Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 37

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 37
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 amended and restated option agreement by AmTrust in order for such agreement to be in full force and effect as of the second merger effective time.

Conditions to Maiden’s, US NewCo’s, Bermuda NewCo’s and the Mergers Subs’ Obligation to Complete the Transaction

The obligations of Maiden, US NewCo, Bermuda NewCo and the Merger Subs to effect the transaction are subject to the satisfaction (or waiver by Maiden, if permissible under applicable law) on or prior to the date of the closing of the following conditions:

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TABLE OF CONTENTS

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the representations and warranties of Kestrel and the Kestrel equityholders are true and correct as of the date of the combination agreement and as of the date of the closing as though made as of such date, subject to certain materiality or “material adverse effect” qualifications described in the combination agreement, and Maiden has received a certificate from officers of Kestrel to that effect;

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Kestrel has performed in all material respects all of its pre-closing obligations under the combination agreement, and Maiden has received a certificate from officers of Kestrel to that effect;

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there has occurred no Kestrel material adverse effect; and

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execution and delivery at the closing of (i) the Ledbetter registration and investor rights agreement by KILH and (ii) the amended and restated option agreement by Kestrel, in each case, in order for such agreement to be in full force and effect as of the second merger effective time.

Conditions to Kestrel’s and the Kestrel Equityholders’ Obligation to Complete the Transaction

The obligations of Kestrel and the Kestrel Equityholders to effect the transaction are subject to the satisfaction (or waiver by Kestrel and each of KILH and AmTrust, if permissible under applicable law) on or prior to the date of the closing of the following conditions:

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the representations and warranties of Maiden, US NewCo, Bermuda NewCo and the Merger Subs are true and correct as of the date of the combination agreement and as of the date of the closing as though made as of such date, subject to certain materiality or “material adverse effect” qualifications described in the combination agreement, and Kestrel has received a certificate from officers of Maiden to that effect;

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Maiden has performed in all material respects all of their respective pre-closing obligations under the combination agreement, and Kestrel has received a certificate