Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 105

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 105
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 bankruptcy-related conditions; and |

| ● | the                                                                                       
 receipt by the Investor of a customary legal opinion, as required under the ELOC Purchase 
 Agreement.                                                                                |

Termination of the Purchase Agreement

Unless earlier terminated as provided in the ELOC Purchase Agreement, the ELOC Purchase Agreement will terminate automatically on the earliest to occur of:

| ● | the                                                                                      
 first day of the month next following the 36-month anniversary of the Commencement Date; |

| ● | the date on which the Investor shall have purchased the Commitment Amount; |

| ● | the                                                                                                                                        
 ninetieth day after the date on which, pursuant to or within the meaning of any bankruptcy law, we commence a voluntary case or any person 
 commences a proceeding against us, in each case that is not discharged or dismissed prior to such ninetieth day; and                       |

| ● | the                                                                                                                                     
 date on which, pursuant to or within the meaning of any bankruptcy law, a custodian is appointed for us or for all or substantially all 
 of our property, or we make a general assignment for the benefit of our creditors.                                                      |

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We have the right to terminate the ELOC Purchase Agreement at any time after Commencement Date, at no cost or penalty, upon one business day’s prior written notice to the Investor, subject to us satisfying all existing obligations related to any shares of common stock issued to the Investor prior to the date of termination. We or the Investor may also terminate the ELOC Purchase Agreement at the close of business on the one year anniversary of the signing of the ELOC Purchase Agreement or thereafter, in the event the Commencement Date shall not have occurred prior to such one year anniversary due to our failure to satisfy the conditions precedent to commencement. We and the Investor may also terminate the ELOC Purchase Agreement at any time by mutual written consent. No termination of the ELOC Purchase Agreement by us or by the Investor will affect any of our respective rights and obligations under (i) the ELOC Purchase Agreement with respect to any pending Purchase, and both we and the Investor have agreed to complete our respective obligations with respect to any such pending Purchase under the ELOC Purchase Agreement, and (ii) the Registration Rights Agreement, which shall survive any termination of the ELOC Purchase Agreement. Further, no termination of the ELOC Purchase Agreement will be deemed to release us or the Investor from any liability for intentional misrepresentation or willful breach of the ELOC Purchase Agreement, the Registration Rights