Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 188

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 188
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 relations with governmental authorities, key customers, reinsurance providers and other persons with whom Kestrel or its subsidiaries have significant business relationships, in each case, consistent with past practice in all material respects.

Kestrel has also agreed that, prior to the earlier of (i) the closing or (ii) the termination of the combination agreement, unless Maiden otherwise consents in writing (such consent not to be unreasonably withheld, conditioned or delayed), or as otherwise contemplated, required or permitted by the combination agreement or as required by applicable law, it will not and will not permit any of its subsidiaries to, subject to certain exceptions:

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(A) issue, sell or grant any Kestrel units or other equity or voting interests of Kestrel or its subsidiaries, or any securities or rights convertible into, exchangeable or exercisable for, or evidencing the right to subscribe for any Kestrel units or other equity or voting interests of Kestrel or any of its subsidiaries, or any options, rights, warrants or other commitments or agreements to acquire from Kestrel or any of its subsidiaries, or that obligate Kestrel or any of its subsidiaries to issue, any share capital of, or other equity or voting interests in, or any securities convertible into or exchangeable for shares of, or other equity or voting interests in, Kestrel or any of its subsidiaries, (B) redeem, purchase, repurchase or otherwise acquire any outstanding Kestrel units or other equity or voting interests of Kestrel or any of its subsidiaries, or any rights, warrants or options to acquire any Kestrel units or other equity or voting interests of Kestrel or any of its subsidiaries, except as required by Kestrel’s benefit plans, the Class B Units or other equity awards, (C) except pursuant to the Kestrel LLCA, establish a record date for, declare, set aside for payment or pay any dividend on, or make any other distribution in respect of, any Kestrel units or other equity or voting interests of Kestrel or any of its subsidiaries or (D) split, combine, subdivide or reclassify any Kestrel units or other equity or voting interests of Kestrel or any of its subsidiaries;

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(A) incur, assume or guarantee any indebtedness for borrowed money, issue or sell any debt securities or warrants or other rights to acquire any debt securities, guarantee any such indebtedness or any debt