall not apply to any Initial Commitment Party that, as of the date hereof, is party to a confidentiality or non-disclosure agreement with the Debtors, for so long as such agreement remains in full force and effect.
The provisions of this Section 6.4(b) shall not apply to any Initial Commitment Party that is or becomes a party to a confidentiality or non-disclosure agreement with the Company Group Members, for so long as such agreement remains in full force and effect (including any amendments thereto).
Such withdrawing Initial Private Placement Party thereafter will have no rights or obligations as an Initial Private Placement Party under this Agreement or as an Initial Commitment Party under the Backstop Commitment Agreement.
For the avoidance of doubt, no Prepetition RBL Lender that is not an Initial Commitment Party shall be permitted to join this Commitment Letter unless such Prepetition RBL Lender commits to join both the DIP Facility and the Exit Revolving Facility.
Any failure of a lending affiliate of an Initial Commitment Party to fund the DIP Facility as required by this Section 6 shall be deemed a breach of this Section 6 by such Initial Commitment Party as if such Initial Commitment Party had directly provided the commitment of such lending affiliate in this Section 6.
Following the Closing, the Company shall timely file a Form D with the SEC with respect to the Rights Offering Shares and the Unsubscribed Shares issued hereunder to the extent required under Regulation D of the Securities Act and shall provide, upon request, a copy thereof to each Initial Commitment Party.
The Debtors shall have paid (or such amounts shall be paid concurrently with the Closing) to each Initial Commitment Party the applicable Commitment Premium as set forth in Section 3.2.
Each of ABN AMRO and NIBC acknowledges that it has, independently and without any reliance upon any Initial Commitment Party or any of their respective affiliates, or any of their respective officers, directors, employees, agents, advisors or representatives, and based on the financial statements of the Parent and its subsidiaries and such other documents as it has deemed appropriate, made its own credit analysis and decision to provide a commitment and enter into this Joinder Agreement.
Such Initial Commitment Party has, and will have on the dates its Commitments hereunder are required to be performed, sufficient funds available to purchase its Commitments hereunder on the terms contemplated by this Commitment Letter and the Term Sheet and to consummate the other transactions contemplated by this Commitment Letter and the Term Sheet.