Cerence Restructuring Transactions

Cerence Restructuring Transactions. The series of internal reorganization transactions by the Borrower and its Subsidiaries in connection with the Cerence Spin-Off, including certain Investments by any of the Borrower or its Subsidiaries in Subsidiaries that are not Loan Parties (each such Subsidiary, a "Cerence Non-Loan Party Subsidiary") and certain sales or other dispositions to Cerence or its subsidiaries such that Cerence and its subsidiaries will own and operate the automotive business of the Borrower and its Subsidiaries.