Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 7

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 7
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), on the terms and conditions set forth in this Section 3.

(a) . Subject to the provisions of Section 3(d), at any time or times on or after the Issuance Date, the Holder shall be entitled
to convert any portion of the outstanding and unpaid Conversion Amount (as defined below) into validly issued, fully paid and non-assessable
Ordinary Shares in accordance with Section 3(c), at the Conversion Rate (as defined below). The Company shall not issue any fraction of
a Ordinary Share upon any conversion. If the issuance would result in the issuance of a fraction of a Ordinary Share, the Company shall
round such fraction of a Ordinary Share up to the nearest whole share. The Company shall pay any and all transfer, stamp, issuance and
similar taxes, costs and expenses (including, without limitation, fees and expenses of the Transfer Agent (as defined below)) that may
be payable with respect to the issuance and delivery of Ordinary Shares upon conversion of any Conversion Amount.

(b) . The number of Ordinary Shares issuable upon conversion of any Conversion Amount pursuant to Section 3(a) shall be determined
by dividing (x) such Conversion Amount by (y) the Conversion Price (the “Conversion Rate”).

(i) “Conversion Amount” means the sum of (x) 110% of the portion of the Principal to be converted, redeemed or otherwise with respect to which
this determination is being made and (y) all accrued and unpaid Interest with respect to such portion of the Principal amount and accrued
and unpaid Late Charges with respect to such portion of such Principal and such Interest, if any.

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(ii)
“Conversion Price” means, as of any Conversion Date or other date of determination, $[ ], subject to
adjustment as provided herein; provided, that with respect to any Interest included in any Conversion Amount, if the Market Price as
of such date of determination is less than the Conversion Price then in effect, the term “Market Price” shall replace
“Conversion Price” hereunder, mutatis mutandis, for the calculation of the aggregate number of Ordinary Shares
issuable upon conversion of any such Interest included in such Conversion Amount, as applicable.

(c) .

(i) . To convert any Conversion Amount into Ordinary Shares on any date (a “Conversion Date”), the Holder
shall deliver (whether via electronic mail or otherwise), for receipt on or prior to 11:59 p.m., New York time,