The Backstop Commitments. (a) (i) On the terms and subject to the conditions set forth herein (and in any event only upon ▇▇▇▇▇▇▇▇▇’s receipt of the amounts described in Section 1.2(b) hereof), Wolfspeed shall issue to each Rights Offering Backstop Party on the Plan Effective Date, and each Rights Offering Backstop Party agrees to its Backstop Commitment, and shall, severally and not jointly, purchase its Backstop Percentage of the Unsubscribed Notes at the aggregate Purchase Price for such Unsubscribed Notes.
Appears in 2 contracts
Sources: Backstop Commitment Agreement (Wolfspeed, Inc.), Restructuring Support Agreement (Wolfspeed, Inc.)