Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 652

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 652
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 by such amount subject to each Investor Advance.

An
“Amortization Event” will occur under the terms of the Promissory Note if (i) the daily VWAP is less than the Floor Price
for five trading days during a period of seven consecutive trading days, or (ii) the Company has issued in excess of 99% of the shares
of Common Stock available under the Exchange Cap. Within seven trading days of an Amortization Event, the Company will be obligated to
make monthly cash payments in an amount equal to the sum of (i) $1.0 million of principal of the Promissory Note (or the outstanding
principal if less than such amount) (the “Amortization Principal Amount”), plus (ii) a payment premium of 7% in respect of
such Amortization Principal Amount, plus (iii) accrued and unpaid interest thereunder. The obligation of the Company to make monthly
prepayments shall cease (with respect to any payment that has not yet come due) if any time after an Amortization Event (a) the Company
reduces the Floor Price to an amount no more than 50% of the closing price of the Common Stock on the trading day immediately prior to
such reset notice (and no greater than the initial Floor Price), or (b) the daily VWAP is greater than the Floor Price for a period of
ten consecutive trading days, unless a subsequent Amortization Event occurs.

12

The
Company will control the timing and amount of any sales of shares of Common Stock to Yorkville, except with respect to Investor Advances.
Actual sales of shares of Common Stock to Yorkville as an Advance under the SEPA will depend on a variety of factors to be determined
by the Company from time to time, which may include, among other things, market conditions, the trading price of the Company’s
Common Stock and determinations by the Company as to the appropriate sources of funding for our business and operations.

The
SEPA contains customary representations, warranties, conditions and indemnification obligations of the parties. The representations,
warranties and covenants contained in such agreements were made only for purposes of such agreements and as of specific dates, were solely
for the benefit of the parties to such agreements and may be subject to limitations agreed upon by the contracting parties.

King
Street CD

On
June 21, 2024, the Company received a notice from King Street Partners LLC (“King Street”), the holder of a