Document:

Exhibit 10.6

 

 

CAREFULLY READ THE LA&A : This document describes the terms and conditions of your loan. It is your responsibility to comply with   ALL  the terms and conditions of your loan. SIGNING THE LA&A : All borrowers must sign the LA&A.  Sign your name  exactly  as it appears on the LA&A. If typed incorrectly, you should sign   with the correct spelling.  If your middle initial appears on the signature line, sign with your middle initial.  If a suffix appears on the signature line, such as Sr. or Jr., sign with your suffix.  Corporate Signatories: Authorized representatives should sign the signature page. Your signature represents your agreement to comply with the terms and conditions of the loan. Ref 50 30 Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 LOAN AUTHORIZATION AND AGREEMENT (LA&A) A PROPERLY SIGNED DOCUMENT IS   REQUIRED  PRIOR  TO ANY   DISBURSEMENT DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

Page  2 of 11 SBA Form 1391 (5 - 00) Ref 50 30 U.S. Small Business Administration Economic Injury Disaster Loan LOAN AUTHORIZATION AND AGREEMENT Date: 06.05.2020 (Effective Date) On the above date, this Administration (SBA) authorized (under Section 7(b) of the Small Business Act, as amended) a Loan   (SBA Loan  #8507167808)  to AVX DESIGN & INTEGRATION INC (Borrower) of  10859 VENICE BLVD LOS ANGELES California 90034 in the amount of fifty - six thousand eight hundred  and 00/100 Dollars ($56,800.00), upon the following conditions: PAYMENT  Installment payments, including principal and interest, of  $277.00  Monthly ,  will begin  Twelve (12) months   from the date of the promissory Note. The balance of principal and interest will be payable  Thirty (30) years   from the date of the promissory Note. INTEREST  Interest will accrue at the rate of  3.75 %  per annum and will accrue only on funds actually advanced from the   date(s) of each advance. PAYMENT TERMS  Each payment will be applied first to interest accrued to the date of receipt of each payment, and the balance, if   any, will be applied to principal .  Each payment will be made when due even if at that time the full amount of the Loan has not yet been advanced   or the authorized amount of the Loan has been reduced. COLLATERAL  For loan amounts of greater than $25,000, Borrower hereby grants to SBA, the secured party hereunder, a   continuing security interest in and to any and all “Collateral” as described herein to secure payment and   performance of all debts, liabilities and obligations of Borrower to SBA hereunder without limitation, including   but not limited to all interest, other fees and expenses (all hereinafter called  “Obligations”).  The Collateral   includes the following property that Borrower now owns or shall acquire or create immediately upon the   acquisition or creation thereof: all tangible and intangible personal property, including, but not limited to: (a)   inventory, (b) equipment, (c) instruments, including promissory notes (d) chattel paper, including tangible   chattel paper and electronic chattel paper, (e) documents, (f) letter of credit rights, (g) accounts, including health - care insurance receivables and credit card receivables, (h) deposit accounts, (i) commercial tort claims, (j)  general intangibles, including payment intangibles and software and (k) as - extracted collateral as such terms   may from time to time be defined in the Uniform Commercial Code. The security interest Borrower grants   includes all accessions, attachments, accessories, parts, supplies and replacements for the Collateral, all   products, proceeds and collections thereof and all records and data relating thereto.  For loan amounts of $25,000 or less, SBA is not taking a security interest in any collateral. Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

Page  3 of 11 SBA Form 1391 (5 - 00) Ref 50 30 REQUIREMENTS RELATIVE TO COLLATERAL  Borrower will not sell or transfer any collateral (except normal inventory turnover in the ordinary course of   business) described in the "Collateral" paragraph hereof without the prior written consent of SBA.  Borrower will neither seek nor accept future advances under any superior liens on the collateral securing this   Loan without the prior written consent of SBA. USE OF LOAN PROCEEDS  Borrower will use all the proceeds of this Loan solely as working capital to alleviate economic injury caused by   disaster occurring in the month of January 31, 2020 and continuing thereafter and to pay Uniform Commercial   Code (UCC) lien filing fees and a third - party UCC handling charge of $100 which will be deducted from the   Loan amount stated above. REQUIREMENTS FOR USE OF LOAN PROCEEDS AND RECEIPTS  Borrower will obtain and itemize receipts (paid receipts, paid invoices or cancelled checks) and contracts for all   Loan funds spent and retain these receipts for 3 years from the date of the final disbursement. Prior to each   subsequent disbursement (if any) and whenever requested by SBA, Borrower will submit to SBA such   itemization together with copies of the receipts.  Borrower will not use, directly or indirectly, any portion of the proceeds of this Loan to relocate without the   prior written permission of SBA. The law prohibits the use of any portion of the proceeds of this Loan for   voluntary relocation from the business area in which the disaster occurred. To request SBA's prior written   permission to relocate, Borrower will present to SBA the reasons therefore and a description or address of the   relocation site. Determinations of (1) whether a relocation is voluntary or otherwise, and (2) whether any site   other than the disaster - affected location is within the business area in which the disaster occurred, will be made   solely by SBA.  Borrower will, to the extent feasible, purchase only American - made equipment and products with the proceeds   of this Loan.  Borrower will make any request for a loan increase for additional disaster - related damages as soon as possible   after the need for a loan increase is discovered. The SBA will not consider a request for a loan increase received  more than  two (2)  years from the date of loan approval unless, in the sole discretion of the SBA, there  are  extraordinary and unforeseeable circumstances beyond the control of the borrower. DEADLINE FOR RETURN OF LOAN CLOSING DOCUMENTS  Borrower will sign and return the loan closing documents to SBA within 2 months of the date of this Loan   Authorization and  Agreement .  By notifying the Borrower in writing, SBA may cancel this Loan if the   Borrower fails to meet this requirement. The Borrower may submit and the SBA may, in its sole discretion,   accept documents after 2 months of the date of this Loan Authorization and Agreement. COMPENSATION FROM OTHER SOURCES  Eligibility for this disaster Loan is limited to disaster losses that are not compensated by other sources.   Other sources include but are not limited to: (1) proceeds of policies of insurance or other indemnifications, (2) grants or other reimbursement (including loans) from government agencies or private organizations, (3) Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

Page  4 of 11 SBA Form 1391 (5 - 00) Ref 50 30 claims for civil liability against other individuals, organizations or governmental entities, and (4) salvage   (including any sale or re - use) of items of damaged property.  Borrower will promptly notify SBA of the existence and status of any claim or application for such other   compensation, and of the receipt of any such compensation, and Borrower will promptly submit the proceeds   of same (not exceeding the outstanding balance of this Loan) to SBA.  Borrower hereby assigns to SBA the proceeds of any such compensation from other sources and authorizes the   payor of same to deliver said proceeds to SBA at such time and place as SBA shall designate.  SBA will in its sole discretion determine whether any such compensation from other sources is a duplication   of benefits. SBA will use the proceeds of any such duplication to reduce the outstanding balance of this Loan,   and Borrower agrees that such proceeds will not be applied in lieu of scheduled payments. DUTY TO MAINTAIN HAZARD INSURANCE  Within 12 months from the date of this Loan Authorization and Agreement the Borrower will provide proof of   an active and in effect hazard insurance policy including fire, lightning, and extended coverage on all items used   to secure this loan to at least 80% of the insurable value. Borrower will not cancel such coverage and will   maintain such coverage throughout the entire term of this Loan.  BORROWER MAY NOT BE ELIGIBLE   FOR EITHER ANY FUTURE DISASTER ASSISTANCE OR SBA FINANCIAL ASSISTANCE IF THIS   INSURANCE IS NOT MAINTAINED AS STIPULATED HEREIN THROUGHOUT THE ENTIRE   TERM OF THIS LOAN.  Please submit proof of insurance to: U.S. Small Business Administration, Office of   Disaster Assistance, 14925 Kingsport Rd, Fort Worth, TX. 76155. BOOKS AND RECORDS  Borrower will maintain current and proper books of account in a manner satisfactory to SBA for the most recent   5 years until 3 years after the date of maturity, including extensions, or the date this Loan is paid in full,   whichever occurs first. Such books will include Borrower's financial and operating statements, insurance   policies, tax returns and related filings, records of earnings distributed and dividends paid and records of   compensation to officers, directors, holders of 10% or more of Borrower's capital stock, members, partners and   proprietors.  Borrower authorizes SBA to make or cause to be made, at Borrower's expense and in such a manner and at such   times as SBA may require: (1) inspections and audits of any books, records and paper in the custody or control   of Borrower or others relating to Borrower's financial or business conditions, including the making of copies   thereof and extracts therefrom, and (2) inspections and appraisals of any of Borrower's assets.  Borrower will furnish to SBA, not later than 3 months following the expiration of Borrower's fiscal year and in   such form as SBA may require, Borrower's financial statements.  Upon written request of SBA, Borrower will accompany such statements with an 'Accountant's Review Report'  prepared by an independent public accountant at Borrower's expense.  Borrower authorizes all Federal, State and municipal authorities to furnish reports of examination, records and   other information relating to the conditions and affairs of Borrower and any desired information from such   reports, returns, files, and records of such authorities upon request of SBA. Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

Page  5 of 11 SBA Form 1391 (5 - 00) Ref 50 30 LIMITS ON DISTRIBUTION OF ASSETS  Borrower will not, without the prior written consent of SBA, make any distribution of Borrower’s assets, or give   any preferential treatment, make any advance, directly or indirectly, by way of loan, gift, bonus, or otherwise, to   any owner or partner or any of its employees, or to any company directly or indirectly controlling or affiliated   with or controlled by Borrower, or any other company. EQUAL OPPORTUNITY REQUIREMENT  If Borrower has or intends to have employees, Borrower will post SBA Form 722, Equal Opportunity Poster   (copy attached), in Borrower's place of business where it will be clearly visible to employees, applicants for   employment, and the general public. DISCLOSURE OF LOBBYING ACTIVITIES  Borrower agrees to the attached Certification Regarding Lobbying Activities   BORROWER’S CERTIFICATIONS Borrower certifies that:  There has been no substantial adverse change in Borrower's financial condition (and organization, in case of a   business borrower) since the date of the application for this Loan. (Adverse changes include, but are not limited   to: judgment liens, tax liens, mechanic's liens, bankruptcy, financial reverses, arrest or conviction of felony, etc.)  No fees have been paid, directly or indirectly, to any representative (attorney, accountant, etc.) for services   provided or to be provided in connection with applying for or closing this Loan, other than those reported on   SBA Form 5 Business Disaster Loan Application'; SBA Form 3501 COVID - 19 Economic Injury Disaster Loan   Application; or SBA Form 159, 'Compensation Agreement'. All fees not approved by SBA are prohibited.  All representations in the Borrower's Loan application (including all supplementary submissions) are true,   correct and complete and are offered to induce SBA to make this Loan.  No claim or application for any other compensation for disaster losses has been submitted to or requested of   any source, and no such other compensation has been received, other than that which Borrower has fully   disclosed to SBA.  Neither the Borrower nor, if the Borrower is a business, any principal who owns at least 50% of the Borrower,   is delinquent more than 60 days under the terms of any: (a) administrative order; (b) court order; or (c)   repayment agreement that requires payment of child support.  Borrower certifies that no fees have been paid, directly or indirectly, to any representative (attorney,   accountant, etc.) for services provided or to be provided in connection with applying for or closing this   Loan, other than those reported on the Loan Application. All fees not approved by SBA are prohibited. If an Applicant chooses to employ an Agent, the compensation an Agent charges to and that is paid by the Applicant must bear a necessary and reasonable relationship to the services actually performed and must   be comparable to those charged by other Agents in the geographical area. Compensation cannot be   contingent on loan approval. In addition, compensation must not include any expenses which are deemed   by SBA to be unreasonable for services actually performed or expenses actually incurred. Compensation   must not include Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

Page  6 of 11 SBA Form 1391 (5 - 00) Ref 50 30 charges prohibited in 13 CFR 103 or SOP 50 - 30, Appendix 1.  If the compensation exceeds $500 for a disaster home loan or $2,500 for a disaster business loan, Borrower must fill out the Compensation   Agreement Form 159D which will be provided for Borrower upon request or can be found on the   SBA website.  Borrower certifies, to the best of its, his or her knowledge and belief, that the certifications and representations in the attached Certification Regarding Lobbying are true, correct and complete and are offered to induce SBA to make this Loan . CIVIL AND CRIMINAL PENALTIES  Whoever wrongfully misapplies the proceeds of an SBA disaster loan shall be civilly liable to the Administrator   in an amount equal to one - and - one half times the original principal amount of the loan under 15 U.S.C. 636(b).   In addition, any false statement or misrepresentation to SBA may result in criminal, civil or administrative   sanctions including, but not limited to: 1) fines, imprisonment or both, under 15 U.S.C. 645, 18 U.S.C. 1001, 18 U.S.C. 1014, 18 U.S.C. 1040, 18 U.S.C. 3571, and any other applicable laws; 2) treble damages and civil   penalties under the False Claims Act, 31 U.S.C. 3729; 3) double damages and civil penalties under the Program   Fraud Civil Remedies Act, 31 U.S.C. 3802; and 4) suspension and/or debarment from all Federal procurement   and non - procurement transactions. Statutory fines may increase if amended by the Federal Civil Penalties   Inflation Adjustment Act Improvements Act of 2015. RESULT OF VIOLATION OF THIS LOAN AUTHORIZATION AND AGREEMENT  If Borrower violates any of the terms or conditions of this Loan Authorization and Agreement, the Loan will be in default and SBA may declare all or any part of the indebtedness immediately due and payable . SBA's failure to exercise its rights under this paragraph will not constitute a waiver .  A default (or any violation of any of the terms and conditions) of any SBA Loan(s) to Borrower and/or its   affiliates will be considered a default of all such Loan(s). DISBURSEMENT OF THE LOAN  Disbursements will be made by and at the discretion of SBA Counsel, in accordance with this Loan   Authorization and Agreement and the general requirements of SBA.  Disbursements may be made in increments as needed.  Other conditions may be imposed by SBA pursuant to general requirements of SBA.  Disbursement may be withheld if, in SBA's sole discretion, there has been an adverse change in Borrower's   financial condition or in any other material fact represented in the Loan application, or if Borrower fails to   meet any of the terms or conditions of this Loan Authorization and Agreement.  NO DISBURSEMENT WILL BE MADE LATER THAN 6 MONTHS FROM THE DATE OF THIS   LOAN AUTHORIZATION AND AGREEMENT UNLESS SBA, IN ITS SOLE DISCRETION,   EXTENDS THIS DISBURSEMENT PERIOD. Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

PARTIES AFFECTED  This Loan Authorization and Agreement will be binding upon Borrower and Borrower's successors and   assigns and will inure to the benefit of SBA and its successors and assigns. RESOLUTION OF BOARD OF DIRECTORS  Borrower shall, within 180 days of receiving any disbursement of this Loan, submit the appropriate SBA   Certificate and/or Resolution to the U.S. Small Business Administration, Office of Disaster Assistance, 14925   Kingsport Rd, Fort Worth, TX. 76155. ENFORCEABILITY  This Loan Authorization and Agreement is legally binding, enforceable and approved upon Borrower’s   signature, the  SBA’s  approval and the Loan Proceeds being issued to Borrower by a government issued check or   by electronic debit of the Loan Proceeds to Borrower’ banking account provided by Borrower in application for   this Loan. James E. Rivera   Associate Administrator U.S. Small Business Administration The undersigned agree(s) to be bound by the terms and conditions herein during the term of this Loan, and further agree(s)   that no provision stated herein will be waived without prior written consent of SBA.  Under penalty of perjury of the   United States of America, I hereby certify that I am authorized to apply for and obtain a disaster loan on behalf of   Borrower, in connection with the effects of the COVID - 19 emergency. AVX DESIGN & INTEGRATION INC {{0_SH}} Date: 06.05.2020 DESHENG WANG, Owner/Officer Note:  Corporate Borrowers must execute Loan Authorization and Agreement in corporate name, by a duly authorized   officer. Partnership Borrowers must execute in firm name, together with signature of a general partner. Limited Liability   entities must execute in the entity name by the signature of the authorized managing person. Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603 Page  7 of 11 SBA Form 1391 (5 - 00) Ref 50 30

    	 

    	 

    

Page  8 of 11 SBA Form 1391 (5 - 00) CERTIFICATION REGARDING LOBBYING For loans over $150,000, Congress requires recipients to agree to   the following: 1. Appropriated funds may NOT be used for lobbying. 2. Payment of non - federal funds for lobbying must be reported on Form   SF - LLL. 3. Language of this certification must be incorporated into all   contracts and subcontracts exceeding $100,000. 4. All contractors and subcontractors with contracts exceeding $100,000 are required to certify and disclose accordingly. Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

Page  9 of 11 SBA Form 1391 (5 - 00) CERTIFICATION REGARDING   LOBBYING Certification for Contracts, Grants, Loans, and Cooperative   Agreements Borrower and all Guarantors (if any) certify, to the best of its, his or her knowledge and belief, that: (1) No Federal appropriated funds have been paid or will be paid, by or on behalf of the undersigned, to   any person for influencing or attempting to influence an officer or employee of any agency, a Member of   Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection   with awarding of any Federal contract, the making of any Federal grant, the making of any Federal loan,   the entering into of any cooperative agreement, and the extension, continuation, renewal, or modification of   any Federal contract, grant, loan, or cooperative agreement. (2) If any funds other than Federal appropriated funds have been paid or will be paid to any person for   influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an   officer or employee of Congress, or an employee of a Member of Congress in connection with this Federal   loan, the undersigned shall complete and submit Standard Form LLL, "Disclosure Form to Report   Lobbying," in accordance with its instructions. (3) The undersigned shall require that the language of this certification be included in the award   documents for all sub - awards at all tiers (including subcontracts, sub - grants, and contracts under grants,   loans, and co - operative agreements) and that all sub - recipients shall certify and disclose accordingly. This certification is a material representation of fact upon which reliance was placed when this transaction   was made or entered into. Submission of this certification is a prerequisite for making or entering into this   transaction imposed by Section 1352, Title 31, U.S. Code. Any person who fails to file the required   certification shall be subject to a civil penalty of not less than $10,000.00 and not more than $100,000.00   for each such failure. Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

This Statement of Policy is Posted In Accordance with Regulations of the Small Business Administration This Organization Practices Equal Employment Opportunity We do not discriminate on the ground of race, color, religion, sex, age, disability   or national origin in the hiring, retention, or promotion of employees; nor in   determining their rank, or the compensation or fringe benefits paid them. This Organization Practices Equal Treatment of Clients We do not discriminate on the basis of race, color, religion, sex, marital status,   disability, age or national origin in services or accommodations offered or   provided to our employees, clients or guests. These policies and this notice comply with regulations of the United States Government. Please report violations of this policy to: Administrator Small Business Administration   Washington, D.C. 20416 In order for the public and your employees to know their rights under 13 C . F . R Parts 112 , 113 , and 117 , Small Business Administration Regulations, and to conform with the directions of the Administrator of SBA, this poster must be displayed where it is clearly visible to employees, applicants for employment, and the public . Failure to display the poster as required in accordance with SBA Regulations may be considered evidence of noncompliance and subject you to the penalties contained in those Regulations. Doc # L - 01 - 1186682 - 01 Page  10 of 11 SBA FORM 722 (10 - 02) REF: SOP 9030     PREVIOUS EDITIONS ARE OBSOLETE This form was electronically produced by Elite Federal Inc. U.S. GOVERNMENT PRINTING OFFICE: 1994 0 - 153 - 346 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

Esta Declaración De Principios Se Publica De Acuerdo Con Los Reglamentos De La Agencia Federal Para el Desarrollo de la Pequeña Empresa Esta Organización Practica Igual Oportunidad De Empleo No discriminamos por razón de raza, color, religión, sexo, edad, discapacidad o   nacionalidad en el empleo, retención o ascenso de personal ni en la determinación   de sus posiciones, salarios o beneficios marginales. Esta Organización Practica Igualdad En El Trato A Su Clientela No discriminamos por razón de raza, color, religión, sexo, estado civil, edad, discapacidad o nacionalidad en los servicios o facilidades provistos para   nuestros empleados, clientes o visitantes. Estos principios y este aviso cumplen con los reglamentos del Gobierno   de los Estados Unidos de América. Favor de informar violaciones a lo aquí indicado a: Administrador Agencia Federal Para el Desarrollo de la   Pequeña Empresa Washington, D.C. 20416 A fin de que el público y sus empleados conozcan sus derechos según lo expresado en las Secciones 112,   113 y 117 del Código de Regulaciaones Federales No. 13, de los Reglamentos de la Agencja Federal Para  el  Desarrollo de la Pequeña Empresa y de acuerdo con las instrucciones del Administrador de dicha  agencia, esta notificación debe fijarse en un lugar claramente visible para los empleados, solicitantes de empleo y   público en general. No fijar esta notificación según lo requerido por los reglamentos de la Agencia Federal   Para el Desarrollo de la Pequeña Empresa, puede ser interpretado como evidencia de falta de cumplimiento   de los mismos y conllevará la ejecución de los castigos impuestos en estos reglamentos. Doc # L - 01 - 1186682 - 01 Page  11 of 11 SBA FORM 722 (10 - 02) REF: SOP 9030     PREVIOUS EDITIONS ARE OBSOLETE This form was electronically produced by Elite Federal Inc. U.S. GOVERNMENT PRINTING OFFICE: 1994 0 - 153 - 346 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

NOTE A PROPERLY SIGNED NOTE IS   REQUIRED  PRIOR  TO ANY   DISBURSEMENT CAREFULLY READ THE  NOTE :  It is your promise to repay the loan.  The Note is pre - dated.  DO NOT CHANGE THE DATE OF THE NOTE.  LOAN PAYMENTS  will be due as stated in the Note.  ANY CORRECTIONS OR UNAUTHORIZED MARKS MAY VOID THIS   DOCUMENT. SIGNING THE NOTE :  All borrowers must sign the Note.  Sign your name  exactly  as it appears on the Note. If typed incorrectly, you should sign   with the correct spelling.  If your middle initial appears on the signature line, sign with your middle initial.  If a suffix appears on the signature line, such as Sr. or Jr., sign with your suffix.  Corporate Signatories: Authorized representatives should sign the signature page. Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

U.S. Small Business Administration N OTE ( S ECURED  DISASTER LOANS ) Date: 06.05.2020 Loan Amount: $56,800.00 Annual Interest Rate: 3.75% Page 2 of 3 SBA FORM 147 B (5 - 00) SBA Loan # 8507167808 Application #3600268982 1. PROMISE TO PAY:  In return for a loan, Borrower promises to pay to the order of SBA the amount of  fifty - six   thousand eight hundred  and 00/100 Dollars  ($56,800.00) ,  interest on the unpaid principal balance, and all other   amounts required by this Note. 2. DEFINITIONS: A)  “Collateral” means any property taken as security for payment of this Note or any guarantee of   this Note.  B)  “Guarantor” means each person or entity that signs a guarantee of payment of this Note.  C)  “Loan   Documents” means the documents related to this loan signed by Borrower, any Guarantor, or anyone who pledges   collateral. 3. PAYMENT TERMS:  Borrower must make all payments at the place SBA designates. Borrower may prepay this   Note in part or in full at any time, without notice or penalty. Borrower must pay principal and interest payments of $277.00  every  month  beginning  Twelve (12)  months from the date of the Note. SBA will apply each installment payment first to pay interest accrued to the day SBA receives the payment and will then apply any remaining balance   to reduce principal. All remaining principal and accrued interest is due and payable  Thirty (30) years  from the date   of the Note. 4. DEFAULT:  Borrower is in default under this Note if Borrower does not make a payment when due under this Note,   or if Borrower:  A)  Fails to comply with any provision of this Note, the Loan Authorization and Agreement, or other   Loan Documents;  B)  Defaults on any other SBA loan;  C)  Sells or otherwise transfers, or does not preserve or   account to  SBA’s  satisfaction for, any of the Collateral or its proceeds;  D)  Does not disclose, or anyone acting on   their behalf does not disclose, any material fact to SBA;  E)  Makes, or anyone acting on their behalf makes, a   materially false or misleading representation to SBA;  F)  Defaults on any loan or agreement with another creditor, if   SBA believes the default may materially affect  Borrower’s  ability to pay this Note;  G)  Fails to pay any taxes when   due;  H)  Becomes the subject of a proceeding under any bankruptcy or insolvency law;  I)  Has a receiver or liquidator   appointed for any part of their business or property;  J)  Makes an assignment for the benefit of creditors;  K)  Has any   adverse change in financial condition or business operation that SBA believes may materially affect Borrower’s   ability to pay this Note;  L)  Dies;  M)  Reorganizes, merges, consolidates, or otherwise changes ownership or business   structure without  SBA’s  prior written consent; or,  N)  Becomes the subject of a civil or criminal action that SBA   believes may materially affect  Borrower’s  ability to pay this Note. 5. SBA’S  RIGHTS IF THERE IS A DEFAULT:  Without notice or demand and without giving up any of its rights,   SBA may:  A)  Require immediate payment of all amounts owing under this Note;  B)  Have recourse to collect all   amounts owing from any Borrower or Guarantor (if any);  C)  File suit and obtain judgment;  D)  Take possession of   any Collateral; or  E)  Sell, lease, or otherwise dispose of, any Collateral at public or private sale, with or without   advertisement. 6. SBA’S  GENERAL POWERS:  Without notice and without  Borrower’s  consent, SBA may:  A)  Bid on or buy the   Collateral at its sale or the sale of another lienholder, at any price it chooses;  B)  Collect amounts due under this Note,   enforce the terms of this Note or any other Loan Document, and preserve or dispose of the Collateral. Among other   things, the expenses may include payments for property taxes, prior liens, insurance, appraisals, environmental   remediation costs, and reasonable  attorney’s  fees and costs. If SBA incurs such expenses, it may demand immediate   reimbursement from Borrower or add the expenses to the principal balance;  C)  Release anyone obligated to pay this   Note;  D)  Compromise, release, renew, extend or substitute any of the Collateral; and  E)  Take any action necessary to   protect the Collateral or collect amounts owing on this Note. Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

7. FEDERAL LAW APPLIES:  When SBA is the holder, this Note will be interpreted and enforced under federal law,   including SBA regulations. SBA may use state or local procedures for filing papers, recording documents, giving   notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity   from state or local control, penalty, tax, or liability. As to this Note, Borrower may not claim or assert against SBA   any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law. 8. GENERAL PROVISIONS: A)  All individuals and entities signing this Note are jointly and severally liable.  B)   Borrower waives all suretyship defenses.  C)  Borrower must sign all documents required at any time to comply with   the Loan Documents and to enable SBA to acquire, perfect, or maintain  SBA’s  liens on Collateral.  D)  SBA may   exercise any of its rights separately or together, as many times and in any order it chooses. SBA may delay or forgo   enforcing any of its rights without giving up any of them.  E)  Borrower may not use an oral statement of SBA to   contradict or alter the written terms of this Note.  F)  If any part of this Note is unenforceable, all other parts remain in   effect.  G)  To the extent allowed by law, Borrower waives all demands and notices in connection with this Note,   including presentment, demand, protest, and notice of dishonor. Borrower also waives any defenses based upon any   claim that SBA did not obtain any guarantee; did not obtain, perfect, or maintain a lien upon Collateral; impaired   Collateral; or did not obtain the fair market value of Collateral at a sale.  H)  SBA may sell or otherwise transfer this   Note. 9. MISUSE OF LOAN FUNDS:  Anyone who wrongfully misapplies any proceeds of the loan will be civilly liable to  SBA for one and one - half times the proceeds disbursed, in addition to other remedies allowed by law. 10. BORROWER’S  NAME(S) AND SIGNATURE(S):  By signing below, each individual or entity acknowledges and   accepts personal obligation and full liability under the Note as Borrower. AVX DESIGN & INTEGRATION INC DESHENG WANG, Owner/Officer {{0_SH}} Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603 Page 3 of 3 SBA FORM 147 B (5 - 00)

    	 

    	 

    

SECURITY AGREEMENT Read this document carefully.  It grants the SBA a security interest (lien) in all   the property described in paragraph 4. This document is predated. DO NOT CHANGE THE DATE ON THIS   DOCUMENT. Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

U.S. Small Business Administration S ECURITY A GREEMENT SBA Loan #: 8507167808 Borrower: AVX DESIGN & INTEGRATION INC Secured Party: The Small Business Administration, an Agency of the U.S. Government Date: 06.05.2020 Note Amount: $56,800.00 Page 2 of 5 SBA Form 1059 (09 - 19) Previous Editions are obsolete. 1. DEFINITIONS. Unless otherwise specified, all terms used in this Agreement will have the meanings ascribed to them under the   Official Text of the Uniform Commercial Code, as it may be amended from time to time, (“UCC”).  “SBA”   means the Small Business Administration, an Agency of the U.S. Government. 2. GRANT OF SECURITY INTEREST. For value received, the Borrower grants to the Secured Party a security interest in the property described below   in paragraph 4 (the “Collateral”). 3. OBLIGATIONS SECURED . This Agreement secures the payment and performance of: (a) all obligations under a Note dated 06.05.2020,   made by AVX DESIGN & INTEGRATION INC , made payable to Secured Lender, in the amount of $56,800.00  (“Note”), including all costs and expenses (including reasonable  attorney’s  fees), incurred by Secured Party in the disbursement, administration and collection of the loan evidenced by the Note; (b) all costs   and expenses (including reasonable attorney’s fees), incurred by Secured Party in the protection, maintenance   and enforcement of the security interest hereby granted; (c) all obligations of the Borrower in any other   agreement relating to the Note; and (d) any modifications, renewals, refinancings, or extensions of the foregoing   obligations. 4. COLLATERAL DESCRIPTION. The Collateral in which this security interest is granted includes the following property that Borrower now owns   or shall acquire or create immediately upon the acquisition or creation thereof: all tangible Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

Page 3 of 5 SBA Form 1059 (09 - 19) Previous Editions are obsolete. and intangible personal property, including, but not limited to: (a) inventory, (b) equipment, (c) instruments,   including promissory notes (d) chattel paper, including tangible chattel paper and electronic chattel paper, (e)   documents, (f) letter of credit rights, (g) accounts, including health - care insurance receivables and credit card   receivables, (h) deposit accounts, (i) commercial tort claims, (j) general intangibles, including payment intangibles   and software and (k) as - extracted collateral as such terms may from time to time be defined in the Uniform   Commercial Code.  The security interest Borrower grants includes all accessions, attachments, accessories, parts, supplies and replacements for the Collateral, all products, proceeds and collections thereof and all records and data relating thereto. 5. RESTRICTIONS ON COLLATERAL TRANSFER. Borrower will not sell, lease, license or otherwise transfer (including by granting security interests, liens, or   other encumbrances in) all or any part of the Collateral or  Borrower’s  interest in the Collateral without Secured   Party’s  written or electronically communicated approval, except that Borrower may sell inventory in the   ordinary course of business on customary terms. Borrower may collect and use amounts due on accounts and   other rights to payment arising or created in the ordinary course of business, until notified otherwise by Secured   Party in writing or by electronic communication. 6. MAINTENANCE AND LOCATION OF COLLATERAL; INSPECTION; INSURANCE. Borrower must promptly notify Secured Party by written or electronic communication of any change in location   of the Collateral, specifying the new location. Borrower hereby grants to Secured Party the right to inspect the   Collateral at all reasonable times and upon reasonable notice. Borrower must: (a) maintain the Collateral in   good condition; (b) pay promptly all taxes, judgments, or charges of any kind levied or assessed thereon; (c)   keep current all rent or mortgage payments due, if any, on premises where the Collateral is located; and (d)   maintain hazard insurance on the Collateral, with an insurance company and in an amount approved by Secured   Party (but in no event less than the replacement cost of that Collateral), and including such terms as Secured   Party may require including a  Lender’s  Loss Payable Clause in favor of Secured Party. Borrower hereby assigns   to Secured Party any proceeds of such policies and all unearned premiums thereon and authorizes and empowers   Secured Party to collect such sums and to execute and endorse in  Borrower’s  name all proofs of loss, drafts,   checks and any other documents necessary for Secured Party to obtain such payments. 7. CHANGES TO  BORROWER’S  LEGAL STRUCTURE, PLACE OF BUSINESS, JURISDICTION   OF ORGANIZATION, OR NAME. Borrower must notify Secured Party by written or electronic communication not less than 30 days before taking   any of the following actions: (a) changing or reorganizing the type of organization or form under which it does   business; (b) moving, changing its place of business or adding a place of business; (c) changing its jurisdiction   of organization; or (d) changing its name. Borrower will pay for the preparation and filing of all documents   Secured Party deems necessary to maintain, perfect and continue the perfection of Secured  Party’s  security   interest in the event of any such change. 8. PERFECTION OF SECURITY INTEREST. Borrower consents, without further notice, to Secured  Party’s  filing or recording of any documents necessary to   perfect, continue, amend or terminate its security interest. Upon request of Secured Party, Borrower must sign or   otherwise authenticate all documents that Secured Party deems necessary at any time to allow Secured Party to   acquire, perfect, continue or amend its security interest in the Collateral. Borrower will pay the filing and recording   costs of any documents relating to Secured Party’s security interest. Borrower ratifies all previous filings and   recordings, including financing statements and Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

Page 4 of 5 SBA Form 1059 (09 - 19) Previous Editions are obsolete. notations on certificates of title. Borrower will cooperate with Secured Party in obtaining a Control Agreement   satisfactory to Secured Party with respect to any Deposit Accounts or Investment Property, or in otherwise obtaining   control or possession of that or any other Collateral. 9. DEFAULT. Borrower is in default under this Agreement if: (a) Borrower fails to pay, perform or otherwise comply with any   provision of this Agreement; (b) Borrower makes any materially false representation, warranty or certification   in, or in connection with, this Agreement, the Note, or any other agreement related to the Note or this   Agreement; (c) another secured party or judgment creditor exercises its rights against the Collateral; or (d) an   event defined as a “default” under the Obligations occurs. In the event of default and if Secured Party requests,   Borrower must assemble and make available all Collateral at a place and time designated by Secured Party. Upon default and at any time thereafter, Secured Party may declare all Obligations secured hereby immediately due and payable, and, in its sole discretion, may proceed to enforce payment of same and exercise any of the   rights and remedies available to a secured party by law including those available to it under Article 9 of the   UCC that is in effect in the jurisdiction where Borrower or the Collateral is located. Unless otherwise required   under applicable law, Secured Party has no obligation to clean or otherwise prepare the Collateral for sale or   other disposition and Borrower waives any right it may have to require Secured Party to enforce the security   interest or payment or performance of the Obligations against any other person. 10. FEDERAL RIGHTS. When SBA is the holder of the Note, this Agreement will be construed and enforced under federal law,   including SBA regulations. Secured Party or SBA may use state or local procedures for filing papers, recording   documents, giving notice, enforcing security interests or liens, and for any other purposes. By using such   procedures, SBA does not waive any federal immunity from state or local control, penalty, tax or liability. As to   this Agreement, Borrower may not claim or assert any local or state law against SBA to deny any obligation,   defeat any claim of SBA, or preempt federal law. 11. GOVERNING LAW. Unless SBA is the holder of the Note, in which case federal law will govern, Borrower and Secured Party agree   that this Agreement will be governed by the laws of the jurisdiction where the Borrower is located, including the   UCC as in effect in such jurisdiction and without reference to its conflicts of laws principles. 12. SECURED PARTY RIGHTS. All rights conferred in this Agreement on Secured Party are in addition to those granted to it by law, and all   rights are cumulative and may be exercised simultaneously. Failure of Secured Party to enforce any rights or   remedies will not constitute an estoppel or waiver of Secured  Party’s  ability to exercise such rights or remedies.   Unless otherwise required under applicable law, Secured Party is not liable for any loss or damage to Collateral   in its possession or under its control, nor will such loss or damage reduce or discharge the Obligations that are   due, even if Secured  Party’s  actions or inactions caused or in any way contributed to such loss or damage. 13. SEVERABILITY. If any provision of this Agreement is unenforceable, all other provisions remain in effect. Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603

    	 

    	 

    

14. BORROWER CERTIFICATIONS. Borrower certifies that: (a) its Name (or Names) as stated above is correct; (b) all Collateral is owned or titled in   the  Borrower’s  name and not in the name of any other organization or individual; (c) Borrower has the legal   authority to grant the security interest in the Collateral; (d)  Borrower’s  ownership in or title to the Collateral is   free of all adverse claims, liens, or security interests (unless expressly permitted by Secured Party); (e) none of   the Obligations are or will be primarily for personal, family or household purposes; (f) none of the Collateral is   or will be used, or has been or will be bought primarily for personal, family or household purposes; (g)   Borrower has read and understands the meaning and effect of all terms of this Agreement. 15. BORROWER NAME(S) AND SIGNATURE(S). By signing or otherwise authenticating below, each individual and each organization becomes jointly and   severally obligated as a Borrower under this Agreement. AVX DESIGN & INTEGRATION INC 06.05.2020 Date: DESHENG WANG, Owner/Officer {{0_SH}} Doc # L - 01 - 1186682 - 01 SBA Loan #8507167808 Application #3600268982 DocuSign Envelope ID: 43329E46 - F0F0 - 4C42 - 90E7 - 2265F0D96603 Page 5 of 5 SBA Form 1059 (09 - 19) Previous Editions are obsolete.Exhibit
10.5

 

THIS
PROMISSORY NOTE (“NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”).
THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE
THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH
REGISTRATION IS NOT REQUIRED.

 

PROMISSORY
NOTE

 

BROAD
CAPITAL ACQUISITION CORP, a Delaware corporation and blank check company located at 5345 Annabel Lane, Plano, TX 75093 (the “Maker”),
promises to pay to the order of BROAD CAPITAL LLC or its registered assigns or successors in interest (the “Payee”),
or order, the principal sum of up to Three Hundred Thousand Dollars ($300,000) in lawful money of the United States of America (the “Borrowing
Limit”), on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of
immediately available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written
notice in accordance with the provisions of this Note.

 

1.
Principal. The principal balance of this Note shall be payable by the Maker on the earlier of: (i) September 30, 2021, or (ii) the
date on which Maker consummates an Initial Public Offering of its securities. The principal balance may be prepaid at any time. Under
no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated
personally for any obligations or liabilities of the Maker hereunder. As used herein, “Initial Public Offering” or
“IPO” shall mean the closing of the issuance and sale of shares of Common Stock of the Maker in the Maker’s
first underwritten public offering pursuant to an effective registration statement under the Securities Act.

 

2.
Interest. No interest shall accrue on the unpaid principal balance of this Note.

 

3.
Drawdown Requests. Maker and Payee agree that Maker may request up to Three Hundred Thousand Dollars ($300,000) for costs reasonably
related to Maker’s Initial Public Offering of its securities. The principal of this Note may be drawn down from time to time prior
to the earlier of: (i) September 30, 2021, or (ii) the date on which Maker consummates an Initial Public Offering of its securities,
upon written request from Maker to Payee (each, a “Drawdown Request”). Each Drawdown Request must state the amount
to be drawn down, and must not be for an amount less than Five Thousand Dollars ($5,000) unless agreed upon by Maker and Payee. Payee
shall fund each Drawdown Request no later than five (5) business days after receipt of a Drawdown Request; provided, however, that the
maximum amount of drawdowns collectively under this Note is the Borrowing Limit. 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.

 

    	1

     

    

 

4.
Application of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum
due under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges
and finally to the reduction of the unpaid principal balance of this Note.

 

5.
Events of Default. The following shall constitute an event of default (“Event of Default”):

 

(a)
Failure to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business
days of the date specified above.

 

(b)
Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization,
rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee,
trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it
of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking
of corporate action by Maker in furtherance of any of the foregoing.

 

(c)
Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect
of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator,
assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the
winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
days.

 

6.
Remedies.

 

(a)
Under Section 5(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)
Under Section 5(b). Upon the occurrence of an Event of Default specified in Sections 5(b) and 5(c), the unpaid principal balance
of this Note, and all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all
cases without any action on the part of Payee.

 

7.
Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of
dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted
by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting
any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale
under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees
that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof or any writ of execution issued hereon,
may be sold upon any such writ in whole or in part in any order desired by Payee.

 

    	2

     

    

 

8.
Unconditional Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party,
and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to
by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect
to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties
hereto without notice to Maker or affecting Maker’s liability hereunder.

 

9.
Notices. All notices, statements or other documents which are required or contemplated by this Note shall be made in writing and
delivered: (i) personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax
number as may be designated in writing by such party or (iii) by electronic mail, to the electronic mail address most recently provided
to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication
so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt
of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier
service or five (5) days after mailing if sent by mail.

 

10.
Construction. This note shall be construed and enforced in accordance with the laws of Delaware, without regard to conflict of law
provisions thereof.

 

11.
Severability. Any provision contained in this Note, which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

12.
Trust Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim
of any kind (“Claim”) in or to any distribution of or from the trust account to be established in which the proceeds
of the Initial Public Offering to be conducted by the Maker (including the deferred underwriters discounts and commissions) and the proceeds
of the sale of the warrants to be issued in a private placement to occur prior to the closing of the IPO are to be deposited, as described
in greater detail in the registration statement and prospectus to be filed with the Securities and Exchange Commission in connection
with the IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account
for any reason whatsoever.

 

13.
Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of
the Maker and the Payee.

 

14.
Assignment. No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation
of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent
shall be void.

 

[Signature
page follows]

 

    	3

     

    

 

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.

 

	 	BROAD
    CAPITAL ACQUISITION CORP
	 	 	 
	 	By:	 
	 	Name:	Johann
    Tse
	 	Title:	Chief
    Executive Officer
	 	Date:
    	April
    16, 2021

 

    	4

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