Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 141

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 141
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 Agreement is declared effective by the SEC (and each prospectus contained therein is available for
use on such date) or (y) the first date on which all of the Registrable Securities are eligible to be resold by the Buyers pursuant to
Rule 144 (or, if a Current Public Information Failure (Registration Rights Agreement) has occurred and is continuing, such later date
after which the Company has cured such Current Public Information Failure).

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(p) .
For so long as any Notes remain outstanding, the Company shall not, in any manner, enter into or affect any Dilutive Issuance (as defined
in the Notes) if the effect of such Dilutive Issuance is to cause the Company to be required to issue upon conversion of any Notes any
Ordinary Shares in excess of that number of Ordinary Shares which the Company may issue upon conversion of the Notes without breaching
the Company’s obligations under the rules or regulations of the Principal Market.

(q) . The Company shall conduct its business, and shall cause its Subsidiaries to conduct
their respective businesses, in such a manner as will ensure that the Company will not be deemed to constitute a passive foreign investment
company within the meaning of Section 1297 of the Code.

(r) . So long as any Notes are outstanding, the Company shall not, directly
or indirectly, redeem, or declare or pay any cash dividend or distribution on, any securities of the Company without the prior express
written consent of the Buyers.

(s) .
So long as any Buyer beneficially owns any Notes, the Company shall not be party to any Fundamental Transaction (as defined in the Notes)
unless the Company is in compliance with the applicable provisions governing Fundamental Transactions set forth in the Notes.

(t) .
Until the Notes and all notes issued pursuant to the terms thereof are no longer outstanding, the Company shall not effect any share
combination, reverse share split or other similar transaction (or make any public announcement or disclosure with respect to any of the
foregoing) without the prior written consent of the Required Holders (as defined below).

(u) . The form of Conversion Notice (as defined in the Notes) included in the Notes set forth the totality of the procedures
required of the Buyers in order to convert the Notes. Except as provided in Section 5(d), no additional legal opinion, other information
or instructions shall be required of the Buyers to convert their Notes. The Company shall honor conversions of the Notes and shall deliver