Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 120

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 120
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 content of the Rules on Mergers and Acquisitions of Domestic Enterprises
by Foreign Investors and any official clarifications, guidance, interpretations or implementation rules in connection with or related
thereto (the “PRC Mergers and Acquisitions Rules”) jointly promulgated by the Ministry of Commerce, the State Assets
Supervision and Administration Commission, the State Tax Administration, the State Administration of Industry and Commerce, the CSRC and
the State Administration of Foreign Exchange on August 8, 2006 and amended on June 22, 2009, including the provisions thereof which purport
to require offshore special purpose entities formed for listing purposes and controlled directly or indirectly by PRC companies or individuals
to obtain the approval of the CSRC prior to the listing and trading of their securities on an overseas share exchange. The issuance and
sale of the Securities, the listing and trading of the Registrable Securities (as defined in the Registration Rights Agreement) on NASDAQ
Capital Market and the consummation of the transactions contemplated by this Agreement (i) are not and will not be, as of the date hereof
or at such Closing Date, adversely affected by the PRC Mergers and Acquisitions Rules and (ii) do not require the prior approval of the
CSRC.

(yy) . Other than Permitted Indebtedness (as defined in the Notes) secured by Permitted Liens (as defined in the Notes), if any, no Indebtedness of the Company, at the applicable Closing, will be senior to, or pari passuwith, the Notes in right of payment, whether with respect to payment or redemptions, interest, damages, upon liquidation or dissolution or otherwise.

(zz) .
The Company and its Subsidiaries’ information technology assets and equipment, computers, systems, networks, hardware, software,
websites, applications, and databases (collectively, “IT Systems”) are adequate for, and operate and perform in all
material respects as required in connection with the operation of the business of the Company and its subsidiaries as currently conducted,
free and clear of all material bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants that would reasonably
be expected to have a Material Adverse Effect on the Company’s business. The Company and its Subsidiaries have implemented and
maintained commercially reasonable physical, technical and administrative controls, policies, procedures, and safeguards to maintain
and protect their material confidential information and the