Company: EMCRF
Filing Date: 2025-07-28
Form Type: DEF 14A
Source: 0001641172-25-021158
Chunk: 70

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-28
Form: DEF 14A
Chunk 70
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 lien

| 6.1 | The                                                                                                                                 
 Company has a first and paramount lien on all Shares (whether Fully Paid or not) registered in the name of a Member (whether solely 
 or jointly with others). The lien is for all moneys payable to the Company by the Member or the Member’s estate:                    |

| (a) | either                                                                                    
 alone or jointly with any other person, whether or not that other person is a Member; and |

| (b) | whether                                    
 or not those moneys are presently payable. |

| 6.2 | At                                                                                                              
 any time the directors may declare any Share to be wholly or partly exempt from the provisions of this Article. |

| Annex C-18 |

Company may sell Shares to satisfy lien

| 6.3 | The                                                                                              
 Company may sell any Shares over which it has a lien if all of the following conditions are met: |

| (a) | the                                                           
 sum in respect of which the lien exists is presently payable; |

| (b) | the                                                                                                                                
 Company gives notice to the Member holding the Share (or to the person entitled to it in consequence of the death or bankruptcy of 
 that Member) demanding payment and stating that if the notice is not complied with the Shares may be sold; and                     |

| (c) | that                                                                                              
 sum is not paid within 14 Clear Days after that notice is deemed to be given under these Articles |

| 6.4 | The                                                           
 Shares may be sold in such manner as the directors determine. |

| 6.5 | To                                                                                                                                 
 the maximum extent permitted by Applicable Law, the directors shall incur no personal liability to the Member concerned in respect 
 of the sale.                                                                                                                       |

Authority to execute instrument of transfer

| 6.6 | To                                                                                                                                         
 give effect to a sale, the directors may authorise any person to execute an instrument of transfer of the Shares sold to, or in accordance 
 with the directions of, the purchaser. The title of the transferee of the Shares shall not be affected by any irregularity or invalidity   
 in the proceedings in respect of the sale.                                                                                                 |

Consequences of sale of Shares to satisfy lien

| 6.7 | On                                       
 sale pursuant to the preceding Articles: |

| (a) | the                                                                                                           
 name of the Member concerned shall be removed from the Register of Members as the holder of those Shares; and |

| (b) | that                                                                                   
 person shall