Company: SERV
Filing Date: 2025-10-10
Form Type: 424B5
Source: 0001213900-25-098177
Chunk: 48

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-10-10
Form: 424B5
Chunk 48
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 securities of such series, except in each case a continuing
default (1) in the payment of the principal of, any premium or interest on, or any additional amounts with respect to, any debt security
of such series, or (2) in respect of a covenant or provision which cannot be modified or amended without the consent of each holder affected
thereby.

The indenture provides that the Company must periodically
furnish the trustee with a written statement as to the Company’s compliance with the covenants contained in the indenture and as
to the absence of default under the indenture terms.

The indenture provides that the trustee may withhold
notice to the holders of any default with respect to any series of debt securities (except in payment of principal of or interest or premium
on, or sinking fund payment in respect of, the debt securities) if and so long as the board of directors, the executive committee or a
trust committee of directors of the trustee and/or responsible officers of the trustee in good faith determine that the withholding of
such notice is in the best interest of the holders of securities of such series.

The indenture contains a provision entitling the
trustee to be indemnified by the holders before proceeding to exercise any trust or power under the indenture at the request of such holders.
The indenture provides that the holders of a majority in aggregate principal amount of the then outstanding debt securities of any series
may direct the time, method and place of conducting any proceedings for any remedy available to the trustee or of exercising any trust
or power conferred upon the trustee with respect to the debt securities of such series; provided, however, that the trustee may decline
to follow any such direction if, among other reasons, the trustee determines in good faith that the actions or proceedings as directed
may not lawfully be taken or would be unduly prejudicial to the holders of the debt securities of such series not joining in such direction.
The right of a holder to institute a proceeding with respect to a series of debt securities will be subject to certain conditions precedent
including, without limitation, that in case of an event of default specified in clause (a), (b) or (e) of the first paragraph above under
“- Events of Default,” holders of at least 25%, or in case of an event of default other than specified in clause (a), (b)
or (e) of the first paragraph above under “- Events of Default”, holders of at least a majority, in aggregate