Exhibit
10.1


 


THIS
PROMISSORY NOTE (“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.


 


UNSECURED
PROMISSORY NOTE


 


	Principal
    Amount: $300,000	Dated as
    of March 23, 2021


 


GreenVision
Acquisition Corp., a Delaware corporation (the “Maker”), promises to pay to the order of Helbiz, Inc., a Delaware
corporation, or its registered assignee or successor in interest (the “Payee”), the principal sum of Three Hundred
Thousand US dollars ($300,000) in lawful money of the United States of America, on the terms and conditions described below. This
Note is being issued by the Maker in consideration of a loan in the amount of Three Hundred Thousand US dollars ($300,000) made
by the Payee to the Maker on March 23, 2021, the proceeds of which will be utilized by the Maker for its working capital purposes.


 


1.
Principal. The principal balance of this Note shall be payable on the earlier of (i) the termination of the Merger Agreement
and Plan of Reorganization (the “Merger Agreement”) entered into among the Payee, the Maker, GreenVision Merger Sub
Inc. and Salvatore Palella, dated February 8, 2021, and (ii) simultaneous with the completion of Business Combination (as defined
in the Merger Agreement). Simultaneous with the Business Combination, Maker shall repay in full the principal amount of the Loan
(i) in the event of the Termination of the Merger Agreement for a reason other than completion of the Business Combination, in
cash to the Payee or (ii) at the closing of the Business Combination, by reducing the amount of Closing Net Debt (as defined in
the Merger Agreement) by the full principal amount of the Loan.


 


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


 


3.
Events of Default. The following shall constitute an event of default (“Event of Default”):


 


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


 


(b)
Voluntary Bankruptcy, Etc. The commencement by the Maker of a voluntary case under any applicable bankruptcy, insolvency,
reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver,
liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of the 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 the Maker generally to pay
its debts as such debts become due, or the taking of corporate action by the Maker in furtherance of any of the foregoing.


 






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


 


4.
Remedies.


 


(a)
Upon the occurrence of an Event of Default specified in Section 3(a) hereof, the unpaid principal amount of this Note 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 3(b) and 3(c), the unpaid principal balance of this Note shall
automatically and immediately become due and payable, in all cases without any action on the part of the Payee.


 


5.
Waivers. The 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 the Payee under the terms of this Note, and all benefits that might accrue to the 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. The 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 the Payee.


 


6.
Unconditional Liability. The 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 the Payee, and consents to any and all extensions of time, renewals, waivers, or modifications
that may be granted by the 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 the Maker or affecting the Maker’s liability
hereunder.


 


7.
Notices. All notices, statements or other documents which are required or contemplated by this Note shall be: (i) in
writing and delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile
or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to
such party or such other address or fax number as may be designated in writing by such party, and (iii) by electronic mail,
to the electronic mail address most recently provided to such party or such other electronic mail address as may be
designated in writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on
the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by
facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days
after mailing if sent by mail.


 






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8.
Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO
CONFLICT OF LAW PROVISIONS THEREOF.


 


9.
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.


 


10.
Trust Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest
or claim of any kind (the “Claim”) in or to any distribution of or from the trust account established in which
the proceeds of the initial public offering (the “IPO”) conducted by the Maker (including the deferred
underwriting discounts and commissions) are deposited, as described in greater detail in the registration statement and
prospectus filed with the Securities and Exchange Commission in connection with the IPO, and hereby agrees not to seek
recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any reason
whatsoever.


 


11.
Amendment. 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.


 


12.
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.


 


[signature
page follows]



 






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IN
WITNESS WHEREOF, the Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned
as of the date first above written.


 


	 	GREENVISION ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Zhigeng (David) Fu
	 	Name:	Zhigeng
(David) Fu
	 	Title:	Chief Executive Officer


 


 


 


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