Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 32

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 32
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daily amount of the Unused Commitment Amount during the immediately preceding calendar quarter at the rate of five percent (5.00%) per
annum. In the event any payment is not paid on or within five (5) Business Days of the scheduled payment date, an amount equal to
two percent (2.00%) of the past due amount shall be payable on demand, in addition to interest accruing. In addition, upon the occurrence
and during the continuation of an Event of Default hereunder, the Initial Loan Advance and all Subsequent Draws, including principal,
interest, compounded interest, and professional fees thereupon, shall upon the election of the lender, bear interest at the Interest
Rate, plus five (5) percentage points. In the event any interest is not paid when due hereunder, delinquent interest shall be added to
principal and shall bear interest on interest, compounded.

As
security for the prompt and complete payment when due (whether on the payment dates or otherwise) of all the Secured Obligations,
Borrower granted to the lender a security interest in all of Borrower’s right, title, and interest in and to all Inventory or
Equipment and machinery, in each case, purchased (or refinanced) with the proceeds of the Initial Loan Advance and any Subsequent
Draw, and, to the extent not otherwise included, all Proceeds of each of the foregoing and all products, additions, increases and
accessions to, substitutions and replacements for, and rents, profits and products of each of the foregoing.

From
October 12, 2023, through February 26, 2024, the Borrower entered into Lender Joinder Agreements (the “Joinder Agreement”)
with several individuals and entities as subsequent lenders. Under the terms of the Joinder Agreement, the subsequent
lenders agreed to become a lender and be bound by the terms of the Series B Agreement as a lender pursuant to the Series
B Agreement.

As
of the date of this filing, $175,000 has been committed by the lender and subsequent lenders.

Series
C Financing

On
October 19, 2023, the Borrower entered into a Series C Loan and Security Agreement (the “Series C Agreement”) with an
individual as lender. Under the terms of the Series C Agreement, the lender will make available to Borrower, in an amount not to
exceed its Commitment, a Loan Advance amount to be determined by the lender (as such amount