Senior Noteholders PIK Notes Backstop Premium definition
Senior Noteholders PIK Notes Backstop Premium means $48.786 million of the New Secured Notes reserved for the Backstop Premium.
Examples of Senior Noteholders PIK Notes Backstop Premium in a sentence
Finally, the Senior Notes Backstop Parties that were initial signatories to the Backstop Agreement received a Commitment Fee of $20 million in cash upon entry into the Backstop Agreement (and have committed to purchase a corresponding amount of New Secured Notes on the Effective Date (the “Commitment Fee Notes”)), and on the Effective Date, shall receive the Senior Noteholders PIK Notes Backstop Premium (which includes the $20 million of Commitment Fee Notes).