Company: TRUE
Filing Date: 2025-11-13
Form Type: PREM14A
Source: 0001104659-25-111498
Chunk: 186

Company: TrueCar, Inc.
Filing Date: 2025-11-13
Form: PREM14A
Chunk 186
---
 has become inaccurate, and such breach or inaccuracy, in the cases of clauses (i) or (ii), (A) resulted in certain conditions to the Closing not being satisfied and (B) was not curable within thirty (30) days, or if curable, was not cured within thirty (30) days of notice from Parent to TrueCar of such breach; provided, however, that neither Parent nor Merger Subsidiary was then in breach of any covenant, agreement, representation or warranty contained in the Merger Agreement that, in each case would result in a failure of a condition precedent to TrueCar’s obligation to consummate the Merger; or

•

by Parent or the Company:

•

because the Merger has not been consummated on or before the End Date; provided that in the case of termination by the Company pursuant to this bullet, the failure of the Merger to be consummated by the End Date did not result from a material breach by Parent of any provision of the Merger Agreement; or

•

because the Company Stockholder Approval was not obtained at the Special Meeting (or any adjournment or postponement thereof) at which a vote on the approval of the Merger Proposal was taken; and

•

each of the following conditions is satisfied:

•

after the date of the Merger Agreement and prior to: (i) the Special Meeting (in the case of a termination as a result of a failure to obtain the Company Stockholder Approval at the Special Meeting); or (ii) the termination of the Merger Agreement (in the case of a termination for any other reason listed above), an Acquisition Proposal is publicly announced or otherwise is communicated to the Board; and

•

within twelve (12) months following the date of such termination, the Company enters into a definitive agreement with respect to an Acquisition Proposal or an Acquisition Proposal is consummated (provided, that for purposes of this bullet, each reference to “20%” in the definition of Acquisition Proposal will be deemed to be a reference to “50%”).

Notwithstanding the foregoing, TrueCar shall be required to pay the Reduced Termination Fee if:

•

TrueCar validly terminates the Merger Agreement prior to receipt of the Company Stockholder Approval because the Board authorized TrueCar to enter into a definitive Alternative Acquisition Agreement concerning a Superior Proposal; and

•

such termination occurs either: (i) prior to the No-Shop Period Start Date; or (ii) within ten (10) business days following the No-