Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 772

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 772
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5.00%) per
annum. In the event any payment is not paid on or within five (5) Business Days of the scheduled payment date, an amount equal to
two percent (2.00%) of the past due amount shall be payable on demand, in addition to interest accruing. In addition, upon the occurrence
and during the continuation of an Event of Default hereunder, the Initial Loan Advance and all Subsequent Draws, including principal,
interest, compounded interest, and professional fees thereupon, shall upon the election of the lender, bear interest at the Interest
Rate, plus five (5) percentage points. In the event any interest is not paid when due hereunder, delinquent interest shall be added to
principal and shall bear interest on interest, compounded.

As
security for the prompt and complete payment when due (whether on the payment dates or otherwise) of all the Secured Obligations, Borrower
granted to the lender a security interest in all of Borrower’s right, title, and interest in and to all Inventory or Equipment and machinery,
in each case, purchased (or refinanced) with the proceeds of the Initial Loan Advance and any Subsequent Draw, and, to the extent not
otherwise included, all Proceeds of each of the foregoing and all products, additions, increases and accessions to, substitutions and
replacements for, and rents, profits and products of each of the foregoing.

28

As
of the date of this filing, $7,225,000 has been committed by the lender.

Series
D Financing

On
March 15, 2024, the Borrower entered into the Series D Loan and Security Agreement (the “Series D Agreement”), with the lenders
party thereto from to time for an amount of up to $5,000,000.

In
connection with the Series D Agreement, on March 15, 2024, Forever 8 also entered into a Subordination Agreement (the “Subordination
Agreement”) with each of the lenders, the several individuals, financial institutions or entities from time to time party thereto
(collectively, the “Senior Lenders”) and the collateral agent for the Senior Lenders. Forever 8 additionally entered into
an Intercreditor Agreement (the “Intercreditor Agreement”) with the lenders party thereto and the collateral agent for such
lenders. As of the date of this filing, a total of $250,000 has been committed by the