Common use of Kontoor Brands Financing Arrangements Clause in Contracts

Kontoor Brands Financing Arrangements. In connection with the Restructuring, Kontoor Brands shall enter into (or shall have entered into) the Kontoor Brands Financing Arrangements and related financing transactions described in the Information Statement as occurring prior to the Distribution Date (the “Kontoor Brands Financing Transactions”). Prior to the Distribution Time, (x) Kontoor Brands shall contribute all or a portion of the proceeds of the Kontoor Brands Financing Transactions to Xxx Xxxx, Inc., a Delaware corporation and a wholly owned subsidiary of Kontoor Brands (after giving effect to the preceding transactions contemplated by the Restructuring Plan) (“LBI”), as determined by VF in its sole and absolute discretion, which determination shall be conclusive (the “Cash Contribution”), and (y) Kontoor Brands shall, immediately following the Cash Contribution, distribute to VF all of the outstanding equity securities of LBI.