Examples of PropCo Preferred Backstop Investors in a sentence
On the Effective Date of the Plan, the PropCo Preferred Backstop Investors will, subject to the terms and conditions of the Backstop Commitment Agreement, purchase the aggregate amount of PropCo Preferred Equity subject to a properly exercised PropCo Preferred Equity Put Right or PropCo Preferred Equity Call Right for Cash at a price per share equal to 83.3333% of the liquidation value thereof.
Pursuant to the Plan and these Election Procedures, however, each Holder of an Allowed Secured First Lien Notes Claim may exercise its PropCo Preferred Equity Put Right to put all, but not less than all, of such Holder’s Pro Rata share of the PropCo Preferred Equity Distribution to the PropCo Preferred Backstop Investors.
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On the Effective Date, the PropCo Preferred Backstop Investors shall have the right, pursuant to the PropCo Preferred Equity Call Right and consistent with the Backstop Commitment Agreement, to purchase for Cash from each Holder of Secured First Lien Notes Claims up to 50% of the PropCo Preferred Equity Distribution received by each such Holder.
Pursuant to the Plan and the Backstop Commitment Agreement, the PropCo Preferred Backstop Investors shall have, pursuant to their PropCo Preferred Equity Call Rights, the right to call, on the Effective Date, up to 50 percent of the PropCo Preferred Equity that would otherwise be received by the Holders of Allowed Secured First Lien Notes Claims.
Further, each Holder of Secured First Lien Notes Claims that has exercised its right to put PropCo Preferred Equity by the Voting Deadline shall have the right to put such Holders’ Pro Rata share of the remaining PropCo Preferred Equity to the PropCo Preferred Backstop Investors for Cash pursuant to the PropCo Preferred Equity Put Right and consistent with the Backstop Commitment Agreement.
On the Effective Date, the PropCo Preferred Backstop Investors shall have the right to call up to 50 percent of the PropCo Preferred Equity received by the Holders of Secured First Lien Notes Claims, for Cash, pursuant to the PropCo Preferred Equity Call Right and consistent with the Backstop Commitment Agreement.
Pursuant to the Plan and these Election Procedures, however, each Holder of an Allowed Secured First Lien Notes Claim may exercise its PropCo Preferred Equity Put Right to put all, but not less than all, of such Holder's Pro Rata share of the PropCo Preferred Equity Distribution to the PropCo Preferred Backstop Investors.
On the Effective Date of the Plan, the PropCo Preferred Backstop Investors will, subject to the terms and conditions of the Backstop Commitment Agreement, purchase the aggregate amount of PropCo Preferred Equity subject to a properly exercised PropCo Preferred Equity Put Right or PropCo Preferred Equity Call Right for Cash at a price per share equal to 83.3333 percent of the liquidation value thereof (i.e., $20.83 per share).
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