Company: TIPT
Filing Date: 2025-10-31
Form Type: DEFM14A
Source: 0001140361-25-039949
Chunk: 193

Company: TIPTREE INC.
Filing Date: 2025-10-31
Form: DEFM14A
Chunk 193
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 Subsidiaries will use reasonable best efforts to ensure that the Credit Agreements and the existing notes indentures of certain Subsidiaries of Fortegra (collectively, the “Notes Indentures”) are not (i) terminated (other than in a customary refinancing transaction which complies with clause (ii)) or (ii) modified in a manner which would reasonably be expected to be materially adverse to Purchaser, in each case, without the prior written consent of Purchaser, which may be withheld, conditioned, or delayed for any reason (it being understood that, notwithstanding the covenants in the Merger Agreement, a repayment of any outstanding indebtedness utilizing available cash and a modification of the Credit Agreements or the Notes Indentures which is not materially adverse to Purchaser will not require the consent of Purchaser). Fortegra will not have any liability whatsoever to Purchaser or Merger Sub arising out of or relating to the failure to obtain any such COC Amendments or because of the termination of any Credit Agreement or Notes Indenture as a result thereof, except as a result of Fortegra’s breach of the terms of this paragraph. Purchaser acknowledges that, other than with respect to Fortegra’s breach of its obligations pursuant to the terms of this paragraph, no representation, warranty, agreement or covenant of Fortegra contained in the Merger Agreement will be breached or deemed inaccurate or breached, and no condition to closing will be deemed not satisfied, as a result of (i) the failure to obtain any such COC Amendment, (ii) any such termination or (iii) any litigation commenced or threatened by or on behalf of any person arising out of or relating to the failure to obtain any such COC Amendment or any such termination.

Purchaser will reimburse Fortegra and Tiptree for all reasonable and documented out-of-pocket costs and expenses (including reasonable attorneys’ fees) incurred by Fortegra, Tiptree and their respective representatives or affiliates in connection with any action requested by Purchaser pursuant to this section of the Merger Agreement, promptly after receipt of a written request therefor from Fortegra or Tiptree; provided, that such reimbursement obligation will not extend to, and Fortegra and Tiptree will be solely responsible for, costs and expenses incurred by Fortegra and Tiptree (or any of their affiliates or representatives) in connection with business activity in the ordinary course of business not connected to the COC Amendments.

Notwithstanding anything in the Merger Agreement to the contrary, until the closing