Company: SCLXW
Filing Date: 2025-12-05
Form Type: 424B3
Source: 0001193125-25-309798
Chunk: 20

Company: Scilex Holding Co
Filing Date: 2025-12-05
Form: 424B3
Chunk 20
---
 IV are true and correct as at such Closing Date with the same force and effect as if they had been made by the Borrower at such Closing Date. All of the representations, warranties, covenants and acknowledgments of the Borrower contained in this Article IV shall survive the execution and delivery of this Agreement and shall continue in full force and effect until the full and complete payment, performance and satisfaction of all Obligations and the Re-Delivery, notwithstanding any investigation made at any time by or on behalf of the Lender, its agents or representatives.

<div align='center'>ARTICLE V

NON-RECOURSE</div>

#### 5.1.
Non-Recourse

Notwithstanding anything else herein contained to the contrary or otherwise, the liability of the Borrower hereunder and the recourse of the Lender for payment and performance of the Obligations shall be limited to the Pledged Securities, and the Lender shall not have, under any circumstances, any right hereunder to any other assets of the Borrower.

<div align='center'>ARTICLE VI

EVENTS OF DEFAULT</div>

#### 6.1.
Events of Default

Notwithstanding any other term of this Agreement, all Obligations shall immediately become due and payable in any of the following events (each, an “Event of Default”):

the Borrower defaults in any payment of principal, interest, fees or other amounts when due under this Agreement and such default continues for three (3) Banking Days;

the the Borrower breaches any non-payment covenant or agreement contained in this Agreement and such breach is not cured within five (5) Banking Days of the occurrence thereof;

any of the representations and warranties contained herein shall prove to have been inaccurate when made;

<div align='center'>-12-</div>

there is a decrease in the closing price on the Exchange of the Listco Securities in respect of any Tranche by more than 20% from the Collateral Share Price applicable to such Tranche (a “ Share Price Default” ), provided that such Share Price Default is not cured by the Borrower within three (3) Banking Days of the occurrence of such Share Price Default by the Borrower either: (i) Delivering to the Borrower Securities Account, as Pledged Securities, such additional number of Listco Securities such that the loan-to-value (with the value of the Listco Securities being based on the closing price as of the date of the Share Price Default) is equal to 65% (including Pledged Securities Delivered