Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 150

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 150
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 CEA; |

| ● | the                                  
 Trust becomes insolvent or bankrupt; |

| ● | all                             
 of the Trust’s assets are sold; |

| ● | the                                                                                                                                
 determination of the Sponsor that the aggregate net assets of the Trust in relation to the operating expenses of the Trust make it 
 unreasonable or imprudent to continue the activities of the Trust;                                                                 |

| ● | the                                                                                                                              
 Sponsor receives notice from the IRS or from counsel for the Trust or the Sponsor that the Trust fails to qualify for treatment, 
 or will not be treated, as a grantor trust under the Code; or                                                                    |

| 81 |

| ● | if                                                                                        
 the Trustee notifies the Sponsor of the Trustee’s election to resign and the Sponsor does |

The death, legal disability, bankruptcy, insolvency, dissolution or withdrawal of any Shareholder (as long as such Shareholder is not the sole Shareholder of the Trust) shall not result in the termination of the Trust, and such Shareholder, his estate, custodian or personal representative shall have no right to withdraw or value such Shareholder’s Shares. Each Shareholder (and any assignee thereof) expressly agrees that in the event of his death, he waives on behalf of himself and his estate, and he directs the legal representative of his estate and any person interested therein to waive the furnishing of any inventory, accounting or appraisal of the assets of the Trust and any right to an audit or examination of the books of the Trust, except for such rights as are set forth in Article VIII of the Trust Agreement relating to the books of account and reports of the Trust.

Upon dissolution of the Trust and surrender of Shares by the Shareholders, Shareholders will receive a distribution in U.S. dollars or SOL or both, at the sole discretion of the Sponsor, after the Sponsor has sold the Trust’s SOL and has paid or made provision for the Trust’s claims and obligations.

If the Trust is forced to liquidate, the Trust will be liquidated under the Sponsor’s direction. The Sponsor, on behalf of the Trust, will engage directly with Digital Asset Markets to liquidate the Trust’s SOL as promptly as possible while obtaining the best fair value possible. The proceeds therefrom will be applied and distributed in the following order of priority: (a) to the expenses of liquidation and termination and to creditors, including shareholders who are creditors, to the extent otherwise permitted by law, in satisfaction of liabilities of the Trust other than liabilities for distributions to shareholders and (b)