Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 96

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 96
---
 our initial business combination are insufficient to repay our debt obligations; |

| ● | acceleration of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant; |

| ● | our immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand; |

<div align='center'>55</div>

| ● | our inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such financing while the debt security is outstanding; |

| ● | our inability to pay dividends on our ordinary shares; |

| ● | using a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for dividends on our ordinary shares if declared, expenses, capital expenditures, acquisitions and other general corporate purposes; |

| ● | limitations on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate; |

| ● | increased vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation; and |

| ● | limitations on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution of our strategy and other purposes and other disadvantages compared to our competitors who have less debt. |

Our directors may decide not to enforce indemnification obligations against our Sponsor, resulting in a reduction in the amount of funds in the trust account available for distribution to our public shareholders.

In the event that the proceeds
in the trust account are reduced below $10.05 per share (whether or not the underwriter’s over-allotment option is exercised in
full) and our Sponsor asserts that it is unable to satisfy obligations or that it has no indemnification obligations related to a particular
claim, our independent directors would determine on our behalf whether to take legal action against our Sponsor to enforce its indemnification
obligations. While we currently expect that our independent directors would take legal action on our behalf against our Sponsor to enforce
its indemnification obligations to us, it is possible that our independent directors in exercising their business judgment may choose
not to do so. If our independent directors choose not to enforce these indemnification obligations on our behalf, the amount of funds
in the trust account available for distribution to our public shareholders may be reduced below $10.05 per share.

We may not have sufficient funds