Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 610

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 610
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 its Affiliates in connection with the repurposing of Applicable Spectrum.
Applicable Expenses shall be reduced by any reduction in actual cash Taxes payable in the taxable period of the payment or accrual of any unreimbursed fees or expenses described in the prior sentence by CVR Issuer or any of its Affiliates and
resulting directly from deductions arising from the payment of accrual of such unreimbursed fees or expenses, determined on a “with and without” basis with respect to any such fees or expenses paid or accrued, treating any such fees or
expenses paid or accrued as the last item paid or accrued in the applicable taxable period.

“” means
the CVR Issuer and its Affiliates’ usage rights for up to 100 MHz of the C-Band downlink spectrum at 3.98–4.2 GHz; that, if after the date hereof the CVR Issuer or any of its
Affiliates acquires, is acquired by or combines with (including in a Change of Control) any Entity (including Eutelsat S.A., Telesat Canada, Star One S.A. or any of such Entities’ Affiliates or Subsidiaries) (collectively, “”), Applicable Spectrum shall not include any C-Band downlink spectrum of such Other Entities, and any monetization of such C-Band downlink spectrum
shall not be included in the determination of Gross Proceeds, Net Proceeds or Applicable Consideration.

“” means a sale or transfer of Applicable Spectrum by the CVR Issuer; that a “sale” or “transfer” shall not include the provision of third party use rights with respect to Applicable Spectrum
(e.g., a spectrum leasing arrangement); that such provision does not restrict the CVR Issuer’s and its Affiliates’ ability to monetize such Applicable Spectrum pursuant to an event of Qualified Monetization;
, , that if such provision of use rights partially restricts such monetization by the CVR Issuer (e.g., granting partial rights to monetization to such third party), the Applicable Spectrum shall be deemed sold or
transferred only to the extent of such restriction.

“” has the meaning set forth in
.

“” means, solely for purposes of and as used in
and , with respect to any Beneficial Owner, the securities entitlement held by such Beneficial Owner in the CVRs it Beneficially Owns.

“” means, solely for purposes of and