Company: TOP
Filing Date: 2025-04-30
Form Type: POS AM
Source: 0001213900-25-037641
Chunk: 67

Company: TOP Financial Group Ltd
Filing Date: 2025-04-30
Form: POS AM
Chunk 67
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 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 payment 
 default that resulted from such acceleration);                                                                                          |

| ● | make any debt security payable in money other than 
 that stated in the debt securities;                |

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| ● | make any change in the provisions of the applicable                                                                                 
 indenture relating to waivers of past defaults or the rights of holders of the debt securities to receive payments of principal of, 
 or interest or premium, if any, on, the debt securities;                                                                            |

| ● | waive a redemption payment with respect to any debt                              
 security (except as otherwise provided in the applicable prospectus supplement); |

| ● | except in connection with an offer by us to purchase                                                                                  
 all debt securities, (1) waive certain events of default relating to the payment of dividends or (2) amend certain covenants relating 
 to the payment of dividends and the purchase or redemption of certain equity interests;                                               |

| ● | make any change to the subordination or ranking provisions                                     
 of the indenture or the related definitions that adversely affect the rights of any holder; or |

| ● | make any change in the preceding amendment and waiver 
 provisions.                                           |

The indentures permit the holders of at least
a majority in aggregate principal amount of the outstanding debt securities of any series issued under the indenture which is affected
by the modification or amendment to waive our compliance with certain covenants contained in the indentures.

Payment and Paying Agents

Unless otherwise indicated in the applicable
prospectus supplement, payment of interest on a debt security on any interest payment date will be made to the person in whose name a
debt security is registered at the close of business on the record date for the interest.

Unless otherwise indicated in the applicable
prospectus supplement, principal, interest and premium on the debt securities of a particular series will be payable