Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 24

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 24
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) any
breach or failure in any respect by the Company or any Subsidiary to comply with any provision of Section 13 of this Note;

(xvii) any
Material Adverse Effect (as defined in the Securities Purchase Agreement) occurs; or

(xviii) any
Event of Default (as defined in the Other Notes) occurs with respect to any Other Notes.

<div align='center'>13</div>

(b) . Upon the occurrence of an Event of Default with respect to this Note or any Other Note,
the Company shall within one (1) Business Day of becoming aware of such occurrence of an Event of Default (but, in any event, no later
than five (5) Business Days after such occurrence of an Event of Default) deliver written notice thereof via electronic mail and overnight
courier (with next day delivery specified) (an “Event of Default Notice”) to the Holder. At any time after the earlier
of the Holder’s receipt of an Event of Default Notice and the Holder becoming aware of an Event of Default, the Holder may require
the Company to redeem (regardless of whether such Event of Default has been cured) all or any portion of this Note by delivering written
notice thereof (the “Event of Default Redemption Notice”) to the Company, which Event of Default Redemption Notice
shall indicate the portion of this Note the Holder is electing to redeem. Each portion of this Note subject to redemption by the Company
pursuant to this Section 4(b) shall be redeemed by the Company at a price equal to the greater of (i) the product of (A) the Outstanding
Amount to be redeemed multiplied by (B) the Redemption Premium and (ii) the product of (X) the Conversion Rate with respect to the Conversion
Amount in effect at such time as the Holder delivers an Event of Default Redemption Notice multiplied by (Y) the greatest Closing Sale
Price of the Ordinary Shares on any Trading Day during the period commencing on the date immediately preceding such Event of Default and
ending on the date the Company makes the entire payment required to be made under this Section 4(b) (the “Event of Default Redemption Price”). Redemptions required by this Section 4(b) shall be made in accordance with the provisions of Section 11. To the extent
redemptions required by this Section 4(b) are deemed or determined by a court of competent jurisdiction to be prepayments of this Note
by the Company, such redemptions