Company: NGVT
Filing Date: 2025-09-04
Form Type: 8-K
Source: 0001493152-25-012603
Chunk: 1

Company: Ingevity Corp
Filing Date: 2025-09-04
Form: 8-K
Item: Item 1.01
Chunk 1
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 Agreement), (ii) Purchaser’s receipt of an ALTA/NSPS Land Title Survey that
delineates the Ground Lease Parcel (as defined in the Purchase Agreement) from other real property owned by Ingevity or third parties
and (iii) Purchaser’s receipt of an ALTA commitment for title insurance insuring Purchaser’s leasehold interest in the Ground
Lease Parcel. The Transaction is not subject to a financing or similar condition.

The
Purchase Agreement contains customary termination rights for Ingevity and Purchaser. Subject to certain limitations, the Purchase Agreement
may be terminated by either party if (a) the Transaction is not consummated by January 31, 2026, (b) there has been a material breach
of or failure to perform any representation, warranty, covenant or obligation of the other party that would give rise to the failure
of a closing condition (subject to customary cure rights within 30 days of receipt of written notice) or (c) if any governmental authority
issues or enacts any law or order that is final and non-appealable restraining, enjoining or otherwise prohibiting the consummation of
the Transaction. The Purchase Agreement may also be terminated by mutual written agreement of the parties.

In
the event that the Purchase Agreement is terminated by either party due to a material breach by the other party (as described in clause
“(b)” in the preceding paragraph), the breaching party will be obligated to pay a termination fee of $5 million to the non-breaching
party. Further, Ingevity will be obligated to pay a termination fee of $7.5 million in the event Purchaser terminates the Purchase Agreement
solely as a result of Ingevity’s agreement to enter into an Alternative Transaction (as defined in the Purchase Agreement) in breach
of the “no shop” provision described below. Additionally, except in the case of a termination by Ingevity pursuant to clause
“(b)” described in the preceding paragraph, Ingevity will be obligated to pay Purchaser a termination diligence fee of $520,000
upon termination of the Purchase Agreement under any other circumstance described in the preceding paragraph. In no event shall the
aggregate amount of the termination fee payable by Ingevity exceed $7,500,000, which will be payable in addition to such termination
diligence fee.

The
Purchase Agreement also provides that, in certain circumstances, either party may seek to compel the other