Exhibit 10.3


       


       

    
    
      	 		 


    

    

    
   
 

    
    
      	 		 


    

    

    
   
 


PROMISSORY
NOTE Principal Loan Date Maturity Loan No Call / Coll Account Officer Initials $2,244,000.00 04-29-2020 04-29-2022 22047419 OP
*** EMG References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular
loan or item. Any item above containing "***" has been omitted due to text length limitations. Borrower: Good Times
Drive Thru Inc. 141 Union Boulevard 400 Lakewood, CO 80228 Lender: CADENCE BANK, N.A. SBA Middle Georgia Duluth Branch 1970 Satellite
Blvd Duluth, GA 30097 Principal Amount: $2,244,000.00 Date of Note: April 29, 2020 PROMISE TO PAY. Good Times Drive Thru Inc.
("Borrower") promises to pay to CADENCE BANK, N.A. ("Lender"), or order, in lawful money of the United States
of America, the principal amount of Two Million Two Hundred Twenty-four Thousand & 00/100 Dollars ($2,244,000.00), together
with interest on the unpaid principal balance from April 29, 2020, until paid in full. PAYMENT. Borrower will pay this loan in
accordance with the following payment schedule, which calculates interest on the unpaid principal balances as described in the
"INTEREST CALCULATION METHOD" paragraph using the interest rates described in this paragraph: 17 monthly consecutive
principal and interest payments of $93,987.76 each, beginning November 2, 2020, with interest calculated on the unpaid principal
balances using an interest rate of 1.000% per annum based on a year of 360 days; and one principal and interest payment of $678,251.58
on April 29, 2022, with interest calculated on the unpaid principal balances using an interest rate of 1.000% per annum based
on a year of 360 days. This estimated final payment is based on the assumption that all payments will be made exactly as scheduled;
the actual final payment will be for all principal and accrued interest not yet paid, together with any other unpaid amounts under
this Note. Unless otherwise agreed or required by applicable law, payments will be applied first to any accrued unpaid interest;
then to principal; and then to any late charges. Borrower will pay Lender at Lender's address shown above or at such other place
as Lender may designate in writing. INTEREST CALCULATION METHOD. Interest on this Note is computed on a 30/360 simple interest
basis; that is, with the exception of odd days before the first full payment cycle, monthly interest is calculated by applying
the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by a month
of 30 days. Interest for the odd days before the first full month is calculated on the basis of the actual days and a 360-day
year. All interest payable under this Note is computed using this method. PREPAYMENT. Borrower may pay without penalty all or
a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by Lender in writing, relieve Borrower
of Borrower's obligation to continue to make payments under the payment schedule. Rather, early payments will reduce the principal
balance due and may result in Borrower's making fewer payments. Borrower agrees not to send Lender payments marked "paid
in full", "without recourse", or similar language. If Borrower sends such a payment, Lender may accept it without
losing any of Lender's rights under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All
written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment
constitutes "payment in full" of the amount owed or that is tendered with other conditions or limitations or as full
satisfaction of a disputed amount must be mailed or delivered to: CADENCE BANK, N.A., 3500 Colonnade Parkway, Suite 600 Birmingham,
AL 35243. LATE CHARGE. If a payment is 15 days or more late, Borrower will be charged 5.000% of the unpaid portion of the regularly
scheduled payment, regardless of any partial payments Lender has received. INTEREST AFTER DEFAULT. Upon default, at Lender's option,
and if permitted by applicable law, Lender may add any unpaid accrued interest to principal and such sum will bear interest therefrom
until paid at the rate provided in this Note. Upon default, the total sum due under this Note will continue to accrue interest
at the interest rate under this Note, with the final interest rate described in this Note applying after maturity, or after maturity
would have occurred had there been no default. However, in no event will the interest rate exceed the maximum interest rate limitations
under applicable law. DEFAULT. Each of the following shall constitute an event of default ("Event of Default") under
this Note: Payment Default. Borrower fails to make any payment when due under this Note. Other Defaults. Borrower fails to comply
with or to perform any other term, obligation, covenant or condition contained in this Note or in any of the related documents
or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement between Lender and
Borrower. Default in Favor of Third Parties. Borrower or any Grantor defaults under any loan, extension of credit, security agreement,
purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of
Borrower's property or Borrower's ability to repay this Note or perform Borrower's obligations under this Note or any of the related
documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower's
behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made
or furnished or becomes false or misleading at any time thereafter. Insolvency. The dissolution or termination of Borrower's existence
as a going business, the insolvency of Borrower, the appointment of a receiver for any part of Borrower's property, any assignment
for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency
laws by or against Borrower. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether
by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or by any governmental agency
against any collateral securing the loan. This includes a garnishment of any of Borrower's accounts, including deposit accounts,
with Lender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower as to the validity or
reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower gives Lender written notice
of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding,
in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute. Events Affecting
Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party of any of
the indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes
the validity of, or liability under, any guaranty of the indebtedness evidenced by this Note. DocuSign Envelope ID: 7D1BEA88-56DB-4667-ABA9-888B91F2C803
PROMISSORY NOTE Loan No: 22047419 (Continued) Page 2 Change In Ownership. Any change in ownership of twenty-five percent (25%)
or more of the common stock of Borrower. Adverse Change. A material adverse change occurs in Borrower's financial condition, or
Lender believes the prospect of payment or performance of this Note is impaired. Insecurity. Lender in good faith believes itself
insecure. SBA. When SBA is the holder, this Note will be interpreted and enforced under Federal law, including SBA regulations.
Lender or SBA may use state or local procedures for filing papers, recording documents, giving notice, foreclosing liens, and
other purposes. By using such procedures, SBA does not waive any Federal immunity from state or local control, penalty, tax, or
liability. As to this Note, Borrower may not claim or assert against SBA any local or state law to deny any obligation, defeat
any claim of SBA, or preempt Federal law. PAYCHECK PROTECTION PROGRAM . Lender is making this loan pursuant to the Paycheck Protection
Program (the "PPP") created by Section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES
Act") and governed by the CARES Act, section 7(a)(36) of the Small Business Act, any rules or guidance that has been issued
by the Small Business Administration implementing the PPP, or any other applicable Loan Program Requirements, as defined in 13
CFR 120.10, as amended from time to time (collectively "PPP Loan Program Requirements"). Notwithstanding anything to
the contrary herein, Borrower (a) agrees that this Promissory Note shall be interpreted and construed to be consistent with the
PPP Loan Program Requirements and (b) authorizes the Lender to unilaterally amend any provision to the Promissory Note to the
extent required to comply with the PPP Loan Program Requirements. NOTE FORGIVENESS. Borrower may apply to Lender for forgiveness
of the amount due on this Note in an amount equal to the sum of the following costs incurred by Borrower during the 8-week period
beginning on the date of first disbursement of this Note: a. Payroll costs b. Any payment of interest on a covered mortgage obligation
(which shall not include any prepayment of or principal on a covered mortgage obligation) c. Any payment on a covered rent obligation
d. Any covered utility payment The amount of forgiveness shall be calculated (and may be reduced) in accordance with the requirements
of the PPP, including the provisions of Section 1106 of the CARES Act. Not more than 25% of the amount forgiven can be attributed
to non-payroll costs. If Borrower has received an Economic Injury Disaster Loan ("EIDL") advance, then the amount of
the advance shall be subtracted from the loan forgiveness amount. BORROWER'S CERTIFICATION. In connection with the application
submitted to Lender for a loan under the PPP, Borrower hereby certifies to the Lender the following: a. The "Average Monthly
Payroll" that Borrower reported in the Application was calculated in accordance with the instructions for the PPP Application
Form (SBA From 2483). b. Borrower had and has the requisite corporate power and authority to execute and deliver the Application
and any related documents, and to perform Borrower's obligations thereunder. c. Borrower understands that this Borrower Certification
is being delivered to Lender in addition to the representations, authorizations and certifications Borrower made in the Application.
Borrower further understands that the Lender will rely on the statements contained in this Borrower Certification and the Application
for purposes of making a loan to Borrower under the Program. d. The statements contained in this Borrower Certification and the
representations, authorizations and certifications in the Application are true and correct in all respects. e. Borrower agrees
to indemnify and hold harmless Lender, its officers, directors, employees, agents and controlling persons thereof, past, present
or future, from and against any and all liabilities, losses, costs, damages and expenses, including costs and reasonable attorneys'
fees arising out of or related to any loan made by Lender to Borrower under the PPP, including any misrepresentation, omission,
or inaccuracy contained in this Borrower's Certification, the Application or any supporting documentation provided by Borrower
in connection with obtaining a loan under the PPP. LENDER'S RIGHTS. Upon default, Lender may declare the entire unpaid principal
balance under this Note and all accrued unpaid interest immediately due, and then Borrower will pay that amount. ATTORNEYS' FEES;
EXPENSES. Lender may hire or pay someone else to help collect this Note if Borrower does not pay. Borrower will pay Lender that
amount. This includes, subject to any limits under applicable law, Lender's costs of collection, including court costs and fifteen
percent (15%) of the principal plus accrued interest as attorneys' fees, if any sums owing under this Note are collected by or
through an attorney at law, whether or not there is a lawsuit, and legal expenses for bankruptcy proceedings (including efforts
to modify or vacate any automatic stay or injunction), and appeals. If not prohibited by applicable law, Borrower also will pay
any court costs, in addition to all other sums provided by law. JURY WAIVER. Lender and Borrower hereby waive the right to any
jury trial in any action, proceeding, or counterclaim brought by either Lender or Borrower against the other. GOVERNING LAW. This
Note will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the laws of the State
of Georgia without regard to its conflicts of law provisions. This Note has been accepted by Lender in the State of Georgia. CHOICE
OF VENUE. If there is a lawsuit, Borrower agrees upon Lender's request to submit to the jurisdiction of the courts of Gwinnett
County, State of Georgia. COLLATERAL. This loan is unsecured. SUCCESSOR INTERESTS. The terms of this Note shall be binding upon
Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender
and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Borrower may notify
Lender if Lender reports any inaccurate information about Borrower's account(s) to a consumer reporting agency. Borrower's written
notice describing the specific inaccuracy(ies) should be sent to Lender at the following address: CADENCE BANK, N.A. 3500 Colonnade
Parkway, Suite 600 Birmingham, AL 35243. GENERAL PROVISIONS. If any part of this Note cannot be enforced, this fact will not affect
the rest of the Note. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower
and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for
payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing,
no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability.
All such parties waive any right to require Lender to take action against any other party who signs this Note as provided in O.C.G.A.
Section 10-7-24 and agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party
or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take
any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender
may modify this loan DocuSign Envelope ID: 7D1BEA88-56DB-4667-ABA9-888B91F2C803 PROMISSORY NOTE Loan No: 22047419 (Continued)
Page 3 without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under
this Note are joint .and several. THIS NOTE IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS NOTE IS AND SHALL CONSTITUTE AND
HAVE THE EFFECT OF A SEALED INSTRUMENT ACCORDING TO LAW. BORROWER: GOOD TIMES DRIVE THRU INC. By: Ryan Zink, Officer of Good Times
Drive Thru Inc. (Seal) LaserPro, Ver. 19.2.0.042 Copr. Finastra USA Corporation 1997, 2020. All Rights Reserved. - GA C:\LASERPRO\CFI\LPL\D20.FC
TR-45294 PR-239 DocuSign Envelope ID: 7D1BEA88-56DB-4667-ABA9-888B91F2C803