Document:

Exhibit 10.1(ii)

AMENDMENT 

TO

DEBT PURCHASE AND ASSIGNMENT AGREEMENT
DATED JUNE 15, 2020

 

This
AMENDMENT (“Amendment”) is effective as of August 14, 2020 by and between Target Group Inc., a
Delaware corporation (“Target”), Visava Inc., (“Visava”), CanaryRx Inc.,
(“Canary”), CannaKorp Inc,, a Delaware corporation (“CannaKorp”)
, CL Investors Inc. (“CLI”) and Rubin Schindermann (“Schindermann”).
Visava, Canary and CL, respectively, are corporations organized under the laws of the Province of Ontario, Canada. Target, Visava,
Canary, CannaKorp, CLI and Schindermann are sometimes referred to herein collectively as the “Parties” and individually
as a “Party”.

 

Background
to the Agreement

 

Effective
June 15, 2020, the Parties, except for Schindermann, entered into that certain Debt Purchase and Assignment Agreement (“Agreement”).
The Parties desire to amend the Agreement as set forth herein. All capitalized terms in this Amendment shall have the meaning attributed
to them in the Agreement.

 

Amending
Agreement

 

		1.	Section 2 of the Agreement is amended in its entirely to read as follows:

 

“The
purchase price (“Purchase Price”) for the Canary Debt shall be CLI’s payment to Target at
Closing of $2,900,000.00, which shall, at the sole and absolute discretion of CLI, be tendered to either Target by wire transfer
pursuant to instructions provided by Target or directly to Canary’s solicitors by wire transfer pursuant to instructions
provided by Target and Canary in connection with the Canary Loan referred to Section 11 herein, provided further, that in the event
of the foregoing, Canary shall not make any payment to any third party from the said $2,900,000.00 without the prior written consent
of CLI, which consent may not be unreasonably withheld.”

 

		2.	Section 3 of the Agreement is amended in its entirety to read as follows:

 

“Not
later than ten (10) business days following the Closing, as referred to in Section 10 herein, (i) Rubin Schindermann (“Schindermann”)
shall transfer and assign to CLI all of his right, title and interest in and to 500,000 shares of Target’s Series
A Preferred Stock (“Preferred Stock”) in consideration of the payment by CLI to Schindermann of
$100,000.00 by wire transfer pursuant to instructions to be provided by Schindermann and the issuance by Target to Schindermann
of 10,000,000 shares of the common stock of Target; and (ii) Target shall cause to be issued and delivered to CLI a Common Stock
Purchase Warrant for 10,000,000 shares of Target common stock in the form set forth in the attached Appendix A in consideration
of Schindermann executing and delivering a Full and Final Release to and in favor of Target, Visava, Canary and CannaKorp in the
form attached hereto as Appendix K. Upon CLI making the said payment and Target issuing the said 10,000,000 shares of Target common
stock, Schindermann shall resign as a director of Target and any of its first and second tier subsidiaries.”

 

The form of the Full and
Final Release attached as Appendix K to the Agreement is attached hereto as Schedule “A”.

 

		3.	The form of the Promissory Note attached as Appendix B to the Agreement is
hereby deleted and replaced with the Promissory Note attached hereto as Schedule “B”.

 

     

     

    

 

		4.	Section 9 of the Agreement is amended in its entirety to read as follows:

 

“In lieu of the payment
of $2,900,000.00 of the principal balance of the Amended Canary Note, CLI shall be granted the option (“Option”)
to demand, in its sole and absolute discretion, that (a) Target assign, transfer and convey to CLI, free and clear of all liens
an encumbrances, 75% of the shares of Visava registered in the name of Target (“Visava Shares”); and/or
that (b) Visava assign, transfer and convey to CLI, free and clear of all liens and encumbrances, 75% of the shares of Canary registered
in the name of Visava (“Canary Shares”) pursuant to the terms and provisions of the Option Agreement
in the form attached as Appendix H.

 

		5.	Section 10 of the Agreement is amended to provide that the Closing Date shall
take place not later than August 14, 2020. The remaining provisions are not affected by this Amendment and shall remain as originally
set forth.

 

		6.	Section 11 of the Agreement is amended to provide that the principal amount
of the Canary Loan, as referred to therein, shall be $2,900,000.00. The remaining provisions are not affected by this Amendment
and shall remain as originally set forth.

 

		7.	Schindermann hereby warrants and represents to CLI that he has good and marketable
to the Preferred Stock, free and clear of all mortgages, pledges, restrictions, liens, charges, encumbrances, security interests,
obligations and any prior right, option or other claim in favor of any other party to purchase the Preferred Stock.

 

		8.	In consideration of the transactions contemplated by Section 3 herein, Schindermann
hereby releases and holds harmless Target, Visava, Canary, CannaKorp, and their respective assigns, officers, directors, employees,
agents and representatives from and against all losses, costs, claims, liabilities, damages, known or unknown, of every kind and
character, resulting from, relating to or arising out of his ownership of the Preferred Stock, his employment or management agreement
with Target, Visava, Canary, and CannaKorp, his position as an officer or director of Target, Visava, Canary, and CannaKorp, or
the transactions contemplated by the Agreement and this Amendment.

 

		9.	This Amendment contains the entire understanding of the Parties with respect to its subject matter.
There are no restrictions, agreements, promises, warranties, covenants or undertakings other than those expressly set forth herein
or therein. This Amendment supersedes all prior agreements and understandings between the Parties with respect to its subject matter.
This Amendment may be amended only by a written instrument duly executed by the Parties or their respective successors or assigns.

  

		10.	Each of the Parties shall promptly do, make, execute or deliver, or cause to be done, made, executed
or delivered, all such further acts, documents and instruments as the other Party may reasonably require from time to time for
the purpose of giving effect to this Amendment and shall use its or their best efforts and take all such steps as may be reasonably
within its power to implement to their full extent the terms of this Amendment.

  

		11.	This Agreement may be executed in several counterparts, each of which shall be deemed an original
but all of which together shall constitute one and the same instrument.

   

     

     

    

 

		12.	This Agreement shall be governed by and construed and enforced in accordance with the laws of the
Province of Ontario, Canada, without regard to its conflict of laws doctrines. All actions brought under this Agreement shall be
brought in the appropriate courts of the Province of Ontario, Canada. Each Party hereby waives any right to object to the convenience
of such venue.

  

IN WITNESS WHEREOF,
this Amendment has been duly executed and delivered by the Parties hereto as the date first above written.

  

	TARGET GROUP INC.	 	VISAVA INC.
	 	 	 	 	 
	By:	/s/ Anthony Zacone	 	By: :	/s/ Anthony Zacone
	 	Anthony Zarcone, CEO	 	 	Anthony Zarcone, President

 

	CANARYRX INC.	 	CL INVESTORS INC.
	 	 	 	 	 
	By:	/s/ Anthony Zacone	 	By:	/s/ Jerry Zarcone
	 	Anthony Zarcone, President	 	 	Jerry Zarcone, President

 

	CANNAKORP, INC.	 	SCHINDERMANN
	 	 	 	 
	By:	/s/ Saul Niddam	 	/s/ Rubin Schindermann
	 	Saul Niddam, CEO	 	Rubin Schindermann

 

     

     

    

 

Schedule “A”

 

FULL AND FINAL RELEASE

 

This Full and Final Release is made
as at the 14th day of August 2020. 

 

IN CONSIDERATION OF the issuance
by Target Group Inc. to Rubin Schindermann of 10,000,000 shares of the common stock of Target Group Inc., and further and other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,

 

RUBIN SCHINDERMANN, for
himself, his heirs, agents, successors, and assigns and on behalf of any party or parties who claim a right or interest through
them (hereinafter individually and collectively referred to as the “Schindermann”),

 

HEREBY RELEASE, ACQUIT, AND FOREVER DISCHARGE,
WITHOUT QUALIFICATION OR LIMITATION:

 

TARGET GROUP INC., VISAVA INC.,
CANNAKORP INC., and CANARY RX INC. for themselves, and for their affiliates, subsidiaries, shareholders, partners, officers,
directors, associates, employees, servants, agents, successors and assigns, and on behalf of any party or parties who claim a right
or interest through them (hereinafter individually and collectively referred to as “Target Group”),

 

from all manner of actions, causes of action,
suits, debts, dues, accounts, bonds, covenants, contracts, complaints, claims and demands for damages, monies, losses, indemnity,
costs, interest in loss, or injuries (collectively “Claims”) which hereto may have been or may hereafter be
sustained by Schindermann howsoever arising from and howsoever relating to Schindermann’s employment with Target Group, Schindermann
serving or acting as an officer or director of the Target Group, and Schindermann providing any other services to Target including
with limitation, the termination or removal of all of the foregoing and any and all Claims with respect to salary, remuneration,
repayment of expenses, bonuses, fringe benefits, vacation pay, employee stock option plans, bonus plans, termination of medical
benefits or any other employment benefit or fringe benefit of any kind whatsoever as well as all entitlements, including termination
pay and severance pay, under the Employment Standards Act, 2000 or the common law.

 

WITHOUT LIMITING THE GENERALITY OF THE
FOREGOING, Schindermann declares that the intent of this Full and Final Release is to conclude all issues arising from the
matters set forth above and it is understood and agreed that this Full and Final Release is intended to cover, and does cover,
not only all known injuries, losses and damages, but also injuries, losses and damages not now known or anticipated but which may
later develop or be discovered, including all the effects and consequences thereof.

 

AND FOR THE SAID CONSIDERATION it
is agreed and understood that the Schindermann will not make any claims or take or participate in any civil or administrative proceedings
concerning any matters covered by this Full and Final Release, and will not make any claims or take any proceedings against any
other person or corporation who might claim, in any manner or forum, contribution or indemnity in common law or in equity, or under
the provisions of any statue or regulation, including the Negligence Act and the amendments thereto and/or under any successor
legislation thereto, and/or under the Rules of Civil Procedure, against Target Group, in connection with the matters outlined
above.

 

IT IS AGREED AND UNDERSTOOD that
if Schindermann commences such an action, or take such proceedings, and Target Group is added to such proceeding in any manner
whatsoever, whether justified in law or not, Schindermann will immediately discontinue the proceedings and/or claims, and that
Schindermann will be jointly and severally liable to Target Group for the legal costs incurred in any such proceeding, on a substantial
indemnity basis. This Full and Final Release shall operate conclusively as an estoppel in the event of any claim, action, complaint
or proceeding which might be brought in the future with respect to the matters covered by this Full and Final Release. This Full
and Final Release may be pleaded in the event any such claim, action, complaint or proceeding is brought, as a complete defence
and reply, and may be relied upon in any proceeding to dismiss the claim, action, complaint or proceeding on a summary basis and
no objection will be raised by Schindermann in any subsequent action that the other parties in the subsequent action were not privy
to formation of this Full and Final Release.

 

     

     

    

 

AND FOR THE SAID CONSIDERATION Schindermann
hereby represents and warrants to the other that he has not assigned to any person, firm, or corporation any of the actions, causes
of action, claims, debts, suits or demands of any nature or kind which it has released by this Full and Final Release.

 

IT IS FURTHER AGREED AND UNDERSTOOD
that Schindermann does not hereby admit any liability or obligation of any kind whatsoever to the other and such liability or obligation
is specifically denied.

  

AND IT IS FURTHER UNDERSTOOD AND AGREED
that the fact and terms of this Full and Final Release will be held in confidence and will receive no publication either oral
or in writing, directly or indirectly, by any party hereto, unless deemed essential on auditors’ or accountants’ written
advice for financial statement or income tax purposes, or for the purpose of any judicial proceeding, in which event the fact that
the settlement agreement is made without any admission of liability will receive the same publication contemporaneously.

 

IN WITNESS WHEREOF the parties have executed
this Full and Final Release as of the date first above written.

  

	 	 	/s/ Rubin Schindermann
	Witness	 	Rubin Schindermann

 

 

	 	 	TARGET GROUP INC.
	 	 	Per:	 
	 	 	 	 
	 	 	/s/ Anthony Zarcone
	 	 	Name:  	Anthony Zarcone
	 	 	Title:    	CEO
	 	I have authority to bind the Corporation
	 	 	 	 
	 	 	 	 
	 	 	VISAVA INC.
	 	 	Per:	 
	 	 	 	 
	 	 	/s/ Anthony Zarcone
	 	 	Name:   	Anthony Zarcone
	 	 	Title:     	President
	 	I have authority to bind the Corporation

  

     

     

    

 

	 	 	CANARY RX INC.
	 	 	Per:	 
	 	 	 	 
	 	 	/s/ Anthony Zacone
	 	 	Name:  	Anthony Zarcone
	 	 	Title:    	President
	 	I have authority to bind the Corporation
	 	 	 	 
	 	 	 	 
	 	 	CANNAKORP INC.
	 	 	Per:	 
	 	 	 	 
	 	 	/s/ Saul Niddam
	 	 	Name:  	Saul Niddam
	 	 	Title:    	President
	 	I have authority to bind the Corporation

  

     

     

    

 

Schedule “B”

PROMISSORY NOTE

 

Date:August 14, 2020 (the “Effective
date”)

 

For Value Received, Canary Rx Inc. (“Canary”)
promises to pay to or to the order of CL Investors Inc. (“CLI”), the principal amount specified below (the "Principal"),
together with all interest as set forth below (the “Interest”) and all other amounts as set forth below on and
subject to the terms and conditions as set forth below.

 

This Promissory Note (the “Note”)
is a negotiable instrument.

 

		1.	Principal: The Principal of this Note is the amount of Ten Million, Six Hundred Thousand
Dollars ($10,600,000.00) CDN.

 

		2.	Term: The Term on this Note shall be five (5) years commencing on the Effective Date.

 

		3.	Interest: Interest shall accrue at a rate of five percent (5%) per annum, calculated monthly,
not in advance. The covenant to pay Interest shall not merge on the taking of a judgment or judgments with respect to any of the
obligations herein stipulated for.

 

		4.	Payments: Canary shall make the following payments to CLI under this Note throughout the
Term, it being understood and agreed that all such payments shall first be applied against Interest:

 

		(a)	In the first year of the Term, Canary shall, by the end of such first year, pay CLI the greater
of One Million One Hundred and Thirty Thousand ($1,130,000.00) Dollars and fifty percent (50%) of the Net Revenue (hereinafter
defined), provided that where the latter amount exceeds the former amount, Canary shall, by the end of such first year, pay CLI
no less than the former amount and Canary shall, within thirty (30) days following the end of such first year, pay CLI the balance
of the such payments owing for such first year;

 

		(b)	In the second year of the Term, Canary shall pay CLI the greater of Two Million One Hundred Thousand
($2,100,000.00) Dollars and fifty percent (50%) of the Net Revenue, by way of twelve (12) consecutive monthly installments payable
on the 14th day of each month commencing on August 14, 2021 for a monthly amount of One Hundred and Seventy-Five Thousand
($175,000.00), provided that where the latter amount exceeds the former amount, Canary shall, by the end of such second year, pay
CLI no less than the former amount and Canary shall, within thirty (30) days following the end of such second year, pay CLI the
balance of the such payments owing for such second year;

 

		(c)	In the third year of the Term, Canary shall pay CLI the greater of Three Million Two Hundred and
Twenty Thousand ($3,220,000.00) Dollars and fifty percent (50%) of the Net Revenue, by way of twelve (12) consecutive monthly installments
payable on the 14th day of each month commencing on August 14, 2022 for a monthly amount of Two Hundred and Sixty-Six
Thousand Six Hundred and Sixty-Six Dollars and Sixty-Six Cents ($266,666.66), provided that where the latter amount exceeds the
former amount, Canary shall, by the end of such third year, pay CLI no less than the former amount and Canary shall, within thirty
(30) days following the end of such third year, pay CLI the balance of the such payments owing for such third year;

 

     

     

    

 

		(d)	In the fourth year of the Term, Canary shall pay CLI the greater of Three Million Eighty Thousand
($3,080,000.00) Dollars and fifty percent (50%) of the Net Revenue, by way of twelve (12) consecutive monthly installments payable
on the 14th day of each month commencing on August 14, 2023 for a monthly amount of Two Hundred and Fifty-Six Thousand
Six Hundred and Sixty-Six Dollars and Sixty-Six Cents ($256,666.66), provided that where the latter amount exceeds the former amount,
Canary shall, by the end of such fourth year, pay CLI no less than the former amount and Canary shall, within thirty (30) days
following the end of such fourth year, pay CLI the balance of the such payments owing for such fourth year; and

 

		(e)	In the fifth year of the Term, Canary shall pay CLI the balance owing under this Note, by way of
twelve (12) consecutive monthly installments payable on the 14th day of each month commencing on August 14, 2024 for
an amount calculated by dividing twelve (12) into the sum of all amounts owing under this Note at the beginning of the fifth year
of the Term on account of Principal and Interest, provided that where there are further amounts owing under this Note at the end
of such fifth year, Canary shall pay CLI all such further amounts within five (5) days following the end of such fifth year.

For the purposes of this Note, “Net Revenue”
shall mean any and all revenue generated from Canary’s Licensed Facility (hereinafter defined) to which it is entitled net
of applicable taxes and third-party expenses.

 

		5.	Closed: This Note is closed, and as such, Canary shall not have the right or privilege of
prepaying the whole or any part of the Principal or Interest owing hereunder at any time or times except with the consent of the
CLI, which consent may be arbitrarily and unreasonably withheld.

 

		6.	Default: The following are acts or events of default under this Note:

 

		(a)	The failure on the part of Canary and/or any of Target Group Inc. (“TGI”), Visava
Inc. (“Visava”), and/or CannaKorp, Inc. (“CannKorp.”, which together with TGI, and Visava
are hereinafter referred to as the “Affiliates”) to pay and/or perform any obligations, liabilities or indebtedness
(as and when due) to CLI, whether contemplated under this Note or under another present or future agreement, note or instrument
(whether due by maturity or by acceleration) including without limitation the Debt Purchase and Assignment Agreement dated June
15, 2020 as between, Canary, CLI, and the Affiliates (the “Agreement”); or

 

		(b)	The failure on the part of Canary and/or any of its Affiliates to keep in good standing and otherwise
observe and perform all obligations under any licenses including without limitation Licence No. LIC-9B4CKDEB1R-2019 issued by Health
Canada to and in favour of Canary at lands and premises municipally known as 385 Second Ave West, Simcoe, Ontario Canada, N3Y 4J8
(the “Licensed Facility”); or

 

		(c)	The failure on the part of Canary and/or any of its Affiliates to keep in good standing and otherwise
observe and perform all obligations under a Lease made the 28th day of June, 2018 between E. & E. McLaughlin Ltd.
and Canary in respect of the Licensed Facility, as amended from time to time; or

 

		(d)	The insolvency of Canary and/or any of its Affiliates or the appointment of a receiver, manager,
trustee, liquidator, for any of the property of Canary and/or any of its Affiliates or an assignment for the benefit of any of
Canary’s creditors and/or any of the Affiliate’s creditors; or

 

     

     

    

 

		(e)	Execution is levied or issued against all or any part of any property of Canary and/or any of its
Affiliates; or

 

		(f)	The institution of a proceeding in bankruptcy against Canary and/or any of its Affiliates, whether
voluntarily or involuntarily, or the institution of proceedings by Canary and/or any of its Affiliates to obtain relief against
creditors; or

 

		(g)	An occurrence of any default by Canary and/or any of its Affiliates under any of the security given
by Canary and/or any of its Affiliates pursuant to the terms and provisions of the Agreement (the “Security”)
(which for greater clarity shall include all agreements entered into by Canary and/or any of its Affiliates in respect of such
Security).

 

Despite any time allowed for
any payment under this Note, where there is an act or event of default, the total Principal then outstanding plus all Interest
under this Note (accrued and unaccrued to the expiration of the Term) shall, at the sole and absolute discretion of CLI, immediately
become due and payable. Further, in the event of a default, Canary shall pay all costs incurred by CLI in enforcing and collecting
upon this Note, including legal costs on a substantial indemnity scale.

 

		8.	Presentment, etc.: Canary hereby waives presentment, demand, notice of dishonour, notice
of protest, notice of non-payment and any other notice required by law to be given to Canary on this Note in connection with the
delivery, acceptance, performance, default or enforcement of this Note and consents to,

 

		(a)	Any delays, extensions, renewals or other modifications of this Note; and

 

		(b)	Any waivers of any term or condition of this Note;

 

by CLI or any other person, and
Canary agrees that no such action or failure to act by CLI or any other person shall affect or impair the obligations of Canary,
or be construed as being a waiver by CLI or that other person of its rights under this Note.

 

		9.	Assignment: CLI shall be entitled to assign any rights under this Note, without the consent
of Canary, on ten (10) days’ notice to Canary, provided that the assignee has agreed to assume all obligations and covenants
of CLI under the Agreement and this Note.

 

		10.	Proper Law: This Note is subject to the laws of Ontario and Canary consents to the exclusive
jurisdiction of the courts of Ontario in respect of all proceedings arising under this Note.

 

		10.	Interpretation: In this Note,

 

		(a)	A word importing the masculine, feminine or neuter gender only includes members of the other genders;

 

		(b)	A word defined in or importing the singular number has the same meaning when used in the plural
number, and vice versa;

 

		(c)	The headings to each section are inserted for convenience of reference only and do not form part
of this Note;

 

     

     

    

 

		(d)	This Note may not be changed, modified or cancelled orally or in any manner other than by agreement
in writing signed by CLI and Canary; and

 

		(e)	All references to CLI shall be deemed to include the permitted successors and permitted assigns
of CLI.

 

Signed as of the date first above written

 

	 	CANARY RX INC.
	 	Per:
	 	 
	 	 
	 	/s/ Anthony Zacone
	 	Name: Anthony Zarcone
	 	Position: C.E.O.
	 	I have authority to bind the CorporationExhibit 10.2

 

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 July 23, 2020
	 	New York, New York

 

OTR Acquisition Corp., a Delaware corporation
and blank check company (the "Maker"), promises to pay to the order of OTR Acquisition Sponsor LLC or its registered
assigns or successors in interest (the "Payee"), or order, the principal sum of up to Three Hundred Thousand Dollars
($300,000) 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, 2020 or (ii) the date on which
Maker consummates an initial public offering of its securities. 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 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, 2020 or (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 Ten Thousand Dollars ($10,000) unless agreed upon by Maker and Payee. Payee 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 is Three Hundred Thousand Dollars ($300,000). Once an amount is drawn down under
this Note, it shall not be available for future Drawdown Requests even if prepaid. No fees, payments or other amounts shall be
due to Payee in connection with, or as a result of, any Drawdown Request by Maker. Notwithstanding the foregoing, 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

attorneys' fees, and then to the reduction of 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 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 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), 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 or 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 made 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.

 

     

     

    

 

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
initial public offering (the "IPO") to be 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 closing
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.

 

	 	 OTR ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Nicholas Singer
	 	 	Name: Nicholas Singer
	 	 	Title: Chief Executive Officer

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