REHABILITATION EXIT SUPPORT AGREEMENTRehabilitation Exit Support Agreement • July 20th, 2017 • Ambac Financial Group Inc • Surety insurance • New York
This REHABILITATION EXIT SUPPORT AGREEMENT (as amended, supplemented or otherwise modified from time to time, and including the exhibits hereto, this “Agreement”), dated as of July 19, 2017, is entered into by and among Ambac Assurance Corporation (the “Company”), Ambac Financial Group, Inc. (“Parent” and, together with the Company, the “Ambac Parties”) and the undersigned holders (each, a “Holder,” and such Holders together, the “Group”) of a material portion of outstanding unpaid policy claims of the Segregated Account of Ambac Assurance Corporation (the “Segregated Account”) and a material portion of the outstanding surplus notes of the Company. Each of the Ambac Parties, each Holder, and any subsequent person or entity that becomes a party hereto in accordance with the terms hereof are referred to herein as the “Parties” and each individually as a “Party.”
July 19, 2017 CONFIDENTIALTier Ii Commitment • July 20th, 2017 • Ambac Financial Group Inc • Surety insurance
Reference is made to the term sheet attached hereto as Annex I (the “Term Sheet”), relating to the issuance by Ambac Assurance Corporation (the “Issuer”) of its notes secured by certain proceeds of the RMBS Litigations as further described in the Term Sheet (the “Notes”). Capitalized terms used herein without definition shall have the meanings given to them in the Term Sheet.
