Powerfleet Financing Sample Clauses

Powerfleet Financing. (i) As of the date hereof, (A) Powerfleet has executed the Subscription Agreement and (B) Powerfleet is party to and has accepted a fully executed debt commitment letter, dated as of the date hereof (including all exhibits and annexes thereto and as amended or replaced from time to time after the date hereof in compliance with the terms thereof and Section 5.3, the “Debt Commitment Letter” and, together with the Subscription Agreement, the “Financing Documents”), between Powerfleet, on the one hand, and the Debt Financing Sources party thereto, on the other hand, pursuant to which such Debt Financing Sources have committed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein, as permitted by Section 5.3 to be amended, modified or replaced and any commitment letter (or similar agreement) with respect to any Alternative Financing arranged in compliance with Section 5.3(d) (the “Debt Financing” and, together with the Equity Financing, the “Financing”). There are no conditions to the Financing other than those set forth in the Financing Documents. (ii) Powerfleet has delivered to Sellers true, correct and complete copies of each of the Financing Documents as in effect on the date hereof and has also delivered to Sellers a true, correct and complete copy of any fee letter related to the Debt Commitment Letter as in effect on the date hereof, subject to redaction solely of fee and other economic provisions that are customarily redacted in connection with transactions of this type and that would not in any event adversely affect the availability, conditionality, enforceability or amount of the Debt Financing on the Closing Date. As of the date hereof, there are no side letters, understandings or other agreements, contracts or arrangements of any kind relating to the Financing Documents.