Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 195

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 195
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 any of its subsidiaries;

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make any material changes in financial accounting methods, principles or practices, except insofar as may be required by (A) GAAP (or any interpretation thereof), including pursuant to standards, guidelines and interpretations of the FASB or any similar organization, (B) applicable SAP (or any interpretation thereof), including pursuant to standards, guidelines and interpretations of the National Association of Insurance Commissioners or (C) any applicable laws, including Regulation S-X under the Securities Act;

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except as may be required by (A) GAAP (or any interpretation thereof), including pursuant to standards, guidelines and interpretations of the FASB or any similar organization, (B) applicable SAP (or any interpretation thereof), including pursuant to standards, guidelines and interpretations of the National Association of Insurance Commissioners or (C) any applicable laws, alter or amend in any material respect any existing underwriting, reserving, claim handling or actuarial practice guideline or policy of Maiden or any subsidiary of Maiden that conducts the business of insurance or reinsurance;

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amend (A) the Maiden bye-laws or Maiden memorandum of association or (B) the comparable organizational documents of any of the subsidiaries of Maiden;

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grant any lien (other than permitted liens) on any of its material assets other than to secure indebtedness permitted under the combination agreement;

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sell, assign, transfer, license, sublicense, abandon, cancel, terminate or dispose of, permit to lapse or fail to protect, renew or maintain any material Maiden-owned intellectual property or any other material intellectual property for which Maiden controls prosecution or maintenance thereof, other than (A) non-exclusive licenses or sublicenses in the ordinary course of business or (B) during the ordinary course of prosecution at the United States Patent and Trademark Office and state, local and foreign equivalents thereof;

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other than in connection with claims under or in connection with contracts of insurance issued by Maiden or any of its subsidiaries, settle or compromise any pending or threatened action against Maiden or any of its subsidiaries for a cash settlement amount of more than $250,000 individually or $1,000,000 in the aggregate, or which settlement imposes any material restrictions on any of the current or future activities of Maiden and its subsidiaries or that imposes equitable relief on, or the admission of wrongdoing by, Maiden 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 Maiden material contract or Maiden reinsurance contract, or (B) enter into any