Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 65

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 65
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 value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree
upon the fair market value of such security, then such dispute shall be resolved in accordance with the procedures in Section 23. All
such determinations shall be appropriately adjusted for any share splits, share dividends, share combinations, recapitalizations or other
similar transactions during such period.

(s) “Conversion Floor Price Condition” means that the relevant Alternate Conversion Price is being determined based on clause (x) of such definition.

(t) “Convertible Securities” means any shares or other security (other than Options) that is at any time and under any circumstances, directly
or indirectly, convertible into, exercisable or exchangeable for, or which otherwise entitles the holder thereof to acquire, any Ordinary
Shares.

(u) “Eligible Market” means The New York Stock Exchange, the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Select Market, the
Nasdaq Global Market or the Principal Market.

(v) “Eligible Marketable Securities” as of any date means marketable securities which would be reflected on a consolidated balance sheet of
the Company and its Subsidiaries prepared as of such date in accordance with GAAP, and which are permitted under the Company’s investment
policies as in effect on the Issuance Date or approved thereafter by the Company’s Board of Directors.

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(w) “Equity Conditions” means, with respect to an given date of determination: (i) on each day during the period beginning thirty calendar
days prior to such applicable date of determination and ending on and including such applicable date of determination either (x) one or
more Registration Statements filed pursuant to the Registration Rights Agreement shall be effective and the prospectus contained therein
shall be available on such applicable date of determination (with, for the avoidance of doubt, any Ordinary Shares previously sold pursuant
to such prospectus deemed unavailable) for the resale of all Ordinary Shares to be issued in connection with the event requiring this
determination (or issuable upon conversion of the Outstanding Amount being redeemed, as applicable, in the event requiring this determination
at the Alternate Conversion Price then in effect (without regard to any limitations on conversion set forth herein)) (each, a “Required Minimum Securities Amount”), in each case, in accordance with the terms of the Registration Rights Agreement and there shall
not have been during such period any Grace Periods (as defined in the