Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 900

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 900
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issory Note outstanding on the date of delivery of such Investor Notice, and shall not exceed during any calendar
month period, the greater of (i) an amount equal to 15% of the product of (A) the average of the daily traded amount on each trading
day during such period and (B) the VWAP for such trading day, and (ii) $750,000. The foregoing limitation on the amount of any such Investor
Advances shall not apply at any time (x) upon the occurrence and during the continuance of an Event of Default and (y) where the purchase
price is greater than or equal to the Fixed Price. As a result of an Investor Advance, the amounts payable under the Promissory Note
will be offset by such amount subject to each Investor Advance.

An
“Amortization Event” will occur under the terms of the Promissory Note if (i) the daily VWAP is less than the Floor Price
for five trading days during a period of seven consecutive trading days, or (ii) the Company has issued in excess of 99% of the shares
of Common Stock available under the Exchange Cap. Within seven trading days of an Amortization Event, the Company will be obligated to
make monthly cash payments in an amount equal to the sum of (i) $1.0 million of principal of the Promissory Note (or the outstanding
principal if less than such amount) (the “Amortization Principal Amount”), plus (ii) a payment premium of 7% in respect of
such Amortization Principal Amount, plus (iii) accrued and unpaid interest thereunder. The obligation of the Company to make monthly
prepayments shall cease (with respect to any payment that has not yet come due) if any time after an Amortization Event (a) the Company
reduces the Floor Price to an amount no more than 50% of the closing price of the Common Stock on the trading day immediately prior to
such reset notice (and no greater than the initial Floor Price), or (b) the daily VWAP is greater than the Floor Price for a period of
ten consecutive trading days, unless a subsequent Amortization Event occurs.

12

The
Company will control the timing and amount of any sales of shares of Common Stock to Yorkville, except with respect to Investor Advances.
Actual sales of shares of Common Stock to Yorkville as an Advance under the SEPA will depend on a variety of factors to