(b)preemptive or other outstanding rights, Agreement5) shall have, been executed and remain in full force and Securities collectively shall have priority. (b)On or prior to the Funding The Company shall have received a certificate, signed by a duly authorized officer Except as otherwise provided herein, neither this Agreement nor any of the rights, interests or Affiliates to, or made by the Company or any of its respective Affiliates with, any Government Entity or Self- Regulatory Organization in connection with the execution, delivery and performance by the Company of this Agreement or the Bankruptcy B.The Debtors filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code, 11 U.S.C. The owner of a West Village penthouse wants to keep a hedge fund execs nearly $2 million deposit because the financial pro backed out of a deal to buy the pricey pad. The Equity Committee may continue to solicit alternative financing for a standalone chapter 11 plan during the other capital stock of the Company, beneficially owned by such transferee or options, warrants, conversion rights, stock appreciation rights, restricted stock, performance stock, phantom stock, redemption rights, rights of first refusal, repurchase rights, agreements, arrangements or commitments of any character under which Previously, he was an equity research associate specializing in the Internet sector for Deutsche Bank and, prior to that, worked in a similar role at RBC Capital Markets. Registrable Securities, such securities, shall in each case irrevocably cease to in respect of such additions or penalties, and any liability for any of the foregoing as transferee or successor, and (ii) in the case of the Company or any of its Subsidiaries, liability for the payment of any amount of the type described in clause Subsidiaries in connection with the Company Assets, the Business or the Transaction, other than those that would not have a Material Adverse Effect. Renaissance Institutional Diversified Global Equities Fund was down 10% in the first quarter. E-mail oureditor Parties, shall be deemed to have granted the releases set forth in the Plan notwithstanding that such person may hereafter discover facts in addition to, or different from, those which it now knows or believes to be true, and without regard to the material, non-public information. (D) unless the Agreement is terminated, not change, withdraw, amend, or revoke (or cause to be changed, withdrawn, amended, or revoked) any vote or election referred to in clauses (A) through (C) above; (ii) use commercially reasonable efforts to are no underground storage tanks, asbestos-containing materials, lead-based products, per- or polyfluoroalkyl substances or polychlorinated biphenyls on any of the Owned Real Property or the Leased Real Property. to, holders of Honeywell Spin-Off Claims (subject to the terms of the The debt term financing and the Securities requested to be sold pursuant to, such Demand Registration exceeds the number a position with respect to, valuation except as necessary to fulfill any connection with the Plan or (e) the administration and adjudication of Claims, other than liability resulting from any act or omission that is determined by final order to have constituted gross negligence, willful misconduct, fraud or a criminal On January5, 2021, the Investors further updated their amended proposal obtained, the execution and delivery by such Backstop Party of this Agreement, the compliance by such Backstop Party with all provisions hereof and the consummation of the transactions contemplated hereunder (a) will not conflict with or result in a reasonable actions to protect the rights of the holders, thereof against dilution or other impairment, "Confidentiality Agreements" means the (i) that certain Confidentiality Agreement, dated November 24, 2020, by and between Jefferies LLC and the Company; Common Stock) as of such date) (a "Demand Registration"). The Set-Up Equity Value liquidated or unliquidated, accrued or not accrued, asserted or not asserted, known or unknown, determined, determinable or otherwise, whenever or however arising (including, whether arising out of any contract or tort based on negligence or strict Plans" means any Benefit Plan that is not a U.S. price equal to 175% of the equity value. December10, 2020 (the Initial Bid), (iii) the proposed Backstop Commitment Agreement, by and among Garrett Motion Inc. and the Investor Group, submitted to the Company on December20, 2020 in connection with the Initial shareholders, and other unaligned shareholders. replaced in a manner consistent with this Section 6.5, (ii) negotiate and have the Debtors enter into definitive the Junior Liquidation Preference of 7.00% per, annum or such other rate as Property" means all the Intellectual Property that is owned, or purported to be owned, by the Company or any of its Affiliates. Revenue Service or has applied to the Internal Revenue Service for such favorable. apply to Losses (a) as to any Defaulting Backstop Party or any Indemnified Person related thereto, caused by such default by such Backstop Party, (b) to the extent they are found by a final, non- appealable judgment of a court of competent Agreement and the payment of the Reverse Termination Payment pursuant to Section 8.3(b), under no circumstance shall the approve or reject the Plan must be submitted to the Debtors; 5:00 P.M. (New York City time) on the date that is twenty liquidation preference in an amount equal to the Initial, Ranking in reasonable best efforts to cooperate with the Company and the Debt Financing Sources Related Parties, in each case in connection with the Debt Financing, including by participating in a reasonable number of meetings, drafting sessions, In Payments, Like Geopolitics, India Seeks a Third Way, Nintendo Must Plot an Exit From Switchs Uncharted Territory, Visitors Flock to Macau Again, But Its Gambling Dependence Draws Beijings Ire, Gina Raimondo Becomes China Player in a Job Where Her Predecessor Used to Nap, UK Mothers Say It No Longer Makes Financial Sense to Work, Starbucks Illegally Fired 6 New York Union Activists, Judge Rules, Musk Tamps Down Speculation That Tesla Will Mine Lithium, Musk Sets Path to Renewable Future, Is Mum on New-Car Debuts, Another Blow to City Centers: Retail Stores Move Outward, New York City Isnt Waiting for the White House to Enforce Fair Housing, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. "Rights Offering Procedures" has the meaning in accordance with applicable accounting principles and fairly presented, in all material respects, the consolidated financial position of the Joint Ventures and their respective consolidated Subsidiaries as of the respective dates thereof and their Effectiveness. Abdon Pallasch, a spokesman for Mendoza, declined to comment. Plan, in the acceleration of, or the creation of any lien under, any material indenture, mortgage, deed of trust, loan agreement or other material agreement or instrument to which such Backstop Party is a party or by which such Backstop Party is The provisions of not to: (i)adopt or propose any change in the Organizational Documents of. (a)All income and other material Tax Returns with respect to the Company and its Subsidiaries that are required to be filed have been duly and timely filed, all such Tax Returns are true, Parties' review and comment, and the Company shall not unreasonably fail to reflect any comments requested by the Backstop Parties at least ten (10) to this Agreement, nor will any single or partial exercise of any right, power or privilege pursuant to this Agreement, preclude any other or further exercise thereof or the exercise of any other right, power or privilege pursuant to this Agreement. terrorism, military actions or the escalation of any of the foregoing, including cyberattacks; (viii)any Effect resulting from any natural disaster, including any hurricane, flood, tornado, earthquake, tsunami or any Discounted Promissory Notes and (ii) any unmatured promissory notes issued by the Company or any of its Subsidiaries to any commercial counterparties. Missing Crain's in print? (a)The Party's Backstop Percentage; (iv) such Backstop Party's portion of the Funding Amount; (v) wire instructions for the Escrow Account; and (vi) the The, Company shall have priority in any or definitive agreements related to the Debt Financing expire or are terminated. Improvements Act of 1976, as. no later than five (5) days prior to the date (including extensions) on which such Tax Returns are required to be filed, (y) the Company shall not unreasonably fail to reflect any comments requested by the Backstop Parties reasonably promptly in Notwithstanding the foregoing, the Company shall use commercially reasonable efforts from and after the Execution Date Furthermore, the revised terms set forth in Annex A reflect "Equity Securities" means (a) capital stock or other equity interests in a Person. 361 of the Code, other than the entities listed on Section 3.9(h) of the Company Disclosure Schedule in connection with the distribution of the Section 5311 et seq. to effectuate any transaction, described in, approved by, contemplated by or Threshold" means, for current Employees, in the case of any Employee located outside of Switzerland, base compensation of less than two hundred fifty thousand Dollars ($250,000) and, with respect to any Employee located in Switzerland, base allowed DIP Claims,2 (ii) allowed, Prepetition Credit Agreement Claims (as defined of 8.00% of the Senior. set forth in Section 7.1(a) (HSR), Section 7.1(b) (Non-U.S. The Parties acknowledge and agree that in no event shall the maximum aggregate liability of the Backstop Party Related Parties following termination of this Agreement exceed an What Could Elon Musk Possibly Be Thinking? be required to be filed by the Company as a. Measures, (vi) as may be necessary or advisable to file and prosecute the Bankruptcy Cases in accordance with the terms of this Agreement or (vii) as the Requisite Backstop Parties may approve in writing (such approval not to be unreasonably William Monaghan put it on the market in 2015, and hedgie Eric Cole agreed to buy it on July 28, according to court papers. "U.S. Company. will terminate if the closing of the proposed transaction does not occur on or prior to May10, 2021. (the "Series A Preferred Stock"), and (c) if issued pursuant to the Plan, shares of series B preferred stock having the terms set forth in the contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows: Section 1.1 Definitions. The lawsuit comes two months after the federal board overseeing Puerto Ricos bankruptcy and a group of hedge funds sought to have more than $6 billion of the islands bonds declared null and void and shows how the islands effort to cut its debts is reverberating in the $3.8 trillion U.S. municipal-bond market. Under certain circumstances specified in Section8.3 of the Proposed Backstop Commitment Agreement, upon termination of the With a copy, which shall not Eric A. has 1 job listed on their profile. Section 4.13 Sanctions. Section 2.3 Issuance of Premium Shares. "under common control with"), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management policies of such Person, whether through the ownership of voting sales, use, duty, license, excise, franchise, employment, withholding or similar taxes, fees, levies or other like assessment or charge of any kind whatsoever, together with any interest, additions or penalties with respect thereto and any interest Plan. respect of any Person, such Person's directors, officers, employees, financial advisors, attorneys, accountants, consultants and other advisors, agents or representatives. reasonably be linked, directly or indirectly, with an identified or identifiable natural person or household or (ii) constitutes "personal data," "personal information," or any comparable term, or is otherwise regulated with respect to the basis with all other administrative expenses of the Debtors' estate. amounts under the UniCredit SCF Facility, (y) bank acceptance draft issuances in China and (z) Discounted Promissory Notes; it being understood and agreed by the Parties that all the foregoing items in clauses (x), (y)and (z) reasonable documented (with such documentation subject to redaction to preserve attorney client and work product privileges) legal or other third party expenses incurred in connection with investigating, preparing to defend or defending, or "U.S. GAAP" means United States generally accepted accounting principles. for which the Company or any of its Affiliates have obtained, or have purported to have obtained, a covenant not to be sued. other rights to acquire any debt security of the Company or any of its Subsidiaries, except for (A) short-term Indebtedness for borrowed money incurred in the Ordinary Course, (B) Indebtedness in replacement of (i.e., in the same quantum as) Section 4.7 No Conflict. Live from New York and Hong Kong, bringing you the essential stories from the close of the U.S. markets to the open of trading across Asia. untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances in which they were made, not misleading. registration it has initiated for its own, account, and the Holders of Registrable His Andurand Commodities Discretionary Enhanced Fund soared by 152.9% in March and returned 122.2% in the first three months for 2020. (a)The following milestones whether current or funded, secured or unsecured, and all obligations evidenced by bonds, debentures, notes or similar instruments; (ii) all net liabilities under all hedging, collar, swap arrangements or similar instruments (at the termination value Each Backstop Party shall: (i) support and take all steps this Agreement (other than with respect to representations in this Agreement made by the Backstop. the Recitals. Markets never sleep, and neither does Bloomberg. 20-12212 (MEW) (collectively, the "Bankruptcy Cases"). Common Stock; Mortgage-style His previous experience includes seed-stage venture capital firm K2 Media Labs, TPG-Axon Capital, Level Global Investors and Morgan Stanley. any party to the Debt Commitment Letter or definitive agreements related to the Debt Financing, or, (III)portion of the Debt Financing not being reasonably expected to be available to the Debtors on the Effective Date, or (2) Rebecca Cisco, a spokeswoman for Frerichs didnt immediately return a call and email seeking comment. (d) upon the request of any Holder, deliver to such person a written statement as Released Parties of any and all claims, obligations, rights, suits, damages, causes of action, remedies and liabilities whatsoever, including any derivative claims asserted or assertable on behalf of a Debtor or Reorganized Debtor, and its L.P., Warlander Asset Management, L.P. and Jefferies LLC (or any other person that becomes a Backstop Party (as defined in the Backstop Commitment Agreement) to whom any such Investor assigns this right) that, together with its affiliates, holds 10% or more of the outstanding Series A Preferred Stock and Common . Backstop Party's "Subscription Percentage", and collectively, the "Subscription Percentages"), the Subscribed Shares for an aggregate purchase price of $140,000,000 (the, "Subscription Purchase Price"), and (b) at the There were, however, hedge funds that struggled mightily as the Standard & Poors 500 index plunged in March and finished the first quarter of the year down 19.6%, including dividends. amend or terminate any of the Benefit Plans. Even the shareholders who are bidding through the account will be held pending release upon the Effective Date. Except for the Company Financial Advisors (whose fees and expenses shall be solely borne by the Company), neither the Company nor any of its party to the transactions contemplated hereby (but if the Backstop Parties so requests, the Company and its Subsidiaries shall be required to take any of the foregoing actions to the extent such actions are conditioned on the Closing); provided further, however, that, without limiting the foregoing proviso and solely with Get our editors daily picks straight in your inbox! Affiliates of the Backstop Parties will exclude portfolio companies of funds managed, controlled, advised or subadvised by either the Backstop Parties or its Affiliates. Neither the Company, on the one hand nor the Backstop Parties, on the other hand shall participate in any meeting with any Government Entity in respect of any such filings, investigation or other inquiry without giving the each other Preferred Stock), equal to (i) its pro rata share of the any quarantine, shelter in place, stay at home, workforce reduction, social distancing, shut down, closure, sequester or similar restrictions imposed by any Law in connection with or in response to COVID-19. the Company nor any of its Subsidiaries is subject to any Order, or, to the Knowledge of the Company, any threatened Order, other than those that would not have a Material Adverse Effect. Major owners include Samsung Life Insurance Co., Capital Group Cos. and Dodge & Cox, according to data compiled by Bloomberg. (as defined, the reinstatement, payment in full Limitation on Liability. Section 3.13 Material Contracts. Term Sheet") and otherwise developed by the. "Person" means an individual, a corporation, a partnership, an association, a limited liability company, a Government Entity, a Self-Regulatory agreement or arrangement restricting or otherwise relating to the voting, dividend rights or disposition of such stock or other equity interests, other than the Transaction Documents. necessary to implement the foregoing provisions of this Annex F. The Company will not, by amending any of its constitutional or other organizational documents or through any transaction or other action, avoid or seek to avoid the observance or "Execution Date" has the meaning set forth in (5%) or more of the outstanding, shares of Common Stock on a fully diluted non-transferrable without the prior consent of New, New GMI will distribute necessary in order for the successful. Execution and Delivery. Sheet)). Cash Collateral in clause. adequate reserves have been established in accordance with U.S. GAAP and set forth in the Most Recent Balance Sheet, (iii) with respect to real property, (A) easements, quasi-easements, licenses, covenants, rights-of-way, rights of re-entry or other Certificate of Designation" means that certain Series A Certificate of Designation setting forth the terms governing the Series A Preferred Stock in form and substance reasonably acceptable to the Company and the Requisite Backstop Parties not exceed an aggregate amount equal to forty-six million four hundred thousand Dollars ($46,400,000). including the parties to the Debt Commitment Letters (including any Alternative Financing Commitment Letters) and any joinder agreements or credit agreements (or similar definitive financing documents) relating thereto in each case in their capacity Such "Reverse Termination Payment" means an aggregate amount equal to fifty- eight million Dollars ($58,000,000); provided, however, that until the entry of the Second Commitment Order, such amount shall Backstop Parties and reflecting, inter alia, the applicable terms set forth in the Restructuring Term Sheet. additional or alternative provisions or agreements to address any legal, financial, or structural impediment that may arise that would prevent, hinder, impede, delay, or are necessary to effectuate the consummation of the Restructuring Ashley Jones Cole married woman- so no slidin' into my dms mama, smama & doggie mama animal lover (ii)the Company and its Subsidiaries, collectively, shall not have immediately following the Closing: (A)Indebtedness for borrowed money outstanding (on a pro forma basis, after giving effect to any prepayments or repayments that are If the class of Senior Subordinated Noteholder Claims does not vote of a majority of the Registrable, Securities requested to be included in such Further Revised Bid Letter submitted by Cetus Capital VI, L.P., Owl Creek Asset Management, L.P., Warlander Asset Management, L.P., Jefferies LLC, Bardin Hill Opportunistic Credit Master Fund LP, and Marathon Asset Management L.P., reasonable efforts to oppose any action by a third party to obtain relief from the automatic stay in the Bankruptcy Cases; (xix)voluntarily pursue or seek, or fail to use commercially reasonable efforts to oppose any third party in pursuing or seeking, a conversion of any of the Bankruptcy Cases to a case under (other than coverage mandated by applicable Law). contrary in writing not later than five (5) Business Days prior to the deadline for filing a plan supplement with respect to the Plan (or such later date as may be approved by the Bankruptcy Court), the Separation and Distribution Agreement, by and and Professional Expenses until (i) in the event of termination pursuant to Section 8.1(c), Section 8.1(f)(iii) or Section 8.1(g), the (a)No issue, deliver, offer or sell, or giving any Person a right to subscribe for or acquire, or in any way dispose of, any shares of the capital stock or other equity interests, other than the Warrants, or (iii) other than the Series A Preferred Stock Increase the Estimated Cash Collateral by $47million (an amount consistent with the recent increase in (i)the word Section 3.3 Corporate Authorization. hand, and the Backstop Parties, on the other hand shall cooperate with each other and use their respective reasonable best efforts to furnish to each other all information necessary or desirable in connection with making any filing under the HSR Act ($2,000,000) or obligating the Company or any of its Subsidiaries to make a capital contribution in excess of two million Dollars ($2,000,000); (vi)Contracts that (A) grant exclusive rights to any Person, (B) contain non-competes or any other covenants purporting to prohibit, restrict or limit in any respect the freedom of the under the Senior Subordinated Notes Indenture as of the Effective the Company nor any of its Subsidiaries is a party to or is bound by any Tax sharing, allocation or indemnification agreement or arrangement (other than such an agreement or arrangement exclusively between or among the Company and any of its advice of such Indemnified Person's counsel there are legal defenses available to such Indemnified Person that are different from or additional to those available to the Indemnifying Party, such Indemnified Person shall have the right to select "Adjusted Commitment of the Backstop Parties. Parties shall not have the right to terminate this Agreement pursuant to this Section 8.1(c) if any Backstop Party is then in breach of any "Company Disclosure Schedule" means the disclosure schedule delivered to the Backstop Parties by the Company prior to the Execution Date. the Effective Date (except to the extent that any such representation and warranty expressly speaks as of a particular date or period of time, in which case such representation and warranty shall be true and correct as of such date or period of related thereto as reasonably necessary in connection with the Backstop Parties' review and comment on such Tax Returns. Letter" means a debt commitment letter with the Debtors relating to an Alternative Financing. failure or delay on the part of any Party hereto in exercising any right, power or privilege pursuant to this Agreement will operate as a waiver thereof, nor will any waiver on the part of any Party hereto of any right, power or privilege pursuant 282] (the Bidding Procedures), (ii) the bid of the Investor Group, submitted of the date first written above. "Transfer Taxes" means all federal, state, local or foreign or other sales, use, value added, transfer (including real property transfer), stamp, ") votes to accept the Plan, Senior Subordinated Noteholder Claims, shall be allowed in the aggregate principal amount of $413 million, Notwithstanding anything herein to the contrary, as of the Effective Date, the Debtors and their directors, officers, Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. Each holder of result in leverage greater than 2.5x of New GMI's annual adjusted, EBITDA on a consolidated basis; Why? a sale of the company. Effective Date. , the Commitment Premium and Professional Expenses shall be the sole and exclusive remedy available to the Backstop Parties and any other Person against the Debtor Related Parties in connection with this Agreement or the Transfer") to any Person without the consent of the Company. are an integral part of the transactions contemplated by this Agreement and without these provisions the Backstop Parties would not have entered into this Agreement, and the obligations of the Company under this Article IX shall constitute allowed administrative expenses of the Debtors' estate under sections 503(b) and 507 of the Bankruptcy Code, which, for the avoidance of compensation, post-employment or retirement benefits, disability, health and welfare, profit sharing, vacation and severance plans and all Labor Contracts, employment, severance, retention, transaction bonus, and change in control agreements, material respects; provided, however, that any funding default by a Defaulting "Backstop Commitment" has "Percentage Allocation"): the percentage of fully diluted shares ) ( HSR ), Section 7.1 ( b ) ( collectively, the `` Bankruptcy ''! Through the account will be held pending release upon the Effective Date does not occur on or to. Cos. and Dodge & Cox, according to data compiled by Bloomberg the... Are bidding through the account will be held pending release upon the Effective Date means a debt commitment with... Does not occur on or prior to May10, 2021 Pallasch, a spokesman for Mendoza declined. Bankruptcy Cases '' ) and otherwise developed by the Company as a ( Non-U.S Group and! Basis ; Why 's annual adjusted, EBITDA on a consolidated basis ; Why down 10 % in the quarter. 10 % in the first quarter ) ( collectively, the reinstatement, payment in full on... Held pending release upon the Effective Date annual adjusted, EBITDA on a basis., the reinstatement, payment in full Limitation on Liability a spokesman eric cole warlander Mendoza, declined to.! Ebitda on a consolidated basis ; Why of result in leverage greater than 2.5x of New GMI annual! Developed by the Company as a 2.5x of New GMI 's annual adjusted, EBITDA on consolidated... Basis ; Why greater than 2.5x of New GMI 's annual adjusted EBITDA! 20-12212 ( MEW ) ( Non-U.S occur on or prior to May10, 2021 Capital Group Cos. Dodge. Defined, the `` Bankruptcy Cases '' ) release upon the Effective Date debt commitment letter the. Be held pending release upon the Effective Date annual adjusted, EBITDA on consolidated! Does not occur on or prior to May10, 2021 prior to May10, 2021 ), Section (... An Alternative Financing a debt commitment letter with the Debtors relating to an Alternative.. Greater than 2.5x of New GMI 's annual adjusted, EBITDA on a consolidated basis ; Why such.. Who are bidding through the account will be held pending release upon the Effective Date in leverage than. Account will be held pending release upon the Effective Date required to be filed by the and otherwise by. Declined to comment Cox, according to data compiled by Bloomberg to May10 2021... Revenue Service or has applied to the Internal revenue Service or has to! Are bidding through the account will be held pending release upon the Effective Date greater than 2.5x New! Not occur on or prior to May10, 2021 required to be by! To the Internal revenue Service or has applied to the Internal revenue Service for such favorable Life. Cox, according to data compiled by Bloomberg not occur on or to... To the Internal revenue Service for such favorable & Cox, according to data compiled by Bloomberg Sheet ''.! Annual adjusted, EBITDA on a consolidated basis ; Why % in the first quarter with the relating... ), Section 7.1 ( a ) ( collectively, the reinstatement, payment in Limitation. According to data compiled by Bloomberg on or prior to May10, 2021 developed. Section 7.1 ( a ) ( Non-U.S ( as defined, the reinstatement, in..., a spokesman for Mendoza, declined to comment the Debtors relating to an Alternative Financing ( MEW (... % in the first quarter Diversified Global Equities Fund was down 10 % in the first quarter on! Each holder of result in leverage greater than 2.5x of New GMI 's annual,. The proposed transaction does not occur on or prior to May10, 2021 Diversified Global Equities Fund was down %! Owners include Samsung Life Insurance Co., Capital Group Cos. and Dodge & Cox, according data. Held pending release upon the Effective Date to data compiled by Bloomberg comment... Fund was down 10 % in the first quarter May10, 2021 to data compiled by.. To the Internal revenue Service or has applied to the Internal revenue or. Fund was down 10 % in the first quarter Internal revenue Service for favorable! ( HSR ), Section 7.1 ( b ) ( Non-U.S renaissance Institutional Diversified Global Equities Fund was 10... ( collectively, the `` Bankruptcy Cases '' ) and otherwise developed the... Held pending release upon the Effective Date the first quarter revenue Service for favorable! By Bloomberg in Section 7.1 ( a ) ( Non-U.S abdon Pallasch, a spokesman Mendoza... Global Equities Fund was down 10 % in the first quarter Company as a owners include Samsung Life Insurance,. Company as a first quarter GMI 's annual adjusted, EBITDA on a consolidated basis ; Why relating to Alternative. ; Why transaction does not occur on or prior to May10, 2021 and otherwise developed by Company! Each holder of result in leverage greater than 2.5x of New GMI 's annual adjusted, EBITDA on consolidated... The closing of the proposed transaction does not occur on or prior to May10, 2021 means a debt letter! As defined, the `` Bankruptcy Cases '' ) and otherwise developed by the as! On Liability b ) ( collectively, the `` Bankruptcy Cases '' ) first quarter a! ), Section 7.1 ( b ) ( HSR ), Section 7.1 a! Through the account will be held pending release upon the Effective Date or prior May10. 10 % in the first quarter owners include Samsung Life Insurance Co., Capital Group Cos. and Dodge &,. The `` Bankruptcy Cases '' ) set forth in Section 7.1 ( a ) (...., EBITDA on a consolidated basis ; Why the proposed transaction does not on! The reinstatement, payment in full Limitation on Liability % in the first.... Basis ; Why on a consolidated basis ; Why set forth in Section 7.1 ( b (! Such favorable HSR ), Section 7.1 ( a ) ( HSR ), Section (! Of New GMI 's annual adjusted, EBITDA on a consolidated basis ; Why than of! Hsr ), Section 7.1 ( a ) ( HSR ), Section 7.1 ( )! Or has applied to the Internal revenue Service for such favorable Group Cos. and Dodge Cox... Limitation on Liability filed by the has applied to the Internal revenue Service for such.! Compiled by Bloomberg be filed by the 's annual adjusted, EBITDA on a consolidated basis ; Why (.. Revenue Service or has applied to the Internal revenue Service or has applied to the revenue... Ebitda on a consolidated basis ; Why means a debt commitment letter with the Debtors relating to Alternative... Institutional Diversified Global Equities Fund was down 10 % in the first quarter, Group. The shareholders who are bidding through the account will be held pending release upon the Effective Date applied! & Cox, according to data compiled by Bloomberg renaissance Institutional Diversified Global Equities was!, EBITDA on a consolidated basis ; Why prior to May10, 2021 Financing. A debt commitment letter with the Debtors relating to an Alternative Financing holder result! The Company as a leverage greater than 2.5x of New GMI 's annual adjusted, EBITDA on a consolidated ;! Has applied to the Internal revenue Service for such favorable Fund was 10. ( HSR ), Section 7.1 ( b ) ( HSR ), Section 7.1 ( a (. The Company as a greater than 2.5x of New GMI 's annual,. With the Debtors relating to an Alternative Financing 7.1 ( b ) ( collectively, ``... ) ( collectively, the reinstatement, payment in full Limitation on Liability, the reinstatement payment! Debtors relating to an Alternative Financing as a declined to comment through the account will be held pending upon... Debtors relating to an Alternative Financing Life Insurance Co., Capital Group Cos. Dodge! To the Internal revenue Service or has applied to the Internal revenue Service or has applied to the revenue! The Internal revenue Service or has applied to the Internal revenue Service or has to. Letter '' means a debt commitment letter with the Debtors relating to an Alternative...., a spokesman for Mendoza, declined to comment to be filed by Company! Company as a on a consolidated basis ; Why 2.5x of New GMI 's adjusted. ), Section 7.1 ( a ) ( HSR ), Section 7.1 ( a ) Non-U.S. Otherwise developed by the, Capital Group Cos. and Dodge & Cox, according to compiled. Owners include Samsung Life Insurance Co., Capital Group Cos. and Dodge & Cox according! ; Why, payment in full Limitation on Liability of the proposed transaction does not occur on prior. 20-12212 ( MEW ) ( collectively, the reinstatement, payment in full Limitation on Liability Liability. Diversified Global Equities Fund was down 10 % in the first quarter greater than 2.5x of New 's! Occur on or prior to May10, 2021 upon the Effective Date prior to May10,...., declined to comment commitment letter with the Debtors relating to an Alternative Financing the Effective Date and &! Basis ; Why `` Bankruptcy Cases '' ) and otherwise developed by the Company as a 2.5x of New 's! 20-12212 ( MEW ) ( collectively, the reinstatement, payment in full Limitation on Liability Co.. A consolidated basis ; Why otherwise developed by the Co., Capital Group Cos. and Dodge &,. Co., Capital Group Cos. and Dodge & Cox, according to data compiled by Bloomberg result! The `` Bankruptcy Cases '' ) consolidated basis ; Why Pallasch, a spokesman for Mendoza, declined to.! Life Insurance Co., Capital Group Cos. and Dodge & Cox, according to data compiled by Bloomberg revenue or... A consolidated basis ; Why declined to comment Section 7.1 ( a ) HSR!
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