Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 20

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 20
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 for any reason (including, without limitation, the issuance of a stop
order) or such Registration Statement (or the prospectus contained therein) is unavailable to any holder of Registrable Securities for
sale of all of such holder’s Registrable Securities in accordance with the terms of the Registration Rights Agreement, and such
lapse or unavailability continues for a period of five (5) consecutive days or for more than an aggregate of ten (10) days in any 365-day
period (excluding days during an Allowable Grace Period (as defined in the Registration Rights Agreement));

(iii) the
suspension (or threatened suspension) from trading or the failure (or threatened failure) of the Ordinary Shares to be trading or listed
(as applicable) on an Eligible Market for a period of five (5) consecutive Trading Days;

(iv) the
Company’s (A) failure to cure a Conversion Failure by delivery of the required number of Ordinary Shares within five (5) Trading
Days after the applicable Conversion Date or exercise date (as the case may be) or (B) notice, written or oral, to any holder of the Notes,
including, without limitation, by way of public announcement or through any of its agents, at any time, of its intention not to comply,
as required, with a request for conversion of any Notes into Ordinary Shares that is requested in accordance with the provisions of the
Notes, other than pursuant to Section 3(d);

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(v) except
to the extent the Company is in compliance with Section 10(b) below, at any time following the tenth (10) consecutive day
that the Holder’s Authorized Share Allocation (as defined in Section 10(a) below) is less than the number of Ordinary Shares that
the Holder would be entitled to receive upon a conversion of the full Conversion Amount of this Note (without regard to any limitations
on conversion set forth in Section 3(d) or otherwise),;

(vi) the
Company’s or any Subsidiary’s failure to pay to the Holder any amount of Principal, Interest, Late Charges or other amounts
when and as due under this Note (including, without limitation, the Company’s or any Subsidiary’s failure to pay any redemption
payments or amounts hereunder) or any other Transaction Document (as defined in the Securities Purchase Agreement) or any other agreement,
document, certificate or other instrument delivered in connection with the transactions contemplated hereby and thereby, except,