Document:

Exhibit 10.6

 

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

 

PROMISSORY NOTE

 

	Principal Amount:  $300,000	 Dated as of December 17, 2020

 

Ark Global Acquisition
Corp., a Delaware corporation (“Maker”), promises to pay to the order of Ark Sponsors LLC, a Delaware
limited liability company, or its registered assigns or successors in interest (“Payee”), or order, the
principal sum of Three Hundred Thousand Dollars ($300,000) or such lesser amount as shall have been advanced to Maker by Payee
and remain unpaid under this Note on the Maturity Date (as defined below) in lawful money of the United States of America, on the
terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately available
funds or as otherwise determined by Maker to such account as Payee may from time to time designate by written notice in accordance
with the provisions of this Note.

 

1.                  
Principal. The entire unpaid principal balance of
this Note shall be payable on the earlier of: (i) December 31, 2021 or (ii) the date on which Maker consummates an initial public
offering of its securities (such earlier date, the “Maturity Date”). The principal balance may be prepaid
at any time. Under no circumstances shall any individual, including but not limited to any officer, director, employee or stockholder
of Maker, be obligated personally for any obligations or liabilities of Maker hereunder.

 

2.                  
Drawdown Requests. Maker and Payee agree that Maker
may request, from time to time, up to Three Hundred Thousand Dollars ($300,000) in drawdowns under this Note to be used for costs
and expenses related to Maker’s formation and the proposed initial public offering of its securities (the “IPO”).
Principal of this Note may be drawn down from time to time prior to the Maturity Date upon written request from Maker to Payee
(each, a “Drawdown Request”). Each Drawdown Request must state the amount to be drawn down, and must
not be an amount less than Ten Thousand Dollars ($10,000). Payee shall fund each Drawdown Request no later than three (3) business
days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns outstanding under
this Note at any time may not exceed Three Hundred Thousand Dollars ($300,000). No fees, payments or other amounts shall be due
to Payee in connection with any Drawdown Request by Maker.

 

3.                  
Interest. No interest shall accrue on the unpaid
principal balance of this Note.

 

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 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)               
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 immediately due and payable, whereupon the unpaid principal amount of this Note, and all other amounts
payable hereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all
of which are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

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

 

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

 

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

 

9.                   Notices.
All notices, statements or other documents which are required or contemplated by this Note shall be: (i) in writing and
delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile or
electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such
party or such other address or fax number as may be designated in writing by such party and (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.

 

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10.              
Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

 

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

 

12.              
Trust Waiver. Notwithstanding anything herein to
the contrary, Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”) in
or to any distribution of or from the trust account to be established in which the proceeds of the IPO conducted by Maker (including
the deferred underwriters discounts and commissions) and the proceeds of the sale of the warrants issued in a private placement
to occur prior to the consummation 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 Maker and 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]

 

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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.

 

	 	ARK GLOBAL ACQUISITION CORP.
	 	 
	 	By:   	                                                               
	 	Name: Richard Williams
	 	Title: Chief Executive Officer and President

 

Signature Page to Promissory NoteExhibit 10.7

 

	ark global ACQUISITION CORP.

 

4235 Hillsboro Pike, Suite 300

Nashville, Tennessee 37215

 

December 17, 2020

Ark Sponsors LLC

4235 Hillsboro Pike

Nashville, TN 37215

 

RE:      Securities Subscription Agreement

 

Ladies and Gentlemen:

 

Ark Global Acquisition
Corp., a Delaware corporation (the “Company,” “we” or “us”),
is pleased to accept the offer made by Ark Sponsors LLC, a Delaware limited liability company (“Subscriber”
or “you”), to purchase 7,187,500 shares (the “Shares”) of Class B common stock
of the Company, par value $0.0001 per share (“Common Stock”), up to 937,500 of which are subject to forfeiture
by you to the extent that the underwriters of the initial public offering (“IPO”) of the Company’s
units, each comprised of one share of Common Stock and one, or a portion of one, warrant to purchase one share of Common Stock
(“Units”), do not fully exercise their option to purchase additional Units to cover over-allotments,
if any (the “Over-allotment Option”). The terms of the sale by the Company of the Shares to Subscriber,
and the Company and Subscriber’s agreements regarding the Shares, are as follows:

 

1.            
Purchase of Securities. For the sum of Twenty-Five Thousand Dollars ($25,000.00) (the “Purchase Price”),
which the Company acknowledges receiving in cash, the Company hereby issues the Shares to Subscriber, and Subscriber hereby purchases
the Shares from the Company, on the terms and subject to the conditions, including regarding forfeiture, set forth in this letter
agreement (this “Agreement”).  Concurrently with Subscriber’s
execution of this Agreement, the Company shall, at its option, deliver to Subscriber a certificate registered in Subscriber’s
name representing the shares (the “Original Certificate”) or effect such delivery in book-entry form.

 

2.            
Representations, Warranties and Agreements.

 

2.1.         
Subscriber’s Representations, Warranties and Agreements. To induce the Company to issue the Shares to Subscriber,
Subscriber hereby represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1.       
Organization and Authority. Subscriber is a limited liability company, duly organized, validly existing and in good
standing under the laws of State of Delaware, and possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement. This Agreement is a legal, valid and binding agreement of Subscriber, enforceable against Subscriber
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance
or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless
of whether enforcement is sought in a proceeding at law or in equity).

 

2.1.2.        No
Conflicts; No Consents. The execution, delivery and performance by Subscriber of this Agreement does not, and the
consummation by Subscriber of the transactions contemplated hereby will not, (a) violate, conflict with or constitute a
default under the formation, governing or other organizational documents of Subscriber, (b) violate, conflict with or
constitute a default under any agreement, indenture or instrument to which Subscriber is a party, (c) violate, conflict with
or constitute a default under any law, statute, rule, regulation, order, judgment or decree to which Subscriber is subject,
or (d) require the consent or approval of any governmental, administrative or other third-party.

 

     

     

    

 

2.1.3.       
Experience, Financial Capability and Suitability. Subscriber has such knowledge, skill and experience in business,
financial and investment matters that it is capable of evaluating the merits and risks of an investment in the Shares. Subscriber
acknowledges that the Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from
such registration requirements is available. Subscriber understands that it must bear the economic risk of this investment until
the Shares are sold pursuant to: (a) an effective registration statement under the Securities Act; or (b) an exemption from such
registration requirements is available with respect to such sale. Subscriber is able to bear the economic risk of an investment
in the Shares for an indefinite period of time and to afford a complete loss of Subscriber’s investment in the Shares.

 

2.1.4.       
No Government Recommendation or Approval. Subscriber understands that no federal or state agency has passed upon
or made any recommendation or endorsement of the offering of the Shares.

 

2.1.5.       
Access to Information; Independent Investigation. Prior to the execution of this Agreement, Subscriber has had the
opportunity to ask questions of and receive answers from representatives of the Company concerning an investment in the Company,
as well as the financial condition, business and prospects of the Company, and the opportunity to obtain additional information
to verify the accuracy of all information so obtained. In determining whether to make this investment, Subscriber has relied solely
on Subscriber’s own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence
investigation. Subscriber understands that no person has been authorized to make any representations on behalf of the Company other
than as set forth in this Agreement and Subscriber has not relied on any other written or oral representations relating to the
financial condition, business and prospects of the Company in making its investment decision.

 

2.1.6.       
Investment Representations. Subscriber represents that it is an “accredited investor” as such term is
defined in Rule 501(a) of Regulation D under the Securities Act and acknowledges the sale contemplated hereby is being made in
reliance on the private placement exemption in Section 4(a)(2) of the Securities Act and Regulation D and similar exemptions under
state law. Subscriber is purchasing the Shares solely for investment purposes, for Subscriber’s own account and not for the
account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. Subscriber did not
decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502
under the Securities Act.

 

2.1.7.        Restrictions
on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a public
offering within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted
securities” within the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the
certificates or book-entries representing the Shares will contain a legend or notation in respect of such restrictions. If,
in the future, Subscriber decides to offer, resell, pledge or otherwise transfer the Shares, such Shares may be offered,
resold, pledged or otherwise transferred only pursuant to: (a) an effective registration statement under the Securities Act;
or (b) an exemption from registration available with respect to such offer, sale, pledge or other transfer. Subscriber agrees
that if any transfer of its Shares or any interest therein is proposed to be made, as a condition precedent to any such
transfer, Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent
registration or available exemption, Subscriber agrees not to resell the Shares. Subscriber further acknowledges that because
the Company is a shell company, Rule 144 may not be available to Subscriber for the resale of the Shares until one year
following consummation of the initial business combination of the Company, despite the release or waiver of any contractual
transfer restrictions.

 

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2.1.8.       
No Brokers. No broker, finder or other financial consultant has acted on behalf of Subscriber in connection with
this Agreement or the transactions contemplated hereby in such a way as to create any liability for the Company.

 

2.2.         
Company’s Representations, Warranties and Agreements. To induce Subscriber to purchase the Shares, the Company
hereby represents and warrants to Subscriber and agrees with Subscriber as follows:

 

2.2.1.       
Organization and Authority. The Company is a corporation, duly organized, validly existing and in good standing under
the laws of the State of Delaware, and possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement. This Agreement is a legal, valid and binding agreement 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 or similar
laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless of
whether enforcement is sought in a proceeding at law or in equity).

 

2.2.2.       
No Conflicts. The execution, delivery and performance by the Company of this Agreement does not, and the consummation
by the Company of the transactions contemplated hereby will not, (a) violate, conflict with or constitute a default under the formation,
governing or other organizational documents of the Company, (b) violate, conflict with or constitute a default under any agreement,
indenture or instrument to which the Company is a party, (c) violate, conflict with or constitute a default under any law, statute,
rule, regulation, order, judgment or decree to which the Company is subject, or (d) require the consent or approval of any governmental,
administrative or other third-party.

 

2.2.3.       
Title to Securities. Upon issuance in accordance with, and payment of the Purchase Price pursuant to, the terms hereof,
(a) the Shares will be duly and validly issued, fully paid and nonassessable; and (b) Subscriber will have or receive good title
to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder
and other agreements to which the Shares may become subject, (ii) transfer restrictions under federal and state securities laws,
and (iii) liens, claims or encumbrances imposed due to the actions of Subscriber.

 

2.2.4.       
No Brokers. No broker, finder or other financial consultant has acted on behalf of the Company in connection with
this Agreement or the transactions contemplated hereby in such a way as to create any liability for Subscriber.

 

3.            
Forfeiture of Shares.

 

3.1.          Partial
or No Exercise of the Over-allotment Option. In the event the Over-allotment Option is not exercised in full, Subscriber
acknowledges and agrees that it (or, if applicable, it and/or any transferees of Shares) shall forfeit any and all rights to
such number of Shares (up to an aggregate of 937,500 Shares (as such amount may be adjusted for share splits, share
dividends, reorganizations, recapitalizations and the like) and pro rata based upon the percentage of the Over-allotment
Option exercised) such that immediately following such forfeiture, Subscriber (and all other initial stockholders of the
Company prior to the IPO, if any) will own an aggregate number of Shares equal to 20% of the issued and outstanding Shares
immediately following the IPO.

 

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3.2.         
Termination of Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 3, then
after such time Subscriber (or its successor in interest), shall no longer have any rights as a holder of such forfeited Shares,
and the Company shall take such action as is appropriate to cancel such forfeited Shares.

 

3.3.         
Share Certificates. In the event an adjustment to the Original Certificates,
if any, is required pursuant to this Section 3, then Subscriber shall return such Original Certificates to the Company or its designated
agent as soon as practicable upon its receipt of notice from the Company advising Subscriber of such adjustment, following which
a new certificate (the “New Certificate”), if any, shall be issued in such amount representing the adjusted
number of Shares held by Subscriber. The New Certificate, if any, shall be returned to Subscriber as soon as practicable. Any such
adjustment for any uncertificated securities held by Subscriber shall be made in book-entry form.

 

4.            
Waiver of Redemption Rights. Subscriber hereby waives any and all rights to redeem the Shares for a portion of the
amounts held in the trust account into which substantially all of the proceeds of the IPO will be deposited (the “Trust
Account”) in the event of (i) the Company’s failure to timely complete an initial business combination, (ii)
an extension of the time period to complete an initial business combination or (iii) upon the consummation of an initial business
combination. For purposes of clarity, in the event Subscriber purchases shares of Common Stock included in the Units issued in
the IPO (“Public Shares”), either in the IPO or in the aftermarket, any Public Shares so purchased shall
be eligible to be redeemed for a portion of the amounts held in the Trust Account in the event of the Company’s failure to
timely complete an initial business combination (but, for the avoidance of doubt, not in connection with an extension of the time
period to complete an initial business combination or upon the consummation of an initial business combination).

 

5.            
Restrictions on Transfer.

 

5.1.         
Securities Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement
(commonly known as an “Insider Letter”) to be dated as of the closing of the IPO by and between Subscriber
and the Company (which will also contain other agreements with respect to the Shares), Subscriber agrees not to sell, transfer,
pledge, hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto, (a) a registration statement on
the appropriate form under the Securities Act and applicable state securities laws with respect to the Shares proposed to be transferred
shall then be effective or (b) the Company has received an opinion from counsel, reasonably satisfactory to the Company, that registration
is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated by the
Securities and Exchange Commission thereunder and all applicable state securities laws.

 

5.2.        
Restrictive Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as
follows (and any book-entries representing the Shares shall have similar notations):

 

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

 

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“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER SET FORTH IN A LETTER AGREEMENT WITH THE COMPANY (A COPY OF
WHICH MAY BE OBTAINED FROM THE COMPANY AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE) AND MAY NOT BE OFFERED,
SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN VIOLATION OF SUCH RESTRICTIONS.”

 

5.3.         
Additional Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration
of an extraordinary dividend payable in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio,
a recapitalization or a similar transaction affecting the Company’s outstanding Shares without receipt of consideration,
any new, substituted or additional securities or other property which are by reason of such transaction distributed with respect
to any Shares subject to this Section 5 or into which such Shares thereby become convertible shall immediately be subject to this
Section 5 and Section 3 hereof. Appropriate adjustments to reflect the distribution of such securities or property shall be made
to the number and/or class of Shares subject to this Section 5 and Section 3.

 

6.            
Other Agreements.

 

6.1.          
Further Assurances. Subscriber agrees to execute such further instruments and to take such further action as may
reasonably be necessary to carry out the intent of this Agreement.

 

6.2.         
Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be
in writing and delivered (a) personally or by certified mail (return receipt requested) or overnight courier service or (b) by
electronic mail, if to the Company, at any electronic mail address as may be designated in writing by the Company and, if to Subscriber,
at any electronic mail address as may be designated in writing by Subscriber, or to such other electronic mail addresses as may
be designated in writing by the Company or Subscriber. All such notices, statements or other documents shall be deemed received
on the date of receipt by the recipient thereof if received prior to 8:00 p.m. on a business day in the place of receipt. Otherwise,
any such notices, statements or other documents shall be deemed to have been received on the next succeeding business day in the
place of receipt.

 

6.3.          
Entire Agreement. This Agreement, together with the Insider Letter and the registration rights agreement to be entered
into with respect to the Shares, each substantially in the form to be filed as an exhibit to the Registration Statement on Form
S-1 associated with the Company’s IPO, embodies the entire agreement and understanding between Subscriber and the Company
with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the
subject matter hereof. No statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this
Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement.

 

6.4.         
Modifications and Amendments. The terms and provisions of this Agreement may be modified or amended only by written
agreement executed by all parties hereto.

 

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6.5.         
 Waivers and Consents. The terms and provisions of this 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 written
waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of
this Agreement, whether or not similar. Each such written 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.

 

6.6.         
Assignment. The rights and obligations under this Agreement may not be assigned by either party hereto without the
prior written consent of the other party.

 

6.7.         
Benefit. All statements, representations, warranties, covenants and agreements in this Agreement shall be binding
on the parties hereto and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing
in this Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or entity
shall be regarded as a third-party beneficiary of this Agreement.

 

6.8.         
Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance
with and governed by the laws of the State of Delaware applicable to contracts wholly performed within the borders of such state,
without giving effect to the conflict of law principles thereof.

 

6.9.         
Severability. In the event that any court of competent jurisdiction shall determine that any provision, or any portion
thereof, contained in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed
limited to the extent that such court deems it reasonable and enforceable, and, as so limited, shall remain in full force and effect.
In the event that such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions
of this Agreement shall nevertheless remain in full force and effect.

 

6.10.       
Survival of Representations and Warranties. All representations and warranties made by the parties hereto in this
Agreement or in any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution
and delivery hereof and any investigations made by or on behalf of the parties.

 

6.11.       
No Broker or Finder. Each party agrees to indemnify and hold harmless the other party from and against any claim
or demand for commission or other compensation made against such other party by any broker, finder, financial consultant or similar
agent claiming to have been employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending
against any such claim.

 

6.12.       
Counterparts. This Agreement may be executed in one or more counterparts, each of which when so executed and delivered
shall be deemed to be an original and all of which together shall be deemed to be one and the same agreement. In the event that
any signature is delivered in pdf format via electronic mail, 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.

 

6.13.        Mutual
Drafting; Headings and Captions; Construction. The parties hereto have participated jointly in the negotiation and
drafting of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement will be construed
as if drafted jointly by the parties hereto and no presumption or burden of proof will arise favoring or disfavoring any
party hereto because of the authorship of any provision of this Agreement. The headings and captions of the various
subdivisions of this 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. The words “include,” “includes,”
and “including” will be deemed to be followed by “without limitation.” Pronouns in
masculine, feminine, and neuter genders will be construed to include any other gender, and words in the singular form will be
construed to include the plural and vice versa, unless the context otherwise requires. The words “this
Agreement,” “herein,” “hereof,” “hereby,”
 “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular
subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained
herein will have independent significance. If any party hereto has breached any representation, warranty, or covenant
contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to the same
subject matter (regardless of the relative levels of specificity) which such party hereto has not breached will not detract
from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant.

 

[Signature Page Follows]

 

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If the foregoing accurately
sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

 

	 	Very truly yours,
	 	 
	 	ARK GLOBAL ACQUISITION
    CORP.
	 	 
	 	By: 	            

	 	Name:  	Steven Krenzer
	 	Title:	Chief Financial Officer, Treasurer and Secretary

 

	 	 
	 	 
	ACCEPTED and AGREED as	 
	of the date first written above.	 
	 	 
	ARK SPONSORS LLC	 
	 	 
	By:	        	 

	Name:  	Richard Williams	 
	Title:	Authorized Person	 

 

Signature Page to Securities Subscription Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}]]