Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 808

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 808
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 (or, if earlier, immediately prior to the time of any redemption, in whole or in part, of this Note or the occurrence of a Bankruptcy Event of Default)(as applicable “ BC Deadline ”), a BC Default Payment (as defined below) shall accrue hereunder as of the BC Deadline as additional Interest that is payable in cash hereunder on the first to occur of (i) the Maturity Date, (ii) the occurrence of a Bankruptcy Event of Default or (iii) upon any redemption in accordance with Section 12 (collectively, the “ BC Trigger Date ”), and (y) if the Business Combination Closing Date has occurred prior to the BC Deadline, the BC Success Payment (as defined below) shall accrue hereunder as of the Business Combination Closing Date as additional Interest that is payable in cash hereunder on the BC Trigger Date. For the avoidance of doubt, after the earlier to occur of the BC Deadline and/or the Business Combination Closing Date, as applicable, and prior to the payment of such Special Interest Payment (as defined below) in cash to the Holder, any such unpaid Special Interest Payment shall be included in the Conversion Amount hereunder as outstanding additional Interest hereunder solely for any Alternate Conversions or redemptions of this Note; provided, that the Holder shall forfeit such pro rata portion of any BC Success Payment corresponding to any Conversion Amount converted with respect to any Alternate Conversion on or after the Business Combination Closing Date and prior to the BC Trigger Date. The “ BC Default Payment ” shall equal (i) the product of (A) 0.75 and (B) the initial Conversion Amount of this Note as of the date hereof, minus (ii) (A) the aggregate amount of all Cash Interest paid on or before the BC Trigger Date, plus (B) the value of any Interest Shares (as set forth in the applicable Interest Election Notice) issued on or before the BC Trigger Date. The “ BC Success Payment ” shall equal (i) the product of (A) 0.5 and (B) the Conversion Amount of this Note as of the Maturity Date minus (ii) (A) the aggregate amount of all Cash Interest paid on or before the BC Trigger Date, plus (B) the value of any Interest Shares (as set forth in the applicable Interest Election Notice) issued on or before the BC Trigger Date. Each of the BC Success Payment and BC Default Payment are referred to therein as a “ Special Interest Payment ”. 3. CON