Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 5

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 5
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 Senior Convertible Notes issued pursuant to the Securities Purchase Agreement, dated as of May [__], 2025 (the “Subscription Date”), by and among the Company and the investors (the “Buyers”) referred to therein, as amended from time
to time (collectively, the “Notes”, and such other Senior Convertible Notes, the “Other Notes”).
Certain capitalized terms used herein are defined in Section 31.

1. . On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all outstanding Principal,
accrued and unpaid Interest and accrued and unpaid Late Charges (as defined in Section 24(c)) on such Principal and Interest. Other than
as specifically permitted by this Note, the Company may not prepay any portion of the outstanding Principal, accrued and unpaid Interest
or accrued and unpaid Late Charges on Principal and Interest, if any.

2. .

(a) Interest
on this Note shall commence accruing on the Issuance Date and shall be computed on the basis of a 360-day year and twelve 30-day months
and shall be payable in arrears for on the first calendar day of each calendar month (each, an “Interest Date”) with
the first Interest Date being June 1, 2025. Interest shall be payable on each Interest Date, to the record holder of this Note on the
applicable Interest Date, in Ordinary Shares (“Interest Shares”) so long as there has been no Equity Conditions Failure;
provided however, that the Company may, at its option following notice to the Holder, pay Interest on any Interest Date in cash (“Cash Interest”) or in a combination of Cash Interest and Interest Shares. The Company shall deliver a written notice (each, an “Interest Election Notice”) to each holder of the Notes on or prior to the on or prior to the eleventh (11th) Trading Day immediately
prior to the applicable Interest Date (each, an “Interest Notice Due Date” and the date such notice is delivered to
all of the holders of Notes, the “Interest Notice Date”) which notice (i) either (A) confirms that Interest to be paid
on such Interest Date shall be paid entirely in Interest Shares or (B) elects to pay Interest as Cash Interest or a combination of Cash
Interest and Interest Shares and specifies the amount of Interest that shall be paid as Cash Interest and the amount of Interest, if any,
that shall be paid in Interest Shares and (ii) certifies that there has been