Requisite Backstop Parties definition

Requisite Backstop Parties means the Backstop Parties holding at least a majority (or, solely with respect to Section 8.2 hereof, 662/3%) of the aggregate Backstop Commitments, as of the date on which the consent or approval is solicited; provided, however, that the votes and commitments of any Defaulting Backstop Party shall be excluded from the calculation of Backstop Commitment Percentages for purposes of this definition.

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Requisite Backstop Parties means the Backstop Parties holding at least a majority of the aggregate Backstop Commitments, as of the date on which the consent or approval is solicited; provided, however, that the votes and commitments of any Defaulting Backstop Party shall be excluded from the calculation of Backstop Commitment Percentages for purposes of this definition.

Requisite Backstop Parties means, as of any date of determination, the Non- Defaulting Backstop Parties that are Specified Backstop Parties whose aggregate Backstop Commitments constitute more than 66-2/3% of the aggregate Backstop Commitments of all Non- Defaulting Backstop Parties that are Specified Backstop Parties as of such date. Prior to the effectiveness of the Backstop Purchase Agreement, for purposes of determining the Backstop Commitments of the Specified Backstop Parties, the Backstop Commitment Percentage of each Specified Backstop Party shall be set forth opposite the name of the Affiliates of such Specified Backstop Party on Schedule 2 attached hereto. After the effectiveness of the Backstop Purchase Agreement, for purposes of determining the Backstop Commitments of the Specified Backstop Parties, the Backstop Commitment Percentage of each Specified Backstop Party shall be set forth in, or as determined by, the Backstop Purchase Agreement.

Examples of Requisite Backstop Parties in a sentence

• In addition, the parties may agree upon other customary covenants reasonably satisfactory to the Debtors and the Requisite Backstop Parties.

• No executory contract or unexpired lease shall be assumed or rejected without the written consent of the Required Consenting Creditors and the Requisite Backstop Parties.

• All or any of the conditions set forth in Section 7.1 may only be waived in whole or in part with respect to all Backstop Parties by a written instrument executed by the Requisite Backstop Parties in their sole discretion and if so waived, all Backstop Parties shall be bound by such waiver.

• The third sentence of Section 2.4(c) of the BCA shall be amended and restated as follows: The Backstop Escrow Account shall be established with an escrow agent satisfactory to the Requisite Backstop Parties and the Company and the Issuer (as relevant) pursuant to an escrow agreement in form and substance reasonably satisfactory to the Requisite Backstop Parties and the Company and the Issuer (as relevant).

• Upon receipt of such notice, the Requisite Backstop Parties shall have the right to immediately terminate the Backstop Commitment Agreement.

More Definitions of Requisite Backstop Parties

Requisite Backstop Parties means each of (i) the Group A Backstop Parties holding, in the aggregate, at least three-quarters of the aggregate Backstop Commitment Percentages for the Group A Backstop Allocation of all Group A Backstop Parties and (ii) the Group B Backstop Parties holding, in the aggregate, at least three-quarters of the aggregate Backstop Commitment Percentages for the Group B Backstop Allocation of all Group B Backstop Parties, in each case, as of the date on which the consent or approval of such members is solicited.

Requisite Backstop Parties has the meaning set forth in the Backstop Commitment Agreement.

Requisite Backstop Parties means the Requisite Consenting Creditors (excluding, for purposes of determining thereof, any Initial Consenting Creditor that is a Defaulting Backstop Party).

Requisite Backstop Parties has the meaning set forth in the Restructuring Support Agreement.

Requisite Backstop Parties means, collectively, the Backstop Parties (other than any Defaulting Backstop Parties) holding more than (a) fifty percent (50%) of the aggregate Backstop Commitment Percentages held by the Ad Hoc Guaranteed Group Backstop Parties (other than any Ad Hoc Guaranteed Group Backstop Parties that are Defaulting Backstop Parties) (the “Requisite Guaranteed Backstop Parties”) and (b) fifty percent (50%) of the aggregate Backstop Commitment Percentages held by the Ad Hoc Legacy Group Backstop Parties (other than any Ad Hoc Legacy Group Backstop Parties that are Defaulting Backstop Parties) (the “Requisite Legacy Backstop Parties”); provided that for purposes of this definition, each such Backstop Party shall be deemed to hold the Backstop Commitment Percentages held by such Backstop Party’s Related Subscribers.

Requisite Backstop Parties means, collectively, the Backstop Parties (other than any Defaulting Backstop Parties) holding more than

Requisite Backstop Parties means, collectively, at least two unaffiliated Backstop Parties.