Conditions to the Obligations of the Commitment Parties. (a) The obligations of each Commitment Party to purchase Unsubscribed Notes pursuant to its respective Backstop Commitments, in the case of Rights Offering Backstop Parties, or the Direct Investment Notes pursuant to its Direct Investment Commitments, in the case of Rights Offering Holdback Parties, on the Plan Effective Date are subject to the satisfaction of the following conditions (unless, to the extent permitted by applicable Law, waived by the Requisite Commitment Parties) prior to or at the Plan Effective Date:
Appears in 2 contracts
Sources: Backstop Commitment Agreement (Wolfspeed, Inc.), Restructuring Support Agreement (Wolfspeed, Inc.)