Document:

EX-10.6

 Exhibit 10.6 

Execution Version 

SPONSOR SUBSCRIPTION AGREEMENT 

This SUBSCRIPTION AGREEMENT (this “Subscription Agreement”) is entered into as of February 10, 2022, by and between Thayer
Ventures Acquisition Corporation, a Delaware corporation (the “Company”; which term shall refer to Inspirato Incorporated following the Closing), Inspirato LLC, a Delaware limited liability company (“Inspirato”),
and Thayer Ventures Acquisition Holdings LLC (“Subscriber”). Defined terms used but not otherwise defined herein shall have the respective meanings ascribed thereto in the Business Combination Agreement, dated June 30, 2021, by and
among, inter alia, the Company and Inspirato (as amended, modified, supplemented or waived from time to time in accordance with its terms, the “Business Combination Agreement”). 

WHEREAS, in consideration of the waiver of certain conditions set forth in the Business Combination Agreement by Inspirato, Subscriber desires
to, among other things, (i) subscribe for and purchase from the Company a number of shares of Buyer Class A Common Stock as set forth in this Subscription Agreement for $5,000,000 in cash, within the time periods and collateralized as set
forth in this Subscription Agreement, and (ii) forfeit, at no cost, 65,000 shares of Buyer Class B Common Stock currently held by Subscriber (which number shall be in addition to the 1,500,000 shares of Buyer Class B Common Stock to
be forfeited by Subscriber pursuant to the Sponsor Side Letter). 
 NOW, THEREFORE, in consideration of the foregoing and subject to the
covenants and conditions herein contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows: 
  

	 	1.	 Subscription. 

1.1     Subject to the terms and conditions hereof, Subscriber hereby agrees to subscribe for and purchase, and the
Company hereby agrees to issue and sell to Subscriber, 490,197 shares of Buyer Class A Common Stock at a per share price of $10.20 per share (the “Shares”), for an aggregate purchase price of $5,000,009.40 (the
“Purchase Price”). The purchase and sale of the Shares shall occur by the sixtieth (60th) day following the Closing (or if such sixtieth day is not a Business Day, by the next occurring Business Day) (the “Outside
Date”) (the “Subscription Closing Date”), following the satisfaction or waiver of the conditions set forth in this Subscription Agreement, at the offices of Cooley LLP, 3175 Hanover Street, Palo Alto, CA 94304, or such
other place as shall be determined by agreement between the Company and Subscriber. 
 1.2    On the Subscription
Closing Date, (i) the Company shall issue the Shares to Subscriber and cause the Shares to be registered in book-entry form in the name of Subscriber (or its nominee in accordance with Subscriber’s delivery instructions) on the
Company’s share register maintained by its registrar and transfer agent, and (ii) Subscriber shall deliver to the Company payment of the Purchase Price by wire transfer of immediately available funds to an account specified in writing by
the Company prior to the Subscription Closing Date. 
 1.3    If any change in the Company’s capitalization shall
occur between the date hereof and immediately prior to the Subscription Closing Date by reason of any reclassification, recapitalization, stock split (including reverse stock split) or combination, exchange or readjustment of shares, or any stock
dividend, the number and type of Shares issued to Subscriber shall be appropriately adjusted to reflect such change. 

 1.4    The parties hereby agree that the Shares shall constitute
“Registrable Securities,” and for the avoidance of doubt shall not constitute “TVAC Shares,” under that certain Amended and Restated Registration and Stockholder Rights Agreement, by and among the Company, Subscriber and certain
stockholders of the Company and unitholders of Inspirato, to be dated as of the Closing (the “Registration Rights Agreement”), as if held by Subscriber as of the date of the Registration Rights Agreement. 

 

	 	2.	 Collateral. 

2.1    Subject to the terms and conditions hereof, Subscriber hereby agrees that, from the date hereof through the earlier
of (i) the payment in full by Subscriber of the Purchase Price pursuant to Section 1 hereof and (ii) the close of business on the Outside Date, 1,000,000 shares of Buyer Class A Common Stock (received upon conversion of Buyer
Class B Common Stock at the Closing) held by Subscriber (the “Collateral Shares”) will be subject to restrictions on transfer, sale, lending, pledge or other disposition, subject to the provisions of this Section 2.
Subscriber hereby agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar against the transfer or disposition of the Collateral Shares as may be requested or instructed by the Company and
shall execute such other instruments, stock powers, instruction letters or other documents as the Company may reasonably request to enforce the restrictions set forth in this Section 2.1. Subscriber agrees that the Collateral Shares will be
registered on the books and records of the Company held by Computershare Trust Company, N.A. and Computershare Inc. (together, the “Transfer Agent”) in the name of Inspirato Incorporated for the benefit of Thayer Ventures
Acquisition Holdings LLC. 
 2.2    If the Purchase Price is paid in full by Subscriber prior to 5:00 P.M. Eastern
Daylight Time on the Outside Date, then all restrictions set forth in Section 2.1 will immediately lapse and terminate with respect to the Collateral Shares, and the Company shall promptly cause any stop transfer instructions or restrictive
legends to be removed from the Collateral Shares (other than any legends or instructions relating to the Securities Act of 1933, as amended) and cause the Transfer Agent to update the books and records of the Company so the shares are held directly
by Thayer Ventures Acquisition Holdings LLC, including delivering any necessary instruction letters, opinions or other documents to the Transfer Agent. 

2.3    If the Purchase Price has not been paid in full by Subscriber as of 5:00 P.M. Eastern Daylight Time on the Outside
Date, then Subscriber hereby automatically forfeits, without any further action required by any party, all the Collateral Shares. The parties agree that such forfeiture shall be the sole and exclusive remedy for failure of Subscriber to perform its
obligations under Section 1 hereof, and upon such forfeiture, Subscriber will have no further obligations under Section 1 hereof. 

3.          Forfeiture. Subject to the terms and conditions hereof, effective as of
immediately prior to the Closing, Subscriber hereby automatically forfeits, without any further action required by any party, 65,000 shares of Buyer Class B Common Stock held by Subscriber (the “Forfeited Shares”) (which number
shall be in addition to the 1,500,000 shares of Buyer Class B Common 

  
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Stock to be forfeited by Subscriber pursuant to the Sponsor Side Letter), and such Forfeited Shares shall be cancelled, cease to exist and shall no longer be outstanding, and following the
Closing, Subscriber shall have no right, title or interest to such Forfeited Shares. 
  

	 	4.	 Waiver. In consideration for the foregoing: 

4.1    Subscriber hereby irrevocably waives, on behalf of itself and any “TVAC Holder” (as defined in the
Registration Rights Agreement), the covenants set forth in Sections 5.1, 5.2 and 5.4 of the Registration Rights Agreement, to be effective as of the date of this Subscription Agreement. 

4.2    Inspirato hereby irrevocably waives, on behalf of itself and the Blockers, the condition set forth in
Section 11.3(c) of the Business Combination Agreement, to be effective as of the date of this Subscription Agreement. 

5.          Condition. The parties’ respective obligations under Sections 1, 2,
3 and 4 of this Subscription Agreement are subject to the consummation of the transactions contemplated in the Business Combination Agreement and the effectiveness of the waivers set forth in Section 4 hereof. 

6.          Termination. This Subscription Agreement shall terminate and be void and
of no further force and effect, and all rights and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earlier to occur of (i) such date and time as the
Business Combination Agreement is terminated in accordance with its terms or (ii) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement. 

 

	 	7.	 Miscellaneous. 

7.1    Each of Subscriber, Inspirato and the Company shall take, or cause to be taken, all actions and do, or cause to be
done, all things necessary, proper or advisable to consummate the transactions contemplated by this Subscription Agreement on the terms and conditions described herein. 

7.2    Expenses. Each of the parties hereto shall pay all of its own expenses in connection with this Subscription
Agreement and the transactions contemplated herein. 
 7.3    Notices. Any notice or communication required or
permitted hereunder shall be in writing and either delivered personally, emailed or sent by overnight mail via a reputable overnight carrier, or sent by certified or registered mail, postage prepaid, and shall be deemed to be given and received
(i) when so delivered personally, (ii) when sent, with no mail undeliverable or other rejection notice, if sent by email, or (iii) three (3) Business Days after the date of mailing to the address below or to such other address or
addresses as such person may hereafter designate by notice given hereunder: 

  
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 (i)    if to the Company (prior to the Closing) or Subscriber: 

Thayer Ventures Acquisition Corporation 

25852 McBean Parkway, Suite 508 

Valencia, CA 91355 
 Attention:
Mark Farrell 
 Email: mark@thayerventures.com 

with a required copy (which copy shall not constitute notice) to: 

Cooley LLP 
 1299 Pennsylvania
Avenue, NW, Suite 700 
 Washington, DC 20004 

Attention: Daniel Peale 
 John
McKenna 
 Email: dpeale@cooley.com 

jmckenna@cooley.com 

(ii)    if to the Company (following the Closing) or Inspirato, to: 

Inspirato LLC 
 1544 Wazee Street

 Denver, CO 80202 
 Attention:
Brent Handler 
 Brad Handler 

James Hnat 
 Email:
brent@inspirato.com 
 brad@inspirato.com 

jhnat@inspirato.com 
 with a
required copy (which copy shall not constitute notice) to: 
 Wilson Sonsini Goodrich & Rosati 

650 Page Mill Road 
 Palo Alto, CA
94304 
 Attention: Tony Jeffries 

Email: tjeffries@wsgr.com 

7.4     Entire Agreement. This Subscription Agreement constitutes the entire agreement, and supersedes all other
prior agreements, understandings, representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof. 

7.5    Modifications and Amendments. This Subscription Agreement may not be amended, modified or supplemented
except by an instrument in writing, signed by the party against whom enforcement of such amendment, modification or supplement is sought. 

7.6     Waivers and Consents. The terms and provisions of this Subscription Agreement may be waived, or consent for
the departure therefrom granted, only by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver 

  
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or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Subscription Agreement, whether or not similar. Each such waiver or
consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent. 

7.7    Assignment. Neither this Subscription Agreement nor any rights, interests or obligations that may accrue to
any party hereunder may be transferred or assigned without the written consent of the other parties hereto. 

7.8    Benefit. This Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto
and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon,
such heirs, executors, administrators, successors, legal representatives and permitted assigns. This Subscription Agreement shall not confer rights or remedies upon any person other than the parties hereto and their respective successors and
permitted assigns. 
 7.9    Governing Law. This Subscription Agreement, and any claim or cause of action
hereunder based upon, arising out of or related to this Subscription Agreement (whether based on law, in equity, in contract, in tort or any other theory) or the negotiation, execution, performance or enforcement of this Subscription Agreement,
shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the principles of conflicts of law thereof. 

7.10    Severability. If any provision of this Subscription Agreement shall be invalid, illegal or unenforceable,
the validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in full force and effect. 

7.11    No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right,
power or remedy under this Subscription Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single or partial exercise of any right, power or remedy under
this Subscription Agreement by a party hereto, nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other right, power
or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this Subscription Agreement
shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further action in any
circumstances without such notice or demand. 
 7.12    Headings and Captions. The headings and captions of the
various subdivisions of this Subscription Agreement are for convenience of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof. 

  
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 7.13    Counterparts. This Subscription Agreement may be executed
in one 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 any other form of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or on
whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, each of the Company, Inspirato (on behalf of itself and the
Company following the Closing) and Subscriber has executed or caused this Subscription Agreement to be executed by its duly authorized representative as of the date first set forth above. 

 

			
	THAYER VENTURES ACQUISITION CORP.
		
	By:	 	 /s/ Mark Ferrell

	Name:	 	Mark Farrell
	Title:	 	Co-CEO

  

			
	INSPIRATO LLC
		
	 By:
	 	 /s/ R. Webster Neighbor

	 Name:
	 	 R. Webster Neighbor

	 Title:
	 	 Chief Financial Officer

  

			
	THAYER VENTURES ACQUISITION HOLDINGS LLC
		
	By:	 	 /s/ Mark Ferrell

	Name:	 	Mark Farrell
	Title:	 	Managing Member

  
 7Exhibit 10.1 

 

PROMISSORY
NOTE

 

	$1,000,000.00	February 14, 2022

 

FOR VALUE RECEIVED, 5:01 Acquisition
Corp., a Delaware corporation (“Debtor”), hereby promises to pay to the order of 5:01 Acquisition LLC, a Delaware
limited liability company (“Lender”), at such address or such other place as the Lender pay from time to time
designate in writing, the principal sum of the lesser of (A) ONE MILLION DOLLARS ($1,000,000) (the “Initial Loan”),
or (B) the principal amount of loans outstanding hereunder, as conclusively evidenced on the grid attached hereto as Schedule
I (such principal balance of advances as reflected on Schedule I, including the Initial Loan, as of the date of
determination, the “Loans”). No Interest shall accrue or be payable on the Loans. All payments received by the
Lender hereunder will be applied first to costs of collection, if any, then the balance to principal. Principal shall be payable in lawful
money of the United States of America.

 

1.            Use
of Proceeds. The proceeds of the Loans shall be used by the Debtor to pay administrative costs and fees and expenses associated with
a potential business combination (“Business Combination”), including fees and expenses of Debtor’s auditors,
lawyers, accountants, and financial advisors.

 

2.            Repayment
of Principal. The unpaid principal on this Note shall be due and payable on the earlier of (i) the
winding up of Debtor if a Business Combination has not been consummated on or before the
24 month anniversary of the Closing of Debtor’s initial public offering (as the same may be extended from time to time by the vote
of the stockholders of Debtor) or (ii) the closing of a Business Combination
(the earlier of (i) and (ii), the “Maturity Date”).

 

3.            Advances;
Schedule I. The Lender may make additional advances of principal to the Debtor from time to time, which shall be reflected as “Loans”
on Schedule I. The Lender is hereby authorized by Debtor to enter and record on Schedule I attached hereto the amount of
each Loan made under this Note and each payment of principal thereon without any further authorization on the part of Debtor or any endorser
or guarantor of this Note. The entry of a Loan on said schedule shall be prima facie and presumptive evidence of the entered Loan and
its conditions. The Lender's failure to make an entry, however, shall not limit or otherwise affect the obligations of Debtor or any endorser
or guarantor of this Note.

 

4.            Loans
Due on Demand After the Maturity Date. Notwithstanding any terms in this Note to the contrary, the enumeration in this Note of specific
obligations of Debtor to the Lender and/or conditions to the availability of funds under this Note, nothing herein shall be construed
to qualify, define, or otherwise limit the Lender's right, power, or ability, at any time, under applicable law, to demand the payment
of all Loans outstanding under this Note within five (5) business days of written notice of such demand to the Debtor; provided,
however, that the Lender shall not make demand prior to the Maturity Date.

 

5.            Prepayment.
This Note may be prepaid in whole or in part at any time.

 

6.            Event
of Default. The occurrence of any of the following shall be deemed to be an event of default (an “Event of Default”)
hereunder: (a) default in payment of principal when and as the same shall become due pursuant to the terms hereof; or (b) the
default in the performance of any other obligation of Debtor to Lender, which default is not cured within ten (10) days after written
notice of such default from Lender.

 

     

     

    

 

Promissory Note -- Page 2

 

7.            Acceleration.
Upon the occurrence of an Event of Default and at the option of Lender exercisable upon notice to Debtor, the entire balance of principal
hereof shall become immediately due and payable.

 

8.            Attorneys’
Fees. Should suit be brought to enforce, interpret or collect any part of this Note, the prevailing party shall be entitled to recover,
as an element of the costs of suit and not as damages, reasonable attorneys’ fees and other costs of enforcement and collection
to be fixed by the court. The prevailing party shall be the party entitled to recover its costs of suit, regardless of whether such suit
proceeds to final judgment. A party not entitled to recover its costs shall not be entitled to recover attorneys’ fees. No sum for
attorneys’ fees shall be counted in calculating the amount of a judgment for purposes of determining if a party is entitled to recover
costs or attorneys’ fees.

 

9.            Jurisdiction.
This Note shall be construed and enforced in accordance with the internal laws of the State of California. Lender and Debtor hereby agree
that any suit to enforce any provision of, or to collect, this Note shall be brought in a federal or state court located in the State
of California. Each party hereby agrees that such courts shall have exclusive in personam jurisdiction and venue with respect to such
party, and each party hereby submits to the in personam jurisdiction and venue of such courts.

 

10.            Obligation
Unconditional. No provision of this Note or any other agreement shall alter, impair or render conditional the obligation of Debtor,
which is absolute and unconditional, to pay the principal on this Note at the place, at the respective times, and in the currency herein
prescribed.

 

11.            Waiver.
Debtor hereby waives presentment, protest, demand for payment, notice of dishonor, and any and all other notices or demands in connection
with the delivery, acceptance, performance, default, or enforcement of this Note, and hereby consents to any delays, extensions of time,
renewals, waivers or modifications that may be granted or consented to by the holder hereof in respect of the time of payment or other
provisions of this Note.

 

12.            Amendment.
Any term or provision of this Note may be amended, and the observance of any term of this Note may be waived (either generally or in a
particular instance and either retroactively or prospectively) only by a writing signed by the Lender. The waiver by the Lender of any
breach hereof for default in payment of any amount due hereunder or default in the performance hereof shall not be deemed to constitute
a waiver of any succeeding breach or default.

 

13.            Severability.
In the event any one or more of the provisions of this Note shall for any reason be held to be invalid, illegal or unenforceable, in whole
or in part or in any respect, or in the event that any one or more of the provisions of this Note operate or would prospectively operate
to invalidate this Note, then and in any such event, such provision(s) only shall be deemed null and void and shall not affect any
other provision of this Note and the remaining provisions of this Note shall remain operative and in full force and effect and in no way
shall be affected, prejudiced, or disturbed thereby.

 

	 	DEBTOR:

 

	 	5:01 ACQUISITION CORP.
	 	 
	 	/s/ Andrew Schwab
	 	Name:  Andrew Schwab
	 	Title:    Co-CEO

 

     

     

    

 

Schedule I

 

	
     

     Date of Loan
	
     

    

    Amount of Loan
	Amount of Principal Repaid	Unpaid Principal of Note	Person Making Notation

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