Company: EMCRF
Filing Date: 2025-07-28
Form Type: DEF 14A
Source: 0001641172-25-021158
Chunk: 72

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-28
Form: DEF 14A
Chunk 72
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 remain liable for that call notwithstanding the subsequent transfer of the Shares in respect       
 of which the call was made. A person shall not be liable for calls made after such person is no longer registered as Member in respect 
 of those Shares.                                                                                                                       |

Time when call made

| 7.4 | A                                                                                                                        
 call shall be deemed to have been made at the time when the resolution of the directors authorising the call was passed. |

Liability of joint holders

| 7.5 | Members                                                                                                                    
 registered as the joint holders of a Share shall be jointly and severally liable to pay all calls in respect of the Share. |

Interest on unpaid calls

| 7.6 | If                                                                                                                                    
 a call remains unpaid after it has become due and payable the person from whom it is due and payable shall pay interest on the amount 
 unpaid from the day it became due and payable until it is paid:                                                                       |

| (a) | at                                                                                     
 the rate fixed by the terms of allotment of the Share or in the notice of the call; or |

| (b) | if                                     
 no rate is fixed, at the Default Rate. |

The directors may waive payment of the interest wholly or in part.

Deemed calls

| 7.7 | Any                                                                                                                                   
 amount payable in respect of a Share, whether on allotment or on a fixed date or otherwise, shall be deemed to be payable as a call.  
 If the amount is not paid when due the provisions of these Articles shall apply as if the amount had become due and payable by virtue 
 of a call.                                                                                                                            |

Power to accept early payment

| 7.8 | The                                                                                                                                
 Company may accept from a Member the whole or a part of the amount remaining unpaid on Shares held by him although no part of that 
 amount has been called up.                                                                                                         |

Power to make different arrangements at time of issue of Shares

| 7.9 | Subject                                                                                                                             
 to the terms of allotment, the directors may make arrangements on the issue of Shares to distinguish between Members in the amounts 
 and times of payment of calls on their Shares.                                                                                      |

| Annex C-20 |

Notice of default

| 7.10 | If                                                                                                                               
 a call remains unpaid after it has become due and payable the directors may give to the person from whom it is due not less than 
 14 Clear Days’ notice requiring payment of:                                                                                      |

| (a) | the            
 amount unpaid; |