Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-308654
Chunk: 125

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 125
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 (except to the extent expressly made as of an earlier date, in which case as of such date); (iii) the representations and warranties of the Company set forth in that are qualified by a “Company Material Adverse
Effect” qualification shall be true and correct in all respects as so qualified at and as of the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date); and
(iv) the other representations and warranties of the Company set forth in shall be true and correct at and as of the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in
which case as of such date), except with respect to this clause (iv) where the failure of such representations and warranties to be so true and correct would not have, individually or in the aggregate, a Company Material Adverse Effect.

(b) The Company shall have performed in all material respects all obligations and complied in all material respects with all covenants
required by this Agreement to be performed or complied with by it prior to the Closing.

(c) Since the date of this Agreement, there shall
not have occurred any Company Material Adverse Effect.

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(d) The Company shall have delivered to Buyer a certificate, dated as of the Closing Date
and signed by its Chief Executive Officer or another senior officer, certifying to the effect that the conditions set forth in , and
have been satisfied.

Section 7.4 . No Party may
rely, either as a basis for not consummating the Merger or terminating this Agreement and abandoning the Merger, on the failure of any condition set forth
in, or, as the case may be, to be satisfied if such failure was caused by such Party’s material breach of any
covenant or agreement of this Agreement.

ARTICLE VIII

TERMINATION

Section 8.1
. This Agreement may be terminated and abandoned prior to the Effective Time, whether before or after any approval by the stockholders of the Company of the matters presented in connection with the Merger:

(a) by the mutual written consent of the Company and Buyer;

(b) by either the Company or Buyer, if:

(i) the Effective Time shall not have occurred on or before March 4, 2027, or such other date agreed in writing by Buyer and the Company
(any such date, the “”); provided, however, that (