Document:

Exhibit 10.18

 

PROMISSORY NOTE

 

I.M. Operating LLC

 

	$255,406.00	February 28, 2017

 

FOR VALUE RECEIVED,
I.M. Operating LLC (“Payor”), unconditionally promises to pay to the order of Scores Holding Company, Inc. (“Payee”),
in lawful money of the United States of America and in immediately available funds, the principal sum of Two Hundred Fifty-Five
Thousand Four Hundred and Six Dollars ($255,406.00), together with simple interest thereon at the rate of four percent (4%) per
annum which shall accrue on the principal amount of this Promissory Note (the “Note”), in accordance with the
terms and conditions of this Note and that certain Settlement Agreement (the “Settlement Agreement”), dated
the date hereof between Payor, Payee and Robert M. Gans. All capitalized terms not defined herein shall have the respective meanings
set forth in the Settlement Agreement.

 

1.           Maturity
Date. Provided that no Event of Default (as defined below) has occurred, the principal amount of this Note plus accrued interest
shall be payable by Payor to Payee on or before December 1, 2018 (the “Maturity Date”).

 

2.           Payment
of Interest and Principal. Payor shall pay to Payee payments of accrued and unpaid interest and principal in the following
manner:

 

		a.	Two equal monthly installments of Thirty Thousand Dollars ($30,000.00) on the first business day
of each month, commencing on March 1, 2017 through April 1, 2017;

 

		b.	Nineteen equal monthly installments of Ten Thousand Dollars ($10,000.00) on the first business
day of each month, commencing on May 1, 2017 through November 1, 2018; and

 

		c.	A final payment of Thirteen Thousand One Hundred Ninety-Five and 21/100 Dollars ($13,195.21) on
or before December 1, 2018.

 

3.           Events
of Default. The unpaid principal amount due hereunder, together with accrued and unpaid interest thereon, shall, at the election
of Payee, become immediately due and payable upon the occurrence of any of the following events (each an “Event of Default”):

 

		a.	Failure of Payor to make any payment required hereunder
no later than five (5) days after such payment is due;

 

		b.	Failure of Payor to remain current in its obligations
to Payee under its Licensing Agreement from and after the Effective Date;

 

		c.	Payor shall make an assignment for the benefit of creditors,
or appoint a committee of any creditors or a liquidating agent;

 

     

     

    

 

		d.	Filing against or by Payor or Guarantor of any proceeding
in bankruptcy or any proceeding, suit or action (at law, in equity or under any applicable federal or state law relating to bankruptcy)
for reorganization, composition with creditors, arrangement, receivership, liquidation, dissolution, or similar relief, which
is not discontinued within sixty (60) days from the date of filing;

 

		e.	A breach by Payor of any of the terms and conditions,
representations and warranties or covenants of this Note; or

 

		f.	A breach by Guarantor of any of the terms and conditions,
representations and warranties or covenants of the Settlement Agreement or the Guaranty.

 

After the occurrence
of an Event of Default, the unpaid principal amount of this Note shall bear interest from and including the date of such Event
of Default until paid in full at a rate per annum equal to twelve percent (12%), such interest to be payable on demand.

 

4.           Prepayments.
The principal amount of this Note may be prepaid in whole or in part at any time by Payor, without payment of any premium or penalty.
In the case of partial prepayment, prepayment shall first be applied to accrued unpaid interest, and then to principal.

 

5.           Waiver
of Diligence, Etc. Except as expressly set forth herein, Payor hereby waives diligence, presentment, demand, protest and notice
of any kind whatsoever. The non-exercise by Payee of any of its rights hereunder in any particular instance shall not constitute
a waiver thereof in that or any subsequent instance. Payor shall pay on demand all out-of-pocket costs and expenses of collection,
including reasonable attorney fees and expenses, incurred or paid by Payee in enforcing this Note.

 

6.           Notices.
Any notices, requests, demands and other communications required under this Note shall be in writing to the address set forth below
(or at such other address, email address or facsimile for a party as shall be specified by the notice) and shall be deemed to have
been duly given if (a) delivered by hand and receipted for by the party to which said notice or other communication shall have
been directed, (b) actually receipted by the party to which it is addressed, however transmitted, (c) two (2) business days after
being sent by reputable overnight courier prepaid for delivery in no more than two (2) business days; or (d) sent by facsimile
transmission or electronic mail:

 

	If to Payor:	I.M. Operating LLC
	 	c/o Metropolitan Lumber & Hardware
	 	617 11th Avenue
	 	New York, NY 10036
	 	Attn: Robert M. Gans
	 	 
	If to Payee:	Scores Holding Company, Inc.
	 	617 11th Avenue, 2nd Floor
	 	New York, NY 10036
	 	Attn: Howard Rosenbluth, Chief Financial Officer

 

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7.           Amendment.
This Note may not be modified, amended, waived, extended, changed, discharged or terminated orally or by any act or failure to
act on the part of Payor or the Payee, but only by an agreement in writing signed by Payor and Payee.

 

8.           Governing
Law. This Note shall be governed by and construed in accordance with the laws of the State of New York without giving effect
to the conflicts of law principles thereof. This Note may be enforced solely in, and in connection with, any action or proceeding
arising out of or relating to the transactions contemplated hereby. Payor irrevocably consents to the exclusive jurisdiction and
venue of the state or federal courts located in the State and County of New York.

 

Whenever used herein,
the words “Payor” and “Payee” shall include their respective successors, heirs, executors and administrators.

 

IN WITNESS WHEREOF, Payor has executed
this Note to be effective as of the day and year first above written.

 

	 	I.M. OPERATING LLC
	 	 	 
	 	By:	/s/ Robert M. Gans
	 	Name: Robert M. Gans
	 	Title: Authorized Signatory

 

    	 	3	 

     

    

 

PERSONAL GUARANTY

 

THIS GUARANTY (this
“Guaranty”) executed and delivered on February 28, 2017, by Robert M. Gans (the “Guarantor”)
to Scores Holding Company, Inc. (“Scores” or “Payee”).

 

WITNESSETH

 

WHEREAS, Scores
is a party to a certain licensing agreement (the “Licensing Agreement”) with I.M. Operating LLC (the “Licensee”);

 

WHEREAS, pursuant
to the Licensing Agreements, the Licensee owed Unpaid Royalties to Scores;

 

WHEREAS, Robert
M. Gans is the President, Chief Executive Officer, member of the Board of Directors and majority shareholder of Scores, as well
as a majority owner of the equity of the Licensee;

 

WHEREAS, simultaneously
herewith, Scores, the Licensee and Robert M. Gans are entering into a Settlement Agreement, effective as of February 28, 2017 (the
“Settlement Agreement”), under which, in settlement of any and all causes of actions or claims that could have
been asserted by Scores against the Licensee for the Unpaid Royalties, the Licensee agreed to pay a Settlement Amount to Scores,
payable pursuant to a Note, which bears simple interest at a rate of four percent (4%) annum;

 

WHEREAS, all capitalized
terms not defined herein shall have the respective meanings set forth in the Settlement Agreement;

 

WHEREAS, under to
the Settlement Agreement, Gans (“Guarantor”) agreed to personally guarantee the obligations of the Licensee
under the Note; and

 

WHEREAS, pursuant
to the Settlement Agreement, I.M. Operating LLC (“Payor”) executed a Note in favor of Scores in the principal
amount of Two Hundred Fifty-Five Thousand Four Hundred and Six Dollars ($255,406.00).

 

NOW, THEREFORE,
in consideration of the premises and covenants contained in this Guaranty, and in consideration of the above mentioned Note and
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Guarantor hereby agrees
as follows:

 

1.           Guarantor
hereby guarantees the full and prompt payment to Scores of any and all indebtedness, obligations and liabilities of every kind
and nature of the Payor to Scores, pursuant to the Note and the Settlement Agreement, whether now existing or hereafter created
or arising, whether direct or indirect, absolute or contingent, or joint or several; and the Guarantor further agrees to pay all
costs and expenses, legal and/or otherwise (including court costs and reasonable and invoiced attorneys’ fees), paid or incurred
by Scores (i) in endeavoring to collect any and all indebtedness, obligations and liabilities, or any part thereof, pursuant to
the Note and the Settlement Agreement and (ii) in protecting, defending or enforcing this Guaranty in any litigation, bankruptcy
or insolvency proceedings or otherwise.

 

    	 	1	 

     

    

 

2.           Guarantor
understands and agrees that this Guaranty shall be construed as a continuing, absolute and unconditional guarantee of payment and
performance (and not of collection) without regard to, and hereby irrevocably waives any defenses he may now or hereafter have
in any way relating to, the following: (a) the validity, regularity or enforceability of the Settlement Agreement, the Note, or
any other Settlement Documents, any of the Payor’s obligations or guarantee or right of offset with respect thereto at any
time or from time to time held by or for Payee, (b) any defense, setoff or counterclaim (other than a defense of payment or performance)
which may at any time be available to or be asserted by Payor against Payee, or (c) any other circumstance whatsoever (with or
without notice to or knowledge of Payor or such Guarantor) which constitutes, or might be construed to constitute, an equitable
or legal discharge of Payor of all or part of the Payor’s obligations, or of the Guarantor under this Guaranty, in bankruptcy
or in any other instance. This Guaranty may not be revoked by Guarantor and shall continue to be effective with respect to Payor’s
obligations arising or created after any attempted revocation by Guarantor.

 

3.           The
Guarantor acknowledges that he has full knowledge of the principal amount, interest charges and late payment fees as well as the
additional terms and conditions as set out in the Note.

 

4.           The
Guarantor acknowledges that he is making this Guaranty in his individual capacity and that he shall remain liable hereunder whether
or not he retains a financial interest in the Licensees.

 

5.           Upon
an Event of Default (as defined in the Note) by the Payor, the Guarantor shall assume full responsibility for the repayment of
the amounts due under the Note and the Payee shall not be obliged to seek recourse against the Payor prior to enforcing his/her
rights under this Guaranty. The Guarantor further undertakes to pay the Payee upon written demand and within five (5) business
days of receipt thereof all monies due and not paid by the Payor.

 

6.           The
obligations of the Guarantor under this Guaranty shall be absolute and unconditional, and shall remain in full force and effect
until the principal balance of the Note, all accrued but unpaid interest on the Note, and all other obligations referred to in
the Settlement Agreement and the other Settlement Documents, shall have been paid in full. The Guarantor further waives all defenses
based on suretyship or impairment of collateral.

 

7.           In
the event of default by the Guarantor, all reasonable legal fees, collection and enforcement charges to the extent permissible
by law, in addition to other amounts due, shall be payable by the Guarantor.

 

8.           No
relaxation, indulgence, waiver, release or concession extended to the Payor by the Payee and no delay or omission in the enforcement
of payment or exercising of any of the Payee's rights shall affect the liability of the Guarantor under this Guaranty.

 

    	 	2	 

     

    

 

9.           This
Guaranty shall be binding upon and accrue to the benefit of the parties, their heirs, executors, administrators, successors, legal
representatives and assigns.

 

10.         If
any clause or provision of this Guaranty is held illegal, invalid, or unenforceable by any court, this Guaranty shall be construed
and enforced as if such illegal, invalid, or unenforceable clause or provision had not been contained herein. In case any obligation,
covenant, or agreement contained in this Guaranty or in the Settlement Documents is held to be in violation of law, then such obligation,
covenant, or agreement shall be deemed to be the obligation, covenant, or agreement of the Guarantor to the full extent permitted
by law.

 

11.         This
Guaranty shall be construed, interpreted and governed in accordance with the laws of the State of New York without giving effect
to the conflicts of law principles thereof. This Guaranty may be enforced solely in, and in connection with, any action or proceeding
arising out of or relating to the transactions contemplated hereby. Guarantor irrevocably consents to the exclusive jurisdiction
and venue of the state or federal courts located in the County of New York.

 

[SIGNATURE PAGE FOLLOWS]

 

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This Guaranty shall
be considered signed and sealed as of the day and year written on the Promissory Note of which this Guaranty is a part, and is
intended to take effect as a single sealed instrument whether executed as one original or in several counterparts, and shall be
binding upon and inure to the benefit of Payee, its respective heirs, executors, administrators, successors and assigns.

 

	 	GUARANTOR:
	 	 
	 	/s/ Robert M. Gans
	 	Name: Robert M. Gans
	 	 
	 	Address:
	 	 
	 	c/o Metropolitan Lumber & Hardware
	 	617 11th Avenue, New York, NY 10036

 

Acknowledgment

 

	STATE OF _____________________	}
	 	 
	 	} ss.:
	 	 
	COUNTY OF ___________________	}

 

On the ____ day
of _________________ in the year 2017 before me, the undersigned, a Notary Public in and for said State, personally appeared Robert
M. Gans, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed
to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument,
the individual executed the instrument.

 

	 	 	 
	 	Notary Public	 

 

    	 	4Exhibit 10.13 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of [          ], 2017, among Capitol Acquisition Holding Company Ltd., an exempted company incorporated in the Cayman Islands with limited liability (the “Company”), Canyon Holdings (Cayman) L.P. (together with its Affiliates, “Canyon”) and each Person listed on the Schedule of Other Holders attached hereto and each other Person that acquires Ordinary Shares from the Company after the date hereof and becomes a party to this Agreement by the execution and
delivery of a Joinder (collectively, the “Other Holders”). Except as otherwise specified herein, all capitalized terms used in this Agreement are defined in Section 1. 

The Company and Canyon are parties to that certain Agreement and Plan of Merger, dated as of March 19, 2017 (as amended or modified, the “Merger Agreement”), pursuant to which Canyon received Ordinary Shares from the Company in exchange for all of its equity interests in Canyon Holdings S.À: R. L., a Luxembourg private limited liability company. In order to induce Canyon to enter into the Merger Agreement, the Company has agreed to provide the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the consummation of the transactions under the
Merger Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 

Section 1. Definitions.  Unless otherwise set forth below or elsewhere in this Agreement, other capitalized terms contained herein have the meanings set forth in the Merger Agreement. 

“Acquired Common” has the meaning set forth in Section 9. 

“Affiliate” of any Person means any other Person controlled by, controlling or under common control with such Person. As used in this definition, “control” (including, with its correlative meanings, “controlling,” “controlled by” and “under common control with”) shall mean possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities, by contract or otherwise). For purposes of this definition, the Company and its Subsidiaries shall not be deemed Affiliates of any party hereto. 

“Agreement” has the meaning set forth in the recitals. 

“Automatic Shelf Registration Statement” has the meaning set forth in Section 2(a). 

“Canyon” has the meaning set forth in the recitals. 

“Canyon Registrable Securities” means the Registrable Securities held by Canyon and any Person to whom it transfers or assigns its rights hereunder in accordance with Section 13(e). 

“Capital Stock” means (i) with respect to any Person that is a corporation, any and all shares, interests or equivalents in capital stock of such corporation (whether voting or nonvoting and whether common or preferred) and (ii) with respect to any Person that is not a corporation, individual or governmental entity, any and all partnership, membership, limited liability company or other equity interests of such Person that confer on the holder thereof the right to receive a share of the profits and losses of, or the distribution of assets of, the issuing Person, including in each case any and all warrants,
rights (including conversion and exchange rights) and options to purchase any of the foregoing. 

“Closing” has the meaning set forth in the Merger Agreement. 

“Company” has the meaning set forth in the preamble. 

“Demand Registrations” has the meaning set forth in Section 2(a). 

“End of Suspension Notice” has the meaning set forth in Section 2(f)(iii). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor federal law then in force, together with all rules and regulations promulgated thereunder. 

1

 

 

“FINRA” means the Financial Industry Regulatory Authority. 

“Free Writing Prospectus” means a free-writing prospectus, as defined in Rule 405. 

“Holdback Period” has the meaning set forth in Section 4(a). 

“Holder” means a holder of Registrable Securities. 

“Indemnified Parties” has the meaning set forth in Section 7(a). 

“Joinder” has the meaning set forth in Section 9. 

“Lock-up Period” has the meaning set forth in Section 12(c). 

“Long-Form Registrations” has the meaning set forth in Section 2(a). 

“Merger Agreement” has the meaning set forth in the recitals. 

“Ordinary Shares” means the Company’s ordinary shares, par value $0.0001 per share. 

“Other Holders” has the meaning set forth in the recitals. 

“Permitted Sponsor Sale Transaction” the meaning set forth in Section 12(c)(iii)(4). 

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 

“Piggyback Registrations” has the meaning set forth in Section 3(a). 

“Public Offering” means any sale or distribution by the Company and/or holders of Registrable Securities to the public of Ordinary Shares pursuant to an offering registered under the Securities Act. 

“Registrable Securities” means (i) any Ordinary Shares issued in connection with the transactions contemplated by the Merger Agreement, (ii) any Warrants or any Ordinary Shares issued or issuable upon exercise thereof, (iii) any common Capital Stock of the Company or any Subsidiary of the Company issued or issuable with respect to the securities referred to in clause (i) or (ii) above by way of dividend, distribution, split or combination of securities, or any recapitalization, merger, consolidation or other reorganization, and (iv) any other Ordinary Shares held by Persons holding securities
described in clauses (i) – (iii) above. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when they have been (a) sold or distributed pursuant to a Public Offering, (b) sold in compliance with Rule 144 or (c) repurchased by the Company or a Subsidiary of the Company. For purposes of this Agreement, a Person shall be deemed to be a holder of Registrable Securities, and the Registrable Securities shall be deemed to be in existence, whenever such Person has the right to acquire, directly or indirectly, such Registrable Securities (upon conversion or exercise in connection with a transfer of securities or otherwise, but disregarding any restrictions or limitations upon the exercise of such right), whether or not such acquisition has actually been effected, and such Person shall be entitled to exercise the rights of a holder of Registrable Securities hereunder. Notwithstanding the foregoing, any securities held
by a Person that, together with its Affiliates, collectively beneficially owns less than 2% of the outstanding Ordinary Shares shall cease to constitute Registrable Securities at such time as such securities may be sold under Rule 144 without regard to volume and manner of sale restrictions. 

“Registration Expenses” has the meaning set forth in Section 6(a). 

“Restricted Shares” has the meaning set forth in Section 12(c). 

“Rule 144”, “Rule 158”, “Rule 405”, “Rule 415”, “Rule 430B” and “Rule 462” mean, in each case, such rule promulgated under the Securities Act (or any successor provision) by the Securities and Exchange Commission, as the same shall be amended from time to time, or any successor rule then in force. 

“Sale of the Company” means any transaction or series of related transactions pursuant to which any Person(s) or a group of related Persons (other than, in each case, Canyon and its Affiliates) in the aggregate acquires (i) Capital Stock of the Company or the surviving entity entitled to vote (other than voting rights 

2

 

 

accruing only in the event of a default, breach, event of noncompliance or other contingency) to elect directors with a majority of the voting power of the Company’s or the surviving entity’s board of directors (whether by merger, consolidation, reorganization, combination, sale or transfer of the Company’s Capital Stock) or (ii) all or substantially all of the Company’s assets determined on a consolidated basis; provided that a Public Offering shall not constitute a Sale of the Company. 

“Sale Transaction” has the meaning set forth in Section 4(a). 

“Securities” has the meaning set forth in Section 4(a). 

“Securities Act” means the Securities Act of 1933, as amended from time to time, or any successor federal law then in force, together with all rules and regulations promulgated thereunder. 

“Shelf Offering” has the meaning set forth in Section 2(d)(ii). 

“Shelf Offering Notice” has the meaning set forth in Section 2(d)(ii). 

“Shelf Registration” has the meaning set forth in Section 2(a). 

“Shelf Registrable Securities” has the meaning set forth in Section 2(d)(ii). 

“Shelf Registration Statement” has the meaning set forth in Section 2(d)(i). 

“Short-Form Registrations” has the meaning set forth in Section 2(a). 

“Sponsor” shall mean Capitol Acquisition Management 3 LLC. 

“Sponsor Board Trigger Event” means from and after the third anniversary of the Closing, Mark D. Ein is not re-nominated or re-elected to (or otherwise is no longer a member of) the board of directors of the Company. 

“Sponsor Demand Trigger Event” means (i) any Sponsor Board Trigger Event or (ii) any of GTCR Fund X/A AIV LP, GTCR Fund X/C AIV LP, or GTCR Co-Invest X AIV LP (the “GTCR Funds”) effectuates a distribution or other transfer pursuant to Section 5(d) and following such distribution the amount of Sponsor Registrable Securities exceeds the amount of Canyon Registrable Securities held directly or indirectly by the GTCR Funds. 

“Sponsor Registrable Securities” means the Registrable Securities held by the Sponsor, its Affiliates and any Person to whom it transfers or assigns its rights hereunder in accordance with Section 13(e). 

“Subsidiary” means, with respect to the Company, any corporation, limited liability company, partnership, association or other business entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by the Company or one or more of the other Subsidiaries of the Company or a combination thereof, or (ii) if a limited liability company, partnership, association or other business entity, a majority
of the limited liability company, partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by the Company or one or more Subsidiaries of the Company or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity if such Person or Persons shall be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or control the managing director or general partner of such limited liability company, partnership, association or other business entity. 

“Suspension Event” has the meaning set forth in Section 2(f)(iii). 

“Suspension Notice” has the meaning set forth in Section 2(f)(iii). 

“Suspension Period” has the meaning set forth in Section 2(f)(ii). 

“Violation” has the meaning set forth in Section 7(a). 

“Warrants” means the Company’s warrants, each exercisable for one Ordinary Share. 

“WKSI” means a “well-known seasoned issuer” as defined under Rule 405. 

3

 

 

Section 2. Demand Registrations 

(a) Requests for Registration.  Subject to the terms and conditions of this Agreement, (i) at any time after the Closing under the Merger Agreement, the holders of at least a majority of the Canyon Registrable Securities may request registration under the Securities Act of all or any portion of their Registrable Securities on Form S-1 or any similar long-form registration (“Long-Form Registrations”), or on Form S-3 or any similar short-form registration (“Short-Form Registrations”) if available and (ii) at any time after a Sponsor Demand Trigger Event, the holders of at least a
majority of the Sponsor Registrable Securities may request a registration under the Securities Act of all or any portion of their Registrable Securities on a Long-Form Registration or on a Short-Form Registration, if available. All registrations requested pursuant to this Section 2(a) are referred to herein as “Demand Registrations”. The holders of a majority of the Canyon Registrable Securities or Sponsor Registrable Securities, as applicable, making a Demand Registration may request that the registration be made pursuant to Rule 415 under the Securities Act (a “Shelf Registration”) and, if the Company is a WKSI at the time any request for a Demand Registration is submitted to the Company, that such Shelf Registration be an automatic shelf registration statement (as defined in Rule 405 under the Securities Act) (an “Automatic Shelf Registration Statement”). Each request for a Demand Registration shall specify the approximate
number of Registrable Securities requested to be registered and the intended method of distribution. Within ten days after receipt of any such request, the Company shall give written notice of the Demand Registration to all other holders of Registrable Securities and, subject to the terms of Section 2(e), shall include in such Demand Registration (and in all related registrations and qualifications under state blue sky laws and in any related underwriting) all Registrable Securities with respect to which the Company has received written requests for inclusion therein within ten days after the holders’ receipt of the Company’s notice. Each Holder agrees that such Holder shall treat as confidential the receipt of the notice of Demand Registration and shall not disclose or use the information contained in such notice of Demand Registration without the prior written consent of the Company until such time as the information contained therein is or becomes available to the
public generally, other than as a result of disclosure by the Holder in breach of the terms of this Agreement. 

(b) Long-Form Registrations.  The holders of a majority of the Canyon Registrable Securities shall be entitled to unlimited Long-Form Registrations in which the Company shall pay all Registration Expenses; provided that the aggregate offering value of the Registrable Securities requested to be registered in any Long-Form Registration must equal at least $10,000,000. If a shelf registration is not then effective with respect to the Sponsor Registrable Securities, the holders of a majority of the Sponsor Registrable Securities shall be entitled to one (1) Long-Form Registration in which the Company shall
pay all Registration Expenses; provided that the aggregate offering value of the Sponsor Registrable Securities requested to be registered in such Long-Form Registration must equal at least $10,000,000. All Long-Form Registrations shall be underwritten registrations unless otherwise approved by the holders of a majority of the Canyon Registrable Securities or Sponsor Registrable Securities, as applicable, requesting registration. 

(c) Short-Form Registrations.  In addition to the Long-Form Registrations provided pursuant to Section 2(b), the holders of a majority of the Canyon Registrable Securities shall be entitled to an unlimited number of Short-Form Registrations in which the Company shall pay all Registration Expenses; provided that the aggregate offering value of the Registrable Securities requested to be registered in any Short-Form Registration must equal at least $10,000,000. In place of the right to one Long-Form Registration provided pursuant to Section 2(b), if a shelf registration is not then effective
with respect to the Sponsor Registrable Securities, the holders of a majority of the Sponsor Registrable Securities shall be entitled to one (1) Short-Form Registration in which the Company shall pay all Registration Expenses; provided that the aggregate offering value of the Sponsor Registrable Securities requested to be registered in such Short-Form Registration must equal at least $10,000,000. If a shelf registration is effective with respect to the Sponsor Registrable Securities, following a Sponsor Demand Trigger Event, in lieu of a Demand Registration, the holders of majority of the Sponsor Registrable Securities shall be entitled to request one underwritten shelf takedown in lieu of the one (1) Demand Registration provided in Section 2(a) (such Demand Registration or underwritten shelf offering referred to herein as the “Sponsor Demand”). Demand Registrations shall be Short-Form Registrations whenever the Company is permitted to use any applicable short
form and if the managing underwriters (if any) agree to the use of a Short-Form Registration. 

4

 

 

(d) Shelf Registrations. 

(i) The Company shall use its reasonable best efforts to prepare a registration statement under the Securities Act for the Shelf Registration (the “Shelf Registration Statement”) with respect to all of the Registrable Securities (or such other number of Registrable Securities specified in writing by the Holder thereof) to enable such Shelf Registration Statement to be filed with the SEC within six months following the Closing under the Merger Agreement. The Company will notify each holder of Registrable Securities within five Business Days of the filing of such Shelf Registration Statement. 

(ii) In the event that a Shelf Registration Statement is effective, the holders of a majority of the Canyon Registrable Securities (or, in the case of the Sponsor Demand, the holders of a majority of the Sponsor Registrable Securities) covered by such Shelf Registration Statement shall have the right at any time or from time to time to elect to sell pursuant to an offering (including an underwritten offering) Registrable Securities available for sale pursuant to such registration statement (“Shelf Registrable Securities”), so long as the Shelf Registration Statement remains in effect, and the Company shall pay
all Registration Expenses in connection therewith; provided that, in the case of the Sponsor Demand no such underwritten offering shall be permitted unless the aggregate offering price of the Sponsor Registrable Securities to be sold in such underwritten offering exceeds $10,000,000. The holders of a majority of the Canyon Registrable Securities (or, in the case of the Sponsor Demand, a majority of the Sponsor Registrable Securities) shall make such election by delivering to the Company a written notice (a “Shelf Offering Notice”) with respect to such offering specifying the number of Shelf Registrable Securities that the holders desire to sell pursuant to such offering (the “Shelf Offering”). As promptly as practicable, but no later than two Business Days after receipt of a Shelf Offering Notice, the Company shall give written notice of such Shelf Offering Notice to all other holders of Shelf Registrable Securities. The Company, subject to Sections
2(e) and 8 hereof, shall include in such Shelf Offering the Shelf Registrable Securities of any other holder of Shelf Registrable Securities that shall have made a written request to the Company for inclusion in such Shelf Offering (which request shall specify the maximum number of Shelf Registrable Securities intended to be disposed of by such holder) within five Business Days after the receipt of the Shelf Offering Notice. The Company shall, as expeditiously as possible (and in any event within 20 days after the receipt of a Shelf Offering Notice), but subject to Section 2(f) hereof, use its reasonable best efforts to facilitate such Shelf Offering. Each Holder agrees that such Holder shall treat as confidential the receipt of the Shelf Offering Notice and shall not disclose or use the information contained in the Company’s notice regarding the Shelf Offering Notice without the prior written consent of the Company and the Holders of Registrable Securities delivering such Shelf
Offering Notice until such time as the information contained therein is or becomes available to the public generally, other than as a result of disclosure by the Holder in breach of the terms of this Agreement. 

(iii) If the holders of a majority of the Canyon Registrable Securities (or, in the case of the Sponsor Demand, the holders of a majority of the Sponsor Registrable Securities, subject to the restrictions set forth in clause (ii) above) wish to engage in an underwritten block trade off of a Shelf Registration Statement (either through filing an Automatic Shelf Registration Statement or through a take-down from an already existing Shelf Registration Statement), then notwithstanding the time periods set forth in Section 2(d)(ii), such holders shall notify the Company of the block trade Shelf Offering not less than two
Business Days prior to the day such offering is to commence. The Company shall promptly notify other holders of Registrable Securities of such block trade Shelf Offering and such other holders of Registrable Securities must elect whether or not to participate by the next Business Day (i.e. one Business Day prior to the day such offering is to commence) (unless a longer period is agreed to by the holders of a majority of the Canyon Registrable Securities (or, in the case of the Sponsor Demand, a majority of the Sponsor Registrable Securities, as applicable) wishing to engage in the underwritten block trade) and the Company shall as expeditiously as possible use its reasonable best efforts to facilitate such offering (which may close as early as three Business Days after the date it commences); provided that the holders of a majority of the Canyon Registrable Securities (or, in the case of the Sponsor Demand, a majority of the Sponsor Registrable Securities) shall use
commercially reasonable efforts to work with the 

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Company and the underwriters prior to making such request in order to facilitate preparation of the registration statement, prospectus and other offering documentation related to the underwritten block trade. 

(iv) The Company shall, at the request of the holders of a majority of the Canyon Registrable Securities (or in the case of the Sponsor Demand, a majority of the Sponsor Registrable Securities, as applicable) covered by a Shelf Registration Statement, file any prospectus supplement or any post-effective amendments and otherwise take any action necessary to include therein all disclosure and language deemed necessary or advisable by the holders of a majority of the Registrable Securities to effect such Shelf Offering. 

(e) Priority on Demand Registrations and Shelf Offerings.  The Company shall not include in any Demand Registration or Shelf Offering any securities which are not Registrable Securities without the prior written consent of the holders of at least a majority of the Registrable Securities initially requesting such registration. If a Demand Registration or a Shelf Offering is an underwritten offering and the managing underwriters advise the Company in writing that in their opinion the number of Registrable Securities and, if permitted hereunder, other securities requested to be included in such offering exceeds
the number of Registrable Securities and other securities, if any, which can be sold therein without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Company shall include in such offering prior to the inclusion of any securities which are not Registrable Securities the number of Registrable Securities requested to be included which, in the opinion of such underwriters, can be sold, without any such adverse effect, pro rata among the respective holders thereof on the basis of the amount of Registrable Securities owned by each such holder. 

(f) Restrictions on Demand Registration and Shelf Offerings.

(i) The Company shall not be obligated to effect any Demand Registration or underwritten Shelf Offering within 90 days after the effective date of a previous Demand Registration or a previous registration in which Registrable Securities were included pursuant to Section 3 and in which there was no reduction in the number of Registrable Securities requested to be included. 

(ii) The Company may postpone, for up to 90 days from the date of the request (the “Suspension Period”), the filing or the effectiveness of a registration statement for a Demand Registration or suspend the use of a prospectus that is part of a Shelf Registration Statement (and therefore suspend sales of the Shelf Registrable Securities) by providing written notice to the holders of Registrable Securities if (A) the Company’s board of directors determines in its reasonable good faith judgment that the offer or sale of Registrable Securities would reasonably be expected to have a material adverse effect on
any proposal or plan by the Company or any Subsidiary to engage in any material acquisition of assets or stock (other than in the ordinary course of business) or any material merger, consolidation, tender offer, recapitalization, reorganization or other transaction involving the Company, (B) the sale of Registrable Securities pursuant to the registration statement would require disclosure of non-public material information not otherwise required to be disclosed under applicable law, and (C) (x) the Company has a bona fide business purpose for preserving the confidentiality of such transaction or (y) disclosure would have a material adverse effect on the Company or the Company’s ability to consummate such transaction, or (z) such transaction renders the Company unable to comply with requirements of the Securities and Exchange Commission, in each case under circumstances that would make it impractical or inadvisable to cause the Shelf Registration Statement (or such filings) to
become effective or to promptly amend or supplement the Shelf Registration Statement on a post effective basis, as applicable; provided that in such event, the holders of Registrable Securities initially requesting such Demand Registration shall be entitled to withdraw such request, and if such request is withdrawn, such Demand Registration shall not count as one of the permitted Demand Registrations hereunder and the Company shall pay all Registration Expenses in connection with such registration. The Company may delay or suspend the effectiveness of a Demand Registration or Shelf Offering pursuant to this Section 2(f)(ii) only once in any twelve-month period; provided that, for the avoidance of doubt, the Company may in any event delay or suspend the effectiveness of Demand Registration or Shelf Offering in the case of an event described under Section 5(a)(vi) to enable it to comply with its obligations set forth in Section 5(a)(vi).  The Company

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may extend the Suspension Period for an additional consecutive 60 days with the consent of the holders of a majority of the Registrable Securities initially requesting such registration. 

(iii) In the case of an event that causes the Company to suspend the use of a Shelf Registration Statement as set forth in paragraph (f)(i) above or pursuant to Section 5(a)(vi) (a “Suspension Event”), the Company shall give a notice to the holders of Registrable Securities registered pursuant to such Shelf Registration Statement (a “Suspension Notice”) to suspend sales of the Registrable Securities and such notice shall state generally the basis for the notice and that such suspension shall continue only for so long as the Suspension Event or its effect is continuing. A holder of Registrable
Securities shall not effect any sales of its Registrable Securities pursuant to such Shelf Registration Statement (or such filings) at any time after it has received a Suspension Notice from the Company and prior to receipt of an End of Suspension Notice (as defined below). Each holder of Registrable Securities agrees that it shall treat as confidential the receipt of the Suspension Notice and shall not disclose or use the information contained in such Suspension Notice without the prior written consent of the Company until such time as the information contained therein is or becomes available to the public generally, other than as a result of disclosure by such holder of Registrable Securities in breach of the terms of this Agreement. A holder of Registrable Securities may recommence effecting sales of the Registrable Securities pursuant to the Shelf Registration Statement (or such filings) following further written notice to such effect (an “End of Suspension Notice
”) from the Company, which End of Suspension Notice shall be given by the Company to the holders and to the holders’ counsel, if any, promptly following the conclusion of any Suspension Event. 

(iv) Notwithstanding any provision herein to the contrary, if the Company shall give a Suspension Notice with respect to any Shelf Registration Statement pursuant to this Section 2(f), the Company agrees that it shall extend the period of time during which such Shelf Registration Statement shall be maintained effective pursuant to this Agreement by the number of days during the period from the date of receipt by the holders of the Suspension Notice to and including the date of receipt by the holders of the End of Suspension Notice and provide copies of the supplemented or amended prospectus necessary to resume sales, with
respect to each Suspension Event; provided that such period of time shall not be extended beyond the date that Ordinary Shares covered by such Shelf Registration Statement are no longer Registrable Securities. 

(g) Selection of Underwriters.  The holders of a majority of the Registrable Securities included in any Demand Registration shall have the right to select the investment banker(s) and manager(s) to administer the offering. If any Shelf Offering is an underwritten offering, the holders of a majority of the Registrable Securities participating in such underwritten offering shall have the right to select the investment banker(s) and manager(s) to administer the offering relating to such Shelf Offering. The Company represents and warrants that no investment bankers are entitled to any rights that would conflict
with the rights of the Holders under this section. 

(h) Other Registration Rights.  The Company represents and warrants that it is not a party to, or otherwise subject to, any other agreement granting registration rights to any other Person with respect to any securities of the Company. Except as provided in this Agreement, the Company shall not grant to any Persons the right to request the Company or any Subsidiary to register any Capital Stock of the Company or any Subsidiary, or any securities convertible or exchangeable into or exercisable for such securities, without the prior written consent of the holders of a majority of the Registrable Securities; 
provided that the Company may grant rights to other Persons to participate in Piggyback Registrations so long as such rights are subordinate to the rights of the holders of Registrable Securities with respect to such Piggyback Registrations as set forth in Sections 3(c) and Section 3(d). 

(i) Revocation of Demand Notice or Shelf Offering Notice.  At any time prior to the effective date of the Registration Statement relating to a Demand Registration or the “pricing” of any offering relating to a Shelf Offering Notice, the holders of Registrable Securities that provided such Demand Notice or Shelf Offering Notice may revoke such Demand Notice or Shelf Offering Notice on behalf of all holders of Registrable Securities participating in such Demand Registration or Shelf Offering without liability to such holders of Registrable Securities, in each case by providing written notice to the
Company. 

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Section 3. Piggyback Registrations. 

(a) Right to Piggyback.  Whenever the Company proposes to register any of its securities under the Securities Act (other than (i) pursuant to a Demand Registration in which the holders of Registrable Securities are offered the right to participate pro rata or (ii) in connection with registrations on Form S-4 or S-8 promulgated by the Securities and Exchange Commission or any successor or similar forms in which Canyon Registrable Securities are not included) and the registration form to be used may be used for the registration of Registrable Securities (a “Piggyback Registration”), the Company
shall give written notice within three Business Days after the filing of the registration statement relating to the Piggyback Registration to all holders of Registrable Securities of its intention to effect such Piggyback Registration and, subject to the terms of Section 3(c) and Section 3(d), shall include in such Piggyback Registration (and in all related registrations or qualifications under blue sky laws and in any related underwriting) all Registrable Securities with respect to which the Company has received written requests for inclusion therein within 20 days after delivery of the Company’s notice. 

(b) Piggyback Expenses.  The Registration Expenses of the holders of Registrable Securities shall be paid by the Company in all Piggyback Registrations, whether or not any such registration became effective. 

(c) Priority on Primary Registrations.  If a Piggyback Registration is an underwritten primary registration on behalf of the Company, and the managing underwriters advise the Company in writing that in their sole opinion the number of securities requested to be included in such registration exceeds the number which can be sold in such offering without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Company shall include in such registration (i) first, the securities the Company proposes to sell, (ii) second, the Registrable Securities
requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect, pro rata among the holders of such Registrable Securities on the basis of the number of shares owned by each such holder, and (iii) third, other securities requested to be included in such registration which, in the sole opinion of the underwriters, can be sold without any such adverse effect. 

(d) Priority on Secondary Registrations.  If a Piggyback Registration is an underwritten secondary registration on behalf of holders of the Company’s securities, and the managing underwriters advise the Company in writing that in their reasonable opinion the number of securities requested to be included in such registration exceeds the number which can be sold in such offering without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Company shall include in such registration (i) first, the securities requested to be included therein by
the holders initially requesting such registration and the Registrable Securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect, pro rata among the holders of such securities on the basis of the number of Registrable Securities owned by each such holder, and (ii) second, other securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect. 

(e) Selection of Underwriters.  If any Piggyback Registration is an underwritten offering, the selection of investment banker(s) and manager(s) for the offering must be approved by the holders of a majority of the Registrable Securities included in such Piggyback Registration. Such approval shall not be unreasonably withheld, conditioned or delayed. 

(f) Right to Terminate Registration.  The Company shall have the right to terminate or withdraw any registration initiated by it as a primary offering under this Section 3 whether or not any holder of Registrable Securities has elected to include securities in such registration. The Registration Expenses of such withdrawn registration shall be borne by the Company in accordance with Section 6. 

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Section 4. Holdback Agreements. 

(a) Holders of Registrable Securities.  Each and every holder of Registrable Securities shall enter into lock-up agreements with the managing underwriter(s) of an underwritten Public Offering providing that, unless the underwriters managing such underwritten Public Offering otherwise agree in writing, subject to customary exceptions such holder shall not (A) offer, sell, contract to sell, pledge or otherwise dispose of (including sales pursuant to Rule 144), directly or indirectly, any Capital Stock of the Company (including Capital Stock of the Company that may be deemed to be owned beneficially by such holder
in accordance with the rules and regulations of the Securities and Exchange Commission) (collectively, “Securities”), (B) enter into a transaction which would have the same effect as described in clause (A) above, (C) enter into any swap, hedge or other arrangement that transfers, in whole or in part, any of the economic consequences or ownership of any Securities, whether such transaction is to be settled by delivery of such Securities, in cash or otherwise (each of (A), (B) and (C) above, a “Sale Transaction”), or (D) publicly disclose the intention to enter into any Sale Transaction, commencing on the earlier of the date on which the Company gives notice to the holders of Registrable Securities that a preliminary prospectus has been circulated for such Public Offering or the “pricing” of such offering and continuing to the date that is 90 days following the date of the final prospectus for such Public Offering (the “Holdback
Period”). 

(b) The Company.  The Company (i) shall not file any registration statement for a Public Offering or cause any such registration statement to become effective, or effect any public sale or distribution of its equity securities, or any securities, options or rights convertible into or exchangeable or exercisable for such securities during any Holdback Period and (ii) shall use its reasonable best efforts to cause (A) each holder of at least 2% (on a fully-diluted basis) of its Ordinary Shares, or any securities convertible into or exchangeable or exercisable for Ordinary Shares, and (B) each of its directors and
executive officers to agree not to effect any Sale Transaction during any Holdback Period, except as part of such underwritten registration, if otherwise permitted, unless the underwriters managing the Public Offering otherwise agree in writing. 

Section 5. Registration Procedures. 

(a) Whenever the holders of Registrable Securities have requested that any Registrable Securities be registered pursuant to this Agreement or have initiated a Shelf Offering, the Company shall use its reasonable best efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method of disposition thereof, and pursuant thereto the Company shall as expeditiously as possible: 

(i) in accordance with the Securities Act and all applicable rules and regulations promulgated thereunder, prepare and file with the Securities and Exchange Commission a registration statement, and all amendments and supplements thereto and related prospectuses, with respect to such Registrable Securities and use its reasonable best efforts to cause such registration statement to become effective (provided that before filing a registration statement or prospectus or any amendments or supplements thereto, the Company shall furnish to the counsel selected by the holders of a majority of the Registrable Securities covered by such
registration statement copies of all such documents proposed to be filed, which documents shall be subject to the review and comment of such counsel); 

(ii) notify each holder of Registrable Securities of (A) the issuance by the Securities and Exchange Commission of any stop order suspending the effectiveness of any registration statement or the initiation of any proceedings for that purpose, (B) the receipt by the Company or its counsel of any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose, and (C) the effectiveness of each registration statement filed hereunder; 

(iii) prepare and file with the Securities and Exchange Commission such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective for a period ending when all of the securities covered by such registration statement have been disposed of in accordance with the intended methods of distribution by the sellers thereof set forth in such registration statement (but not in any event before the expiration of any longer period required under the Securities Act or, if such registration statement relates to an underwritten
Public Offering, such longer period as in the opinion of counsel for the underwriters a 

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prospectus is required by law to be delivered in connection with sale of Registrable Securities by an underwriter or dealer) and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such registration statement; 

(iv) furnish to each seller of Registrable Securities thereunder such number of copies of such registration statement, each amendment and supplement thereto, the prospectus included in such registration statement (including each preliminary prospectus), each Free Writing Prospectus and such other documents as such seller may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such seller; 

(v) use its reasonable best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of such jurisdictions as any seller reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller (provided that the Company shall not be required to (A) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph, (B) consent to general service of
process in any such jurisdiction or (C) subject itself to taxation in any jurisdiction where it would not otherwise be subject to taxation); 

(vi) notify each seller of such Registrable Securities (A) promptly after it receives notice thereof, of the date and time when such registration statement and each post-effective amendment thereto has become effective or a prospectus or supplement to any prospectus relating to a registration statement has been filed and when any registration or qualification has become effective under a state securities or blue sky law or any exemption thereunder has been obtained, (B) promptly after receipt thereof, of any request by the Securities and Exchange Commission for the amendment or supplementing of such registration statement or
prospectus or for additional information, and (C) at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, subject to Section 2(f), at the request of any such seller, the Company shall use its reasonable best efforts to prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading; 

(vii) use reasonable best efforts to cause all such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if not so listed, to be listed on a securities exchange and, without limiting the generality of the foregoing, to arrange for at least two market makers to register as such with respect to such Registrable Securities with FINRA; 

(viii) use reasonable best efforts to provide a transfer agent and registrar for all such Registrable Securities not later than the effective date of such registration statement; 

(ix) enter into and perform such customary agreements (including underwriting agreements in customary form) and take all such other actions as the holders of a majority of the Registrable Securities being sold or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (including, without limitation, effecting a stock split, combination of shares, recapitalization or reorganization); 

(x) make available for inspection by any seller of Registrable Securities, any underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other agent retained by any such seller or underwriter, all financial and other records, pertinent corporate and business documents and properties of the Company as shall be necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors, employees, agents, representatives and independent accountants to supply all information reasonably requested by any such seller,
underwriter, attorney, accountant or agent in connection with such registration statement; 

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(xi) take all reasonable actions to ensure that any Free-Writing Prospectus utilized in connection with any Demand Registration or Piggyback Registration hereunder complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in accordance with the Securities Act to the extent required thereby and, when taken together with the related prospectus, shall not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading; 

(xii) otherwise use its reasonable best efforts to comply with all applicable rules and regulations of the Securities and Exchange Commission, and make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve months beginning with the first day of the Company’s first full calendar quarter after the effective date of the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158; 

(xiii) permit any holder of Registrable Securities which holder, in its sole and exclusive judgment, might be deemed to be an underwriter or a controlling person of the Company, to participate in the preparation of such registration or comparable statement and to allow such holder to provide language for insertion therein, in form and substance reasonably satisfactory to the Company, which in the reasonable judgment of such holder and its counsel should be included; 

(xiv) in the event of the issuance of any stop order suspending the effectiveness of a registration statement, or the issuance of any order suspending or preventing the use of any related prospectus or suspending the qualification of any Ordinary Shares included in such registration statement for sale in any jurisdiction use reasonable best efforts promptly to obtain the withdrawal of such order; 

(xv) use its reasonable best efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the sellers thereof to consummate the disposition of such Registrable Securities; 

(xvi) cooperate with the holders of Registrable Securities covered by the registration statement and the managing underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing securities to be sold under the registration statement and enable such securities to be in such denominations and registered in such names as the managing underwriter, or agent, if any, or such holders may request; 

(xvii) cooperate with each holder of Registrable Securities covered by the registration statement and each underwriter or agent participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA; 

(xviii) use its reasonable best efforts to make available the executive officers of the Company to participate with the holders of Registrable Securities and any underwriters in any “road shows” or other selling efforts that may be reasonably requested by the holders in connection with the methods of distribution for the Registrable Securities; 

(xix) in the case of any underwritten offering, use its reasonable best efforts to obtain one or more comfort letters from the Company’s independent public accountants in customary form and covering such matters of the type customarily covered by comfort letters; 

(xx) in the case of an underwritten offering, use its reasonable best efforts to provide a legal opinion of the Company’s outside counsel, dated the effective date of such registration statement (and, if such registration includes an underwritten Public Offering, dated the date of the closing under the underwriting agreement), the registration statement, each amendment and supplement thereto, the prospectus included therein (including the preliminary prospectus) and such other documents relating thereto in customary form and covering such matters of the type customarily covered by legal opinions of such nature, which
opinion shall be addressed to the underwriters; 

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(xxi) if the Company files an Automatic Shelf Registration Statement covering any Registrable Securities, use its reasonable best efforts to remain a WKSI (and not become an ineligible issuer (as defined in Rule 405 under the Securities Act)) during the period during which such Automatic Shelf Registration Statement is required to remain effective; 

(xxii) if the Company does not pay the filing fee covering the Registrable Securities at the time an Automatic Shelf Registration Statement is filed, pay such fee at such time or times as the Registrable Securities are to be sold; and 

(xxiii) if the Automatic Shelf Registration Statement has been outstanding for at least three (3) years, at the end of the third year, refile a new Automatic Shelf Registration Statement covering the Registrable Securities, and, if at any time when the Company is required to re-evaluate its WKSI status the Company determines that it is not a WKSI, use its reasonable best efforts to refile the Shelf Registration Statement on Form S-3 and, if such form is not available, Form S-1 and keep such registration statement effective during the period during which such registration statement is required to be kept effective. 

(b) If the Company files any Automatic Shelf Registration Statement for the benefit of the holders of any of its securities other than the holders of Registrable Securities, and the holders of Registrable Securities do not request that their Registrable Securities be included in such Shelf Registration Statement, the Company agrees that, once it is eligible to rely on Rule 430B, at the request of the holders of a majority of the Registrable Securities, it shall include in such Automatic Shelf Registration Statement such disclosures as may be required by Rule 430B in order to ensure that the holders of Registrable Securities may
be added to such Shelf Registration Statement at a later time through the filing of a prospectus supplement rather than a post-effective amendment. 

(c) The Company may require each seller of Registrable Securities as to which any registration is being effected to furnish the Company such information required by law to be included in such registration regarding such seller and the distribution of such securities as the Company may from time to time reasonably request in writing. 

(d) If Canyon or any of its Affiliates seek to effectuate an in-kind distribution of all or part of their respective Registrable Securities to their respective direct or indirect equityholders, the Company shall, subject to any applicable lock-ups, work with the foregoing persons to facilitate such in-kind distribution in the manner reasonably requested. 

Section 6. Registration Expenses. 

(a) The Company’s Obligation.  All expenses incident to the Company’s performance of or compliance with this Agreement (including, without limitation, all registration, qualification and filing fees, including FINRA filing fees, fees and expenses of compliance with securities or blue sky laws, printing expenses, transfer agent fees and expenses, travel expenses, messenger and delivery expenses, fees and disbursements of custodians, and fees and disbursements of counsel for the Company and all independent certified public accountants, underwriters including, if necessary, a “qualified independent
underwriter” (as such term is defined by FINRA) (excluding underwriting discounts and commissions) and other Persons retained by the Company) (all such expenses being herein called “Registration Expenses”), shall be borne by the Company, and the Company shall, in any event, pay its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit or quarterly review, the expense of any liability insurance and the expenses and fees for listing the securities to be registered on each securities exchange on which similar securities issued by the Company are then listed. Each Person that sells securities pursuant to a Demand Registration, Shelf Offering or Piggyback Registration hereunder shall bear and pay all underwriting discounts and commissions applicable to the securities sold for such Person’s account (provided that such underwriting discounts
and commissions applicable to Registrable Securities of the Other Holders will be the same per share as those applicable to Canyon Registrable Securities). 

(b) Counsel Fees and Disbursements.  In connection with each Demand Registration, each Piggyback Registration and each Shelf Offering that is an underwritten offering, the Company shall reimburse the holders of Registrable Securities included in such registration (i) for the reasonable fees and disbursements of one 

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counsel chosen by the holders of a majority of the Registrable Securities included in such registration or participating in such Shelf Offering and (ii) for the reasonable fees and disbursements of each additional counsel retained by any holder for the purpose of rendering a legal opinion on behalf of any such holder in connection with any underwritten Demand Registration, Piggyback Registration or Shelf Offering. 

(c) Security Holders.  To the extent any expenses are not required to be paid by the Company, each holder of securities included in any registration hereunder shall pay those expenses allocable to the registration of such holder’s securities so included in proportion to the aggregate selling price of the securities to be so registered. 

Section 7. Indemnification and Contribution. 

(a) By the Company.  The Company shall indemnify and hold harmless, to the extent permitted by law, each holder of Registrable Securities, such holder’s officers, directors employees, agents and representatives, and each Person who controls such holder (within the meaning of the Securities Act) (the “Indemnified Parties”) against all losses, claims, actions, damages, liabilities and expenses (including with respect to actions or proceedings, whether commenced or threatened, and including reasonable attorney fees and expenses) caused by, resulting from, arising out of, based upon or related
to any of the following statements, omissions or violations (each a “Violation”) by the Company: (i) any untrue or alleged untrue statement of material fact contained in (A) any registration statement, prospectus, preliminary prospectus or Free-Writing Prospectus, or any amendment thereof or supplement thereto or (B) any application or other document or communication (in this Section 7, collectively called an “application”) executed by or on behalf of the Company or based upon written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify any securities covered by such registration under the securities laws thereof, (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading or (iii) any violation or alleged violation by the Company of the Securities Act or any other similar federal or state securities laws or any
rule or regulation promulgated thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any such registration, qualification or compliance. In addition, the Company will reimburse such Indemnified Party for any legal or any other expenses reasonably incurred by them in connection with investigating or defending any such losses. Notwithstanding the foregoing, the Company shall not be liable in any such case to the extent that any such losses result from, arise out of, are based upon, or relate to an untrue statement or alleged untrue statement, or omission or alleged omission, made in such registration statement, any such prospectus, preliminary prospectus or Free-Writing Prospectus or any amendment or supplement thereto, or in any application, in reliance upon, and in conformity with, written information prepared and furnished in writing to the Company by such Indemnified Party expressly for use therein or by such Indemnified
Party’s failure to deliver a copy of the registration statement or prospectus or any amendments or supplements thereto after the Company has furnished such Indemnified Party with a sufficient number of copies of the same. In connection with an underwritten offering, the Company shall indemnify such underwriters, their officers and directors, and each Person who controls such underwriters (within the meaning of the Securities Act) to the same extent as provided above with respect to the indemnification of the Indemnified Parties. 

(b) By Each Security Holder.  In connection with any registration statement in which a holder of Registrable Securities is participating, each such holder shall furnish to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such registration statement or prospectus and, to the extent permitted by law, shall indemnify the Company, its officers, directors, employees, agents and representatives, and each Person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses
resulting from any untrue or alleged untrue statement of material fact contained in the registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing by such holder expressly for use in such registration statement; provided that the obligation to indemnify shall be individual, not joint and several, for each holder and shall be limited to the net amount of proceeds received by such holder from the sale of Registrable Securities pursuant to such registration statement. 

13

 

 

(c) Claim Procedure.  Any Person entitled to indemnification hereunder shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall impair any Person’s right to indemnification hereunder only to the extent such failure has prejudiced the indemnifying party) and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the
defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld, conditioned or delayed). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim. In such instance, the conflicted indemnified parties shall have a right to retain one separate counsel, chosen by the holders of a majority of the Registrable Securities included in the registration if such holders are indemnified
parties, at the expense of the indemnifying party. 

(d) Contribution.  If the indemnification provided for in this Section 7 is held by a court of competent jurisdiction to be unavailable to, or is insufficient to hold harmless, an indemnified party or is otherwise unenforceable with respect to any loss, claim, damage, liability or action referred to herein, then the indemnifying party shall contribute to the amounts paid or payable by such indemnified party as a result of such loss, claim, damage, liability or action in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party
on the other hand in connection with the statements or omissions which resulted in such loss, claim, damage, liability or action as well as any other relevant equitable considerations; provided that the maximum amount of liability in respect of such contribution shall be limited, in the case of each seller of Registrable Securities, to an amount equal to the net proceeds actually received by such seller from the sale of Registrable Securities effected pursuant to such registration. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not
be just or equitable if the contribution pursuant to this Section 7(d) were to be determined by pro rata allocation or by any other method of allocation that does not take into account such equitable considerations. The amount paid or payable by an indemnified party as a result of the losses, claims, damages, liabilities or expenses referred to herein shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending against any action or claim which is the subject hereof. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation. 

(e) Release.  No indemnifying party shall, except with the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement that does not include as an unconditional term thereof giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. 

(f) Non-exclusive Remedy; Survival.  The indemnification and contribution provided for under this Agreement shall be in addition to any other rights to indemnification or contribution that any indemnified party may have pursuant to law or contract and shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and shall survive the transfer of Registrable Securities and the termination or expiration of this Agreement. 

Section 8. Underwritten Offerings.  No Person may participate in any registration hereunder which is underwritten unless such Person: (i) agrees to sell the same class and type of securities on the basis provided in any underwriting arrangements approved by the Person or Persons entitled hereunder to approve such arrangements (including, without limitation, pursuant to any over-allotment or “green shoe” option requested 

14

 

 

by the underwriters; provided that no holder of Registrable Securities shall be required to sell more than the number of Registrable Securities such holder has requested to include); (ii) completes and executes all questionnaires, indemnities, underwriting agreements and other documents reasonably required of all holders of securities being included in such registration under the terms of such underwriting arrangements; and (iii) completes and executes all powers of attorney and custody agreements as reasonably requested by the managing underwriters; provided that no holder of Registrable Securities included in
any underwritten registration shall be required to make any representations or warranties to the Company or the underwriters (other than representations and warranties regarding such holder and such holder’s intended method of distribution) or to undertake any indemnification obligations to the Company or the underwriters with respect thereto that are materially more burdensome than those provided in Section 7 or those provided by the other holders of Registrable Securities participating in such underwritten registration. For the avoidance of doubt, each holder of Registrable Securities shall execute such customary powers of attorney or custody agreements as are requested by the managing underwriters, appointing as power of attorney or custodian such persons as reasonably requested by the Holders of the majority of the Registrable Securities. Each holder of Registrable Securities shall execute and deliver such other agreements as may be reasonably requested by the Company
and the lead managing underwriter(s) that are consistent with such holder’s obligations under Section 4, Section 5 and this Section 8 or that are necessary to give further effect thereto. To the extent that any such agreement is entered into pursuant to, and consistent with, Section 4 and this Section 8, the respective rights and obligations created under such agreement shall supersede the respective rights and obligations of the holders, the Company and the underwriters created pursuant to this Section 8. In the case of any registration hereunder that is underwritten which is requested by the holders of Registrable Securities, the price, underwriting discount and other financial terms of the related underwriting agreement for such securities shall be determined by the holders of a majority of the Registrable Securities included in such underwritten offering, provided that such price, underwriting discount and other financial terms shall
be applicable pari passu among all Registrable Securities included in such registration, on a pro rata basis. 

Section 9. Additional Parties; Joinder.  Subject to the prior written consent of the holders of a majority of the Registrable Securities, the Company may permit any Person who acquires Ordinary Shares or rights to acquire Ordinary Shares from the Company after the date hereof to become a party to this Agreement and to succeed to all of the rights and obligations of a “holder of Registrable Securities” under this Agreement by obtaining an executed joinder to this Agreement from such Person in the form of Exhibit A attached hereto (a “Joinder”). Upon the execution and delivery of
a Joinder by such Person, the Ordinary Shares acquired by such Person (the “Acquired Common”) shall be Registrable Securities hereunder, such Person shall be a “holder of Registrable Securities” under this Agreement with respect to the Acquired Common, and the Company shall add such Person’s name and address to the appropriate schedule hereto and circulate such information to the parties to this Agreement. 

Section 10. Current Public Information.  The Company shall file all reports required to be filed by it under the Securities Act and the Exchange Act and shall take such further action as any holder or holders of Registrable Securities may reasonably request, all to the extent required to enable such holders to sell Registrable Securities pursuant to Rule 144. Upon request, the Company shall deliver to any holder of Restricted Securities a written statement as to whether it has complied with such requirements. 

Section 11. Subsidiary Public Offering.  If, after an initial Public Offering of the Capital Stock of one of its Subsidiaries, the Company distributes securities of such Subsidiary to its equity holders, then the rights and obligations of the Company pursuant to this Agreement shall apply, mutatis mutandis, to such Subsidiary, and the Company shall cause such Subsidiary to comply with such Subsidiary’s obligations under this Agreement. 

Section 12. Transfer of Registrable Securities; Transfer Restrictions. 

(a) Restrictions on Transfers.  Notwithstanding anything to the contrary contained herein, except in the case of (i) a transfer to the Company, (ii) a Public Offering (including any Shelf Offering or pursuant to a Demand Registration), (iii) a sale pursuant to Rule 144 or (iv) a transfer in connection with a Sale of the Company or any Permitted Sponsor Sale Transaction, prior to transferring any Registrable Securities to any Person (including, without limitation, by operation of law) who following such transfer would otherwise be a holder of Registrable Securities, the transferring holder shall cause the
prospective transferee to execute and deliver 

15

 

 

to the Company a Joinder agreeing to be bound by the terms of this Agreement. Any transfer or attempted transfer of any Registrable Securities in violation of any provision of this Agreement shall be void, and the Company shall not record such transfer on its books or treat any purported transferee of such Registrable Securities as the owner thereof for any purpose. 

(b) Legend.  Each certificate evidencing any Registrable Securities and each certificate issued in exchange for or upon the transfer of any Registrable Securities (unless such Registrable Securities would no longer be Registrable Securities after such transfer) shall be stamped or otherwise imprinted with a legend in substantially the following form: 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE
 ARE SUBJECT TO RESTRICTIONS ON TRANSFER AND
 OTHER PROVISIONS SET FORTH IN A REGISTRATION RIGHTS
 AGREEMENT DATED AS OF            , 2017 AMONG
 THE ISSUER OF SUCH SECURITIES (THE “COMPANY”)
 AND CERTAIN OF THE COMPANY’S SHAREHOLDERS, AS
 AMENDED. A COPY OF SUCH REGISTRATION RIGHTS
 AGREEMENT WILL BE FURNISHED WITHOUT CHARGE
 BY THE COMPANY TO THE HOLDER HEREOF UPON
 WRITTEN REQUEST.” 

The Company shall imprint such legend on certificates evidencing Registrable Securities outstanding prior to the date hereof. The legend set forth above shall be removed from the certificates evidencing any securities that have ceased to be Registrable Securities. 

(c) Lock-Up Period. 

(i) For purposes of this Agreement, the “Lock-Up Period” is the period commencing on the date hereof and continuing until 60 days after the effectiveness of a registration statement registering the resale of the Registrable Securities held by the Other Holders; provided, that in no event shall the Lock-Up Period extend beyond one year from the date hereof. 

(ii) During the Lock-Up Period, other than in connection with an underwritten Demand Offering, underwritten Piggyback Registration or underwritten Shelf Offering under Section 2 or 3 hereof or as permitted by clause (c)(iii) below, no Other Holders shall enter into any Sales Transaction (including, except as provided above, registered dispositions pursuant to Section 2 or 3 hereof) with respect to any Ordinary Shares or Warrants or any options or warrants to purchase any Ordinary Shares or any securities convertible into, exercisable for, exchangeable for or that represent the right to receive
Ordinary Shares, whether now owned or hereinafter acquired, owned directly by such Other Holder (including securities held as a custodian) or with respect to which the undersigned has beneficial ownership within the rules and regulations of the Securities and Exchange Commission (collectively, the “Restricted Shares”). The foregoing restriction is expressly agreed to preclude each Other Holder from engaging in any hedging or other transaction which is designed to or which reasonably would be expected to lead to or result in a sale or disposition of the Restricted Shares even if such Restricted Shares would be disposed of by someone other than such Other Holder. Such prohibited hedging or other transactions include any short sale or any purchase, sale or grant of any right (including any put or call option) with respect to any of the Restricted Shares of the applicable Other Holder or with respect to any security that includes, relates to, or derives any significant
part of its value from such Restricted Shares. 

(iii) Notwithstanding anything to the contrary set forth herein, an Other Holder may engage in a Sale Transaction with respect to Restricted Shares during the Lock-Up Period: 

(1) as a bona fide gift or gifts (subject to the provisions of the last sentence of this Section 12(c)); 

(2) to any trust or entity wholly owned by one or more trusts for the direct or indirect benefit of (A) the Other Holder and/or its stockholders, partners, members or beneficiaries and/or (B) any individual related to such Other Holder or to the stockholders, partners, members or beneficiaries of 

16

 

 

such Other Holder, by blood, marriage or adoption and not more remote than first cousin (subject to the provisions of the last sentence of this Section 12(c)); 

(3) if an Other Holder is a corporation, limited liability company, partnership or trust, such Other Holder may Transfer Restricted Shares to any wholly-owned subsidiary thereof, or to the stockholders, partners, members or beneficiaries of such Other Holder (subject to the provisions of the last sentence of this Section 12(c)); 

(4) to any Person following, or contemporaneously with, any Sale Transaction for value entered into by any holder of Canyon Registrable Securities (excluding (i) any Sale Transaction of the type contemplated by clauses (1)-(3) above or (ii) any distribution effected pursuant to Section 5(d)); provided that the number of Registrable Securities sold by any holder of Other Registrable Securities shall be proportional (as a percentage of total Registrable Securities beneficially owned by the Other Holder) to the number of Registrable Securities sold in such Sale Transaction by the holder of Canyon Registrable Securities (any Sale
Transaction by an Other Holder permitted by this Section 12(c)(iii)(4), a “Permitted Sponsor Sale Transaction”); or 

(5) in connection with a Sale of the Company. 

It shall be a condition to any Transfer of Restricted Shares pursuant to clauses (1), (2) or (3), that the transferee execute and deliver a Joinder to this Agreement. For the avoidance of doubt, any such transferee so executing and delivering a Joinder shall thereupon be deemed an Other Holder and shall have all the benefits and obligations of an Other Holder under this Agreement, including the registration rights provided in Sections 2 and 3. 

(iv) Each Other Holder hereby represents and warrants that it now has, and for the duration of the Lock-Up Period will have, good and marketable title to its Restricted Shares, free and clear of all liens, encumbrances, and claims that could impact the ability of such Stockholder to comply with the foregoing restrictions. 

(v) For the avoidance of doubt, the transfer restrictions set forth in this Section 2 are separate and independent from those applicable to any Other Holders pursuant to (A) the Sponsor Support Agreement, dated March [  ], 2017 by and among Canyon, Capital Acquisition Corp III. and the Other Holders; and (B) the Stock Escrow Agreement, dated as of October 13, 2015, between by and among CAC, such Other Holder and the other parties thereto. 

Section 13. General Provisions. 

(a) Amendments and Waivers.  Except as otherwise provided herein, the provisions of this Agreement may be amended, modified or waived only with the prior written consent of the Company and the holders of a majority of the Canyon Registrable Securities (so long as any Canyon Registrable Securities remain) and the holders of a majority of the Registrable Securities; provided that no such amendment, modification or waiver that would materially and adversely affect a holder or group of holders of Registrable Securities in a manner different than any other holder or group of holders of Registrable Securities
(other than amendments and modifications required to implement the Joinder provisions of Section 9), shall be effective against such holder or group of holders of Registrable Securities without the consent of the holders of a majority of the Registrable Securities that are held by the group of holders that is materially and adversely affected thereby; and for the avoidance of doubt, any amendment or waiver expanding the obligation of the Other Holders under Section 12 will require the written consent of the holders of a majority of the Registrable Securities held by Other Holders, and any amendment or waiver reducing, impairing or limiting the rights of the Holders of Sponsor Registrable Securities under Section 2(a)(ii) will require the written consent of the holders of a majority of the Sponsor Registrable Securities. The failure or delay of any Person to enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall not
affect the right of such Person thereafter to enforce each and every provision of this Agreement in accordance with its terms. A waiver or consent to or of any breach or default by any Person in the performance by that Person of his, her or its obligations under this Agreement shall not be deemed to be a consent or waiver to or of any other breach or default in the performance by that Person of the same or any other obligations of that Person under this Agreement. 

17

 

 

(b) Remedies.  The parties to this Agreement and their successors and assigns shall be entitled to enforce their rights under this Agreement specifically (without posting a bond or other security), to recover damages caused by reason of any breach of any provision of this Agreement and to exercise all other rights existing in their favor. The parties hereto and their successors and assigns agree and acknowledge that a breach of this Agreement would cause irreparable harm and money damages would not be an adequate remedy for any such breach and that, in addition to any other rights and remedies existing
hereunder, any party shall be entitled to specific performance and/or other injunctive relief from any court of law or equity of competent jurisdiction (without posting any bond or other security) in order to enforce or prevent violation of the provisions of this Agreement. 

(c) Severability.  Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited, invalid, illegal or unenforceable in any respect under any applicable law or regulation in any jurisdiction, such prohibition, invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of any other provision of this Agreement in such jurisdiction or in any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such
jurisdiction as if such prohibited, invalid, illegal or unenforceable provision had never been contained herein. 

(d) Entire Agreement.  Except as otherwise provided herein, this Agreement contains the complete agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or among the parties hereto, written or oral, which may have related to the subject matter hereof in any way. 

(e) Successors and Assigns.  Except as otherwise provided herein, this Agreement shall bind and inure to the benefit and be enforceable by the Company and its successors and assigns and the holders of Registrable Securities and/or Canyon Registrable Securities and their respective successors and permitted assigns (whether so expressed or not). In addition, whether or not any express assignment has been made, except as otherwise determined by the transferor in its sole discretion, the provisions of this Agreement which are for the benefit of purchasers or holders of Registrable Securities and/or Canyon
Registrable Securities are also for the benefit of, and enforceable by, any subsequent holder of Registrable Securities and/or Canyon Registrable Securities. 

(f) Notices.  Any notice, demand or other communication to be given under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given (i) when delivered personally to the recipient, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; but if not, then on the next Business Day (provided that any such notice under this clause (ii) shall not be effective unless within one Business Day after the notice is sent, a copy of such notice is sent to the recipient by first-class mail, return receipt requested,
or reputable overnight courier service (charges prepaid)), (iii) one Business Day after it is sent to the recipient by reputable overnight courier service (charges prepaid) or (iv) three Business Days after it is mailed to the recipient by first class mail, return receipt requested. Such notices, demands and other communications shall be sent to the Company or to Canyon at the addresses specified below and to any Other Holder of Registrable Securities at such address as indicated on Schedule of Other Holders hereto, or at such address or to the attention of such other Person as the recipient party has specified by prior written notice to the sending party. Any party may change such party’s address for receipt of notice by giving prior written notice of the change to the sending party as provided herein. 

The Company’s address is:
 
 Cision US, Inc.
 130 East Randolph St. 7th Floor
 Chicago, Illinois 60601
 Attention: Jack Pearlstein
 Facsimile: (301) 459-2827
 E-mail: jack.pearlstein@cision.com 

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Canyon’s Address is:
 
 Canyon Holdings (Cayman) LP
 c/o GTCR LLC
 300 North LaSalle, Suite 5600
 Chicago, Illinois 60654
 Attention: Mark M. Anderson and Stephen P. Master
Facsimile: (312) 382-3673
 E-mail: mark.anderson@gtcr.com; stephen.master@gtcr.com 

With a copy to:
 
 Kirkland & Ellis LLP 300 North LaSalle
 Chicago, Illinois 60654
 Attention: Stephen L. Ritchie, P.C. and Mark A. Fennell, P.C.
 Facsimile: (312) 862-2200
 E-mail: sritchie@kirkland.com; mfennell@kirkland.com 

or to such other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. 

(g) Business Days.  If any time period for giving notice or taking action hereunder expires on a day that is not a Business Day, the time period shall automatically be extended to the Business Day immediately following such Saturday, Sunday or legal holiday. 

(h) Governing Law.  The corporate law of the State of Delaware shall govern all issues and questions concerning the relative rights of the Company and its stockholders. All issues and questions concerning the construction, validity, interpretation and enforcement of this Agreement and the exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction
other than the State of Delaware. In furtherance of the foregoing, the internal law of the State of Delaware shall control the interpretation and construction of this Agreement (and all schedules and exhibits hereto), even though under that jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply. 

(i) MUTUAL WAIVER OF JURY TRIAL.  AS A SPECIFICALLY BARGAINED FOR INDUCEMENT FOR EACH OF THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT (AFTER HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL), EACH PARTY HERETO EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY. 

(j) CONSENT TO JURISDICTION AND SERVICE OF PROCESS.  EACH OF THE PARTIES, AND EACH OF THEIR SUCCESSORS AND ASSIGNS, IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE OR ANY DELAWARE STATE COURT, FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. EACH OF THE PARTIES HERETO, AND EACH OF THEIR SUCCESSORS AND ASSIGNS, FURTHER AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY U.S. REGISTERED MAIL TO SUCH PARTY’S
RESPECTIVE ADDRESS SET FORTH ABOVE SHALL BE EFFECTIVE SERVICE OF PROCESS FOR ANY ACTION, SUIT OR PROCEEDING WITH RESPECT TO ANY MATTERS TO WHICH IT HAS SUBMITTED TO JURISDICTION IN THIS PARAGRAPH. EACH OF THE PARTIES HERETO, AND EACH OF THEIR SUCCESSOR AND ASSIGNS, IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY OBJECTION TO THE LAYING OF VENUE OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY IN THE UNITED STATES DISTRICT COURT FOR THE 

19

 

 

DISTRICT OF DELAWARE, AND HEREBY AND THEREBY FURTHER IRREVOCABLY AND UNCONDITIONALLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION, SUIT OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

(k) No Recourse.  Notwithstanding anything to the contrary in this Agreement, the Company and each holder of Registrable Securities agrees and acknowledges that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement, shall be had against any current or future director, officer, employee, general or limited partner or member of any holder of Registrable Securities or of any Affiliate or assignee thereof, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it
being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any current or future officer, agent or employee of any holder of Registrable Securities or any current or future member of any holder of Registrable Securities or any current or future director, officer, employee, partner or member of any holder of Registrable Securities or of any Affiliate or assignee thereof, as such for any obligation of any holder of Registrable Securities under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations or their creation. 

(l) Descriptive Headings; Interpretation.  The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by limitation. 

(m) No Strict Construction.  The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall be applied against any party. 

(n) Counterparts.  This Agreement may be executed in multiple counterparts, any one of which need not contain the signature of more than one party, but all such counterparts taken together shall constitute one and the same agreement. 

(o) Electronic Delivery.  This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent executed and delivered by means of a photographic, photostatic, facsimile or similar reproduction of such signed writing using a facsimile machine or electronic mail shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof
delivered in person. No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability of a contract and each such party forever waives any such defense. 

(p) Further Assurances.  In connection with this Agreement and the transactions contemplated hereby, upon the written request by the Company, each holder of Registrable Securities shall execute and deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and perform the provisions of this Agreement and the transactions contemplated hereby. 

(q) No Inconsistent Agreements.  The Company shall not hereafter enter into any agreement with respect to its securities which is inconsistent with or violates the rights granted to the holders of Registrable Securities in this Agreement. 

(r) Dilution.  If, from time to time, there is any change in the capital structure of the Company by way of a stock split, stock dividend, combination or reclassification, or through a merger, consolidation, reorganization or recapitalization, or by any other means, appropriate adjustment shall be made in the provisions hereof so that the rights and privileges granted hereby shall continue. 

* * * * * 

20

 

 

IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first written above. 

CAPITOL ACQUISITION HOLDING
 COMPANY LTD. 

		By:	 

		Its:	 

 

 

CANYON HOLDINGS (CAYMAN) L.P. 

		By:	 

		Its:	 

 
 
Signature Page to Registration Rights Agreement

 

 

OTHER HOLDERS: 

		 	 

		Name:	 

		 	 

		Name:	 

 

 

[SCHEDULE OF OTHER HOLDERS] 

Capitol Acquisition Management 3 LLC
 c/o Mark D. Ein
 Capitol Acquisition Corp. III
 509 7th Street, N.W.
 Washington, D.C. 20004 

Capitol Acquisition Founder 3 LLC
 c/o L. Dyson Dryden
 305 West Pennsylvania Avenue
 Towson, MD 21204 

 

 

EXHIBIT A
 
 REGISTRATION RIGHTS AGREEMENT
 
 JOINDER 

The undersigned is executing and delivering this Joinder pursuant to the Registration Rights Agreement dated as of            (as the same may hereafter be amended, the “Registration Rights Agreement”), among           , a            corporation (the “Company”), and the other person named as parties therein. 

By executing and delivering this Joinder to the Company, the undersigned hereby agrees to become a party to, to be bound by, and to comply with the provisions of the Registration Rights Agreement as a holder of Registrable Securities in the same manner as if the undersigned were an original signatory to the Registration Rights Agreement, and the undersigned’s            number of Ordinary Shares shall be included as Registrable Securities under the Registration Rights Agreement. 

Accordingly, the undersigned has executed and delivered this Joinder as of the     day of            ,     . 

 

Signature of Stockholder 

 

Print Name of Stockholder 

		Address:	 

		 	 

		 	 

Agreed and Accepted as of 

. 

[COMPANY] 

		By:	

		Its:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00269-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00269-of-00352.parquet"}]]