Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 1125

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 1125
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ally (and not jointly) make available to Borrower, in an amount not to exceed
its respective Commitment, a Loan Advance amount to be determined by the lender (as such amount may be increased, the “Aggregate
Commitment”) in the aggregate, of which (x) a certain amount will be deposited into an account of the Borrower in accordance with
its written instructions (the “Initial Loan Advance”) and (y) the remaining balance of the Aggregate Commitment after deducting
the Initial Loan Advance shall be deposited into the Escrow Account (the “Escrow Funds”). The Borrower may, at any time,
request an advance for all or a portion of the Escrow Funds (each such advance, a “Subsequent Draw”).

The
Borrower issued a Promissory Note to each of the lenders in the amount of the lender’s respective Initial
Loan Advance. The principal balance of the Initial Loan Advance and each Subsequent Draw shall bear interest thereon from the Closing
Date and applicable Advance Date, respectively, at 15.00% per annum. The Borrower shall pay each lender, according to its Applicable
Percentage, an unused commitment fee on the actual daily amount of the Unused Commitment Amount during the immediately preceding calendar
quarter at the rate of five percent (5.00%) per annum (the “Unused Commitment Fee”). In the event any payment is not
paid on or within five (5) Business Days of the scheduled payment date, an amount equal to two percent (2.00%) of the past due amount
shall be payable on demand, in addition to interest accruing. In addition, upon the occurrence and during the continuation of an Event
of Default hereunder, the Initial Loan Advance and all Subsequent Draws, including principal, interest, compounded interest, and professional
fees thereupon, shall upon the election of the lenders, bear interest at the Interest Rate, plus five (5) percentage points. In the event
any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded.

As
security for the prompt and complete payment when due (whether on the payment dates or otherwise) of all the Secured Obligations, Borrower
granted to the lenders a security interest in all of Borrower’s right, title, and interest in and to all Inventory or Equipment and
machinery, in each case, purchased (or refinanced) with the proceeds