Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 203

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 203
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 upon a ruling of the Internal Revenue Service
or a change in applicable federal income tax law occurring after the date of the relevant indenture. In addition, in the case of either
legal defeasance or covenant defeasance, we shall have delivered to the trustee (1) if applicable, an officer’s certificate to the
effect that the relevant debt securities exchange(s) have informed us that neither such debt securities nor any other debt securities
of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit and (2) an officer’s
certificate and an opinion of counsel, each stating that all conditions precedent with respect to such legal defeasance or covenant defeasance
have been complied with.

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We may exercise our defeasance option with respect
to such debt securities notwithstanding our prior exercise of our covenant defeasance option.

Modification and Waiver

Under the indentures, unless an accompanying prospectus
supplement states otherwise, we and the applicable trustee may supplement the indentures for certain purposes which would not materially
adversely affect the interests or rights of the holders of debt securities of a series without the consent of those holders. We and the
applicable trustee may also modify the indentures or any supplemental indenture in a manner that affects the interests or rights of the
holders of debt securities with the consent of the holders of at least a majority in aggregate principal amount of the outstanding debt
securities of each affected series issued under the indenture. However, the indentures require the consent of each holder of debt securities
that would be affected by any modification which would:

| ● | reduce                                                                                                    
 the principal amount of debt securities whose holders must consent to an amendment, supplement or waiver; |

| ● | reduce                                                                                                                                 
 the principal of or change the fixed maturity of any debt security or, except as provided in any prospectus supplement, alter or waive 
 any of the provisions with respect to the redemption of the debt securities;                                                           |

| ● | reduce                                                                                                    
 the rate of or change the time for payment of interest, including default interest, on any debt security; |

| ● | waive                                                                                                                                     
 a default or event of default in the payment of principal of or interest or premium, if any, on, the debt securities (except a rescission 
 of acceleration of the debt securities by the holders of at least a majority in aggregate principal amount of the then outstanding debt   
 securities and a waiver of the