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: up to $300,000	Dated as of May 13, 2021

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

          


  

  

  

  Emerging Markets Horizon Corp., a Cayman Islands exempted company and blank check company (the “Maker”), promises to pay to the order of EM Horizon Investments, a Cayman Islands
    limited liability company, or its registered assigns or successors in interest (the “Payee”), or order, the principal sum of up to three hundred thousand U.S. dollars ($300,000) (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 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 Note shall be payable by the Maker on the earlier of: (i) December 31, 2021 or (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 the Maker, be obligated personally
    for any obligations or liabilities of the 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 Three Hundred Thousand Dollars ($300,000) for costs reasonably related to the IPO. The principal of this Note may be drawn down from time to time
    prior to the earlier of: (i) December 31, 2021 or (ii) the date on which Maker consummates the IPO, 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 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 Three Hundred Thousand Dollars ($300,000). 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 (“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 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

          


  

  All notices, statements or other documents which are required or contemplated by this Agreement 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, 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 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.

   

  
    	
            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]

   

  
    
      


  

  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.

   

  EMERGING MARKETS HORIZON CORP.,

     a Cayman Islands exempted company

   

   

  

  
    	By

          	/s/Riccardo Orcel	 
	Name:	Riccardo Orcel	 
	Title:	Director	 


  

   

  
    
      


  

  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