Company: GAME
Filing Date: 2025-07-16
Form Type: 424B5
Source: 0001641172-25-019931
Chunk: 59

Company: GameSquare Holdings, Inc.
Filing Date: 2025-07-16
Form: 424B5
Chunk 59
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 that, through the payment of interest and        
 principal in accordance with their terms, will provide money in an amount sufficient in the        
 opinion of a nationally recognized firm of independent public accountants or investment bank       
 to pay and discharge each installment of principal of, premium and interest on and any mandatory   
 sinking fund payments in respect of the debt securities of that series on the stated maturity      
 of those payments in accordance with the terms of the indenture and those debt securities;         |
| ● | such                                                                                               
 deposit will not result in a breach or violation of, or constitute a default under the indenture   
 or any other agreement to which we are a party;                                                    |
| ● | no                                                                                                 
 Default or Event of Default with respect to the applicable series of debt securities shall         
 have occurred or is continuing on the date of such deposit; and                                    |
| ● | delivering                                                                                         
 to the trustee an opinion of counsel to the effect that we have received from, or there has        
 been published by, the United States Internal Revenue Service a ruling or, since the date          
 of execution of the indenture, there has been a change in the applicable United States federal     
 income tax law, in either case to the effect that, and based thereon such opinion shall confirm    
 that, the holders of the debt securities of that series will not recognize income, gain or         
 loss for United States federal income tax purposes as a result of the deposit and related          
 covenant defeasance and will be subject to United States federal income tax on the same amounts    
 and in the same manner and at the same times as would have been the case if the deposit and        
 related covenant defeasance had not occurred.                                                      |

No Personal Liability of Directors, Officers, Employees or Stockholders

None of our past, present or future directors, officers, employees or stockholders, as such, will have any liability for any of our obligations under the debt securities or the indenture or for any claim based on, or in respect or by reason of, such obligations or their creation. By accepting a debt security, each holder waives and releases all such liability. This waiver and release is part of the consideration for the issue of the debt securities. However, this waiver and release may not be effective to waive liabilities under U.S. federal securities laws, and it is the view of the SEC that such a waiver is against public policy.

Governing Law

The indenture and the debt securities, including any claim or controversy arising out of or relating to the indenture