Exhibit 10.1

   

  

  THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
      ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND
      SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

    

  PROMISSORY NOTE

   

  	Principal Amount: $300,000.00	Dated as of March 5, 2021


   

  Sparta Healthcare Acquisition Corp.., a Delaware company (the “Maker”),
      promises to pay to the order of Sparta Management LLC (the “Payee”) the principal sum of Three Hundred Thousand Dollars ($300,000.00) in lawful money of the United States of America, on the terms and conditions described below. All payments on
      this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note.

   

  		1.	Principal. The principal balance of this Promissory Note (this “Note”) shall be payable promptly after the date
            on which the Maker consummates an initial public offering of its securities or the date on which the Maker determines not to conduct an initial public offering of its securities. The principal balance may be prepaid at any time.


   

  		2.	Interest. No interest shall accrue on the unpaid principal balance of this Note.


   

  		3.	Non-Convertible; Non-Recourse. This Note shall not be convertible into any securities of
            Maker, and Payee shall have no recourse with respect to Payee’s ability to convert this Note into any securities of Maker.


   

  		4.	Application of Payments. All payments shall be applied first to payment in full of any costs
            incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note.


   

  		5.	Events of Default. The following shall constitute an event of default (“Event of Default”):


   

  		(a)	Failure to Make Required Payments. Failure by Maker to pay the principal of this Note within
            five (5) business days following the date when due.


   

  		(b)	Voluntary Liquidation, Etc. The commencement by Maker of a proceeding relating to its
            bankruptcy, insolvency, reorganization, rehabilitation or other similar action, or the consent by it to the appointment of, or taking possession by, a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official)
            for Maker or for any substantial part of its property, or the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker
            in furtherance of any of the foregoing.


   

  
     

    
      
 

  

   

   

  		(c)	Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having
            jurisdiction in the premises in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or similar law, for the appointing of a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official)
            for Maker or for any substantial part of its property, or ordering the winding-up or liquidation of the affairs of Maker, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days.


   

  		6.	Remedies.


   

  		(a)	Upon the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written
            notice to Maker, declare this Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder, shall become immediately due and payable without presentment, demand, protest or
            other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.


   

  		(b)	Upon the occurrence of an Event of Default specified in Sections 5(b) and 5(c), the unpaid principal
            balance of this Note, and all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part of Payee.


   

  		7.	Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive
            presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might
            accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay
            of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold
            upon any such writ in whole or in part in any order desired by Payee.


   

  		8.	Unconditional Liability. Maker hereby waives all notices in connection with the delivery,
            acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any manner by any indulgence,
            extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the payment or other
            provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.


   

  
     

    
      
 

  

   

   

  		9.	Notices. Any notice called for hereunder shall be deemed properly given if (i) sent by
            certified mail, return receipt requested, (ii) personally delivered, (iii) dispatched by any form of private or governmental express mail or delivery service providing receipted delivery or (iv) sent by facsimile or (v) to the following
            addresses or to such other address as either party may designate by notice in accordance with this Section:


   

  If to Maker:

   

  

      Sparta Healthcare Acquisition Corp.

  

  2537 Research Boulevard, Suite 201

      Fort Collins, Colorado 80526

      Attn: Michael K. Handley

   

  If to Payee:

   

  Sparta Management LLC

      2537 Research Boulevard, Suite 201

      Fort Collins, Colorado 80526

      Attn: Michael K. Handley

   

  Notice shall be deemed given on the earlier of (i) actual receipt by the receiving party, (ii) the date
      shown on a facsimile transmission confirmation, (iii) the date reflected on a signed delivery receipt, or (iv) two (2) Business Days following tender of delivery or dispatch by express mail or delivery service.

   

  		10.	Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW
            YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.


   

  		11.	Jurisdiction. The courts of New York have exclusive jurisdiction to settle any dispute
            arising out of or in connection with this agreement (including a dispute relating to any non-contractual obligations arising out of or in connection with this agreement) and the parties submit to the exclusive jurisdiction of the courts of New
            York.


   

  		12.	Severability. Any provision contained in this Note which is prohibited or unenforceable in
            any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall
            not invalidate or render unenforceable such provision in any other jurisdiction.


   

  		13.	Trust Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any
            and all right, title, interest or claim of any kind (“Claim”) in or to any amounts contained in the trust account in which the proceeds of the initial public offering (the “IPO”) conducted by the Maker and the proceeds of the sale
            of securities in a private placement to occur prior to the effectiveness of the IPO, as described in greater detail in the registration statement and prospectus to be filed with the Securities and Exchange Commission in connection with the IPO,
            will be placed, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim from the trust account or any distribution therefrom for any reason whatsoever.


   

   

  
     

    
      
 

  

   

   

  

  		14.	Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with,
            and only with, the written consent of the Maker and the Payee.


   

  		15.	Assignment. No assignment or transfer of this Note or any rights or obligations hereunder
            may be made by any party hereto (by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void.


   

  		16.	Further Assurance. The Maker shall, at its own cost and expense, execute and do (or procure
            to be executed and done by any other necessary party) all such deeds, documents, acts and things as the Payee may from time to time require as may be necessary to give full effect to this Promissory Note.


   

  IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly
      executed on the day and year first above written.

   

  	 	SPARTA HEALTHCARE ACQUISITION CORP.
	 	 
		By:	/s/ Michael K. Handley 
	 	 	Name: Michael K. Handley
	 	 	Title: Chairman, Chief Executive Officer and President


   

  

  [Signature Page to Promissory Note]