Company: SUNE
Filing Date: 2025-04-22
Form Type: S-3
Source: 0001213900-25-033892
Chunk: 37

Company: SUNation Energy, Inc.
Filing Date: 2025-04-22
Form: S-3
Chunk 37
---
 defeasance provisions of that indenture. Unless we specify otherwise in
the applicable prospectus supplement, the debt securities offered thereby will be subject to the covenant defeasance provisions of the
applicable indenture, and if we make the deposit and deliver the opinion of counsel described above in this section under the heading
“- Defeasance and Discharge,” we will not have to comply with any covenant we designate when we establish the series of debt
securities. In the event of a covenant defeasance, our obligations under the applicable indenture and the debt securities, other than
with respect to the covenants specifically designated upon establishing the debt securities, will remain in effect.

If we exercise our option not to comply with certain
covenants as described above and the debt securities of the series become immediately due and payable because an event of default has
occurred, other than as a result of an event of default specifically relating to any of such covenants, the amount of money and/or Eligible
Instruments on deposit with the applicable trustee will be sufficient to pay the principal, any interest, any premium and any other sums,
due on the debt securities of that series, such as sinking fund payments, on the date the payments are due under the applicable indenture
and the terms of the debt securities, but may not be sufficient to pay amounts due at the time of acceleration. However, we would remain
liable for the balance of the payments.

Subordination

The subordinated debt securities will be subordinate
to all of our existing and future Senior Debt, as defined below. Our “Senior Debt” includes the senior debt securities and
means the principal of, premium, if any, and interest on, rent under, and any other amounts payable on or in or in respect of any of our
indebtedness (including, without limitation, any obligations in respect of such indebtedness and any interest accruing after the filing
of a petition by or against us under any bankruptcy law, whether or not allowed as a claim after such filing in any proceeding under such
bankruptcy law), whether outstanding on the date of the senior indenture or thereafter created, incurred, assumed, guaranteed or in effect
guaranteed by us (including all deferrals, renewals, extensions, refinancings or refundings of, or amendments, modifications or supplements
to the foregoing). However, Senior Debt does not include:

| ● | any liability for federal, state, local or other taxes owed