EX-10.1





 Exhibit 10.1 

Promissory Note 
 THIS PROMISSORY NOTE
(“NOTE”) AND THE SECURITIES INTO WHICH THE NOTE MAY BE CONVERTED HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR UNDER THE SECURITIES LAWS OF ANY STATE. 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 AND APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM,
SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 
 PROMISSORY NOTE 

 

			
		  	Dated as of June 15, 2020
	Principal Amount: $2,489,824.17	  	New York, NY

 CF Finance Acquisition Corp., a Delaware corporation (the “Maker”), hereby promises to
pay to the order of CF Finance Holdings LLC (the “Payee”) or its registered assigns or successors in interest, the principal sum of $2,489,824.17 in lawful money of the United States of America, on the terms and conditions described
below. Except for the optional conversions described below in Section 15, 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. This Note is being made in connection with Maker seeking stockholder approval to extend its termination date of June 17, 2020 for an additional
three months to September 17, 2020 (the “Extension”). In connection with the Extension, holders of shares of Maker’s Class A common stock (the “Public Shares”) were given the right to redeem their
shares for a pro rata amount of the funds in Maker’s trust account (the “Trust Account”). 
 1.
Principal. The principal balance of this Note shall be payable by Maker on the date on which Maker consummates its initial business combination (the “Business Combination”). The principal
balance may be prepaid at any time. Under no circumstances shall any individual, including but not limited to any officer, director, employee or stockholder of the Maker, be obligated personally for any obligations or liabilities of the Maker
hereunder. 
 2. Interest. No interest shall accrue or be charged by Payee on the unpaid principal balance of
this Note. 
 3. Funding. On the date hereof (the “Funding Date”), Payee shall pay
$2,489,824.17 which funds shall be deposited into the Trust Account and distributed either to: (i) all of the holders of the Public Shares upon Maker’s liquidation or (ii) holders of Public Shares who elect to have their shares
redeemed in connection with the consummation of the Business Combination on or about the Maturity Date. 
 4.
Application of Payments. All payments (or conversions into warrants, as applicable) 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 and 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 occurrence of any of the following shall constitute an event of default
(“Event of Default”): 
 (a) Failure to Make Required Payments. Failure by Maker to pay the principal amount due
pursuant to this Note within five (5) business days of the date specified above or issue warrants pursuant to Section 15 hereof, if so elected by Payee. 

(b) Voluntary Bankruptcy, Etc. The commencement by 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 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 other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official)
of 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. 
 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 hereunder, 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) or 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, or 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. All notices, statements or other documents which are required or contemplated by this Note shall be
made: (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 or (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. 

10. Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK, WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THEREOF. 
 11. 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. 












 12. Trust Waiver. Notwithstanding anything herein to the
contrary, the Payee hereby waives any right, title, interest or claim of any kind (“Claim”) in or to any distribution of or from the Trust Account, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for
any Claim against the Trust Account for any reason whatsoever; provided, however, that if the Maker completes a Business Combination, the Maker shall repay the principal balance of this Note, which may be out of the proceeds released to the Maker
from the Trust Account. 
 13.  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. 
 14.  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; provided, however, that this Note shall be freely assignable by the Payee to any assignee. 
 15. 
Optional Conversion Into Warrants. 
 (a) At the Payee’s option, at any time prior to payment in full of the principal balance of
this Note, the Payee may elect to convert up to $750,000 of this Note into that number of warrants (the “Conversion Warrants”) equal to: (i) the portion of the principal amount of the Note being converted pursuant
to this Section 15, divided by (ii) $1.00, rounded down to the nearest whole number. Each Conversion Warrant shall have the same terms and conditions as the warrants included in the units issued by the Maker pursuant to a private placement to
Payee, as described in Maker’s Registration Statement on Form S-1 (333-228420), including the transfer restrictions applicable thereto. The Conversion Warrants, the shares of Common Stock underlying the
Conversion Warrants and any other equity security of Maker issued or issuable with respect to the foregoing by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, amalgamation, consolidation or
reorganization (the “Warrant Shares”), shall be entitled to the registration rights set forth in that certain registration rights agreement between the Maker and the parties thereto, dated as of December 12, 2018. 

(b) Upon any partial conversion of the principal amount of this Note, (i) such principal amount shall be so converted and such converted
portion of this Note shall become fully paid and satisfied, (ii) the Payee shall surrender and deliver this Note, duly endorsed, to Maker or such other address which Maker shall designate against delivery of the Conversion Warrants,
(iii) Maker shall promptly deliver a new duly executed Note to the Payee in the principal amount that remains outstanding after any such conversion and (iv) in exchange for any portion of the surrendered Note, Maker shall, within five
(5) business days following receipt by Maker of Payee’s election to convert this Note pursuant to this Section 15, deliver to Payee the Conversion Warrants, which shall bear such legends as are required, in the opinion of counsel to
Maker or by any other agreement between Maker and the Payee and applicable state and federal securities laws. 
 (c) The Payee shall pay any
and all issue and other taxes that may be payable with respect to any issue or delivery of the Conversion Warrants upon conversion of this Note pursuant hereto; provided, however, that the Payee shall not be obligated to pay any transfer taxes
resulting from any transfer requested by the Payee in connection with any such conversion. 
 (d) The Conversion Warrants shall not be issued
upon conversion of this Note unless such issuance and such conversion comply with all applicable provisions of law. 
 [Signature Page
Follows] 












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

			
	CF Finance Acquisition Corp.
		
	By:	 	 /s/ Howard W. Lutnick

		 	Name: Howard W. Lutnick
		 	Title: Chairman and Chief Executive Officer


 [Signature Page to CF Finance Acquisition Corp Promissory Note – June 2020]