EX-99.7 8 tm2223321d1_ex99-7.htm EXHIBIT 99.7

Exhibit 99.7

Execution Version

 

AMENDED AND RESTATED SUPPLEMENTAL CONFIRMATION NO. 7

 

Date:August 10, 2022

 

To:QH Hungary Holdings Limited

BAH Center | 2 Furj street, Building B, Ground fl.

1124 Budapest, Hungary

Attn: Balazs Horvath Dr

T: +36 1 646 4638

Email: balazs.horvath@bekespartners.com, rozsa.juci@gmail.com

 

From:Citibank, N.A.

 

Reference Number:            To be advised.

 

The purpose of this Amended and Restated Supplemental Confirmation is to amend and restate the terms and conditions of the Transaction originally entered into between JPMorgan Chase Bank, National Association (“JPM”) and QH Hungary Holdings Limited (“Counterparty”) on March 9, 2021 (the “Original Transaction”), which has been novated to Citibank, N.A. (“Dealer”) pursuant to the novation agreement, dated August 10, 2022, entered into between JPM, Dealer and Counterparty. This Amended and Restated Supplemental Confirmation, dated August 10, 2022, entered into between Dealer and Counterparty, amends and restates in its entirety the Supplemental Confirmation, dated March 9, 2021, originally entered into between JPM and Counterparty and subsequently novated from JPM to Dealer (the “Original Supplemental Confirmation”), as is subject to the Master Confirmation specified below. Each party repeats to the other party the representations and warranties set forth in the Master Confirmation and in the Agreement (as defined in the Master Confirmation) (as if the Amendment and Restatement Date were the Trade Date, the date the parties entered into a Transaction and the date of the Master Confirmation). This Amended and Restated Supplemental Confirmation is a binding contract between Dealer and Counterparty as of the Amendment and Restatement Date for the Transaction referenced below.

 

1.            This Amended and Restated Supplemental Confirmation supplements, forms part of, and is subject to the Master Terms and Conditions for Prepaid Variable Share Forward Transactions dated as of May 19, 2020 between Dealer and Counterparty (as amended and supplemented from time to time, the “Master Confirmation”). All provisions contained in the Agreement (as modified and as defined in the Master Confirmation) shall govern this Amended and Restated Supplemental Confirmation, except as expressly modified below, and capitalized terms used but not defined herein shall have the meanings specified in the Master Confirmation.

 

2.            The terms of the Transaction to which this Amended and Restated Supplemental Confirmation relates are as follows:

 

Trade Date: March 9, 2021
Amendment and Restatement Date: August 10, 2022
Prepayment Amount: USD 10,884,459
Prepayment Date: The first Currency Business Day on which all of the conditions specified in Section 4 of the Master Confirmation are satisfied or waived by Dealer and Counterparty satisfied its obligations under Section 6(d) of the Master Confirmation; provided that, if such conditions are first all satisfied or waived after 3:00 p.m., New York time, on a Currency Business Day, the Prepayment Date shall be the next following Currency Business Day.
First Amendment Payment Amount: USD 208,891.48. Counterparty agrees to pay Dealer the First Amendment Payment Amount on the First Amendment Payment Date.
First Amendment Payment Date: The second Currency Business Day following the Amendment and Restatement Date.
Initial Share Price: USD 184.2694
Forward Floor Price: USD 184.2694
Forward Cap Price: USD 202.6963
Final Disruption Date: August 20, 2024
Contractual Dividend: USD 0.435 per quarter

 

1

 

 

For each Component of the Transaction, the Number of Shares and the Scheduled Valuation Date are as set forth below.

 

Component Number  Number of Shares  Scheduled Valuation Date
1  205  5/28/2024
2  205  5/29/2024
3  205  5/30/2024
4  205  5/31/2024
5  205  6/3/2024
6  205  6/4/2024
7  205  6/5/2024
8  205  6/6/2024
9  205  6/7/2024
10  205  6/10/2024
11  205  6/11/2024
12  205  6/12/2024
13  205  6/13/2024
14  205  6/14/2024
15  205  6/17/2024
16  205  6/18/2024
17  205  6/20/2024
18  205  6/21/2024
19  205  6/24/2024
20  205  6/25/2024
21  206  6/26/2024
22  206  6/27/2024
23  206  6/28/2024
24  206  7/1/2024
25  206  7/2/2024
26  206  7/5/2024
27  206  7/8/2024
28  206  7/9/2024
29  206  7/10/2024
30  206  7/11/2024
31  205  7/12/2024
32  205  7/15/2024
33  207  7/16/2024
34  207  7/17/2024
35  207  7/18/2024
36  207  7/19/2024
37  207  7/22/2024
38  207  7/23/2024
39  207  7/24/2024
40  207  7/25/2024
41  207  7/26/2024
42  207  7/29/2024
43  207  7/30/2024
44  207  7/31/2024
45  207  8/1/2024
46  207  8/2/2024
47  207  8/5/2024
48  207  8/6/2024
49  207  8/7/2024
50  207  8/8/2024

 

2

 

 

Counterparty hereby agrees (a) to check this Amended and Restated Supplemental Confirmation carefully and immediately upon receipt so that errors or discrepancies can be promptly identified and rectified and (b) to confirm that the foregoing correctly sets forth the terms of the agreement between us with respect to the particular Transaction to which this Amended and Restated Supplemental Confirmation relates by manually signing this Amended and Restated Supplemental Confirmation and providing any other information requested herein or in the Master Confirmation and immediately sending a facsimile transmission of an executed copy to us.

 

 

  Yours sincerely,
   
  CITIBANK, N.A.
   
  By: /s/ Eric Natelson
    Authorized Representative

 

 

Confirmed as of the date first above written:

 

QH HUNGARY HOLDINGS LIMITED  
   
By: /s/ Judit Rozsa  
  Name: Judit Rozsa  
  Title: Director  

 

[Signature Page to A&R Supplemental Confirmation No. 7 (Citi)]