Document:

Exhibit 10.1 

 

FORM
OF LETTER AGREEMENT FROM EACH OF THE REGISTRANT’S SPONSOR, OFFICERS AND DIRECTORS

 

____________
__, 2021

 

OmniLit
Acquisition Corp

1111
Lincoln Road, Suite 500

Miami
Beach, FL 33139

 

Imperial
Capital, LLC

10100
Santa Monica Blvd.

#2400

Los
Angeles, CA 90067

 

	 	Re:	Initial
    Public Offering

 

Gentlemen:

 

This letter (“Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between OmniLit Acquisition Corp., a Delaware corporation (the “Company”), and Imperial
Capital, LLC as representative (the “Representative”) of the several Underwriters named in Schedule I thereto
(the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of ________________ of the Company’s units (including up to ________ units that may be purchased to cover over-allotments,
if any) (the “Units”), each comprised of one share of the Company’s Class A common stock,
par value $0.0001 per share (the “Common Stock”), and one-half of a warrant, each whole warrant
exercisable for one share of Common Stock (each, a “Warrant”) upon completion of a merger, share exchange,
asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses
or entities (each a “Business Combination”). The Units will be sold in the IPO pursuant to a registration statement
on Form S-1 (File No. 333-____________) and prospectus (the “Prospectus”) filed by the Company with the U.S.
Securities and Exchange Commission (the “Commission”) and the Company has applied to have the Units listed
on ____________. Certain capitalized terms used herein are defined in paragraph 14 hereof.

 

In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition
of the benefit that such IPO will confer upon the undersigned, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

1.
If the Company solicits approval of its stockholders of a Business Combination, the undersigned will vote all shares of Common Stock
beneficially owned by him, her, or it, whether acquired before, in, or after the IPO, in favor of such Business Combination.

 

2. (a) In the event that the Company fails to
consummate a Business Combination within the time period set forth in the Company’s Amended and Restated Certificate of Incorporation,
as the same may be amended from time to time (the “Certificate of Incorporation”), the undersigned will, as
promptly as possible, cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably
possible, but not more than 10 business days thereafter, subject to lawfully available funds therefore, redeem the IPO Shares
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned
on the Trust Account net of interest released to the Company as permitted pursuant to the Trust Agreement, divided by the number of then
outstanding IPO Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the
right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible
following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors,
dissolve and liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Delaware law to provide
for claims of creditors and other requirements of applicable law.

 

(b) The undersigned hereby waives any and all
right, title, interest or claim of any kind in or to any distribution of the Trust Account (“Claim”) with respect
to the shares of Founders’ Common Stock owned by the undersigned and hereby waives any Claim the undersigned may have in the future
as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Account
for any reason whatsoever, except in connection with a liquidation of the Company with respect to any IPO Shares they may hold.
The undersigned acknowledges and agrees that there will be no distribution from the Trust Account with respect to any Warrants, all rights
of which will terminate on the Company’s liquidation.

 

    	1

     

    

  

(c) In the event of the liquidation of the Trust
Account, the Sponsor agrees to indemnify and hold harmless the Company for any debts and obligations to target businesses or vendors
or other entities that are owed money by the Company for services rendered or contracted for or products sold to the Company, but only
to the extent necessary to ensure that such debt or obligation does not reduce the amount of funds in the Trust Account below $10.20
per IPO Share; provided that such indemnity shall not apply (i) if such vendor or prospective target business executed an
agreement waiving any right, title, interest or claim of any kind they may have in or to any monies held in the Trust Account, or (ii)
as to any claims under the Company’s obligation to indemnify the Underwriters against certain liabilities, including liabilities
under the Securities Act of 1933, as amended (the “Securities Act”). 

 

3. The undersigned acknowledges and agrees that
prior to entering into a Business Combination with a target business that is affiliated with any Insiders of the Company or their affiliates,
such transaction must be approved by a majority of the Company’s disinterested directors and the Company must obtain an opinion
from an independent investment banking firm which is a member of FINRA or an independent accounting firm, that such
Business Combination is fair to the Company’s unaffiliated stockholders from a financial point of view.

 

4.
Neither the undersigned nor any affiliate of the undersigned will be entitled to receive and will not accept any compensation or other
cash payment prior to, or for services rendered in order to effectuate, the consummation of the Business Combination; provided that the
Company shall be allowed to make the payments set forth in the Registration Statement under the caption “Prospectus Summary –
The Offering – Limited payments to insiders.”

 

5.
Neither the undersigned nor any affiliate of the undersigned will be entitled to receive or accept a finder’s fee or any other
compensation in the event either of the undersigned or any affiliate of the undersigned originates a Business Combination.

 

 6. (a) The Sponsor and each Insider agrees
that it, he or she shall not transfer any Founders’ Common Stock (or shares of Common Stock issuable upon conversion thereof) until
the earlier of: (A) one (1) year after the completion of the Company’s initial Business Combination; or (B) subsequent to the Business
Combination: (x) if the last sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 60 days
after the Company’s initial Business Combination; or (y) the date on which the Company completes a liquidation, merger, capital
stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having the right
to exchange their shares of Common Stock for cash, securities or other property (the “Founders’ Common Stock Lock-up Period”). 

   

 (b) The Sponsor and each Insider agrees that
it, he or she shall not transfer any Private Placement Warrants or shares of Common Stock issued or issuable upon the exercise of the
Private Placement Warrants, until thirty (30) days after the completion of a Business Combination (the “Private Placement Lock-up
Period”, together with the Founders’ Common Stock Lock-up Period, the “Lock-up Periods”). 

   

 (c) Notwithstanding the provisions set forth
in paragraphs 6(a) and (b), transfers of the Founders’ Common Stock, Private Placement Warrants and shares of Common Stock issued
or issuable upon the exercise or conversion of the Private Placement Warrants or the Founders’ Common Stock that are held by the
Sponsor, any Insider or any of their permitted transferees (that have complied with this paragraph 6(c)), are permitted: (a) to the Company’s
officers or directors, any affiliate or family member of any of the Company’s officers or directors or any affiliate of the Sponsor
or to any member(s) of the Sponsor; (b) in the case of an individual, by gift to a member of such individual’s immediate family
or to a trust, the beneficiary of which is a member of such individual’s immediate family, an affiliate of such individual or to
a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of such individual;
(d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection
with the consummation of an initial Business Combination at prices no greater than the price at which the shares or warrants were originally
purchased; (f) in the event of the Company’s liquidation prior to the completion of an initial Business Combination; or (g) by
virtue of the laws of the State of Delaware or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor;
provided, however, that in the case of clauses (a) through (e) or (g), these permitted transferees must enter into a written agreement
with the Company agreeing to be bound by the transfer restrictions herein. 

 

    	2

     

    

 

7.
(a) In order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby
agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present to the
Company for its consideration, prior to presentation to any other entity, any suitable target business, subject to any pre-existing fiduciary
or contractual obligations the undersigned might have.

  

(b)
The undersigned hereby agrees and acknowledges that (i) each of the Underwriters and the Company may be irreparably injured in the event
of a breach of any of the obligations contained in this letter, (ii) monetary damages may not be an adequate remedy for such breach and
(iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law
or in equity, in the event of such breach.

 

8.
The undersigned’s biographical information previously furnished to the Company and the Representative is true and accurate in all
respects, does not omit any material information with respect to the undersigned’s background and contains all of the information
required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act. The undersigned’s Director,
Officer and Stockholder Questionnaire and FINRA Questionnaire previously furnished to the Company and the Representative is true
and accurate in all respects.

 

9. The undersigned has full right and power,
without violating any agreement by which he, she or it is bound, to enter into this letter agreement and to serve as a director and/or
officer of the Company, as applicable. 

 

10. The undersigned hereby waives any right to
exercise redemption rights with respect to the Founders’ Common Stock or any IPO Shares owned or to be owned
by the undersigned, directly or indirectly (or to sell such shares to the Company in a tender offer), and agrees not to seek redemption
with respect to such shares in connection with any vote to approve a Business Combination (or sell such shares to the Company in
a tender offer in connection with such a Business Combination).

 

 11. The undersigned agrees not to propose any
amendment to the Certificate of Incorporation to modify: (i) the substance or timing of the ability of holders of IPO Shares to seek
redemption in connection with a Business Combination or amendments to the Certificate of Incorporation prior thereto; or (ii) (A) the
Company’s obligation to redeem 100% of the IPO Shares if the Company does not complete a Business Combination within such time
set forth in the Certificate of Incorporation; or (B) any other provisions relating to stockholders’ rights or pre-initial Business Combination
activity, unless the Company provides its public stockholders with the opportunity to redeem their IPO Shares upon approval of any such
amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest
earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes, divided by the number of then
outstanding IPO Shares. 

 

12. In the event that the Company does not consummate
a Business Combination and must liquidate and its remaining net assets are insufficient to complete such liquidation, the Sponsor
agrees to advance such funds necessary to complete such liquidation and agrees not to seek repayment for such expenses. 

 

 

13. This letter agreement shall be governed by
and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles
that would result in the application of the substantive laws of another jurisdiction. Each of the Company and the undersigned hereby
(i) agrees that any action, proceeding or claim against him arising out of or relating in any way to this letter agreement (a “Proceeding”)
shall be brought and enforced in the courts of the State of New York of the United States of America for the Southern District of New
York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive and (ii) waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum. The undersigned irrevocably agrees to appoint [_________] as
agent for the service of process in the State of New York to receive, for the undersigned and on his behalf, service of process in any
Proceeding. If for any reason such agent is unable to act as such, the undersigned will promptly notify the Company and the Representative
and appoint a substitute agent acceptable to each of the Company and the Representative within 30 days and nothing in this letter will
affect the right of either party to serve process in any other manner permitted by law.

 

    	3

     

    

 

 14. As used herein, (i) “Insiders”
means all officers, directors and sponsor of the Company immediately prior to the IPO; (ii) “Founders’ Common
Stock” means all of the shares of Common Stock of the Company acquired by an Insider prior to the IPO; (iii) “IPO
Shares” means the shares of Common Stock issued in the Company’s IPO; (iv) “Private Securities”
means the warrants that are being sold privately by the Company simultaneously with the consummation of the IPO; (v) “Trust
Agreement” means the Investment Management Trust Agreement between the Company and Continental Stock Transfer & Trust
Company being entered into in connection with the IPO and governing the use of funds held in the Trust Account; (vi) “Trust
Account” means the trust account established pursuant to the Trust Agreement into which a portion of the net proceeds
of the IPO and the sale of the Private Securities will be deposited; and (vii) “Registration Statement”
means the Company’s registration statement on Form S-1 (SEC File No. 333-________) filed with the Securities and Exchange
Commission.

 

 15.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent
they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed,
amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument
executed by all parties hereto. 

   

 16.
Each of the undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the Underwriters a representative
of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of the Company with respect to the subject
matter hereof. 

   

 17. The Company will maintain an insurance
policy or policies providing directors’ and officers’ liability insurance, and each Director shall be covered by such policy
or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any of the Company’s directors
or officers. 

   

 18. No party hereto may assign either this
Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other parties. Any
purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest
or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each Insider and their respective successors,
heirs and assigns and permitted transferees. 

   

 19. Nothing in this Letter Agreement shall
be construed to confer upon, or give to, any person or corporation other than the parties hereto any right, remedy or claim under or
by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants, conditions,
stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties hereto
and their successors, heirs, personal representatives and assigns and permitted transferees. 

   

 20. This Letter Agreement may be executed
in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute but one and the same instrument. 

   

 21. This Letter Agreement shall be deemed
severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of
this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision,
the parties hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in terms to such invalid
or unenforceable provision as may be possible and be valid and enforceable. 

   

 22. Any notice, consent or request to be given
in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by express mail or similar
private courier service, by certified mail (return receipt requested), by hand delivery or facsimile transmission. 

   

 23. This Letter Agreement shall terminate
on the earlier of: (i) the expiration of the Lock-up Periods; or (ii) the liquidation of the Company; provided, however, that this Letter
Agreement shall earlier terminate in the event that the IPO is not consummated and closed by [__________], 202[_]; provided further that
paragraph 2(c) of this Letter Agreement shall survive such liquidation. 

 

	  	[_______________]
	 	Print
    Name of Insider
	 	 
	 	 
	 	Signature
	 	 
	 	Acknowledged
    and Agreed
	 	 
	 	OMNILIT
    ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	Name:	Al
    Kapoor
	 	Title:	Chief
    Executive Officer

 

    	4Exhibit
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 June 10, 2021

    Miami
    Beach, Florida

 

OmniLit
Acquisition Corp., a Delaware corporation and blank check company (the “Maker”), promises to pay to the order of OmniLit
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), or such lesser amount as shall have been advanced to Payee to Maker and shall remain unpaid
under this Note, 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”) (such earlier date, the “Maturity
Date”). 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 an aggregate amount of Three Hundred Thousand Dollars ($300,000)
for costs reasonably related to Maker’s IPO. The principal of this Note may be drawn down from time to time prior to the Maturity
Date 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. So long as
no Event of Default has occurred hereunder, 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 or similar amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker, except for costs
incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney’s fees.

 

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 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.

 

    	1

     

    

 

(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 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 (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.

 

    	2

     

    

 

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.

 

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.

 

	 	OMNILIT
    ACQUISITION CORP.

    

	 	 	 
	 	By:	/s/
    Al Kapoor
	 	 	Al
    Kapoor
	 	 	Chief
    Executive Officer

 

    	3

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