Company: SUNE
Filing Date: 2025-04-22
Form Type: S-3
Source: 0001213900-25-033892
Chunk: 36

Company: SUNation Energy, Inc.
Filing Date: 2025-04-22
Form: S-3
Chunk 36
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 the applicable trustee an opinion of counsel that states that the holders of the debt securities of that series will not recognize income, gain or loss for federal income tax purposes as a result of the deposit and will be subject to federal income tax on the same amounts and in the same manner and at the same times as would have been the case if no deposit, defeasance and discharge had been made; and |

| ● | if the debt securities of that series are listed on any domestic or foreign securities exchange, the debt securities will not be delisted as a result of the deposit. |

When we use the term “Eligible Instruments”
in this section, we mean monetary assets, money market instruments and securities that are payable in U.S. dollars only and essentially
risk free as to collection of principal and interest, including:

| ● | monetary assets, money market instruments and securities that are payable in U.S. dollars only and essentially risk free as to collection of principal and interest; or |

| ● | direct obligations of the United States for the payment of which its full faith and credit is pledged, or obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United States if the timely payment of the obligation is unconditionally guaranteed as a full faith and credit obligation by the United States. |

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In the event that we deposit money and/or Eligible
Instruments in trust and discharge our obligations under a series of debt securities as described above, then:

| ● | the applicable indenture, including, in the case of subordinated debt securities, the subordination provisions contained in the subordinated indenture, will no longer apply to the debt securities of that series; however, certain obligations to compensate, reimburse and indemnify the trustee, to register the transfer and exchange of debt securities, to replace lost, stolen or mutilated debt securities, to maintain paying agencies and the trust funds and to pay additional amounts, if any, required as a result of U.S. withholding taxes imposed on payments to non-U.S. persons will continue to apply; and |

| ● | holders of debt securities of that series can only look to the trust fund for payment of principal, any premium and any interest on the debt securities of that series. |

Defeasance of Certain Covenants and Certain Events of Default.At the time that we establish a series of debt securities under the applicable indenture, we can provide that
the debt securities of that series are subject to the covenant