Document:

Exhibit 10.13

 

UNIT SUBSCRIPTION AGREEMENT

 

This UNIT SUBSCRIPTION AGREEMENT (this “Agreement”)
is made as of the [__] day of [____], 2022, by and between Papaya Growth Opportunity Corp. I, a Delaware corporation (the “Company”),
having its principal place of business at 2201 Broadway, #750, Oakland, CA 94612, and J.V.B. Financial Group, LLC on behalf of its Cohen
 & Company Capital Markets division (“CCM” or the “Subscriber”).

 

WHEREAS, the Company desires
to sell to the Subscriber on a private placement basis (the “Offering”) an aggregate of 37,500 units (“Units”)
of the Company (regardless of whether the underwriters’ over-allotment option is exercised in full), each Unit comprised of one
share of Class A common stock of the Company, par value $0.0001 per share (“Common Shares”), and one-half of one
warrant to purchase one share of Class A common stock (“Warrant”), for a purchase price of $375,000 (regardless
of whether the underwriters’ over-allotment option is exercised in full), or $10.00 per Unit. The Common Shares underlying the Warrants
are hereinafter referred to as the “Warrant Shares.” The Common Shares underlying the Units (excluding the Warrant
Shares) are hereinafter referred to as the “Placement Shares.” The Warrants underlying the Units are hereinafter referred
to as the “Placement Warrants.” The Units, Placement Shares, Placement Warrants and Warrant Shares, collectively, are
hereinafter referred to as the “Securities.” Placement Warrants may be exercised only to the extent that, when aggregated
with other Placement Warrants being exercised, the exercise is for a whole share or whole shares; no fractional shares shall be issuable.
The exercise price for any Warrant Share shall be $11.50. Subject to the foregoing, the Placement Warrants are exercisable during the
period commencing on the later of (i) twelve (12) months from the date of the completion of the Company’s initial public
offering of units (the “IPO”) and (ii) 30 days following the consummation of the Company’s initial
business combination (the “Business Combination”), as such term is defined in the registration statement filed in connection
with the IPO, as amended at the time it becomes effective (the “Registration Statement”), and expiring on the fifth
anniversary of the commencement of sales in the IPO; and

 

WHEREAS, the Subscriber wishes
to purchase the Units from the Company and the Company wishes to accept such subscription from the Subscriber.

 

NOW, THEREFORE, in consideration
of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and the Subscriber hereby agree as follows:

 

1.
Agreement to Subscribe

 

1.1             
Purchase and Issuance of the Units. Upon the terms and subject to the conditions of this Agreement, the Subscriber
hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Subscriber, on the Closing Date (as defined below),
37,500 Units at a price of $10.00 per Unit for an aggregate purchase price of $375,000 (the “Purchase Price”). The
Purchase Price shall be paid by wire transfer of immediately available funds to the Company in accordance with the Company’s wiring
instructions at least one business day prior to the date of effectiveness of the registration statement to be filed in connection with
the IPO. On the Closing Date, the Company, shall either, at its option, deliver a certificate evidencing the Units purchased by the Subscriber
on such date duly registered in the Subscriber’s name to the Subscriber, or effect such delivery in book-entry form. 

 

     

     

    

 

1.2             
Termination. This Agreement and each of the obligations of the undersigned shall be null and void and without
effect if the Closing does not occur prior to [______], 2022.

 

2.
Representations and Warranties of the Subscriber

 

The Subscriber represents
and warrants to the Company that:

 

2.1             
No Government Recommendation or Approval. The Subscriber understands that no federal or state agency
has passed upon or made any recommendation or endorsement of the Company or the Offering of the Securities.

 

2.2             
Accredited Investor. The Subscriber represents that it is an “accredited investor” as such term is
defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and
acknowledges that the sale contemplated hereby is being made in reliance, among other things, on a private placement exemption to “accredited
investors” under the Securities Act and similar exemptions under state law.

 

2.3             
Intent. The Subscriber is purchasing the Securities solely for investment purposes, for such Subscriber’s
own account (and/or for the account or benefit of its members or affiliates, as permitted, pursuant to the terms hereof), and not with
a view to the distribution thereof and Subscriber has no present arrangement to sell the Securities to or through any person or entity
except as may be permitted hereunder. Subscriber shall not engage in hedging transactions with regard to the Securities unless in compliance
with the Securities Act.

 

2.4             
Restrictions on Transfer. The Subscriber acknowledges and understands the Units are being offered in a transaction
not involving a public offering in the United States within the meaning of the Securities Act. The Securities have not been registered
under the Securities Act and, if in the future the Subscriber decides to offer, resell, pledge or otherwise transfer the Securities, such
Securities may be offered, resold, pledged or otherwise transferred only (A) pursuant to an effective registration statement filed
under the Securities Act, (B) pursuant to an exemption from registration under Rule 144 promulgated under the Securities Act,
if available, or (C) pursuant to any other available exemption from the registration requirements of the Securities Act, and in each
case in accordance with any applicable securities laws of any state or any other jurisdiction. Notwithstanding the foregoing, the Subscriber
acknowledges and understands the Securities are subject to transfer restrictions as described in Section 7 hereof. The Subscriber
agrees that, if any transfer of its Securities or any interest therein is proposed to be made, as a condition precedent to any such transfer
the Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company with respect to such transfer.
Absent registration or another available exemption from registration, the Subscriber agrees it will not transfer the Securities (unless
otherwise permitted pursuant to the terms hereunder, as described in the Registration Statement). The Subscriber further acknowledges
that because the Company is a shell company, Rule 144 may not be available to the Subscriber for the resale of the Securities until
the one year anniversary following consummation of the Business Combination, despite technical compliance with the requirements of Rule 144
and the release or waiver of any contractual transfer restrictions.

 

     

     

    

 

2.5             
Sophisticated Investor.

 

(i)                
The Subscriber is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Securities.

 

(ii)               
The Subscriber is aware that an investment in the Securities is highly speculative and subject to substantial risks because, among
other things, (a) the Securities are subject to transfer restrictions and have not been registered under the Securities Act and therefore
cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available and (b) the
Subscriber has waived its redemption rights with respect to the Securities as set forth in Section 6 hereof, and the Securities held
by the Subscriber are not entitled to, and have no right, interest or claim to any monies held in the Trust Account, and accordingly
the Subscriber may suffer a loss of a portion or all of its investment in the Securities. The Subscriber is able to bear the economic
risk of its investment in the Securities for an indefinite period of time.

 

2.6             
Independent Investigation. The Subscriber, in making the decision to purchase the Units, has relied upon an independent
investigation of the Company and has not relied upon any information or representations made by any third parties or upon any oral or
written representations or assurances from the Company, its officers, directors or employees or any other representatives or agents of
the Company, other than as set forth in this Agreement. The Subscriber is familiar with the business, operations and financial condition
of the Company and has had an opportunity to ask questions of, and receive answers from the Company’s officers and directors concerning
the Company and the terms and conditions of the Offering and has had full access to such other information concerning the Company as the
Subscriber has requested. The Subscriber confirms that all documents that it has requested have been made available and that the Subscriber
has been supplied with all of the additional information concerning this investment which the Subscriber has requested.

 

2.7             
Organization and Authority. The Subscriber is duly organized, validly existing and in good standing under the
laws of the State of New York and it possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement.

 

2.8             
Authority. This Agreement has been validly authorized, executed and delivered by the Subscriber and is a valid
and binding agreement enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, fraudulent conveyance, moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of,
creditors’ rights and remedies or by equitable principles of general application and except as enforcement of rights to indemnity
and contribution may be limited by federal and state securities laws or principles of public policy.

 

2.9             
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber
of the transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the Subscriber’s charter
documents, (ii) any agreement or instrument to which the Subscriber is a party or (iii) any law, statute, rule or regulation
to which the Subscriber is subject, or any agreement, order, judgment or decree to which the Subscriber is subject, except as would not
be material to the Subscriber’s performance of its obligations hereunder.

 

     

     

    

 

2.10         
No Legal Advice from Company. The Subscriber acknowledges it has had the opportunity to review this Agreement
and the transactions contemplated by this Agreement and the other agreements entered into between the parties hereto with the Subscriber’s
own legal counsel and investment and tax advisors. Except for any statements or representations of the Company made in this Agreement
and the other agreements entered into between the parties hereto, the Subscriber is relying solely on such review, counsel and advisors
and not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice
with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

 

2.11         
Reliance on Representations and Warranties. The Subscriber understands the Units are being offered and sold to
the Subscriber in reliance on exemptions from the registration requirements under the Securities Act, and analogous provisions in the
laws and regulations of various states, and that the Company is relying upon the truth and accuracy of the representations, warranties,
agreements, acknowledgments and understandings of the Subscriber set forth in this Agreement in order to determine the applicability of
such provisions.

 

2.12         
No General Solicitation. The Subscriber is not subscribing for the Units as a result of or subsequent to
any general solicitation or general advertising, including but not limited to any advertisement, article, notice or other communication
published in any newspaper, magazine, or similar media or broadcast over television or radio, or presented at any seminar or meeting or
in a registration statement with respect to the IPO filed with the Securities and Exchange Commission (“SEC”).

 

2.13         
Legend. The Subscriber acknowledges and agrees the certificates evidencing each of the Securities shall bear
a restrictive legend (the “Legend”), in form and substance substantially as set forth in Section 4 hereof.

 

3.
Representations, Warranties and Covenants of the Company

 

The Company represents and
warrants to, and agrees with, the Subscriber that:

 

3.1             
Valid Issuance of Capital Stock. The total number of shares of all classes of common stock and preferred stock
which the Company has authority to issue is 130,000,000 shares of common stock and 1,000,000 shares of preferred stock (“Preferred
Shares”). As of the date hereof, the Company has issued and outstanding 7,528,875 shares of Class B common stock shares
(of which up to 956,250 shares are subject to forfeiture) and no Preferred Shares. All of the issued common stock of the Company
have been duly authorized, validly issued, and are fully paid and non-assessable.

 

     

     

    

 

3.2             
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant
Agreement to be entered into by the Company and a warrant agent on the Closing Date in connection with the IPO and filed as an exhibit
to the S-1 (the “Warrant Agreement”), as the case may be, each of the Units, Placement Shares, Placement Warrants and
the Warrant Shares will be duly and validly issued, fully paid and non-assessable. On the date of issuance of the Units, the Warrant Shares
shall have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement,
as the case may be, the Subscriber will have or receive good title to the Units, Placement Shares and Placement Warrants, free and clear
of all liens, claims and encumbrances of any kind resulting from actions of, or any failure to act by, the Company, other than (i) transfer
restrictions hereunder and (ii) transfer restrictions under federal and state securities laws.

 

3.3             
Organization and Qualification. The Company is a corporation duly incorporated, validly existing and in good
standing under the laws of the State of Delaware and has the requisite corporate power to own its properties and assets and to carry on
its business as now being conducted.

 

3.4             
Authorization; Enforcement. (i) The Company has the requisite corporate power and authority to enter
into and perform its obligations under this Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution,
delivery and performance of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been
duly authorized by all necessary corporate action, and no further consent or authorization of the Company or its Board of Directors
or stockholders is required, and (iii) this Agreement constitutes a valid and binding obligation of the Company enforceable against
the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent
conveyance, moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’ rights
and remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution may be
limited by federal and state securities laws or principles of public policy.

 

3.5             
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company
of the transactions contemplated hereby do not (i) result in a violation of the Company’s certificate of incorporation or by-laws,
(ii) conflict with, or constitute a default under any agreement or instrument to which the Company is a party or by which it is bound
or (iii) violate any law statute, rule or regulation to which the Company is subject or any agreement, order, judgment or decree
to which the Company is subject. Other than any SEC or state securities filings which may be required to be made by the Company subsequent
to the Closing, and any registration statement which may be filed pursuant thereto, the Company is not required under federal, state or
local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court
or governmental agency or self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the Units,
Placement Shares, Placement Warrants or the Warrant Shares in accordance with the terms hereof.

 

     

     

    

 

4.
Legends

 

4.1             
Legend. The Company will issue the Units, Placement Shares and Placement Warrants, and, when issued, the Warrant
Shares, purchased by the Subscriber in the name of the Subscriber. The Securities will bear the following Legend and appropriate “stop
transfer” instructions:

 

“THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES
LAWS AND NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.”

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE
ARE SUBJECT TO RESTRICTIONS ON TRANSFER PURSUANT TO A UNIT SUBSCRIPTION AGREEMENT BETWEEN PAPAYA GROWTH OPPORTUNITY CORP. I AND J.V.B.
FINANCIAL GROUP, LLC ON BEHALF OF ITS COHEN & COMPANY CAPITAL MARKETS DIVISION AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED
OR OTHERWISE DISPOSED OF DURING THE TERM THEREOF PURSUANT TO THE TERMS SET FORTH IN THE UNIT SUBSCRIPTION AGREEMENT.”

 

4.2             
Subscriber’s Compliance. Nothing in this Section 4 shall affect in any way the Subscriber’s
obligations and agreements to comply with all applicable securities laws upon resale of the Securities.

 

4.3             
Company’s Refusal to Register Transfer of the Securities. The Company shall refuse to register any transfer
of the Securities if, in the sole judgment of the Company, such purported transfer would not be made (i) pursuant to an effective
registration statement filed under the Securities Act, or (ii) pursuant to an available exemption from the registration requirements
of the Securities Act and applicable state securities laws and (iii) in compliance herewith.

 

4.4             
Registration Rights. The Subscriber will be entitled to certain registration rights which will be governed by
a registration rights agreement (“Registration Rights Agreement”) to be entered into between, among others, the Subscriber
and the Company, on or prior to the effective date of the Registration Statement.

 

5.
Termination of Placement Warrants.

 

5.1             
Failure to Consummate Business Combination. The Placement Warrants shall be terminated upon the dissolution of
the Company or in the event that the Company does not consummate the Business Combination within 15 months from the completion of
the IPO, which is extendable at the option of the Sponsor to up to 21 months from the completion of the Company’s initial public
offering in accordance with the terms provided for in the Registration Statement.

 

5.2             
Termination of Rights as Holder. If the Placement Warrants are terminated in accordance with Section 5.1,
then after such time, the Subscriber (or its successor in interest) shall no longer have any rights as a holder of such Placement
Warrants and the Company shall take such action as is appropriate to cancel such Placement Warrants. The Subscriber hereby irrevocably
grants the Company a limited power of attorney for the purpose of effectuating the foregoing and agrees to take any and all measures reasonably
requested by the Company necessary to effect the foregoing.

 

     

     

    

 

6.
Waiver of Liquidation Distributions.

 

6.1             
In connection with the Securities purchased pursuant to this Agreement, the Subscriber hereby waives any and all right,
title, interest or claim of any kind in or to any distributions with respect to the Securities in connection with (i) the exercise
of redemption rights in connection with the Company’s consummation of the Business Combination, or (ii) upon the Company’s
redemption of Common Shares upon the Company’s failure to consummate the Business Combination within 15 months, which is extendable
at the option of Papaya Growth Opportunity I Sponsor, LLC, the Company’s sponsor (the “Sponsor”), to up to 21
months from the completion of the Company’s initial public offering in accordance with the terms provided for in the Registration
Statement, or the liquidation of the Company prior to the expiration of such 15 month period, which may be extended to up to 21 months
from the completion of the Company’s initial public offering at the option of the Sponsor in accordance with the terms provided
for in the Registration Statement; provided that nothing herein shall preclude Subscriber from (i) making any claim or seeking recourse
against the funds held outside of the Trust Account, (ii) asserting any rights, including any right to redemption, that the Subscriber
may have with respect to any Units or Common Shares purchased by the Subscriber in the IPO or in the aftermarket upon the same terms offered
to all other purchasers of Units in the IPO or Units or Common Shares in the aftermarket in the event that the Company fails to consummate
its Business Combination, (iii) seeking payment of any deferred underwriting fee due and payable pursuant to the underwriting agreement
for the IPO or (iv) otherwise seeking to enforce the terms or any of the provisions of the underwriting agreement.

 

6.2             
The Subscriber acknowledges and agrees that the stockholders of the Company are and shall be third-party beneficiaries
of this Section 6.

 

6.3             
The Subscriber agrees that, to the extent any provision of this Section 6 is ineffective as a matter of law, Subscriber
has agreed to such provision for the benefit of the Company as an equitable right that shall survive any statutory disqualification or
bar that applies to a legal right. The Subscriber acknowledges the receipt and sufficiency of consideration received from the Company
hereunder in this regard.

 

7.
Lock-Up Period

 

7.1             
The Subscriber agrees that it shall not Transfer any Securities until 30 days following the Business Combination; provided,
however, that Transfers of Securities are permitted (a) to the Company’s officers or directors, the Initial Stockholders, Cantor,
CCM, or Cantor or CCM’s officers, directors or direct or indirect equityholders, (b) to an affiliate or immediate family member
of any of the Company’s officers, directors, initial stockholders or Cantor or CCM, (c) to any member, officer or director
of the Sponsor, or any immediate family member, partner, affiliate or employee of a member of the Sponsor, (d) by gift to any permitted
transferee under any of the immediately preceding subsections (a) through (c), a trust, the beneficiaries of which are one or more
permitted transferees under any of the immediately preceding subsections (a) through (c), or a charitable organization, (e) by
virtue of laws of descent and distribution upon death of any of the Company’s officers or directors, the initial stockholders, or
members of the Sponsor, or any officers, directors or direct or indirect equityholders of Cantor or CCM, (f) pursuant to a qualified
domestic relations order, (g) in the event of the Company’s liquidation prior to consummation of its initial business combination,
(h) by virtue of the laws of Delaware, the Sponsor’s limited liability company agreement upon dissolution of the Sponsor, the
organizational documents of Cantor upon dissolution of Cantor or the organizational documents of CCM upon the dissolution of CCM, (i) subsequent
to the initial Business Combination, upon and in connection with a liquidation, merger, stock exchange or other similar transaction which
results in all of our stockholders having the right to exchange their common stock for cash, securities or other property, (j) subsequent
to the initial Business Combination, in the event of a consolidation merger, stock exchange or similar transaction in which the company
is the surviving entity that results in a change in the majority of the Company’s board of directors or management team and (k) through
private sales or transfers made in connection with any forward purchase agreement or similar arrangement or in connection with the consummation
of the Company’s initial Business Combination at prices no greater than the price at which the Founder Shares, Placement Shares
or Warrants were originally purchased; provided, however, that in the case of clauses (a) through (f), (h) and (k) these permitted
transferees must enter into a written agreement agreeing to be bound by these transfer restrictions.

 

     

     

    

 

7.2             
For purposes of Section 7.1, the term “Transfer” shall mean the (a) sale of, offer to sell, contract
or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly
or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent
position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations
of the SEC promulgated thereunder with respect to, any of the Securities, (b) entry into any swap or other arrangement that transfers
to another, in whole or in part, any of the economic consequences of ownership of any of the Securities, whether any such transaction
is to be settled by delivery of such Securities, in cash or otherwise, or (c) public announcement of any intention to effect any
transaction specified in clause (a) or (b).

 

7.3             
In addition to the restrictions on transfer described in Section 7.1, the Subscriber acknowledges and agrees that
the Units and their component parts and the related registration rights will be deemed compensation by the Financial Industry Regulatory
Authority (“FINRA”) and will therefore, pursuant to FINRA Rule 5110(e)(1), be subject to lock-up for 180 days
from the commencement of sales in the IPO. Additionally, the Units and their component parts and the related registration rights may not
be sold, transferred, assigned, pledged or hypothecated or be the subject of any hedging, short sale, derivative, put or call transaction
that would result in the economic disposition of the Securities by any person for a period of 180 days immediately following the
commencement of sales in the IPO, except to any FINRA member participating in the IPO and the bona fide officers or partners, registered
persons or affiliates of such participating FINRA member so long as the securities remain subject to the lock-up for the remainder of
the period.

 

8.
Terms of the Units and Placement Warrant

 

The Units and their component parts are substantially
identical to the units to be offered in the IPO except that: (i) the Units and their component parts will be subject to transfer
restrictions, except in limited circumstances, until 30 days following the consummation of the Business Combination, (ii) the
Placement Warrants will be non-redeemable, and will be exercisable on a “cashless” basis if held by the Subscriber or its
permitted transferees and will expire on the fifth anniversary of the commencement of sales in the IPO and (iii) the Units and their
component parts are being purchased pursuant to an exemption from the registration requirements of the Securities Act and will become
freely tradable only after they are registered or an exemption from registration is available, and the restrictions described above in
clause (i) have expired. The Units and the Placement Warrants will not be fungible with the public units and the public warrants
(each as defined in the Registration Statement), and, once registered, will trade separately. 

 

     

     

    

 

9.
Governing Law; Jurisdiction; Waiver of Jury Trial

 

This Agreement shall be governed
by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed within such state
without regard to conflicts of laws provisions. The parties hereto hereby waive any right to a jury trial in connection with any litigation
pursuant to this Agreement and the transactions contemplated hereby.

 

10.
Assignment; Entire Agreement; Amendment

 

10.1         
Assignment. Neither this Agreement nor any rights hereunder may be assigned by any party to any other person
other than by the Subscriber to a person agreeing to be bound by the terms hereof, including the waiver contained in Section 7 hereof.

 

10.2         
Entire Agreement. This Agreement sets forth the entire agreement and understanding between the parties as to
the subject matter hereof and merges and supersedes all prior discussions, agreements and understandings of any and every nature among
them.

 

10.3         
Amendment. Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be
amended, waived, discharged or terminated other than by a written instrument signed by the party against whom enforcement of any such
amendment, waiver, discharge or termination is sought.

 

10.4         
Binding upon Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto
and to their respective heirs, legal representatives, successors and permitted assigns.

 

11.
Notices

 

11.1         
Notices. Unless otherwise provided herein, any notice or other communication to a party hereunder shall be sufficiently
given if in writing and personally delivered or sent by facsimile or other electronic transmission with copy sent in another manner herein
provided or sent by courier (which for all purposes of this Agreement shall include Federal Express or other recognized overnight courier)
or mailed to said party by certified mail, return receipt requested, at its address provided for herein or such other address as either
may designate for itself in such notice to the other. Communications shall be deemed to have been received when delivered personally,
on the scheduled arrival date when sent by next day or 2nd-day courier service, or if sent by facsimile upon receipt of confirmation of
transmittal or, if sent by mail, then three days after deposit in the mail. If given by electronic transmission, such notice shall be
deemed to be delivered (a) if by electronic mail, when directed to an electronic mail address at which the stockholder has consented
to receive notice; (b) if by a posting on an electronic network together with separate notice to the stockholder of such specific
posting, upon the later of (1) such posting and (2) the giving of such separate notice; and (c) if by any other form of
electronic transmission, when directed to the stockholder.

 

     

     

    

 

12.
Counterparts

 

This Agreement may be executed
in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign
the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “pdf”
format data file, 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 facsimile or “.pdf” signature page were an original thereof.

 

13.
Survival; Severability

 

13.1         
Survival. The representations, warranties, covenants and agreements of the parties hereto shall survive the Closing.

 

13.2         
Severability. In the event that any provision of this Agreement becomes or is declared by a court of competent
jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided
that no such severability shall be effective if it materially changes the economic benefit of this Agreement to any party.

 

14.
Headings.

 

The titles and subtitles used
in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

[Remainder of page intentionally left blank]

 

     

     

    

 

Accepted and agreed on the
date set forth above.

 

	 	PAPAYA GROWTH OPPORTUNITY CORP. I
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Accepted and agreed on the
date set forth above.

 

	 	SUBSCRIBER:
	 	 
	 	J.V.B. FINANCIAL GROUP, LLC
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:Exhibit 10.1

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED
FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM,
THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA
FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

	Principal Amount: $50,000.00	Issue Date: December 30, 2021

Purchase
Price: $50,000.00 

 

CONVERTIBLE
PROMISSORY NOTE

 

FOR
VALUE RECEIVED, CYBER APPS WORLD INC., a Nevada corporation (hereinafter called the “Borrower”), hereby promises
to pay to the order of SIXTH STREET LENDING LLC, a Virginia limited liability company, or registered assigns (the “Holder”)
the sum of $50,000.00 together with any interest as set forth herein, on December 30, 2022 (the “Maturity Date”), and to
pay interest on the unpaid principal balance hereof at the rate of ten percent (10%) (the “Interest Rate”) per annum from
the date hereof (the “Issue Date”) until the same becomes due and payable, whether at maturity or upon acceleration or by
prepayment or otherwise. This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein. Any amount
of principal or interest on this Note which is not paid when due shall bear interest at the rate of twenty two percent (22%) per annum
from the due date thereof until the same is paid (“Default Interest”). Interest shall be computed on the basis of a 365 day
year and the actual number of days elapsed. Interest shall commence accruing on the Issue Date. All payments due hereunder (to the extent
not converted into common stock, $0.00075 par value per share (the “Common Stock”) in accordance with the terms hereof) shall
be made in lawful money of the United States of America. All payments shall be made at such address as the Holder shall hereafter give
to the Borrower by written notice made in accordance with the provisions of this Note. Each capitalized term used herein, and not otherwise
defined, shall have the meaning ascribed thereto in that certain Securities Purchase Agreement dated the date hereof, pursuant to which
this Note was originally issued (the “Purchase Agreement”).

 

This
Note is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive
rights or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.

 

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The
following terms shall apply to this Note:

 

ARTICLE
I. CONVERSION RIGHTS

 

1.1 Conversion
Right. The Holder shall have the right from time to time, and at any time during the period beginning on the date which is one
hundred eighty (180) days following the date of the funding of this Note (the “Funding Date”)and ending on the later of:
(i) the Maturity Date and (ii) the date of payment of the Default Amount (as defined in Article III), each in respect of the
remaining outstanding amount of this Note to convert all or any part of the outstanding and unpaid amount of this Note into fully
paid and non-assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or
other securities of the Borrower into which such Common Stock shall hereafter be changed or reclassified at the conversion price
(the “Conversion Price”) determined as provided herein (a “Conversion”); provided, however,
that in no event shall the Holder be entitled to convert any portion of this Note in excess of that portion of this Note upon
conversion of which the sum of (1) the number of shares of Common Stock beneficially owned by the Holder and its affiliates (other
than shares of Common Stock which may be deemed beneficially owned through the ownership of the unconverted portion of the Notes or
the unexercised or unconverted portion of any other security of the Borrower subject to a limitation on conversion or exercise
analogous to the limitations contained herein) and (2) the number of shares of Common Stock issuable upon the conversion of the
portion of this Note with respect to which the determination of this proviso is being made, would result in beneficial ownership by
the Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock. For purposes of the proviso to the
immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), and Regulations 13D-G thereunder, except as otherwise provided in clause
(1) of such proviso. The beneficial ownership limitations on conversion as set forth in the section may NOT be waived by the
Holder. The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing the
Conversion Amount (as defined below) by the applicable Conversion Price then in effect on the date specified in the notice of
conversion, in the form attached hereto as Exhibit A (the “Notice of Conversion”), delivered to the Borrower by the
Holder in accordance with Section 1.4 below; provided that the Notice of Conversion is submitted by facsimile or e-mail (or by other
means resulting in, or reasonably expected to result in, notice) to the Borrower before 6:00 p.m., New York, New York time on such
conversion date (the “Conversion Date”); however, if the Notice of Conversion is sent after 6:00pm, New York, New York
time the Conversion Date shall be the next business day. The term “Conversion Amount” means, with respect to any
conversion of this Note, the sum of (1) the principal amount of this Note to be converted in such conversion plus (2) at the
Holder’s option, accrued and unpaid interest, if any, on such principal amount at the interest rates provided in this Note to
the Conversion Date, plus (3) at the Holder’s option, Default Interest, if any, on the amounts referred to in the
immediately preceding clauses (1) and/or (2) plus (4) at the Holder’s option, any amounts owed to the Holder pursuant
to Sections 1.4 hereof.

 

1.2
Conversion Price. The conversion price (the “Conversion Price”) shall equal the Variable Conversion Price (as defined
herein) (subject to equitable adjustments by the Borrower relating to the Borrower’s securities or the securities of any subsidiary
of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events). The “Variable
Conversion Price” shall mean 61% multiplied by the Market Price (as defined herein) (representing a discount rate of 39%). “Market
Price” means the lowest Trading Price (as defined below) for the Common Stock during the twenty (20) Trading Day period ending
on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date,
the closing bid price on the OTCQB, OTCQX, Pink Sheets electronic quotation system or applicable trading market (the “OTC”)
as reported by a reliable reporting service (“Reporting Service”) designated by the Holder (i.e. Bloomberg) or, if the OTC
is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or
trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing
manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets”.
If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the
fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which
the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading Day”
shall mean any day on which the Common Stock is tradable for any period on the OTC, or on the principal securities exchange or other
securities market on which the Common Stock is then being traded.

 

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1.3
Authorized Shares. The Borrower covenants that during the period the conversion right exists, the Borrower will reserve from its
authorized and unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for the issuance of Common
Stock upon the full conversion of this Note issued pursuant to the Purchase Agreement. The Borrower is required at all times to have
authorized and reserved eight times the number of shares that is actually issuable upon full conversion of the Note (based on the Conversion
Price of the Note in effect from time to time initially 69,025,021 shares)(the “Reserved Amount”). The Reserved Amount shall
be increased from time to time in accordance with the Borrower’s obligations hereunder. The Borrower represents that upon issuance,
such shares will be duly and validly issued, fully paid and non-assessable. In addition, if the Borrower shall issue any securities or
make any change to its capital structure which would change the number of shares of Common Stock into which the Notes shall be convertible
at the then current Conversion Price, the Borrower shall at the same time make proper provision so that thereafter there shall be a sufficient
number of shares of Common Stock authorized and reserved, free from preemptive rights, for conversion of the outstanding Note. The Borrower
(i) acknowledges that it has irrevocably instructed its transfer agent to issue certificates for the Common Stock issuable upon conversion
of this Note, and (ii) agrees that its issuance of this Note shall constitute full authority to its officers and agents who are charged
with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Common Stock in accordance
with the terms and conditions of this Note.

 

If, at any time the Borrower does not maintain the Reserved Amount it will be considered
an Event of Default under Section 3.2 of the Note.

 

1.4
Method of Conversion.

 

(a) Mechanics of
Conversion. As set forth in Section 1.1 hereof, from time to time,
and at any time during the period beginning on the date which is one hundred eighty (180) days following the Funding Date and ending
on the later of: (i) the Maturity Date and (ii) the date of payment of the Default Amount, this Note may be converted by the Holder
in whole or in part at any time from time to time after the Issue Date, by (A) submitting to the Borrower a Notice of Conversion (by
facsimile, e-mail or other reasonable means of communication dispatched on the Conversion Date prior to 6:00 p.m., New York, New
York time) and (B) subject to Section 1.4(b), surrendering this Note at the principal office of the Borrower (upon payment in full
of any amounts owed hereunder).

 

(b)
Surrender of Note Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note in
accordance with the terms hereof, the Holder shall not be required to physically surrender this Note to the Borrower unless the entire
unpaid principal amount of this Note is so converted. The Holder and the Borrower shall maintain records showing the principal amount
so converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Borrower,
so as not to require physical surrender of this Note upon each such conversion.

 

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(c)
Delivery of Common Stock Upon Conversion. Upon receipt by the Borrower from the Holder of a facsimile transmission or e-mail (or
other reasonable means of communication) of a Notice of Conversion meeting the requirements for conversion as provided in this Section
1.4, the Borrower shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder certificates for the
Common Stock issuable upon such conversion within three (3) business days after such receipt (the “Deadline”) (and, solely
in the case of conversion of the entire unpaid principal amount hereof, surrender of this Note) in accordance with the terms hereof and
the Purchase Agreement. Upon receipt by the Borrower of a Notice of Conversion, the Holder shall be deemed to be the holder of record
of the Common Stock issuable upon such conversion, the outstanding principal amount and the amount of accrued and unpaid interest on
this Note shall be reduced to reflect such conversion, and, unless the Borrower defaults on its obligations hereunder, all rights with
respect to the portion of this Note being so converted shall forthwith terminate except the right to receive the Common Stock or other
securities, cash or other assets, as herein provided, on such conversion. If the Holder shall have given a Notice of Conversion as provided
herein, the Borrower’s obligation to issue and deliver the certificates for Common Stock shall be absolute and unconditional, irrespective
of the absence of any action by the Holder to enforce the same, any waiver or consent with respect to any provision thereof, the recovery
of any judgment against any person or any action to enforce the same, any failure or delay in the enforcement of any other obligation
of the Borrower to the holder of record, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged
breach by the Holder of any obligation to the Borrower, and irrespective of any other circumstance which might otherwise limit such obligation
of the Borrower to the Holder in connection with such conversion.

 

(d)
Delivery of Common Stock by Electronic Transfer. In lieu of delivering physical certificates representing the Common Stock issuable
upon conversion, provided the Borrower is participating in the Depository Trust Company (“DTC”) Fast Automated Securities
Transfer (“FAST”) program, upon request of the Holder and its compliance with the provisions set forth herein, the Borrower
shall use its best efforts to cause its transfer agent to electronically transmit the Common Stock issuable upon conversion to the Holder
by crediting the account of Holder’s Prime Broker with DTC through its Deposit and Withdrawal at Custodian (“DWAC”)
system.

 

(e)
Failure to Deliver Common Stock Prior to Deadline. Without in any way limiting the Holder’s right to pursue other remedies,
including actual damages and/or equitable relief, the parties agree that if delivery of the Common Stock issuable upon conversion of
this Note is not delivered by the Deadline due to action and/or inaction of the Borrower, the Borrower shall pay to the Holder $2,000
per day in cash, for each day beyond the Deadline that the Borrower fails to deliver such Common Stock (the “Fail to Deliver Fee”);
provided; however that the Fail to Deliver Fee shall not be due if the failure is a result of a third party (i.e., transfer agent; and
not the result of any failure to pay such transfer agent) despite the best efforts of the Borrower to effect delivery of such Common
Stock. Such cash amount shall be paid to Holder by the fifth day of the month following the month in which it has accrued or, at the
option of the Holder (by written notice to the Borrower by the first day of the month following the month in which it has accrued), shall
be added to the principal amount of this Note, in which event interest shall accrue thereon in accordance with the terms of this Note
and such additional principal amount shall be convertible into Common Stock in accordance with the terms of this Note. The Borrower agrees
that the right to convert is a valuable right to the Holder. The damages resulting from a failure, attempt to frustrate, interference
with such conversion right are difficult if not impossible to qualify. Accordingly, the parties acknowledge that the liquidated damages
provision contained in this Section 1. 4(e) are justified.

 

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1.5 Concerning
the Shares. The shares of Common Stock issuable upon conversion of this Note may not be sold or transferred unless: (i) such
shares are sold pursuant to an effective registration statement under the Act or (ii) the Borrower or its transfer agent shall have
been furnished with an opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of counsel in
comparable transactions) to the effect that the shares to be sold or transferred may be sold or transferred pursuant to an exemption
from such registration (such as Rule 144 or a successor rule) (“Rule 144”); or (iii) such shares are transferred to an
“affiliate” (as defined in Rule 144) of the Borrower who agrees to sell or otherwise transfer the shares only in
accordance with this Section 1.5 and who is an Accredited Investor (as defined in the Purchase Agreement).

 

Any
restrictive legend on certificates representing shares of Common Stock issuable upon conversion of this Note shall be removed and the
Borrower shall issue to the Holder a new certificate therefore free of any transfer legend if the Borrower or its transfer agent shall
have received an opinion of counsel from Holder’s counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that (i) a public sale or transfer of such Common Stock may be made without registration under the Act, which
opinion shall be accepted by the Company so that the sale or transfer is effected; or (ii) in the case of the Common Stock issuable upon
conversion of this Note, such security is registered for sale by the Holder under an effective registration statement filed under the
Act; or otherwise may be sold pursuant to an exemption from registration. In the event that the Company does not reasonably accept the
opinion of counsel provided by the Holder with respect to the transfer of Securities pursuant to an exemption from registration (such
as Rule 144), at the Deadline, it will be considered an Event of Default pursuant to Section 3.2 of the Note.

 

1.6
Effect of Certain Events.

 

(a) Effect
of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially all of
the assets of the Borrower, the effectuation by the Borrower of a transaction or series of related transactions in which more than
50% of the voting power of the Borrower is disposed of, or the consolidation, merger or other business combination of the Borrower
with or into any other Person (as defined below) or Persons when the Borrower is not the survivor shall be deemed to be an Event of
Default (as defined in Article III) pursuant to which the Borrower shall be required to pay to the Holder upon the consummation of
and as a condition to such transaction an amount equal to the Default Amount (as defined in Article III). “Person” shall
mean any individual, corporation, limited liability company, partnership, association, trust or other entity or
organization.

 

(b)
Adjustment Due to Merger, Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to conversion
of all of the Note, there shall be any merger, consolidation, exchange of shares, recapitalization, reorganization, or other similar
event, as a result of which shares of Common Stock of the Borrower shall be changed into the same or a different number of shares of
another class or classes of stock or securities of the Borrower or another entity, or in case of any sale or conveyance of all or substantially
all of the assets of the Borrower other than in connection with a plan of complete liquidation of the Borrower, then the Holder of this
Note shall thereafter have the right to receive upon conversion of this Note, upon the basis and upon the terms and conditions specified
herein and in lieu of the shares of Common Stock immediately theretofore issuable upon conversion, such stock, securities or assets which
the Holder would have been entitled to receive in such transaction had this Note been converted in full immediately prior to such transaction
(without regard to any limitations on conversion set forth herein), and in any such case appropriate provisions shall be made with respect
to the rights and interests of the Holder of this Note to the end that the provisions hereof (including, without limitation, provisions
for adjustment of the Conversion Price and of the number of shares issuable upon conversion of the Note) shall thereafter be applicable,
as nearly as may be practicable in relation to any securities or assets thereafter deliverable upon the conversion hereof. The Borrower
shall not affect any transaction described in this Section 1.6(b) unless (a) it first gives, to the extent practicable, ten (10) days
prior written notice (but in any event at least five (5) days prior written notice) of the record date of the special meeting of shareholders
to approve, or if there is no such record date, the consummation of, such merger, consolidation, exchange of shares, recapitalization,
reorganization or other similar event or sale of assets (during which time the Holder shall be entitled to convert this Note) and (b)
the resulting successor or acquiring entity (if not the Borrower) assumes by written instrument the obligations of this Note. The above
provisions shall similarly apply to successive consolidations, mergers, sales, transfers or share exchanges.

 

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(c) Adjustment
Due to Distribution. If the Borrower shall declare or make any distribution of its assets (or rights to acquire its assets) to
holders of Common Stock as a dividend, stock repurchase, by way of return of capital or otherwise (including any dividend or
distribution to the Borrower’s shareholders in cash or shares (or rights to acquire shares) of capital stock of a subsidiary
(i.e., a spin-off)) (a “Distribution”), then the Holder of this Note shall be entitled, upon any conversion of this Note
after the date of record for determining shareholders entitled to such Distribution, to receive the amount of such assets which
would have been payable to the Holder with respect to the shares of Common Stock issuable upon such conversion had such Holder been
the holder of such shares of Common Stock on the record date for the determination of shareholders entitled to such
Distribution.

 

1.7 Prepayment.
Notwithstanding anything to the contrary contained in this Note, at any time during the periods set forth on the table immediately
following this paragraph (the “Prepayment Periods”), the Borrower shall have the right, exercisable on not more than
three (3) Trading Days prior written notice to the Holder of the Note to prepay the outstanding Note (principal and accrued
interest), in full, in accordance with this Section 1.7. Any notice of prepayment hereunder (an “Optional Prepayment
Notice”) shall be delivered to the Holder of the Note pursuant to Section 4.2 hereof and shall state: (1) that the Borrower is
exercising its right to prepay the Note, and (2) the date of prepayment which shall be not more than three (3) Trading Days from the
date of the Optional Prepayment Notice. On the date fixed for prepayment (the “Optional Prepayment Date”), the Borrower
shall make payment of the Optional Prepayment Amount (as defined below) to Holder, or upon the direction of the Holder as specified
by the Holder in a writing to the Borrower (which shall direction to be sent to Borrower by the Holder at least one (1) business day
prior to the Optional Prepayment Date). If the Borrower exercises its right to prepay the Note, the Borrower shall make payment to
the Holder of an amount in cash equal to the percentage (“Prepayment Percentage”) as set forth in the table immediately
following this paragraph opposite the applicable Prepayment Period, multiplied by the sum of: (w) the then outstanding principal
amount of this Note plus (x) accrued and unpaid interest on the unpaid principal amount of this Note to the Optional
Prepayment Date plus (y) Default Interest, if any, on the amounts referred to in clauses (w) and (x) plus (z) any
amounts owed to the Holder pursuant to Section 1.4 hereof (the “Optional Prepayment Amount”).

 

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	Prepayment
    Period	Prepayment
    Percentage
	                   The
    period beginning on the Issue Date and ending on the date which is one hundred eighty (180) days following the Funding Date. 	130%
    

 

After
the expiration of one hundred eighty (180) days following the Funding Date, the Borrower shall have no right of prepayment.

 

ARTICLE
II. CERTAIN COVENANTS

 

2.1 Sale
of Assets. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s
written consent, sell, lease or otherwise dispose of any significant portion of its assets outside the ordinary course of business.
Any consent to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition.

 

ARTICLE
III. EVENTS OF DEFAULT

 

If
any of the following events of default (each, an “Event of Default”) shall occur:

 

3.1 Failure
to Pay Principal and Interest. The Borrower fails to pay the principal hereof or interest thereon when due on this Note, whether
at maturity or upon acceleration and such breach continues for a period of five (5) days after written notice from the
Holder.

 

3.2 Conversion
and the Shares. The Borrower fails to issue shares of Common Stock to the Holder (or announces or threatens in writing that it
will not honor its obligation to do so) upon exercise by the Holder of the conversion rights of the Holder in accordance with the
terms of this Note, fails to transfer or cause its transfer agent to transfer (issue) (electronically or in certificated form) any
certificate for shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when
required by this Note, the Borrower directs its transfer agent not to transfer or delays, impairs, and/or hinders its transfer agent
in transferring (or issuing) (electronically or in certificated form) any certificate for shares of Common Stock to be issued to the
Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, or fails to remove (or directs its
transfer agent not to remove or impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or to
withdraw any stop transfer instructions in respect thereof) on any certificate for any shares of Common Stock issued to the Holder
upon conversion of or otherwise pursuant to this Note as and when required by this Note (or makes any written announcement,
statement or threat that it does not intend to honor the obligations described in this paragraph) and any such failure shall
continue uncured (or any written announcement, statement or threat not to honor its obligations shall not be rescinded in writing)
for three (3) business days after the Holder shall have delivered a Notice of Conversion. It is an obligation of the Borrower to
remain current in its obligations to its transfer agent. It shall be an event of default of this Note, if a conversion of this Note
is delayed, hindered or frustrated due to a balance owed by the Borrower to its transfer agent. If at the option of the Holder, the
Holder advances any funds to the Borrower’s transfer agent in order to process a conversion, such advanced funds shall be paid
by the Borrower to the Holder within forty-eight (48) hours of a demand from the Holder.

 

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3.3 Breach
of Covenants. The Borrower breaches any material covenant or other material term or condition contained in this Note and any
collateral documents including but not limited to the Purchase Agreement and such breach continues for a period of twenty (20) days
after written notice thereof to the Borrower from the Holder.

 

3.4 Breach
of Representations and Warranties. Any representation or warranty of the Borrower made herein or in any agreement, statement or
certificate given in writing pursuant hereto or in connection herewith (including, without limitation, the Purchase Agreement),
shall be false or misleading in any material respect when made and the breach of which has (or with the passage of time will have) a
material adverse effect on the rights of the Holder with respect to this Note or the Purchase Agreement.

 

3.5 Receiver
or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors, or apply for
or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business, or such a
receiver or trustee shall otherwise be appointed.

 

3.6 Bankruptcy.
Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary, for relief under
any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any subsidiary of the
Borrower.

 

3.7
Delisting of Common Stock. The Borrower shall fail to maintain the listing of the Common Stock on at least one of the OTC (which
specifically includes the quotation platforms maintained by the OTC Markets Group) or an equivalent replacement exchange, the Nasdaq
National Market, the Nasdaq SmallCap Market, the New York Stock Exchange, or the American Stock Exchange.

 

3.8 Failure
to Comply with the Exchange Act. The Borrower shall fail to comply with the reporting requirements of the Exchange Act; and/or
the Borrower shall cease to be subject to the reporting requirements of the Exchange Act. The filing of a Form 15 is an immediate
Event of Default.

 

3.9
Liquidation. Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

3.10
Cessation of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its
debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going
concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

 

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3.11 Financial
Statement Restatement. The restatement of any financial statements filed by the Borrower with the SEC at any time after 180 days
after the Issuance Date for any date or period until this Note is no longer outstanding, if the result of such restatement would, by
comparison to the un-restated financial statement, have constituted a material adverse effect on the rights of the Holder with
respect to this Note or the Purchase Agreement.

 

3.12 Replacement
of Transfer Agent. In the event that the Borrower proposes to replace its transfer agent, the Borrower fails to provide, prior
to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered
pursuant to the Purchase Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock in the
Reserved Amount) signed by the successor transfer agent to Borrower and the Borrower.

 

3.13 Cross-Default.
Notwithstanding anything to the contrary contained in this Note or the other related or companion documents, a breach or default by
the Borrower of any covenant or other term or condition contained in any of the Other Agreements, after the passage of all
applicable notice and cure or grace periods, shall, at the option of the Holder, be considered a default under this Note and the
Other Agreements, in which event the Holder shall be entitled (but in no event required) to apply all rights and remedies of the
Holder under the terms of this Note and the Other Agreements by reason of a default under said Other Agreement or hereunder.
“Other Agreements” means, collectively, all agreements and instruments between, among or by: (1) the Borrower, and, or
for the benefit of, (2) the Holder and any affiliate of the Holder, including, without limitation, promissory notes; provided,
however, the term “Other Agreements” shall not include the related or companion documents to this Note. Each of the loan
transactions will be cross-defaulted with each other loan transaction and with all other existing and future debt of Borrower to the
Holder.

 

Upon
the occurrence and during the continuation of any Event of Default specified in Section 3.1 (solely with respect to failure to pay the
principal hereof or interest thereon when due at the Maturity Date), the Note shall become immediately due and payable and the Borrower
shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Default Amount (as defined herein).
UPON THE OCCURRENCE AND DURING THE CONTINUATION OF ANY EVENT OF DEFAULT SPECIFIED IN SECTION 3.2, THE NOTE SHALL BECOME IMMEDIATELY DUE
AND PAYABLE AND THE BORROWER SHALL PAY TO THE HOLDER, IN FULL SATISFACTION OF ITS OBLIGATIONS HEREUNDER, AN AMOUNT EQUAL TO: (Y) THE
DEFAULT AMOUNT (AS DEFINED HEREIN); MULTIPLIED BY (Z) TWO (2). Upon the occurrence and during the continuation of any Event of Default
specified in Sections 3.1 (solely with respect to failure to pay the principal hereof or interest thereon when due on this Note upon
a Trading Market Prepayment Event pursuant to Section 1.7 or upon acceleration), 3.3, 3.4, 3.7, 3.8, 3.10, 3.11, 3.12, 3.13, and/or 3.14
exercisable through the delivery of written notice to the Borrower by such Holders (the “Default Notice”), and upon the occurrence
of an Event of Default specified the remaining sections of Articles III (other than failure to pay the principal hereof or interest thereon
at the Maturity Date specified in Section 3,1 hereof), the Note shall become immediately due and payable and the Borrower shall pay to
the Holder, in full satisfaction of its obligations hereunder, an amount equal to 150% times the sum of (w) the then outstanding
principal amount of this Note plus (x) accrued and unpaid interest on the unpaid principal amount of this Note to the date of
payment (the “Mandatory Prepayment Date”) plus (y) Default Interest, if any, on the amounts referred to in clauses
(w) and/or (x) plus (z) any amounts owed to the Holder pursuant to Sections 1.3 and 1.4(g) hereof (the then outstanding principal
amount of this Note to the date of payment plus the amounts referred to in clauses (x), (y) and (z) shall collectively be known
as the “Default Amount”) and all other amounts payable hereunder shall immediately become due and payable, all without demand,
presentment or notice, all of which hereby are expressly waived, together with all costs, including, without limitation, legal fees and
expenses, of collection, and the Holder shall be entitled to exercise all other rights and remedies available at law or in equity.

 

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If
the Borrower fails to pay the Default Amount within five (5) business days of written notice that such amount is due and payable, then
the Holder shall have the right at any time, so long as the Borrower remains in default (and so long and to the extent that there are
sufficient authorized shares), to require the Borrower, upon written notice, to immediately issue, in lieu of the Default Amount, the
number of shares of Common Stock of the Borrower equal to the Default Amount divided by the Conversion Price then in effect.

 

ARTICLE
IV. MISCELLANEOUS

 

4.1 Failure
or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude
other or further exercise thereof or of any other right, power or privileges. All rights and remedies existing hereunder are
cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

4.2 Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted by
hand delivery, email, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have
specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be
deemed effective (a) upon hand delivery, email or delivery by facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where such
notice is to be received), or the first business day following such delivery (if delivered other than on a business day during
normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by
express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first
occur. The addresses for such communications shall be:

 

If
to the Borrower, to:

 

CYBER
APPS WORLD INC.

9436
W. Lake Mead Blvd., Suite 5-53

Las Vegas, Nevada 89134

Attn:
Mohammed Irfan Rafimiya Kazi, President and Chief Executive Officer

 Fax:

Email:
info@cyberworldapps.com;

with copy to greg@yankelaw.com

 

    10

     

    

 

If
to the Holder:

 

SIXTH
STREET LENDING LLC

1800
Diagonal Road, Suite 623

Alexandria
VA 22314

Attn:
Curt Kramer, President

e-mail:
ckramer@sixthstreetlending.com

 

4.3 Amendments.
This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and the Holder. The term
“Note” and all reference thereto, as used throughout this instrument, shall mean this instrument (and the other Notes
issued pursuant to the Purchase Agreement) as originally executed, or if later amended or supplemented, then as so amended or
supplemented.

 

4.4
Most Favored Nation. During the period where any monies are owed to the Holder pursuant to this Note, if the Borrower engages
in any future financing transactions with a third party investor, the Borrower will provide the Holder with written notice (the “MFN
Notice”) thereof promptly but in no event less than 10 days prior to closing any financing transactions. Included with the MFN
Notice shall be a copy of all documentation relating to such financing transaction and shall include, upon written request of the Holder,
any additional information related to such subsequent investment as may be reasonably requested by the Holder. In the event the Holder
determines that the terms of the subsequent investment are preferable to the terms of the securities of the Borrower issued to the Holder
pursuant to the terms of the Purchase Agreement, the Holder will notify the Borrower in writing. Promptly after receipt of such written
notice from the Holder, the Borrower agrees to amend and restate the Securities (which may include the conversion terms of this Note),
to be identical to the instruments evidencing the subsequent investment. Notwithstanding the foregoing, this Section 4.4 shall not apply
in respect of (i) an Exempt Issuance, or (ii) an underwritten public offering of Common Stock. “Exempt Issuance” means
the issuance of: (a) shares of Common Stock or options to employees, officers, consultants, advisors or directors of the Borrower pursuant
to any stock or option plan duly adopted for such purpose by a majority of the members of the Board of Directors or a majority of the
members of a committee of directors established for such purpose, (b) securities upon the exercise or exchange of or conversion of this
Note and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the
date hereof, and (c) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested
directors of the Borrower, provided that any such issuance shall only be to a Person which is, itself or through its subsidiaries, an
operating company in a business synergistic with the business of the Borrower and in which the Borrower receives benefits in addition
to the investment of funds, but shall not include a transaction in which the Borrower is issuing securities primarily for the purpose
of raising capital or to an entity whose primary business is investing in securities.

 

    11

     

    

 

4.5 Assignability.
This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit of the Holder and its
successors and assigns. Each transferee of this Note must be an “accredited investor” (as defined in Rule 501(a) of the
Securities and Exchange Commission). Notwithstanding anything in this Note to the contrary, this Note may be pledged as collateral
in connection with a bona fide margin account or other lending arrangement; and may be assigned by the Holder without the
consent of the Borrower.

 

4.6 Cost
of Collection. If default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection,
including reasonable attorneys’ fees.

 

4.7 Governing
Law. This Note shall be governed by and construed in accordance with the laws of the State of Virginia without regard to
principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by
this Note shall be brought only in the state courts of Virginia or in the federal courts located in the state and city of
Alexandria, Virginia. The parties to this Note hereby irrevocably waive any objection to jurisdiction and venue of any action
instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The
Borrower and Holder waive trial by jury. The Holder shall be entitled to recover from the Borrower its reasonable attorney’s
fees and costs. In the event that any provision of this Note or any other agreement delivered in connection herewith is invalid or
unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may
conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove
invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement. Each
party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding
in connection with this Note, any agreement or any other document delivered in connection with this Note by mailing a copy thereof
via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for
notices to it under this Note and agrees that such service shall constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by
law.

 

4.8 Purchase
Agreement. By its acceptance of this Note, each party agrees to be bound by the applicable terms of the Purchase
Agreement.

 

4.9 Remedies.
The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder, by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that the remedy at law for a
breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened breach by the
Borrower of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies at law or in
equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any
breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing economic loss and
without any bond or other security being required.

 

    12

     

    

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by its duly authorized officer this on December 30, 2021

 

CYBER
APPS WORLD INC. 

 

By:
/s/ Mohammed Irfan Rafimiya Kazi

       Mohammed
Irfan Rafimiya Kazi

       President
and Chief Executive Officer

 

    13

     

    

 

EXHIBIT
A -- NOTICE OF CONVERSION

  

The
undersigned hereby elects to convert $_________________ principal amount of the Note (defined below) into that number of shares of Common
Stock to be issued pursuant to the conversion of the Note (“Common Stock”) as set forth below, of CYBER APPS WORLD INC.,
a Nevada corporation (the “Borrower”) according to the conditions of the convertible note of the Borrower dated as of December
30, 2021 (the “Note”), as of the date written below. No fee will be charged to the Holder for any conversion, except for
transfer taxes, if any.

 

Box
Checked as to applicable instructions:

 

		☐	The
Borrower shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of the undersigned
or its nominee with DTC through its Deposit Withdrawal Agent Commission system (“DWAC Transfer”).

 

Name
of DTC Prime Broker:

Account
Number:

 

		☐	The
undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock set forth
below (which numbers are based on the Holder’s calculation attached hereto) in the name(s) specified immediately below or, if additional
space is necessary, on an attachment hereto:

 

Date
of conversion: _____________

Applicable
Conversion Price: $____________

Number
of shares of common stock to be issued

       pursuant
to conversion of the Notes: ______________

Amount of Principal Balance due remaining

       under
the Note after this conversion: ______________

 

SIXTH
STREET LENDING LLC

 

 By:_____________________________

Name:
Curt Kramer

Title:
President

Date:
__________________

 

    14

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