Skillsoft Forbearance Agreement

The above description of Skillsoft`s merger agreement and the proposed transactions is not complete and is subject to the actual agreement, the copy of which is presented in Appendix 2.1 in this current report on Form 8-K and the terms of which are referred to as reference. October 12, 2020, as part of the implementation of the Skillsoft MIH Ventures B.V. merger agreement. (“Prosus”) entered into a subscription agreement (“Prosus Subscription Agreement”) with Churchill and Churchill Sponsor, under which Prosus purchased 10,000,000 newly issued shares of Churchill Class A Common Stock at a purchase price of $10.00 per share to be issued at Closing Skillsoft (the “First Step Prosus Investment”). , and Churchill granted Prosus a 30-day option (the option) to subscribe to up to 40,000,000 newly issued shares of churchill Class A Common Stock, at a purchase price of $10.00 per share (or an additional number of shares that would lead to Prosus owning 35% of Churchill`s issued and outstanding shares on a fully diluted and converted basis immediately after Skillsoft closes) , at least subject to certain adaptations (the “prosus-investment in the second stage” and with the prosus investment of the first stage, the “Prosus PIPE Investment”). Exceptions are made in cases where a reduced interest rate has been granted (where the possibility of reducing the principal balance as quickly as possible and thus reducing the credit to value) or where the mode of lewdness applies for the term of the loan, i.e. a split loan in which part of the loan is parked until the expiry date , with the intention that, on that date, an appropriate refund vehicle (for example. B, asset sale) is available for full repayment of the loan. The trust in DasSkillsoft is demonstrated by thousands of leading organizations around the world, many within the Fortune 500. For more information, visit The truth is that Skillsoft began entering into leniency agreements before the end of April 2020, because payments of $42 million to the first and second holder of the deposit, was due before April 30, 2020.

(360 law). As part of the implementation of the Prosus subscription agreement, Prosus entered into a strategic support agreement with Churchill (the “Strategic Support Agreement”), under which Prosus agreed to provide certain business development and investor relations support services, if it exercised the option and owned at least 20% of the outstanding Churchill Class A Common Stock after the conclusion of the Pros PIPE investment. If Prosus exercises the option and concludes the Prosus PIPE investment, it also appoints an individual as chairman of Churchill`s board of directors, subject to the usual agreement of Churchill`s nominating and corporate governance committee. Borrowers can either opt for short-term relief by suspending their mortgage payment for a short period of time (known in the U.S. as leniency), or request reduced payments over the term of the loan (known in the U.S. as a credit change). Lenders are required to provide a specific reason for rejecting a request to amend difficult cases. Borrowers are encouraged to discuss with their respective bank`s internal claims area or file a dispute. In parallel with the entry into the labour agreement, Churchill also entered into a contract to transfer securities with Mr.

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