Exhibit 10.5


 





THIS
PROMISSORY NOTE (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
MAKER (AS DEFINED BELOW) THAT SUCH REGISTRATION IS NOT REQUIRED.


 


PROMISSORY
NOTE


 


Principal
Amount: up to $400,000 


(as
set forth on the Schedule of Borrowings attached hereto) 


Dated
as of February 25, 2021


 


Aperture
Acquisition Corp, a Cayman Islands exempted company and blank check company (“Maker”), promises to pay to the
order of Aperture SE LLC, a Delaware limited liability company, or its registered assigns or successors in interest (“Payee”),
or order, the principal sum of up to Four Hundred Thousand Dollars U.S. dollars ($400,000) (as set forth on the Schedule of Borrowings
attached hereto) 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 Maker to such account
as 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 Note shall be payable by Maker on the earlier of (i) December 31, 2021 and (ii) the date on which
Maker consummates an initial public offering of its securities (the “IPO”).
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 shareholder of Maker, be obligated personally for any obligations or liabilities of Maker hereunder.


 


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


 


3.             Drawdown
Requests. Maker and Payee agree that Maker may request up to Four Hundred Thousand U.S. Dollars
($400,000) for costs reasonably related to Maker’s initial public offering of its securities. The principal of this Note
may be drawn down from time to time prior to the earlier of (i) December 31, 2021 and (ii) the date on which Maker consummates
an initial public offering of its securities, upon written request from Maker to Payee (each, a “Drawdown Request”).
Each Drawdown Request must state the amount to be drawn down, and must not be an amount less than One Thousand U.S. Dollars ($1,000)
unless agreed upon by Maker and Payee. Payee shall fund each Drawdown Request no later than one (1) business day after receipt
of a Drawdown Request; provided, however, that the maximum amount of drawdowns collectively under this Note is Four
Hundred Thousand U.S. Dollars ($400,000). No fees, payments or other amounts shall be due to Payee in connection with, or as a
result of, any Drawdown Request by 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 (an “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.


 


(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 sixty (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 immediately due 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.



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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 this 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.
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.


 


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.           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, 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 Maker (including the deferred underwriters
discounts and commissions) and certain of the proceeds of the sale of the warrants issued in a private placement to occur in connection
with 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 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.



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


 





	 	APERTURE
    ACQUISITION CORP
	 	a
    Cayman Islands exempted company
	 	 	 
	 	By:	/s/
    Jeffrey Gelfand
	 	 	Name:
    Jeffrey Gelfand
	 	 	Title:
    Chief Financial Officer




  


[Signature
Page to Promissory Note—Aperture Acquisition Corp] 








     


     


    

SCHEDULE
OF BORROWINGS


 


The
following increases or decreases in this Promissory Note have been made:


 


	Date
of Increase or Decrease 
	Amount
of decrease in Principal Amount of this Promissory Note 
	Amount
of increase in Principal Amount of this Promissory Note 
	Principal
Amount of this Promissory Note following such decrease or increase