Company: KG
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028251
Chunk: 190

Company: Kestrel Group Ltd
Filing Date: 2025-03-26
Form: 424B3
Chunk 190
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 current or future activities of Kestrel and its subsidiaries or that imposes equitable relief on, or the admission of wrongdoing by, Kestrel or any of its subsidiaries or any of their respective officers or directors;

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(A) materially amend, modify, terminate or waive any right under any Kestrel material contracts or (B) enter into any contract that would constitute a Kestrel material contract if in effect as of December 29, 2024, in each case, except in the ordinary course of business;

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materially amend, waive or voluntarily terminate any Kestrel lease, or enter into, extend or fail to exercise any renewal option under any Kestrel lease, in each case, except in the ordinary course of business;

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(A) change or revoke any material tax election (or otherwise cause Kestrel or any of its direct or indirect subsidiaries (other than Kestrel Service Corporation) to be treated as other than a partnership or a disregarded entity for tax purposes), (B) change any annual tax accounting period, or adopt or change any material method of accounting for tax purposes, (C) file any material amended tax return, (D) enter into any closing agreement for tax purposes, (E) request or enter into any private letter ruling, technical advice memoranda or comparable rulings, decisions or advice, in each case related to taxes, (F) surrender any right to claim a refund of material taxes, or (G) settle or compromise any audit or other proceeding relating to a material amount of tax, in each case to the extent that doing so would reasonably be expected to result in a material incremental tax cost to Bermuda NewCo, the surviving companies of the mergers or any of their subsidiaries after the closing;

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make or authorize capital expenditures, except in the ordinary course of business or as budgeted in Kestrel’s current plan presented to the Kestrel board that was made available to Maiden;

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adopt any plan of complete or partial liquidation, dissolution, restructuring, recapitalization or other reorganization, other than, in the case of any subsidiary of Kestrel, that is not material to Kestrel and its subsidiaries, taken as a whole;

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voluntarily abandon, dispose of, or permit to lapse any permit material to the business of Kestrel and of its subsidiaries, taken as a whole, other than as required by applicable law;

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enter into any new lines of business or withdraw from, or put into “run off,” any existing lines of business;