Company: NTCL
Filing Date: 2025-12-29
Form Type: F-3
Source: 0001104659-25-124826
Chunk: 87

Company: NetClass Technology Inc
Filing Date: 2025-12-29
Form: F-3
Chunk 87
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 of that series. |

Unless an accompanying prospectus supplement states
otherwise, if an event of default with respect to any debt securities of any series outstanding under either of the indentures shall occur
and be continuing, the trustee under such indenture or the holders of at least 25% (or at least 10%, in respect of a remedy (other than
acceleration) for certain events of default relating to the payment of dividends) in aggregate principal amount of the debt securities
of that series outstanding may declare, by notice as provided in the applicable indenture, the principal amount (or such lesser amount
as may be provided for in the debt securities of that series) of all the debt securities of that series outstanding to be due and payable
immediately; provided that, in the case of an event of default involving certain events in bankruptcy, insolvency or reorganization, acceleration
is automatic; and, provided further, that after such acceleration, but before a judgment or decree based on acceleration, the holders
of a majority in aggregate principal amount of the outstanding debt securities of that series may, under certain circumstances, rescind
and annul such acceleration if all events of default, other than the nonpayment of accelerated principal, have been cured or waived. Upon
the acceleration of the maturity of original issue discount securities, an amount less than the principal amount thereof will become due
and payable. Reference is made to the prospectus supplement relating to any original issue discount securities for the particular provisions
relating to acceleration of maturity thereof.

Any past default under either indenture with respect
to debt securities of any series, and any event of default arising therefrom, may be waived by the holders of a majority in principal
amount of all debt securities of such series outstanding under such indenture, except in the case of (1) default in the payment of
the principal of (or premium, if any) or interest on any debt securities of such series or (2) certain events of default relating
to the payment of dividends.

The trustee is required within 90 days after the
occurrence of a default (which is known to the trustee and is continuing), with respect to the debt securities of any series (without
regard to any grace period or notice requirements), to give to the holders of the debt securities of such series notice of such default.

The trustee, subject to its duties during default
to act with the required standard of care, may require indemnification by the holders of the debt securities of any series