Company: MSTR
Filing Date: 2025-02-24
Form Type: 8-K
Source: 0001193125-25-032800
Chunk: 3

Company: Strategy Inc
Filing Date: 2025-02-24
Form: 8-K
Item: Item 1.01
Chunk 3
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 a note in accordance with the Indenture, if such default is not cured within five days after its occurrence; (v) a default by the Company in its other obligations or agreements under the Indenture or the notes if such default is not cured or waived within 60 days after notice is given in accordance with the Indenture; (vi) certain defaults by the Company or any of its significant subsidiaries with respect to indebtedness for borrowed money of at least $200,000,000; and (vii) certain events of bankruptcy, insolvency and reorganization involving the Company significant subsidiaries.

If an Event of Default involving bankruptcy, insolvency or reorganization events with respect to the Company (and not solely with respect to a significant subsidiary of the Company) occurs, then the principal amount of, and all accrued and unpaid special interest and additional interest, if any, on, all of the notes then outstanding will immediately become due and payable without any further action or notice by any person. If any other Event of Default occurs and is continuing, then, the Trustee, by notice to the Company, or noteholders of at least 25% of the aggregate principal amount of notes then outstanding, by notice to the Company and the Trustee, may declare the principal amount of, and all accrued and unpaid special interest and additional interest, if any, on, all of the notes then outstanding to become due and payable immediately. However, notwithstanding the foregoing, the Company may elect, at its option, that the sole remedy for an Event of Default relating to certain failures by the Company to comply with certain reporting covenants in the Indenture consists exclusively of the right of the noteholders to receive special interest on the notes for up to 360 days at a specified rate per annum not exceeding 0.50% on the principal amount of the notes.

The foregoing description of the Indenture and the notes does not purport to be complete and is qualified in its entirety by reference to the full text of the Indenture and the form of the certificate representing the notes, copies of which are filed with this Current Report on Form 8-K asExhibit 4.1 and Exhibit 4.2 hereto respectively and are hereby incorporated herein by reference.

  Item 2.03.      Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.  

The information set forth in Item 1.01 of this Current Report on Form8-K