Company: XTIA
Filing Date: 2025-11-12
Form Type: 8-K
Source: 0001213900-25-108855
Chunk: 13

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-12
Form: 8-K
Item: Item 8.01
Chunk 13
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 amount equal to $1,840,000 with respect to the DN Note and $160,000
with respect to the AR Note, together with all accrued and unpaid interest on each Note as of the Second Required Payment Date, (iii)
no later than June 30, 2026 (the “ Third Required Payment Date”), the outstanding principal amount of each Note will be repaid
in an amount equal to $1,380,000 with respect to the DN Note and $120,000 with respect to the AR Note, together with all accrued and unpaid
interest on each Note as of the Third Required Payment Date, (iv) no later than September 30, 2026 (the “ Fourth Required Payment
Date”), the outstanding principal amount of each Note will be repaid in an amount equal to $1,380,000 with respect to the DN Note
and $120,000 with respect to the AR Note, together with all accrued and unpaid interest on each Note as of the Fourth Required Payment
Date, (v) the entire outstanding principal amount, together with all accrued and unpaid interest, of each Note will be repaid on or prior
to the one year anniversary of each Note (the “ Due Date”), and (vi) all outstanding accrued interest and the unpaid principal
amount of each Note will be due and payable in full on the earlier of (A) the Due Date, (B) 90 days following a capital raise (or the
last capital raise, in connection with a series of transactions, whether related or unrelated) where the Company or one or more of its
affiliates raise, as a result of a single transaction or a series of transactions occurring pursuant to one or more closings, in any case
after the date of the Note, an aggregate amount of $40 million or more, qualified by the limitation that not more than 20% of net proceeds
from any single financing will be applied towards payment of each Note, or (C) the date on which the Note becomes immediately due and
payable as a result of the occurrence of an event of default thereunder.

Interest will accrue on the outstanding principal balance of each Note
at an annual rate of 7.25%, computed based upon a 365-day year (the “ Interest Rate”). If interest is not paid as it becomes
due, it will be added to the principal. Our failure to pay the principal and interest of each Note when required will constitute an event
of default under the Notes