Common use of Backstop Fee Clause in Contracts

Backstop Fee. If the Rights Offering is effected, MLF shall be entitled to receive a non-refundable fee upon the consummation of the Rights Offering of ten-year warrants to purchase a number of shares of ▇▇▇▇▇*s Common Stock equal to 8% multiplied by the number of shares of ▇▇▇▇▇*s Common Stock to be issued pursuant to the Rights Offering at the Subscription Price, and ▇▇▇▇▇*s shall deliver such warrants to MLF as and when required pursuant to the provisions of the Backstop Agreement.