Company: INDP
Filing Date: 2025-09-02
Form Type: 424B5
Source: 0001493152-25-012530
Chunk: 52

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-09-02
Form: 424B5
Chunk 52
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 | in the case of defeasance,                                                                                                             
 the opinion of counsel must refer to, and be based upon, a ruling of the Internal Revenue Service, or IRS, or a change in applicable   
 U.S. federal income tax laws occurring after the date of the applicable indenture.                                                     |

Unless otherwise provided in the applicable prospectus supplement, if, after we have deposited funds and/or Government Obligations to effect defeasance or covenant defeasance with respect to debt securities of any series:

| ● | the holder of a debt security                                                                                                             
 of the series elects to receive payment in a currency other than that in which the deposit has been made in respect of the debt security; 
 or                                                                                                                                        |
| ● | a conversion event, as                                                                                                                    
 defined below, occurs in respect of the currency in which the deposit has been made,                                                      |

then the indebtedness represented by the debt security will be fully discharged and satisfied through the payment of the principal of, and any premium, make-whole amount and interest on, the debt security as they become due, and additional amounts, if any, out of the proceeds yielded by converting the amount deposited in respect of the debt security into the currency in which the debt security becomes payable as a result of the holder’s election or the conversion event based on the applicable market exchange rate.

| 24 |

Unless otherwise provided in the applicable prospectus supplement, a “conversion event” means the cessation of use of:

| ● | a currency issued by the                                                                                                                
 government of one or more countries other than the United States, both by the government of the country that issued that currency       
 and for the settlement of transactions by a central bank or other public institutions of or within the international banking community; |
| ● | the European Community,                                                                                                                 
 both within the European Monetary System and, for the settlement of transactions, by public institutions of or within the European      
 Community; or                                                                                                                           |
| ● | any currency for the purposes                                                                                                           
 for which it was established.                                                                                                           |

Unless otherwise provided in the applicable prospectus supplement, we will make all payments of principal of, and any premium, make-whole amount, interest and additional amounts on, any debt security that is payable in a foreign currency that ceases to be used by its government of issuance in United States dollars.

In the event that we effect covenant defeasance with respect to any debt securities and the debt securities are declared due and payable because of the occurrence of an event of default other than