Document:

Exhibit 10.6

      

       
      THIS PROMISSORY NOTE ("NOTE") AND THE SECURITIES INTO WHICH THE NOTE MAY BE CONVERTED HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") OR UNDER THE SECURITIES LAWS OF ANY STATE. 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 AND APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM,
        SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

       

      PROMISSORY NOTE

       

      	 	
              Dated as of January 28, 2021

            
	 	 
	
              Principal Amount: Up to $1,750,000.00

            	
              New York, New York

            

      

      

      Pursuant to that certain Expense Advance Agreement (the "Agreement"), dated as of January 28, 2021, by and between CF Acquisition Corp. V, a Delaware corporation (the "Maker"), and CFAC Holdings V, LLC (the "Payee"), the Maker hereby promises to pay to the order of the Payee or its registered assigns or successors in interest, the
        principal sum of up to One Million Seven Hundred and Fifty Thousand Dollars ($1,750,000.00) 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. Certain terms used herein but not defined
        herein shall have the meaning given to such terms in the Agreement.

       

      1. Principal. The principal balance of this Note shall be payable by Maker on the date on which Maker consummates its Business Combination. 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 or be charged by Payee on the unpaid principal balance of this Note.

       

      
        3. Drawdown Requests. Maker and Payee agree that Maker may request up to One Million Seven Hundred and Fifty Thousand Dollars ($1,750,000.00) for costs reasonably related to
          Maker's working capital needs prior to the consummation of the Business Combination. The principal of this Note may be drawn down from time to time prior to the date on which Maker consummates a Business Combination, upon request from Maker to
          Payee (each, a "Drawdown Request") in such amounts as Maker may determine in its discretion. 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 One Million Seven Hundred and Fifty Thousand Dollars ($1,750,000.00). 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.

         

      

      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 and 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 occurrence of any of 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) or 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: (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 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 THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES 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 right, title, interest or claim of any kind ("Claim")

        in or to any distribution of or from the Trust Account, 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 if the Maker completes
        a Business Combination, the Maker shall repay the principal balance of this Note, which may be out of the proceeds released to the 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 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; provided, however, that this Note shall be
        freely assignable by the Payee to any assignee.

       

      [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.

       

      	 	
              CF Acquisition Corp. V

            
	 	 	 
	 	
              By:

            	
              /s/ Howard Lutnick

            
	 	 	
              Name:

            	
              Howard Lutnick

            
	 	 	
              Title:

            	
              Chief Executive Officer

            

      

      

      [Signature Page to the Promissory Note by CF Acquisition Corp. V in favor of CFAC Holdings V, LLC for up to $1,750,000 for Working Capital]Exhibit 10.7

      

       

      

      -CF Acquisition Corp. V 

      
        110 East 59th Street

        
          New York, NY 10022

           

          

        

      

      
        January 28, 2021

      

      

      

      CFAC Holdings V, LLC

      110 East 59th Street

      New York, NY 10022

       

      Re: Administrative Services Agreement

       

      Ladies and Gentlemen:

       

      This letter agreement by and between CF Acquisition Corp. V (the "Company") and CFAC Holdings V, LLC (the "Sponsor"), dated as of the date hereof, will confirm our agreement that, commencing on the
        date the securities of the Company are first listed on the Nasdaq Capital Market (the "Listing Date"), pursuant to a Registration Statement on Form S-1 and prospectus filed with the U.S. Securities and Exchange Commission (the "Registration
        Statement") and continuing until the earlier of the consummation by the Company of an initial business combination or the Company's liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as
        the "Termination Date"):

       

      (i) The Sponsor shall make available, or cause to be made available, to the Company, 110 East 59th Street, New York, NY 10022 (or any successor location of the Sponsor), certain office space,
        utilities and secretarial and administrative support as may be reasonably required by the Company. In exchange therefor, the Company shall pay the Sponsor the sum of $10,000 per month on the Listing Date and continuing monthly thereafter until the
        Termination Date; and

       

      (ii) The Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result of, or arising out of, this letter agreement (each, a "Claim") in
        or to, and any and all right to seek payment of any amounts due to it out of, the trust account established for the benefit of the public stockholders of the Company and into which substantially all of the proceeds of the Company's initial public
        offering will be deposited (the "Trust Account") as a result of, or arising out of, this letter agreement, and hereby irrevocably waives any Claim it may have in the future, which Claim would reduce, encumber or otherwise adversely affect the Trust
        Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason
        whatsoever.

       

      This letter agreement constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter 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 amended, modified or waived as to any particular provision, except by a written instrument executed by the parties hereto.

       

      No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party. 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 constitutes the entire relationship of the parties hereto, and any litigation between the parties (whether grounded in contract, tort, statute, law or equity) shall be
        governed by, construed in accordance with, and interpreted pursuant to the laws of the State of New York, without giving effect to its choice of law principles.

       

      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. In the event that any signature is delivered by facsimile transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation of the party
        executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof.

       

      [Signature Page Follows]

       

      
        
          

      

      	 	
              Very truly yours,

            
	 	 
	 	
              CF ACQUISITION CORP. V

            
	 	 	 
	 	
              By:

            	
              /s/ Howard Lutnick

            
	 	 	
              Name:

            	
              Howard Lutnick

            
	 	 	
              Title:

            	
              Chief Executive Officer

            

       

      

      AGREED TO AND ACCEPTED BY:

      CFAC HOLDINGS V, LLC

       

      

      	
              By:

            	
              /s/ Howard Lutnick

            	 
	 	
              Name:

            	
              Howard Lutnick

            	 
	 	
              Title:

            	
              Chief Executive Officer

            	 

      

      

      [Signature Page to Administrative Services Agreement - CF Acquisition Corp. V]

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