New Capital Offering Amount definition

New Capital Offering Amount means C$110 million in cash which shall be funded in U.S. dollars (based on the rate at which C$ may be exchanged into US$, determined by reference to the Bank of Canada noon spot rate as of a date agreed to by the Company and the Majority Second Lien Noteholder Supporting Parties that is not more than seven business days prior to the Effective Date, or such other date as agreed to by the Company and the Majority Second Lien Noteholder Supporting Parties, provided, however, that the intention is to use a date as close to the Effective Date as practicable).

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New Capital Offering Amount means an amount equal to the US$ equivalent of $110 million based on the Canadian Exchange Rate on the FX Date.

New Capital Offering Amount means the lesser of: (a) the Maximum New Capital Offering Amount; and (b) the amount, if any, by which the Aggregate Arrangement Cost exceeds the sum of the Debt Financing Amount and the Projected Cash-on Hand, and shall be determined by the Company in consultation with the Sponsors by no later than the tenth Business Day prior to the expected Effective Date; provided, that: (i) the New Capital Offering Amount shall not be less than $25 million; and (ii) any amount calculated or determined for purposes of this definition shall be subject to the thresholds, restrictions or other requirements as may be set forth in the Arrangement Agreement or other Definitive Documents to the extent any such threshold, restriction or other requirement is applicable to the determination of the New Capital Offering Amount;

Examples of New Capital Offering Amount in a sentence

In consideration for entering into, and conditional on fulfilling the obligations under, the Backstop Commitment Agreement, the Backstop Parties shall be entitled to receive on the Effective Date a fee equal to 5% of the New Capital Offering Amount, which fee shall be applied by the Backstop Parties to acquire additional New Second Lien Notes on the Effective Date.
Company and the Backstop Parties shall enter into the Backstop Commitment Agreement as at the date of this Term Sheet, pursuant to which, among other things, the Backstop Parties shall agree to backstop and consummate the New Capital Offering to the extent that Second Lien Noteholders do not subscribe for their Pro-Rata Share of the New Capital Offering Amount.
As part of the Recapitalization Transaction, PNI shall raise cash proceeds in an amount equal to the New Capital Offering Amount in exchange for New Second Lien Notes (the “New Capital Offering”).
Backstop Parties shall enter into the Backstop Commitment Agreement as at the date of this Term Sheet, pursuant to which, among other things, the Backstop Parties shall agree to backstop and consummate the New Capital Offering to the extent that Second Lien Noteholders do not subscribe for their Pro-Rata Share of the New Capital Offering Amount.
On the Effective Date, Second Lien Noteholders will have the right to participate in the New Capital Offering based on their respective Pro-Rata Share (calculated in accordance with Section 2 above) of the New Capital Offering Amount, to the extent permissible by law.
Second Lien Noteholders that participate in the New Capital Offering will be entitled to receive on the Effective Date US$1 of New Second Lien Notes for each US$1 of the New Capital Offering Amount provided by such Second Lien Noteholder.

More Definitions of New Capital Offering Amount

New Capital Offering Amount means an amount equal to the US Dollar equivalent of $110,000,000 based on the Canadian Exchange Rate on the FX Date;