Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 649

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 649
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holder (or an Affiliate managing such Shareholder) (x) is directed by its client to Transfer such Covered Indiana Shares or (y) in its reasonable judgment, determines that it is advisable to Transfer any Covered Indiana Shares to satisfy one (1) or more redemption requests of any investment fund, mutual fund, hedge fund or separately managed fund or account or the request of any separately managed fund or account who is a Shareholder to liquidate and close such separately managed fund or account (each such Shareholder, a “ Qualifying Legacy Indiana Fund”), in which case the restrictions in this Section 3.3with respect to any Qualifying Legacy Indiana Fund shall not apply to the disposition of a number of Covered Indiana Shares reasonably necessary to satisfy such redemption or liquidation request or requests; providedthat, such Qualifying Legacy Indiana Fund shall use commercially reasonable efforts to satisfy the applicable redemption or liquidation request(s) entirely from other assets before resorting to the sale or disposition of any Covered Indiana Shares; and provided further, that the applicable Qualifying Legacy Indiana Fund (or the Shareholder on its behalf) shall use commercially reasonable efforts to notify Saturn in writing at least twenty-four (24) hours before any such sale or disposition and specify the number of Covered Indiana Shares to be sold, the date and time such sale or disposition may begin, and the reason for such sale or disposition;] 5 (v) with the prior written consent of Saturn, acting in its sole discretion; (vi) in connection with any exercise of Indiana Warrants as is necessary solely to satisfy any tax withholding obligations associated with such exercise; and (vii) to any Person; provided, however, that (x) prior to the time at which the Indiana Shareholder Approval is obtained, such Transfer is not to any satellite operator listed on Exhibit Cor any of its Affiliates, and (y) at any time, (1) such Transfer is made in accordance with the requirements for Transfer set forth in Section 4(a)and Sections 4(d)of the Indiana Shareholders’ Agreement (without any waiver of such restrictions that may be permitted thereunder) and (2) prior to and as a condition to the effectiveness of such Transfer, each Person to which any of such Covered Indiana Shares or any interest in any of such Covered Indiana Shares is Transferred shall have executed and delivered to Saturn a Joinder pursuant to which such Person shall be bound by all of the terms and provisions hereof (including, but not limited, to Section 2.2).