Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 13

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 13
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 Combination Agreement and as of the Closing, subject to Material Adverse Effect;
(iv) each of EEW, Pubco, Merger Sub and each Seller and Seller Representative having performed in all material respects the respective
obligations and complied in all material respects with their respective covenants and agreements under the EEW Business Combination Agreement
required to be performed or complied with on or prior the date of the Closing; (v) absence of any Material Adverse Effect with respect
to EEW’s direct or indirect subsidiaries, taken as a whole, or Pubco since the date of the EEW Business Combination Agreement,
which is continuing and uncured, and (vi) each EEW Non-Competition Agreement and EEW Lock-Up Agreement (as described below) being in
full force and effect in accordance with the terms thereof as of the Closing.

Termination

In
addition to termination by mutual agreement among the parties of the EEW Business Combination Agreement, the EEW Business Combination
Agreement may be terminated at any time prior to the Closing by either Compass Digital or EEW if the Closing does not occur by January
19, 2025 (the “Outside Date”), provided that if we extend our deadline to complete our initial Business Combination of January
19, 2025 each month using our rights set forth in the Amended and Restated Charter, either we or EEW may extend the Outside Date by an
additional month for up to a total of three additional months.

7

The
EEW Business Combination Agreement may also be terminated under certain other customary and limited circumstances at any time prior to
the Closing, including, among other reasons: (i) by either our Company or EEW if a governmental authority of competent jurisdiction shall
have issued an order or taken any other action permanently restraining, enjoining or otherwise prohibiting the EEW Business Combination,
and such order or other action has become final and non-appealable; (ii) by EEW for our uncured material breach of the EEW Business Combination
Agreement, such that the related Closing condition would not be met; (iii) by our Company for the uncured material breach of the EEW
Business Combination Agreement by EEW, Pubco, Merger Sub, any Seller or the Seller Representative such that the related Closing condition
would not be met; (iv) by our Company if there has been an event after the signing of the EEW Business Combination Agreement that has
had a Material Adverse Effect with respect to