Company: NCEL
Filing Date: 2025-03-31
Form Type: 425
Source: 0001213900-25-025889
Chunk: 187

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: 425
Chunk 187
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(ii) Subject to
the requirements of Section 6.12, from time to time from and after the Closing Date, the Company shall make available for inspection and
review by the Investor during normal business hours and after reasonable notice, customary documentation reasonably requested by the Investor
and/or its appointed counsel or advisors to conduct due diligence; , , that after the Closing Date, the Investor’s
continued due diligence shall not be a condition precedent to the Company’s right to deliver to the Investor any VWAP Purchase Notice
or the settlement thereof except to the extent expressly contemplated by this Agreement.

Section 6.6. No Frustration; No Variable Rate Transactions.

(i) No Frustration. The Company shall not enter into, announce or recommend to its shareholders any agreement, plan, arrangement or transaction
in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right of the Company to perform
its obligations under the Transaction Documents to which it is a party, including, without limitation, the obligation of the Company to
deliver the Shares to the Investor in respect of a VWAP Purchase not later than the VWAP Purchase Share Delivery Date. For the avoidance
of doubt, nothing in this Section 6.6(i) shall in any way limit the Company’s right to terminate this Agreement in accordance with
Section 8.2 (subject in all cases to Section 8.3).

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(ii) No Variable Rate Transactions. The Company shall not effect or enter into an agreement to effect any issuance by the Company of Common
Shares or Common Shares Equivalents (or a combination of units thereof) involving a Variable Rate Transaction. For the avoidance of doubt,
the Company shall not be prohibited from entering into a Variable Rate Transaction other than another equity line of credit, unless a
VWAP Purchase Notice has been delivered and the delivery of such Shares and the payment therefor have not been completed at such time.

Section 6.7. Fundamental Transaction. If a VWAP Purchase Notice has been delivered to the Investor and the transactions contemplated therein have not yet
been fully settled in accordance with the terms and conditions of this Agreement, the Company shall not effect any Fundamental Transaction
until the expiration of five (5) Trading Days following the date of full settlement thereof and the issuance to the Investor of all of
the Shares issuable pursuant to the VWAP Purchase to which such VWAP Purchase Notice relates.

Section 6.8. Selling Restrictions.