Common use of Backstop Guarantee Clause in Contracts

Backstop Guarantee. Subject to the terms and conditions of this Agreement, at the Closing Investor shall purchase from the Company (the “Backstop Guarantee”), and the Company shall issue to Investor, at the Subscription Price, a number of the Rights Offering Units equal to (a) the Aggregate Offered Units minus (b) the number of Rights Offering Units validly subscribed for and purchased by Eligible Securityholders in the Rights Offering in the manner set forth in the Prospectus. Within three (3) Business Days after the expiration of the Subscription Period, the Company shall issue to Investor a notice (the “Guarantee Notice”) setting forth the Aggregate Offered Units, the number of Rights Offering Units validly subscribed for in the Rights Offering and the number of Rights Offering Units to be acquired by Investor pursuant to the Backstop Guarantee. The Rights Offering Units acquired by Investor pursuant to the Backstop Guarantee are collectively referred to as the “Backstop Acquired Units”. The Backstop Acquired Units shall not exceed an aggregate of 1,188,823 Company Offered Units (or approximately 29.7%) of the total number of the Company Offered Units.

Backstop Guarantee. Subject to the terms and conditions of this Agreement, at the Closing Investor shall purchase from the Company (the “Backstop Guarantee”), and the Company shall issue to Investor, at the Subscription Price, a number of the Rights Offering Units equal to (a) the Aggregate Offered Units minus (b) the number of Rights Offering Units validly subscribed for and purchased by Eligible Securityholders in the Rights Offering in the manner set forth in the Prospectus. Within three (3) Business Days after the expiration of the Subscription Period, the Company shall issue to Investor a notice (the “Guarantee Notice”) setting forth the Aggregate Offered Units, the number of Rights Offering Units validly subscribed for in the Rights Offering and the number of Rights Offering Units to be acquired by Investor pursuant to the Backstop Guarantee. The Rights Offering Units acquired by Investor pursuant to the Backstop Guarantee are collectively referred to as the “Backstop Acquired Units”. The Backstop Acquired Units shall not exceed an aggregate of 1,188,823 1,179,259 Company Offered Units (or approximately 29.7%) of the total number of the Company Offered Units.