Exhibit 10.2


 





THIS AMENDED AND RESTATED 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.  


 


AMENDED AND RESTATED PROMISSORY NOTE


 


	Principal Amount:  $250,000.00	July 24, 2019


 


Greenland Acquisition
Corporation, a British Virgin Islands company with limited liability (“Maker”), promises to pay to the order
of Greenland Asset Management Corporation, a British Virgin Islands company with limited liability, or its registered assigns or
successors in interest or order (“Payee”), the principal sum of up to Two Hundred Fifty Thousand Dollars ($250,000.00)
in lawful money of the United States of America, on the terms and conditions described below.  


 


This Note amends and
restates in its entirety all of the terms, conditions and provisions governing outstanding advances under that certain promissory
note, dated as of April 29, 2019 (the “Original Note”) made by the Maker to the order of the Payee. The amendment
and restatement of the Original Note by this Note shall not constitute a novation or termination of the obligations and covenants
of the Maker under the Original Note, but shall constitute an amendment and restatement of the obligations and covenants of the
Maker under the Original Note.


 


All payments on this
Note (unless the full principal is converted pursuant to Section 15 below) shall be made by check or wire transfer of immediately
available funds to such account as Payee may from time to time designate by written notice in accordance with the provisions of
this Note.


 


		1.	Repayment. The
principal balance of this Note shall be payable on the earliest to occur of (i) the date on which Maker consummates its initial
business combination and (ii) the date that the winding up of Maker is effective (such date, the “Maturity Date”).
The principal balance may be prepaid at any time, at the election of Maker.


 


		2.	Interest. This
Note shall be non-interest bearing.


 


		3.	Drawdown
Requests. Payee, in its sole and absolute discretion, may fund Two Hundred Fifty Thousand Dollars ($250,000.00) for costs
reasonably related to Maker’s consummation of an initial business combination. The principal of this Note may be drawn down
from time to time until the date on which Maker consummates its initial business combination, upon written request from Maker
to Payee (each, a “Drawdown Request”). Each Drawdown Request must state the amount to be drawn down, and must
be in multiples of not less than Ten Thousand Dollars ($10,000) unless agreed upon by Maker and Payee. Payee, in its sole discretion,
shall fund each Drawdown Request no later than five (5) business days after receipt of a Drawdown Request; provided, however,
that the maximum amount of drawdowns collectively under this Note shall not exceed Two Hundred Fifty Thousand Dollars ($250,000.00).
Once an amount is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid. Except as
set forth herein, 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 received by Payee pursuant to this Note shall be applied first to the 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 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 Maturity
Date.


 



     


     


    

 





(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) and 5(c) hereof, the unpaid principal balance of this Note and all other amounts payable
hereunder, 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 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 or personal property 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 THE CONFLICT OF LAWS PROVISIONS
THEREOF.


 






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		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 claim in or to any distribution
of or from the trust account (the “Trust Account”) established in connection with Maker’s initial public
offering (the “IPO”), 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 upon the consummation of the initial business
combination, Maker shall repay the principal balance of this Note out of the proceeds released to 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 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; provided, however, that the foregoing shall not apply to an affiliate of Payee who agrees to be bound
to the terms of this Note.


 


	 	15.	Conversion.


 


(a) Notwithstanding anything
contained in this Note to the contrary, at Payee’s option, at any time prior to payment in full of the principal balance
of this Note, Payee may elect to convert all or any portion of the unpaid principal balance of this Note into that number of units,
each unit consisting of one ordinary share of the Maker, one warrant exercisable for one half of one ordinary share of the Maker
and one right to receive one-tenth (1/10) of one ordinary share of the Maker upon the consummation of an initial business combination
(the “Conversion Units”), equal to: (x) the portion of the principal amount of this Note being converted
pursuant to this Section 15, divided by (y) $10.00, rounded up to the nearest whole number of units. The Conversion Units shall
be identical to the units issued by the Maker to the Payee in a private placement upon consummation of the Maker’s initial
public offering. The Conversion Units and their underlying securities, 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, shall be entitled to the registration rights set forth in Section 16 hereof.


 


(b) Upon any complete or 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) Payee shall surrender and deliver this Note, duly endorsed, to Maker or such
other address which Maker shall designate against delivery of the Conversion Units, (iii) Maker shall promptly deliver a new duly
executed Note to Payee in the principal amount that remains outstanding, if any, after any such conversion and (iv) in exchange
for all or any portion of the surrendered Note, Maker shall, at the direction of Payee, deliver to Payee (or its members or their
respective affiliates) (Payee or such other persons, the “Holders”) the Conversion Units, which shall bear such
legends as are required, in the opinion of counsel to Maker or by any other agreement between Maker and Payee and applicable state
and federal securities laws.


 


(c) The Holders shall pay any
and all issue and other taxes that may be payable with respect to any issue or delivery of the Conversion Units upon conversion
of this Note pursuant hereto; provided, however, that the Holders shall not be obligated to pay any transfer taxes resulting from
any transfer requested by the Holders in connection with any such conversion.


 


(d) The Conversion Units shall
not be issued upon conversion of this Note unless such issuance and such conversion comply with all applicable provisions of law.


 






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	 	16.	Registration Rights.


 


(a) Reference is made to that
certain Registration Rights Agreement between Maker and the parties thereto, dated as of July 24, 2018 (the “Registration
Rights Agreement”). All capitalized terms used in this Section 16 shall have the same meanings ascribed to them in the
Registration Rights Agreement.


 


(b) The Holders shall be entitled
to one Demand Registration, which shall be subject to the same provisions as set forth in Section 2.1 of the Registration Rights
Agreement.


 


(c) The Holders shall also be
entitled to include the Conversion Units and their underlying securities in Piggyback Registrations, which shall be subject to
the same provisions as set forth in Section 2.2 of the Registration Rights Agreement; provided, however, that in the event that
an underwriter advises Maker that the Maximum Number of Securities has been exceeded with respect to a Piggyback Registration,
the Holders shall not have any priority for inclusion in such Piggyback Registration.


 


(d) Except as set forth above,
the Holders and Maker, as applicable, shall have all of the same rights, duties and obligations set forth in the Registration
Rights Agreement.


 


[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 above written.


 


	 	GREENLAND ACQUISITION CORPORATION
	 	 	 
	 	By:	/s/ Yanming Liu
	 	 	Name: Yanming Liu
	 	 	Title:  Chairman and Chief Executive Officer


 


 


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