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{"key": "set-aside", "type": "clause", "offset": [8307, 8316]}, {"key": "time-of-closing", "type": "definition", "offset": [8347, 8362]}], "snippet": "(a) By the adoption of the Merger, and by virtue of the execution of this Agreement and/or acceptance of any benefits thereof, including any consideration payable pursuant to this Agreement, each of the Securityholders irrevocably nominate, constitute and appoint the Representative, as of the Closing, as the true and lawful agent and attorney in fact of each Securityholder, for all purposes in connection with this Agreement, and any related agreements, with full power in its, his or her name and on its, his or her behalf to act according to the terms of this Agreement and the Ancillary Agreements in the discretion of the Representative, and to do all things and to perform all acts, including (1) amending the Ancillary Agreements, (2) waiving rights, (3) discharging liabilities and obligations, (4) determining, disputing and facilitating the disbursement of the Milestone Payments and (5) executing and delivering all agreements, certificates, receipts, instructions and other instruments contemplated by, or deemed advisable in connection with, the Ancillary Agreements. Any and all such actions taken by the Representative on behalf of the Securityholders as provided hereunder shall be binding on all Securityholders, and Shareholder Representative Services LLC hereby accepts such appointment. This power of attorney and all authority hereby conferred is coupled with an interest, is granted in consideration of the mutual covenants and agreements made herein, shall be irrevocable and shall not be terminated by any act of any one or more Securityholders, or by operation of applicable law, whether by death or other event.\n(b) All decisions and actions by the Representative, including any agreement between the Representative and \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 relating to the determination of the Merger Consideration and the determination, dispute and facilitating the disbursement of the Milestone Payments pursuant to this Agreement, shall be binding upon the Securityholders, and no Securityholder shall have the right to object, dissent, protest or otherwise contest the same.\n(c) Each Securityholder agrees that: (i) Kardigan and its Affiliates shall be able to rely conclusively on the instructions and decisions of the Representative as to the determination of the Merger Consideration and the determination, dispute and facilitating the disbursement of the Milestone Payments pursuant to this Agreement or any other actions required to be taken by the Representative under the Ancillary Agreements, and no Securityholder shall have any cause of action against Kardigan or its Affiliates for any action taken by such Person in reliance upon the instructions or decisions of the Representative; (ii) Kardigan shall be required to file and negotiate any claims or disputes related to or in connection with the Ancillary Agreements, including the determination of the Merger Consideration and the determination, dispute and disbursement of the Milestone Payments only with the Representative (on behalf of the Securityholders) and not with each Securityholder; (iii) all actions, decisions and instructions of the Representative shall be conclusive and binding upon all Securityholders and no Securityholder shall have any cause of action against the Representative; (iv) the provisions of this Section 1.4 are independent and severable, are irrevocable and coupled with an interest and shall be enforceable notwithstanding any rights or remedies that any Securityholder may have in connection with the transactions contemplated hereby; and (v) the provisions of this Section 1.4 shall be binding upon the executors, heirs, legal representatives and successors of each Securityholder, and any references in this Agreement to a Securityholder shall mean and include the successors to such Securityholder\u2019s rights hereunder, whether pursuant to testamentary disposition, the laws of descent and distribution or otherwise.\n(d) The Representative will incur no liability in connection with its services pursuant to this Agreement and any related agreements except to the extent resulting from its gross negligence or willful misconduct. The Representative shall not be liable for any action or omission pursuant to the advice of counsel. The Securityholders will indemnify, defend and hold harmless the Representative from and against any and all losses, liabilities, damages, claims, penalties, fines, forfeitures, actions, fees, costs and expenses (including the fees and expenses of counsel and experts and their staffs and all expense of document location, duplication and shipment) (collectively, \u201cRepresentative Losses\u201d) arising out of or in connection with the Representative\u2019s enforcement of its rights under this Agreement or any other agreement entered into in connection with the transactions contemplated by this Agreement, in each case as such Representative Loss is suffered or incurred; provided, that in the event that any such Representative Loss is finally adjudicated to have been caused by the bad faith, fraud, gross negligence or willful misconduct of the Representative, the Representative will reimburse the Securityholders the amount of such indemnified Representative Loss to the extent attributable to such fraud, bad faith, gross negligence or willful misconduct. Representative Losses may be recovered by the Representative from (i) the funds in the Expense Fund and (ii) any other funds that become payable to the Securityholders under this Agreement at such time as such amounts would otherwise be distributable to the Securityholders; provided, that while the Representative may be paid from the aforementioned sources of funds, this does not relieve the Securityholders from their obligation to promptly pay such Representative Losses as they are suffered or incurred. In no event will the Representative be required to advance its own funds on behalf of the Securityholders or otherwise. Notwithstanding anything in this Agreement to the contrary, any restrictions or limitations on liability or indemnification obligations of, or provisions limiting the recourse against non-parties otherwise applicable to, the Securityholders set forth elsewhere in this Agreement are not intended to be applicable to the indemnities provided to the Representative hereunder. The foregoing indemnities will survive the Closing, resignation or removal of the Representative or the termination of this Agreement.\n(e) The Representative may resign at any time upon 30 days\u2019 written notice, and may be removed for any reason or no reason by approval from and by written consent of a majority in interest of the Stockholders; provided, however, in no event shall Representative be removed without the Stockholders having first appointed a new Representative who shall assume such duties immediately upon the removal of Representative. Notice of such vote or a copy of the written consent appointing such new Representative shall be sent to \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587, such appointment to be effective upon the later of the date indicated in such consent or the date such notice is received by \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587; provided, that until such notice is received, \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 shall be entitled to rely on the decisions and actions of the prior Representative as described herein.\n(f) Pursuant to Section 2.2(c), at the Closing, Kardigan shall deposit, on behalf of the Securityholders, the Expense Fund Amount to an account designated by the Representative (the \u201cExpense Fund\u201d), which will be used for any expenses incurred by the Representative. The Securityholders will not receive any interest or earnings on the Expense Fund and irrevocably transfer and assign to the Representative any ownership right that they may otherwise have had in any such interest or earnings. The Representative will hold these funds separate from its corporate funds and will not voluntarily make these funds available to its creditors in the event of bankruptcy. As soon as practicable following the completion of the Representative\u2019s responsibilities, the Representative will deliver any remaining balance of the Expense Fund to Kardigan for further distribution to the Securityholders in accordance with Section 2.3(d) (the \u201cExpense Fund Distribution\u201d). 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5921]}, {"key": "notice-to", "type": "clause", "offset": [5926, 5935]}, {"key": "approval-of", "type": "definition", "offset": [5993, 6004]}, {"key": "necessary-for", "type": "definition", "offset": [6035, 6048]}, {"key": "execution-of-this-agreement", "type": "clause", "offset": [6070, 6097]}], "snippet": "(a) The parties have agreed that it is desirable to designate a representative to act on behalf of the Fully-Diluted Stockholders for certain limited purposes, as specified herein. The parties have designated \u2587\u2587\u2587\u2587\u2587\u2587\u2587, Dubilier & Rice, LLC as the initial Representative, and the Stockholder Consent and the executed Letters of Transmittal will expressly ratify and approve such designation.\n(b) The Company hereby agrees that Parent and the Escrow Agent shall be able to rely conclusively on the instructions and decisions of the Representative as to the settlement of any claims against the Purchase Price Adjustment Escrow Amount pursuant to the Purchase Price Adjustment Escrow Agreement, to the settlement of any claims against the Indemnification Escrow Amount pursuant to the Indemnification Escrow Agreement or as to any actions required or permitted to be taken by the Representative hereunder, under the Purchase Price Adjustment Escrow Agreement or under the Indemnification Escrow Agreement.\n(c) Upon written instruction to the Escrow Agent, all out-of-pocket fees and expenses (including legal, accounting and other advisors\u2019 fees and expenses, if applicable) reasonably incurred by the Representative in performing any actions under this Agreement (including in connection with the determination of the Conclusive Merger Consideration pursuant to Section 2.11, the Purchase Price Adjustment Escrow Agreement, the Indemnification Escrow Agreement and any Transfer Taxes paid by the Representative pursuant to Section 5.11(b)), will be paid out of the Representative \u2587\u2587\u2587\u2587\u2587\u2587 Account from time to time, as and when such fees and expenses are incurred and at the Representative\u2019s sole discretion. In addition, the Representative shall have the right to recover any of such fees and expenses from the Indemnification Escrow Account from any amount that would otherwise be distributed to the Fully-Diluted Stockholders and, prior to any such distribution, shall deliver to the Escrow Agent a certificate setting forth such fees and expenses actually incurred. The Representative shall establish with the Escrow Agent such terms and procedures for administering, investing and disbursing any amounts from the Representative Escrow Amount as it may determine in its reasonable judgment to be necessary, advisable or desirable to give effect to the provisions of this Agreement. If any balance of the Representative Escrow Amount remains undisbursed at such time as all disputes, claims and other matters relating to the transactions contemplated by this Agreement, the Purchase Price Adjustment Escrow Agreement, the Representative Escrow Agreement and all other instruments and agreements to be delivered pursuant hereto have been finally resolved, then (i) the Representative shall provide a written instruction to the Escrow Agent to deliver promptly from the Representative Escrow Account by wire transfer of immediately available funds to the Representative an amount in cash equal to the Common Stockholders\u2019 aggregate Ownership Percentage (in respect of such Common Stockholders\u2019 Common Stock) of the balance of the Representative Escrow Account and to the Surviving Corporation, an amount in cash equal to the remainder balance of the Representative Escrow Account, and (ii) upon receipt of any such amounts from the Escrow Agent, (A) the Representative shall promptly pay or cause to be paid to each Common Stockholder its applicable Ownership Percentage (in respect of such Common Stockholder\u2019s Common Stock) of the balance of the Representative Escrow Account, and the Surviving Corporation shall promptly pay to each Optionholder its applicable Ownership Percentage (in respect of such Optionholder\u2019s Options) of the balance of the Representative Escrow Account and to each RSU Holder its applicable Ownership Percentage (in respect of such RSU Holder\u2019s RSUs) of the balance of the Representative \u2587\u2587\u2587\u2587\u2587\u2587 Amount.\n(d) Each of the Company, \u2587\u2587\u2587\u2587\u2587\u2587 Sub and Parent acknowledges and agrees that the Representative is a party to this Agreement solely to perform certain administrative functions in connection with the consummation of the transactions contemplated hereby. Accordingly, each of the Company, \u2587\u2587\u2587\u2587\u2587\u2587 Sub and Parent acknowledges and agrees that the Representative shall have no liability to, and shall not be liable for any Losses of, any of the Company, Merger Sub, Parent or the Surviving Corporation in connection with any obligations of the Representative under this Agreement or otherwise in respect of this Agreement or the transactions contemplated hereby, except to the extent such Losses shall be proven to be the direct result of fraud or willful misconduct by the Representative in connection with the performance of its obligations hereunder.\n(e) All of the indemnities, immunities and powers granted to the Representative under this Agreement shall survive the Effective Time.\n(f) The Representative hereby represents and warrants to Parent and Merger Sub that:\n(i) The Representative has been duly formed and is validly existing as a limited liability company under the laws of the State of Delaware. The Representative has all requisite power and authority to execute and deliver this 95 Agreement, the Indemnification Escrow Agreement and the Purchase Price Adjustment Escrow Agreement.\n(ii) The execution and delivery by the Representative of this Agreement, the Indemnification Escrow Agreement and the Purchase Price Adjustment Escrow Agreement and the performance by the Representative of its obligations hereunder and thereunder do not and will not conflict with or violate any provision of any applicable law, rule or regulation of any Governmental Authority applicable to, or the organizational documents of, the Representative.\n(iii) Except (A) for filings under Section 2.3, (B) for filings under the HSR Act, and (C) as set forth in Section 3.3 of the Seller Disclosure Letter, no notice to, filing with, or authorization, registration, consent or approval of any Governmental Authority is necessary for the Representative\u2019s execution of this Agreement or the Purchase Price 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Borrower Representative \u2587\u2587\u2587\u2587\u2587\u2587 accepts such appointment.", "size": 60, "samples": [{"hash": "ekD3PrpaLe1", "uri": "/contracts/ekD3PrpaLe1#representative", "label": "Credit, Security and Guaranty Agreement (Arq, Inc.)", "score": 37.2464065552, "published": true}, {"hash": "85ithjbO7Ko", "uri": "/contracts/85ithjbO7Ko#representative", "label": "Credit, Security and Guaranty Agreement (Aspen Aerogels Inc)", "score": 36.9616699219, "published": true}, {"hash": "iO7NsXZGDp6", "uri": "/contracts/iO7NsXZGDp6#representative", "label": "Credit, Security and Guaranty Agreement (Shimmick Corp)", "score": 36.364818573, "published": true}], "hash": "1155848d7ea0481f97d1ae885220abf1", "id": 4}, {"snippet_links": [{"key": "the-term", "type": "definition", "offset": [0, 8]}, {"key": "this-article", "type": "definition", "offset": [37, 49]}, {"key": "an-employee", "type": "definition", "offset": [59, 70]}, {"key": "representative-of-the-union", "type": "clause", "offset": [74, 101]}, {"key": "the-grievant", "type": "clause", "offset": [109, 121]}, {"key": "representation-of-the-employee", "type": "clause", "offset": [198, 228]}, {"key": "level-iv", "type": "clause", "offset": [232, 240]}, {"key": "union-representative", "type": "clause", "offset": [255, 275]}], "snippet": "The term \"representative\" as used in this Article shall be an employee or representative of the Union who at the grievant's request may be present at Levels I through III, or appear telephonically. 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It typically specifies the individual or position empowered to make decisions, give notices, or execute documents related to the contract. By clearly identifying the representative, this clause ensures that communications and actions are legally binding and reduces the risk of disputes over authority or validity of contractual actions."}, "json": true, "cursor": ""}}