Company: GAUZ
Filing Date: 2025-07-03
Form Type: F-3
Source: 0001213900-25-061387
Chunk: 21

Company: Gauzy Ltd.
Filing Date: 2025-07-03
Form: F-3
Chunk 21
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we have a change in control or in the event of a highly leveraged transaction (whether or not such transaction results in a change in
control) which could adversely affect holders of debt securities.

Consolidation, Merger and Sale of Assets

We may not consolidate with or merge with or into,
or convey, transfer or lease all or substantially all of our properties and assets to any person, or a successor person, unless:

| ● | we are the surviving entity or the successor person (if other                                                                                    
 than Gauzy) is a corporation, partnership, trust or other entity organized and validly existing under the laws of any U.S. domestic jurisdiction 
 or the State of Israel and expressly assumes our obligations on the debt securities and under the indenture; and                                 |

| ● | immediately after giving effect to the transaction, no Default 
 or Event of Default, shall have occurred and be continuing.    |

Notwithstanding the above, any of our subsidiaries may consolidate
with, merge into or transfer all or part of its properties to us. (Section 5.1)

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Events of Default

“Event of Default” means with respect to any series of
debt securities, any of the following:

| ● | default in the payment of any interest upon any debt security                                                                        
 of that series when it becomes due and payable, and continuance of such default for a period of 30 days (unless the entire amount of 
 the payment is deposited by us with the trustee or with a paying agent prior to the expiration of the 30-day period);                |

| ● | default in the payment of principal of any security of that 
 series at its maturity;                                     |

| ● | default in the performance or breach of any other covenant                                                                               
 or warranty by us in the indenture (other than a covenant or warranty that has been included in the indenture solely for the benefit     
 of a series of debt securities other than that series), which default continues uncured for a period of 60 days after we receive written 
 notice from the trustee or Gauzy and the trustee receive written notice from the holders of not less than 25% in principal amount of     
 the outstanding debt securities of that series as provided in the indenture;                                                             |

| ● | certain voluntary or involuntary events of bankruptcy, insolvency 
 or reorganization of Gauzy; and                                   |

| ● | any other Event of Default provided with respect to debt securities                     
 of that series that is described