Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 870

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 870
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 of endorsing negotiable instruments received in the ordinary course of the Company’s business; (xi)Indebtedness in respect of netting services, overdraft protections and otherwise in connection with deposit accounts; (xii)intercompany Indebtedness between the Company and its Subsidiaries not to exceed Five Million Dollars ($5,000,000); (xiii)so long as no Bitcoin Collateral Event has occurred, unsecured Indebtedness not otherwise permitted hereunder not to exceed Five Million Dollars ($5,000,000) at any time outstanding; provided, that if such Indebtedness is incurred by any Subsidiary of the Company, such Indebtedness shall be subject to a subordination agreement in form and substance reasonably acceptable to the Required Holders; and (xiv)extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (i) through (xi) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon the Company or its Subsidiary, as the case may be. (zz)“ Permitted Insurance Premium Indebtedness ” means Indebtedness incurred by the Company to finance insurance premiums in the ordinary course of business that is made expressly subordinate in right of payment to the Indebtedness evidenced by this Note, as reflected in a written agreement reasonably acceptable to the Holder, which Indebtedness does not provide at any time for (x) the payment, prepayment, repayment, repurchase or defeasance, directly or indirectly, of any principal or premium, if any, thereon until at least ninety-one (91) days after the Maturity Date or at any time an Event of Default has occurred (or, as a result of such payment, prepayment, repayment, repurchase or defeasance, directly or indirectly, an Event of Default would occur, as applicable) and (y) total interest and fees at a rate in excess of 12% per annum; provided that the aggregate amount of any Permitted Insurance Premium Indebtedness shall not exceed $2,000,000. (aaa) “ Permitted Liens ” means (i)any Lien for taxes not yet due or payable or delinquent or being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP; (ii)any statutory Lien arising in the ordinary course