Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 118

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 118
---
 part of Intelsat Jackson’s 6.500% First Lien Secured Notes due 2030 (the “Intelsat Jackson Notes”). If SES delivers a Notes Repurchase Notice, Intelsat has agreed to use its reasonable best efforts to, and to use its reasonable best efforts to cause its subsidiaries and representatives to, cause such Pre-ClosingNotes Repurchase to be effected on such terms and conditions and timing as set forth in the Notes Repurchase Notice, subject to SES providing all funds necessary to effect the Pre-ClosingNotes Repurchase and certain other terms and conditions of the Share Purchase Agreement. Intelsat has agreed to, and agreed to cause Intelsat Jackson to, deliver to SES prior to the Closing an executed customary payoff letter from the creditors in respect of the Credit Agreement, dated February 1, 2022, by and among Intelsat Jackson and certain other parties thereto and Barclays Bank PLC, as administrative agent and collateral agent, subject to the terms and conditions of the Share Purchase Agreement. If the Pre-ClosingNotes Repurchase is exercised in respect of all outstanding Intelsat Jackson Notes, Intelsat has agreed to, and agreed to cause Intelsat Jackson to, deliver customary evidence of the redemption of the Intelsat Jackson Notes on or prior to the Closing. If (i) a Pre-ClosingNotes Repurchase is exercised in respect of some but not all of the outstanding Intelsat Jackson Notes or no Pre-ClosingNotes Repurchase occurs and (ii) an investment grade event (as defined in the indenture to the Intelsat Jackson Notes, an “Investment Grade Event”) occurs with respect to the Intelsat Jackson Notes on or prior to the Closing, Intelsat has agreed to, and agreed to cause Intelsat Jackson to, use reasonable best efforts to obtain and deliver to SES, no later than three business days prior to the Closing, a draft confirmation letter from the collateral agent under the indenture to the Intelsat Jackson Notes stating that all encumbrances and guarantees in connection therewith relating to the assets and properties of the Intelsat Group securing the Intelsat Jackson Notes will be released and terminated upon the occurrence of an Investment Grade Event. If either the Pre-ClosingNotes Repurchase is exercised in respect of all the outstanding Intelsat Jackson Notes or an Investment Grade Event occurs with respect to the Intelsat Jackson Notes on or prior to the Closing, Intelsat had agreed to, and agreed to cause Intels