Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 393

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1A
Chunk 393
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 accelerated due to an event of default, or accelerated up to six installments by the Investor), bears interest at a rate of seven
percent (7%) per annum, which shall automatically be increased to eighteen percent (18.0%) per annum in the event of default and, other
than the First Convertible Note, ranks senior to the Company’s existing and future unsecured indebtedness. The Convertible Note
is convertible in whole or in part at the option of the Investor into shares of Common Stock (the “Conversion Shares”) at
the Conversion Price (as defined below) at any time following the date of issuance of the Convertible Note. The Convertible Note is payable
monthly on each Installment Date (as defined in the Convertible Note) commencing on the earlier of December 1, 2024 and the effective
date of the initial registration statement required to be filed pursuant to the Registration Rights Agreement (as defined below) in an
amount equal the sum of (A) the lesser of (x) $79,545 and (y) the outstanding principal amount of the Convertible Note, (B) interest due
and payable under the Convertible Note and (C) other amounts specified in the Convertible Note (such sum being the “Installment
Amount”); provided, however, if on any Installment Date, no failure to meet the Equity Conditions (as defined in the Convertible
Note) exits pursuant to the Convertible Note, the Company may pay all or a portion of the Installment Amount with shares of its common
stock. The portion of the Installment Amount paid with common stock shall be based on the Installment Conversion Price. “Installment
Conversion Price” means the lower of (i) the Conversion Price (defined below) and (ii) the greater of (x) 92% of the average of
the two (2) lowest daily volume-weighted average price (“VWAP”) (as defined in the Convertible Note) in the ten (10) trading
days immediately prior to each conversion date and (y) $0.75. “Equity Conditions Failure” means that on any day during the
period commencing twenty (20) trading days prior to the applicable Installment Notice Date or Interest Date (each as defined in the Convertible
Note) through the later of the applicable Installment Date or Interest Date and the date on which the applicable shares of Common Stock
are actually delivered to the Holder, the Equity Conditions have not