Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 65

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 65
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 include the engagement of a third party consultant
whose particular expertise or skills are believed by management to be significantly superior to those of other consultants that would
agree to execute a waiver or in cases where management is unable to find a service provider willing to execute a waiver. In addition,
there is no guarantee that such entities will agree to waive any claims they may have in the future as a result of, or arising out of,
any negotiations, contracts or agreements with HVII and will not seek recourse against the trust account for any reason. Upon redemption
of HVII’s public shares, if it is unable to complete its initial business combination within the prescribed timeframe, or upon
the exercise of a redemption right in connection with its initial business combination, HVII will be required to provide for payment
of claims of creditors that were not waived that may be brought against it within the 10 years following redemption. Accordingly, the
per-share redemption amount received by public shareholders could be less than the $10.00 per share initially held in the trust account,
due to claims of such creditors. Pursuant to the letter agreement, the form of which is filed as an exhibit to HVII’s registration
statement filed in connection with HVII’s initial public offering, HVII’s sponsor has agreed that it will be liable to HVII
if and to the extent any claims by a third party (other than HVII’s independent registered public accounting firm) for services
rendered or products sold to HVII, or a prospective target business with which HVII has entered into a written letter of intent, confidentiality
or similar agreement or business combination agreement, reduce the amount of funds in the trust account to below the lesser of (i) $10.00
per public share and (ii) the actual amount per public share held in the trust account as of the date of the liquidation of the trust
account, if less than $10.00 per share due to reductions in the value of the trust assets, less permitted withdrawals, provided that
such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights
to the monies held in the trust account (whether or not such waiver is enforceable) nor will it apply to any claims under HVII’s
indemnity of the underwriters of HVII’s initial public offering against certain liabilities, including liabilities under the Securities
Act. However, HVII has not asked its sponsor to reserve for such indemnification obligations,