Company: COOT
Filing Date: 2025-05-09
Form Type: S-1/A
Source: 0001641172-25-009369
Chunk: 165

Company: Australian Oilseeds Holdings Ltd
Filing Date: 2025-05-09
Form: S-1/A
Chunk 165
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, the Purchaser shall, within five (5) Business Days following the date the Underlying Shares resulting from the applicable conversion are delivered to the Purchaser in accordance with the terms of the First Closing Debenture, release and pay to the Company a portion of the First Closing Reserve Amount in the amount of USD$200,000 (each, a “First Closing Reserve Advance”, and collectively, the “First Closing Reserve Advances”):

(A) an initial First Closing Reserve Advance shall be released
upon the conversion of USD$622,222 of the outstanding principal amount of the First Closing Debenture (such that following such conversion,
the outstanding principal amount of the First Closing Debenture is USD$1,600,000);

(B) a further First Closing Reserve Advance shall be released
upon the conversion of USD$400,000 of the outstanding principal amount of the First Closing Debenture (such that following such conversion,
the outstanding principal amount of the First Closing Debenture is USD$1,200,000);

(C) a further First Closing Reserve Advance shall be released
upon the conversion of USD$400,000 of the outstanding principal amount of the First Closing Debenture (such that following such conversion,
the outstanding principal amount of the First Closing Debenture is USD$800,000);

(D) a further First Closing Reserve Advance shall be released
upon the conversion of USD$400,000 of the outstanding principal amount of the First Closing Debenture (such that following such conversion,
the outstanding principal amount of the First Closing Debenture is USD$400,000); and

(E) a further First Closing Reserve Advance shall be released
upon the conversion of USD$400,000 of the outstanding principal amount of the First Closing Debenture (such that following such conversion,
the outstanding principal amount of the First Closing Debenture is USD$0).

The obligation of the Purchaser to make First Closing Reserve Advances to the Company (a) shall expire at the maturity date of the First Closing Debenture regardless of whether the Purchaser has made First Closing Reserve Advances in the aggregate amount of the First Closing Reserve Amount to the Company as of such date; provided further, for the avoidance of doubt and notwithstanding anything to the contrary set forth herein, the original principal amount of the First Closing Debenture shall be the First Closing Principal Amount ( i.e., USD$ 2,222,222), however, if the aggregate amount of First Closing Reserve Advances made by the Purchaser to the Company on