Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 62

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 62
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) above, each
an “Alternate Conversion Measuring Period”). All such determinations to be appropriately adjusted for any share dividend,
share split, share combination, reclassification or similar transaction during such Alternate Conversion Measuring Period.

(h) “Applicable Closing Date” shall mean such Closing Date (as defined in the Securities Purchase Agreement), pursuant to which the Company
initially issued this Note pursuant to the terms of the Securities Purchase Agreement.

(i) “Approved Share Plan” means any employee benefit plan which has been approved by the board of directors of the Company prior to or subsequent
to the Subscription Date pursuant to which Ordinary Shares and standard options to purchase Ordinary Shares may be issued to any employee,
officer or director for services provided to the Company in their capacity as such.

(j) “Attribution Parties” means, collectively, the following Persons and entities: (i) any investment vehicle, including, any funds, feeder funds
or managed accounts, currently, or from time to time after the Issuance Date, directly or indirectly managed or advised by the Holder’s
investment manager or any of its Affiliates or principals, (ii) any direct or indirect Affiliates of the Holder or any of the foregoing,
(iii) any Person acting or who could be deemed to be acting as a Group together with the Holder or any of the foregoing and (iv) any other
Persons whose beneficial ownership of the Company’s Ordinary Shares would or could be aggregated with the Holder’s and the
other Attribution Parties for purposes of Section 13(d) of the 1934 Act. For clarity, the purpose of the foregoing is to subject collectively
the Holder and all other Attribution Parties to the Maximum Percentage.

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(k) “Available Cash” means, with respect to any date of determination, an amount equal to the aggregate amount of the Cash of the Company and
its Subsidiaries (excluding for this purpose cash held in restricted accounts (other than (i) accounts that are restricted solely as a
result of the existence of control agreements in favor of the Collateral Agent, or (ii) cash otherwise unavailable for unrestricted use
by the Company or any of its Subsidiaries for any reason) as of such date of determination held in bank accounts of financial banking
institutions in the United Sates of America.

(l) “Black Scholes Consideration Value” means the value of the applicable Option, Convertible Security or Adjustment Right (as the case
may be)