Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 148

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 148
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 such number of Ordinary Shares that would
have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to
the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares that the Company was required
to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Notes) of the
Ordinary Shares on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable
Conversion Shares and ending on the date of such delivery and payment under this clause (ii). Nothing shall limit such Buyer’s
right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific
performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing Ordinary
Shares (or to electronically deliver such Ordinary Shares) as required pursuant to the terms hereof. Notwithstanding anything herein
to the contrary, with respect to any given Notice Failure and/or Delivery Failure, this Section 5(e) shall not apply to the applicable
Buyer the extent the Company has already paid such amounts in full to such Buyer with respect to such Notice Failure and/or Delivery
Failure, as applicable, pursuant to the analogous sections of the Note held by such Buyer.

(f) . While any Notes remain outstanding, the Company shall maintain a transfer agent that participates in FAST.

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6. CONDITIONS
TO THE COMPANY’S OBLIGATION TO SELL.

(a) The obligation of the
Company hereunder to issue and sell the Initial Notes to each Buyer at the Initial Closing is subject to the satisfaction, at or before
the Initial Closing Date, of each of the following conditions, provided that these conditions are for the Company’s sole benefit
and may be waived by the Company at any time in its sole discretion by providing each Buyer with prior written notice thereof:

(i) Such
Buyer shall have executed each of the other Transaction Documents to which it is a party and delivered the same to the Company.

(ii) Such
Buyer and each other Buyer shall have delivered to the Company the Initial Purchase Price (less, in the case of any Buyer, the amounts
withheld pursuant to Section 4(g)) for the Initial Note being purchased by such Buyer at the Initial Closing by wire transfer of
immediately