Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 848

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 848
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 Subsidiaries shall file on or before the due date therefor all personal property tax returns (except where the failure to file would not, individually or in the aggregate, have a material effect on the Company or any of its Subsidiaries). Notwithstanding the foregoing, the Company and its Subsidiaries may contest, in good faith and by appropriate proceedings, taxes for which they maintain adequate reserves therefor in accordance with GAAP. Annex I-22 (p) Minimum Liquidity Test; Announcement of Operating Results . (i) Minimum Liquidity Test . At any time any Notes remains outstanding, (x) the Company’s Available Liquidity as of the last calendar day in each Fiscal Quarter (each, a “ Covenant Measuring Date ”) shall equal or exceed $10,000,000 (provided, that if the Company’s Available Liquidity is less than $10,000,000 at such time of determination, the Company shall have 12 consecutive calendar days during which the Company may cure such Available Liquidity, whether by increasing its Available Bitcoin Value and/or its Available Cash during such period) and (y) the Available Cash as of such Covenant Measurement Date shall equal or exceed $3,000,000 (collectively, the “ Minimum Liquidity Test ”). (ii) Operating Results Announcement . Commencing on the initial Covenant Measuring Date, the Company shall publicly disclose and disseminate (such date, the “ Announcement Date ”), if the Minimum Liquidity Test has not been satisfied for such Fiscal Quarter or Fiscal Year, as applicable, a statement to that effect no later than the tenth (10 th ) day after the end of such Fiscal Quarter or Fiscal Year, as applicable, and such announcement shall include a statement to the effect that the Company is (or is not, as applicable) in breach of the Minimum Liquidity for such Fiscal Quarter or Fiscal Year, as applicable. On the Announcement Date, the Company shall also provide to the Holder a certification, executed on behalf of the Company by the Chief Financial Officer of the Company, certifying that the Company satisfied the Minimum Liquidity for such Fiscal Quarter or Fiscal Year, as applicable, if that is the case. If the Company has failed to meet the Minimum Liquidity for a Fiscal Quarter or Fiscal Year, as applicable, (each a “ Financial Covenant Failure ”), on or prior to the Announcement Date, the Company shall provide to the Holders a written certification, executed on behalf of the Company by the Chief Financial Officer of the Company, certifying that