Company: APO
Filing Date: 2025-09-02
Form Type: 424B7
Source: 0000950142-25-002341
Chunk: 42

Company: Apollo Global Management, Inc.
Filing Date: 2025-09-02
Form: 424B7
Chunk 42
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 below). During
the continuance beyond any applicable grace period of any default in the payment of principal, premium, interest or any other payment
due on any of our Senior Indebtedness, we may not make any payment of principal of, or premium, if any, or interest on the subordinated
debt securities. In addition, upon any payment or distribution of our assets upon any dissolution, winding up, liquidation or reorganization,
the payment of the principal of, or premium, if any, and interest on the subordinated debt securities will be subordinated to the extent
provided in the subordinated indenture in right of payment to the prior payment in full of all our Senior Indebtedness. Because of this
subordination, if we dissolve or otherwise liquidate, holders of our subordinated debt securities may receive less, ratably, than holders
of our Senior Indebtedness. The subordination provisions do not prevent the occurrence of an event of default under the subordinated indenture.

The subordination provisions also apply in
the same way to each guarantor with respect to the Senior Indebtedness of such guarantor.

The term “Senior Indebtedness”
of a person means with respect to such person the principal of, premium, if any, interest on, and any other payment due pursuant to any
of the following, whether outstanding on the date of the subordinated indenture or incurred by that person in the future:

| • | all of the indebtedness of that person for borrowed money, including any indebtedness secured by a mortgage or other lien which is 
 (1) given to secure all or part of the purchase price of property subject to the mortgage or lien, whether given to the vendor of  
 that property or to another lender, or (2) existing on property at the time that person acquires it;                               |

| • | all of the indebtedness of that person evidenced by notes, debentures, bonds or other similar instruments sold by that person for 
 money;                                                                                                                            |

| • | all of the lease obligations which are capitalized on the books of that person in accordance with GAAP (as defined herein); |

| • | all indebtedness of others of the kinds described in the first two bullet points above and all lease obligations of others of the            
 kind described in the third bullet point above that the person, in any manner, assumes or guarantees or that the person in effect guarantees 
 through an agreement to purchase, whether that agreement is contingent