Exhibit 10.6


  


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.


 


PROMISSORY NOTE


 


Principal Amount: $300,000Dated as of January 6,
2021


 


FAST Acquisition Corp.
II, a Delaware corporation (the “Maker”), promises to pay to the order of FAST Sponsor II LLC or its registered
assigns or successors in interest (the “Payee”), or order, the principal sum of Three Hundred Thousand Dollars
($300,000) or such lesser amount as shall have been advanced to the Payee to the Maker and shall remain unpaid under this Note
on the Maturity Date (as defined below) 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 entire unpaid principal balance of this Note shall be due and payable in full on the earlier of: (i) January 6,
2022 or (ii) the date on which the Maker consummates an initial public offering of its securities (such earlier date of (i)
and (ii), the “Maturity Date”), unless accelerated upon the occurrence of an Event of Default (as defined below).
The principal balance may be prepaid at any time by the Maker, at its election and without penalty. 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.
Drawdown Requests. The Maker and the Payee agree that the Maker may request, from time to time, up to Three Hundred
Thousand Dollars ($300,000) in drawdowns under this Note to be used for costs and expenses related to the Maker’s formation
and the proposed initial public offering of its securities (the “IPO”), including its formation. The principal
of this Note may be drawn down from time to time prior to the Maturity Date upon written request from the Maker to the Payee (each,
a “Drawdown Request”). Each Drawdown Request must state the amount to be drawn down, and must not be an amount
less than Ten Thousand Dollars ($10,000), unless agreed upon the Maker and the Payee. The Payee shall fund each Drawdown Request
no later than three (3) business days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns
outstanding under this Note at any time may not exceed Three Hundred Thousand Dollars ($300,000). No fees, payments or other amounts
shall be due to the Payee in connection with, or as a result of, any Drawdown Request by the Maker.


 


3.
Interest. No interest shall accrue on the unpaid principal balance of this Note.


 


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 the Maker to pay the principal amount due pursuant to this Note within
five (5) business days of the Maturity Date.


 


(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.


 






     


     


    

 


(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 sixty (60) consecutive days.


 


6.
Remedies.


 


(a)
Upon the occurrence of an Event of Default specified in Section 5(a) hereof, the Payee may, by written notice to the
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 the Payee.


 


7.
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; and the 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 the Payee.


 


8.
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.


 


9.
Notices. All notices, statements or other documents which are required or contemplated by this Note shall be in writing
and delivered (i) 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 DELAWARE, WITHOUT REGARD TO
CONFLICT OF LAW PROVISIONS 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.


 






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12.
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 distribution of or from the trust account to be established
in which the proceeds of the IPO conducted by the Maker (including the deferred underwriters discounts and commissions) and the
proceeds of the sale of the warrants to be issued in a private placement to occur prior to the consummation of the IPO are to be
deposited, as described in greater detail in the registration statement and prospectus to be filed with the U.S. 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.


 


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.


 


[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 day and
year first above written.


 








	 	FAST ACQUISITION CORP. II
	 	 	 
	 	By:	/s/ Sandy Beall
	 	 	Name:Sandy Beall
	 	 	Title:Chief Executive Officer



 





[Signature Page to Promissory Note]