Company: GAUZ
Filing Date: 2025-07-03
Form Type: F-3
Source: 0001213900-25-061387
Chunk: 23

Company: Gauzy Ltd.
Filing Date: 2025-07-03
Form: F-3
Chunk 23
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 discount securities for the particular provisions
relating to acceleration of a portion of the principal amount of such discount securities upon the occurrence of an Event of Default.

The indenture provides that the trustee may refuse
to perform any duty or exercise any of its rights or powers under the indenture unless the trustee receives indemnity satisfactory to
it against any cost, liability or expense which might be incurred by it in performing such duty or exercising such right or power. (Section
7.1(e)) Subject to certain rights of the trustee, the holders of a majority in principal amount of the outstanding debt securities of
any series will have the right to direct the time, method and place of conducting any proceeding for any remedy available to the trustee
or exercising any trust or power conferred on the trustee with respect to the debt securities of that series. (Section 6.12)

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No
holder of any debt security of any series will have any right to institute any proceeding, judicial or otherwise, with respect to the
indenture or for the appointment of a receiver or trustee, or for any remedy under the indenture, unless:

| ● | that holder has previously given to the trustee written notice                       
 of a continuing Event of Default with respect to debt securities of that series; and |

| ● | the holders of not less than 25% in principal amount of the                                                                                  
 outstanding debt securities of that series have made written request, and offered indemnity or security satisfactory to the trustee,         
 to the trustee to institute the proceeding as trustee, and the trustee has not received from the holders of not less than a majority         
 in principal amount of the outstanding debt securities of that series a direction inconsistent with that request and has failed to institute 
 the proceeding within 60 days. (Section 6.7)                                                                                                 |

Notwithstanding any other provision in the indenture,
the holder of any debt security will have an absolute and unconditional right to receive payment of the principal of, premium and any
interest on that debt security on or after the due dates expressed in that debt security and to institute suit for the enforcement of
payment. (Section 6.8)

The indenture requires us, within 120 days after
the end of our fiscal year, to furnish to the trustee a statement as to compliance with the indenture. (Section 4.3) If a Default or Event
of Default occurs and is continuing with respect to the securities of any series and if it is known to a responsible