Company: KG
Filing Date: 2025-03-10
Form Type: S-4
Source: 0001104659-25-021993
Chunk: 322

Company: Kestrel Group Ltd
Filing Date: 2025-03-10
Form: S-4
Chunk 322
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 credit agreement, debenture, note, bond, mortgage, indenture, deed, lease, sublease, license, contract or other written agreement, to which such Person is a party or by which such Person’s assets or properties are legally bound.

“ Contracting Parties ” has the meaning set forth in Section 10.14 .

“ Designated Equityholders ” means Kestrel Intermediate Ledbetter Holdings LLC and AmTrust.

“ Dissenting Shares ” means Parent Shares held by a holder of Parent Shares who (a) did not vote in favor of the First Merger, (b) complied with all of the provisions of the Bermuda Companies Act concerning the right of holders of Parent Shares to require appraisal of their Parent Shares pursuant to the Bermuda Companies Act and (c) did not fail to exercise such right to appraisal or did not deliver an Appraisal Withdrawal.

“ DLLCA ” means the Delaware Limited Liability Company Act.

“ Earnout Shares ” has the meaning set forth in Section 2.01(b) .

“ EBITDA ” means the earnings attributable to the Kestrel Business before interest, Taxes, depreciation and amortization attributable to the Kestrel Business, as determined in accordance with GAAP and on the basis of financial information contained in the “Insurance Programs” reporting segment section(s) of Bermuda NewCo’s Annual Report on Form 10-K.

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TABLE OF CONTENTS

“ EBITDA Calculations ” means: (a) for the First Measurement Period, the Measurement EBITDA for the First Measurement Period; (b) for the Second Measurement Period, the Measurement EBITDA for the Second Measurement Period; and (c) for the Third Measurement Period, the Measurement EBITDA for the Third Measurement Period.

“ EBITDA Disputed Items ” has the meaning set forth in Section 2.01(c) .

“ EBITDA Objection Notice ” has the meaning set forth in Section 2.01(c) .

“ EBITDA Resolved Matters ” has the meaning set forth in Section 2.01(c) .

“ EBITDA Statement ” has the meaning set forth in Section 2.01(c) .

“ Employment Agreements ” has the meaning set forth in the recitals.

“ ERISA ” means the Employee Retirement Income Security Act of 1974.

“ Exchange Act ” has the meaning set forth in Section 4.04 .

“ Exchange Fund ” has the meaning set forth in Section 3.05(a