Company: TGE
Filing Date: 2025-01-27
Form Type: 425
Source: 0001213900-25-006756
Chunk: 25

Company: Generation Essentials Group
Filing Date: 2025-01-27
Form: 425
Chunk 25
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 security
during the period beginning at 9:30:01 a.m., New York time, and ending at 4:00:00 p.m., New York time (or such later time after 4:00:00
p.m. as the securities are traded on such securities exchange or securities market), as reported by Bloomberg, or, if no daily dollar
volume-weighted average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price
and the lowest closing ask price of any of the market makers for such security as reported by OTC Markets Group Inc. If the VWAP cannot
be calculated for such security on such date(s) on any of the foregoing bases, the VWAP of such security on such date(s) shall
be the fair market value per share on such date(s) as reasonably determined by the Company and BSII.

<div align='center'>20</div>

“Warrant Agent” has the meaning
given to such term in the recitals hereto.

“Warrant Agreement” means the
Warrant Agreement, dated as of August 27, 2024, by and between BSII and the Warrant Agent.

Section 1.02. Construction.

(a) Unless
the context of this Agreement otherwise requires, (i) words of any gender include each other gender and neuter form, (ii) words
using the singular or plural form also include the plural or singular form, respectively, (iii) the terms “hereof,” “herein,”
“hereby,” “hereto,” “herewith,” “hereunder” and derivative or similar words refer to this
entire Agreement (including the Annexes and Appendices hereto) and not to any particular provision of this Agreement, (iv) the terms
“Article,” “Section” and “Annex” refer to the specified Article, Section or Annex of or to this
Agreement unless otherwise specified, (v) whenever any other word derived from a defined term shall be used in this Agreement, such
derived word shall have the meaning correlative to such defined term (e.g., “controlled” or “controlling” shall
have the meaning correlative to “control”), (vi) the words “include,” “includes” and “including”
shall be deemed to be followed by the phrase “without limitation” whether or not they are in fact followed by such phrase
or phrases or words of like import, (vii) the