Company: TGE
Filing Date: 2025-01-27
Form Type: 425
Source: 0001213900-25-006756
Chunk: 37

Company: Generation Essentials Group
Filing Date: 2025-01-27
Form: 425
Chunk 37
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 than 51% interest in the management contract with respect
to such hotel; and (iii) the Company or any of its Subsidiaries has acquired not less than 51% of the ownership interest in each
of at least five (5) Eligible Coffee Shops and not less than 51% interest in each management contract with respect to each such Eligible
Coffee Shop. As used herein, “Eligible Coffee Shop” means a commercial shop retailing coffee products under the “L’Officiel”
brand, which has not less than 20 seats and is fully operating during the Earnout Period and has all permits, licenses, consents and approvals
as may be required for it to operate (which, for the avoidance of doubt, shall exclude any “pop-up” shops or other shops or
retail facilities of a temporary nature).

For the avoidance of doubt, nothing in this Section 4.05
is intended to restrict the Company Board’s discretion to issue equity incentives where it believes such issuance is in the best
interests of the Company after the Closing.

Section 4.06. Payments to Sponsor and Public Non-Redeeming Shareholders.

(a) After
the Merger Effective Time, at the Closing, the Sponsor shall be entitled to receive from the Company a transaction bonus in an amount
equal to $5,560,000 (subject to reduction as a result of the Company’s right to set off as set forth in Section 12.06) (the
“Transaction Bonus Payment”). The Parties agree that, to the extent any funds are available in the Trust Account, the
Transaction Bonus Payment shall be paid, in part or in whole, from such funds in the Trust Account and the Merger Surviving Company shall
request that Trustee withdraw from the Trust Account and distribute to the Sponsor at the Closing such funds in satisfaction of the Transaction
Bonus Payment, provided that, to the extent the funds available in the Trust Account for distribution to the Sponsor is less than
the Transaction Bonus Payment, such shortfall shall be satisfied and paid by the Company.

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(b) After
the Closing, and after the payment of the Transaction Bonus Payment in accordance with Section 4.06(a), the Company shall make a payment,
in cash, to each Eligible BSII Shareholder who holds BSII Class A Ordinary Shares that has never elected to exercise its BSII Shareholder
Redemption Right in an amount equal to $1.25