Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 168

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 7
Chunk 168
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 “2025
Notes”) up to an aggregate principal amount of $23,000,000 on the terms set forth therein and (ii) the Company agreed to, from time to
time, issue or reserve for issuance, the Company’s Ordinary Shares up to 5,200,000 on the terms set forth therein. The 2025 Notes will
not be issued until the satisfaction of the closing conditions, which, among others, include the execution of the supplemental indenture
to the indenture governing the Convertible Notes and the related security documents.

Term Loan Credit Facilities

For the years ended December 31, 2024, 2023 and
2022, Marti Delaware entered into certain term loan credit facilities with its subsidiary, Marti İleri Teknoloji A.Ş. (“ Marti
İleri”), including:

  A term loan credit facility agreement, dated                                                                                            
  January 17, 2020. The facility provides for a single advance by Marti İleri in an amount equal to $2.0 million at 4% per annum payable  
  on June 30, 2024, the facility termination date. The facility is intended to be used for working capital. Marti İleri drew down the     
  facility in full in January 2020, and converted the entire principal and accrued interest into equity by September 30, 2022.            
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  A term loan credit facility agreement, dated                                                                                                  
  July 10, 2020. The facility provides for a single advance by Marti İleri in an amount equal to $2.0 million at 4% per annum payable           
  on July 30, 2024, the facility termination date. The facility is intended to be used for the working capital and investment in new vehicles.  
  Marti İleri drew down the facility in full in July 2020, converted $0.5 million of the principal into equity by September 30, 2022.           
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  A term loan credit facility agreement, dated                                                                                            
  July 13, 2021. The facility provides for a single advance in an amount equal to $5.0 million at 4% per annum payable on July 31, 2024,  
  the facility termination