Common use of Failure to Exercise Subscription Rights Clause in Contracts

Failure to Exercise Subscription Rights. Unexercised Subscription Rights will be relinquished at the Rights Expiration Time. If, on or prior to the Rights Expiration Time, the Subscription Agent for any reason does not receive from an Eligible Offeree or its Subscription Nominee a duly completed Rights Exercise Form or payment of the Rights Exercise Price is not made into the Subscription Escrow Account, then unless otherwise approved by the Debtors, the Requisite Consenting Second Lien Creditors and the Requisite Commitment Parties, such Eligible Offeree shall be deemed to have irrevocably relinquished and waived its right to exercises the Subscription Rights in the Rights Offering. Any attempt to exercise Subscription Rights after the Rights Expiration Time shall be null and void and nether New Permian Corp. nor the Debtor shall be obligated to honor any such purported exercise received by the Subscription Agent after the Rights Expiration Time regardless of when the documents relating thereto were sent. The method of delivery of the Rights Exercise Form and any other required documents is at each Eligible Offeree’s option and sole risk, and delivery will be considered made only when actually received by the Subscription Agent. Delivery by reputable overnight courier is encouraged and strongly recommended. In all cases, you should allow sufficient time to ensure timely delivery prior to the Rights Expiration Time. The risk of non-delivery of the Rights Exercise Form and any other required documents sent to the Subscription Agent in connection with the exercise of the Subscription Rights lies solely with the holders of the Allowed Unsecured Notes Claims, and none of the Debtors, the reorganized Debtors, New Permian Corp., the Commitment Parties, or any of their respective officers, directors, employees, agents or advisers, including the Subscription Agent, assumes the risk of non-delivery under any circumstance whatsoever.

Failure to Exercise Subscription Rights. Unexercised Subscription Rights that are not exercised in accordance with these Rights Offering Procedures by the Subscription Expiration Deadline will be relinquished at the Rights Expiration Time. If, on or prior to the Rights Expiration Time, the Subscription Agent for any reason does not receive from an Eligible Offeree or its Subscription Nominee a duly completed Rights Exercise Form or payment Expiration Deadline, and none of the Rights Exercise Price is not made into the Subscription Escrow Account, then unless otherwise approved by the Debtors, the Requisite Consenting Second Lien Creditors and Reorganized Debtors, the Requisite Commitment PartiesBackstop Investors or the Plan Sponsors nor any of their respective employees, such Eligible Offeree Affiliates, or professionals shall be deemed have any liability for any failure to have irrevocably relinquished and waived its right to exercises the exercise Subscription Rights in the Rights OfferingRights. Any attempt to exercise Subscription Rights after the Rights Subscription Expiration Time Deadline shall be null and void and nether New Permian Corp. nor the Debtor Company shall not be obligated (but, in consultation with the Plan Sponsors, shall be obligated permitted) to honor any such purported exercise received by the Subscription Agent after the Rights Subscription Expiration Time Deadline regardless of when the documents relating thereto were sent. The method of delivery of the Rights Exercise Form applicable Subscription Agreement and any other required documents is at each Eligible OffereeExisting Hertz Shareholder’s or Eligible Unsecured Funded Debt Holder’s option and sole risk, and delivery will be considered made only when actually received by the Subscription Agent. Delivery If delivery is by reputable overnight courier mail, registered mail with return receipt requested, properly insured, is encouraged and strongly recommended. In all cases, you should allow sufficient time to ensure timely delivery prior by the Subscription Expiration Deadline. HERTZ GLOBAL HOLDINGS, INC. RIGHTS OFFERING INSTRUCTIONS FOR ELIGIBLE EXISTING HERTZ SHAREHOLDERS AND ELIGIBLE UNSECURED FUNDED DEBT HOLDERS Terms used and not defined herein or in the Subscription Agreement shall have the meaning assigned to them in the Plan. To elect to participate in the Rights Expiration Time. The risk of non-delivery of Offering, you must follow the Rights Exercise Form and any other required documents sent to the Subscription Agent in connection with the exercise of the Subscription Rights lies solely with the holders of the Allowed Unsecured Notes Claims, and none of the Debtors, the reorganized Debtors, New Permian Corp., the Commitment Parties, or any of their respective officers, directors, employees, agents or advisers, including the Subscription Agent, assumes the risk of non-delivery under any circumstance whatsoever.instructions set out below:

Failure to Exercise Subscription Rights. Unexercised Subscription Rights Offering Shares that are not exercised will be relinquished at on the Rights Subscription Expiration TimeDeadline. If, on or prior to the Rights Subscription Expiration TimeDeadline, the Subscription Agent for any reason does not receive from a Holder of an Eligible Offeree or its Subscription Nominee Allowed Unsecured Funded Debt Claim a duly completed Rights Exercise applicable Subscription Form (with accompanying IRS Form W-9 or payment of the Rights Exercise Price is not made into the Subscription Escrow Accountappropriate IRS Form W-8, then unless otherwise approved as applicable, and any other documentation required by the Debtors, the Requisite Consenting Second Lien Creditors and the Requisite Commitment Partiesthese procedures), such Eligible Offeree Holder of an Allowed Unsecured Funded Debt Claim shall be deemed to have irrevocably relinquished and waived its right to exercises the Subscription Rights participate in the Rights OfferingOffering in respect of Reorganized Hertz Parent Common Interests. Any attempt to exercise Subscription Rights after the Rights Subscription Expiration Time Deadline in respect of Unsecured Funded Debt Claims shall be null and void and nether New Permian Corp. nor the Debtor Company shall not be obligated to honor any such purported exercise received by the Subscription Agent after the Rights Subscription Expiration Time Deadline regardless of when the documents relating thereto were sent. The method of delivery of the Rights Exercise applicable Subscription Form and any other required documents is at each Eligible OffereeHolder of an Allowed Unsecured Funded Debt Claim’s option and sole risk, and delivery will be considered made only when actually received by the Subscription Agent. Delivery If delivery is by reputable overnight courier mail, registered mail with return receipt requested, properly insured, is encouraged and strongly recommended. In all cases, you should allow sufficient time to ensure timely delivery prior by the Subscription Expiration Deadline. HERTZ GLOBAL HOLDINGS, INC. RIGHTS OFFERING INSTRUCTIONS FOR HOLDERS OF ALLOWED UNSECURED FUNDED DEBT CLAIMS Terms used and not defined herein shall have the meaning assigned to them in the Plan. To elect to participate in the Rights Expiration Time. The risk of non-delivery of Offering, you must follow the Rights Exercise Form and any other required documents sent to the Subscription Agent in connection with the exercise of the Subscription Rights lies solely with the holders of the Allowed Unsecured Notes Claims, and none of the Debtors, the reorganized Debtors, New Permian Corp., the Commitment Parties, or any of their respective officers, directors, employees, agents or advisers, including the Subscription Agent, assumes the risk of non-delivery under any circumstance whatsoever.instructions set out below:

Failure to Exercise Subscription Rights. Unexercised Subscription Rights Offering Shares that are not exercised will be relinquished at on the Rights Subscription Expiration TimeDeadline. If, on or prior to the Rights Subscription Expiration TimeDeadline, the Subscription Agent for any reason does not receive from an Eligible Offeree or its Subscription Nominee Unsecured Funded Debt Holder a duly completed Rights Exercise applicable Subscription Form (with accompanying IRS Form W-9 or payment of the Rights Exercise Price is not made into the Subscription Escrow Accountappropriate IRS Form W-8, then unless otherwise approved as applicable, and any other documentation required by the Debtors, the Requisite Consenting Second Lien Creditors and the Requisite Commitment Partiesthese procedures), such Eligible Offeree Unsecured Funded Debt Holder shall be deemed to have irrevocably relinquished and waived its right to exercises the Subscription Rights participate in the Rights OfferingOffering in respect of Eligible Holder Securities. Any attempt to exercise Subscription Rights after the Rights Subscription Expiration Time Deadline in respect of Unsecured Funded Debt Claims shall be null and void and nether New Permian Corp. nor the Debtor Company shall not be obligated to honor any such purported exercise received by the Subscription Agent after the Rights Subscription Expiration Time Deadline regardless of when the documents relating thereto were sent. The method of delivery of the Rights Exercise applicable Subscription Form and any other required documents is at each Eligible OffereeUnsecured Funded Debt Holder’s option and sole risk, and delivery will be considered made only when actually received by the Subscription Agent. Delivery If delivery is by reputable overnight courier mail, registered mail with return receipt requested, properly insured, is encouraged and strongly recommended. In all cases, you should allow sufficient time to ensure timely delivery prior by the Subscription Expiration Deadline. HERTZ GLOBAL HOLDINGS, INC. RIGHTS OFFERING INSTRUCTIONS FOR ELIGIBLE UNSECURED FUNDED DEBT HOLDERS Terms used and not defined herein or in the Subscription Agreement shall have the meaning assigned to them in the Plan. To elect to participate in the Rights Expiration Time. The risk of non-delivery of Offering, you must follow the Rights Exercise Form and any other required documents sent to the Subscription Agent in connection with the exercise of the Subscription Rights lies solely with the holders of the Allowed Unsecured Notes Claims, and none of the Debtors, the reorganized Debtors, New Permian Corp., the Commitment Parties, or any of their respective officers, directors, employees, agents or advisers, including the Subscription Agent, assumes the risk of non-delivery under any circumstance whatsoever.instructions set out below: