Company: KAVL
Filing Date: 2025-06-16
Form Type: S-3
Source: 0001731122-25-000885
Chunk: 43

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-06-16
Form: S-3
Chunk 43
---
 premium and interest amount with respect to all of the debt securities
of any series will be due and payable immediately without any declaration or other act on the part of the trustee or the holders of the
debt securities of that series.

The holders of a majority in principal amount of the
outstanding debt securities of a series will have the right to waive any existing default or compliance with any provision of the indenture
or the debt securities of that series and to direct the time, method, and place of conducting any proceeding for any remedy available
to the trustee, subject to certain limitations specified in the indenture.

No holder of any debt security of a series will have
any right to institute any proceeding with respect to the indenture or for any remedy under the indenture, unless:

<div align='center'>24</div>

| ● | the holder gives to the trustee written notice of a continuing event of default; |

| ● | the holders of at least 25% in aggregate principal amount of the outstanding debt securities of the affected series make a written request and offer reasonable indemnity to the trustee to institute a proceeding as trustee; |

| ● | the trustee fails to institute a proceeding within 60 days after such request; and |

| ● | the holders of a majority in aggregate principal amount of the outstanding debt securities of the affected series do not give the trustee a direction inconsistent with such request during such 60-day period. |

These limitations do not, however, apply to a suit
instituted for payment on debt securities of any series on or after the due dates expressed in the debt securities.

Modification and Waiver

From time to time, we and the trustee may, without
the consent of holders of the debt securities of one or more series, amend the indenture or the debt securities of one or more series,
or supplement the indenture, for certain specified purposes, including:

| ● | to provide that the surviving entity following a change of control of our company permitted under the indenture will assume all of our obligations under the indenture and debt securities; |

| ● | to provide for certificated debt securities in addition to uncertificated debt securities; |

| ● | to comply with any requirements of the SEC under the Trust Indenture Act of 1939; |

| ● | to cure any ambiguity, defect or inconsistency, or make any other change that does not materially and adversely affect the rights of any holder; and |

| ● | to appoint a successor trustee under the indenture with