Company: RAYA
Filing Date: 2025-07-28
Form Type: 424B5
Source: 0001213900-25-067907
Chunk: 197

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-07-28
Form: 424B5
Chunk 197
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ness has been paid in full. If
any payment or distribution under the subordinated debt securities is received by the trustee of any subordinated debt securities in contravention
of any of the terms of the subordinated indenture and before all the senior indebtedness has been paid in full, such payment or distribution
will be received in trust for the benefit of, and paid over or delivered and transferred to, the holders of the senior indebtedness at
the time outstanding in accordance with the priorities then existing among such holders for application to the payment of all senior indebtedness
remaining unpaid to the extent necessary to pay all such senior indebtedness in full.

The subordinated indenture does not limit the
issuance of additional senior indebtedness.

Events of Default, Notice and Waiver

Unless an accompanying prospectus supplement states
otherwise, the following shall constitute “events of default” under the indentures with respect to each series of debt securities:

| ● | we                                                                                          
 default for 30 consecutive days in the payment when due of interest on the debt securities; |

| ● | we                                                                                                                                           
 default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any, on the debt securities; |

| ● | our                                                                                                                                      
 failure to observe or perform any other of our covenants or agreements with respect to such debt securities for 60 days after we receive 
 notice of such failure;                                                                                                                  |

| ● | certain                                                       
 events of bankruptcy, insolvency or reorganization Erayak; or |

| ● | any                                                                        
 other event of default provided with respect to securities 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,