Document:

EX-10.7

 Exhibit 10.7 

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: Up to 250,000	  	Dated as of October 25, 2021

 Atlantic Coastal Acquisition Corp. II, a Delaware corporation and blank check company (the
“Maker”), promises to pay to the order of Atlantic Coastal Acquisition Management II LLC, or its registered assigns or successors in interest (the “Payee”), or order, the principal sum of up to Two Hundred Fifty
Thousand Dollars ($250,000) in lawful money of the United States of America, on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by
the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note. 

1. Principal. The principal balance of this Note shall be payable by the Maker on the earlier of: (i) April 30, 2022 or
(ii) the date on which Maker consummates an initial public offering of its securities (the “IPO”). The principal balance may be prepaid at any time. Under no circumstances shall any individual, including but not limited to any
officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder. 

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

3. Drawdown Requests. Maker and Payee agree that Maker may request up to Two Hundred Fifty Thousand Dollars ($250,000) for costs
reasonably related to the IPO, (which amount shall include the $50,000 funded to date by the Payee or its affiliates). The principal of this Note may be drawn down from time to time prior to the earlier of: (i) April 30, 2022 or
(ii) the date on which Maker consummates the IPO, 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) 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 Two Hundred Fifty Thousand Dollars ($250,000). 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. Notwithstanding the foregoing, 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 attorneys’ fees, and then to the reduction of 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 (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) Upon the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note
to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which
are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding. 
 (b) Upon
the occurrence of an Event of Default specified in Sections 5(b) 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. 
 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 IPO to be conducted by the Maker (including the deferred
underwriters discounts and commissions) and the proceeds of the sale of the securities 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] 

 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. 
  

			
	ATLANTIC COASTAL ACQUISITION CORP. II
		
	By:	 	 /s/ Shahraab Ahmad

		 	Name: Shahraab Ahmad
		 	Title:   Chairman and Chief Executive OfficerExhibit 4.1

 

	NUMBER	UNITS
	 	 
	WTMACU	CUSIP 950415 208

 

WELSBACH TECHNOLOGY METALS ACQUISITION CORP.

 

SEE REVERSE FOR CERTAIN DEFINITIONS 

 

UNITS CONSISTING OF ONE SHARE OF COMMON STOCK
AND

 

ONE RIGHT TO RECEIVE ONE-TENTH OF ONE SHARE
OF COMMON STOCK

 

THIS CERTIFIES THAT ___________________________________________________
is the owner of ____________________________________________________________ Units.

 

Each Unit (“Unit”)
consists of one (1) share of common stock, par value $0.0001 per share (“Common Stock”), of Welsbach Technology Metals Acquisition
Corp., a Delaware corporation (the “Company”) and one right (“Right”). Every ten (10) Rights entitles the holder
thereof to receive one (1) share of Common Stock upon the consummation of an the Company’s completion of a merger, stock exchange,
asset acquisition, stock purchase, reorganization or other similar business combination (“Business Combination”). The shares
of Common Stock and Rights comprising the Units represented by this certificate are not transferable separately prior to the 30th day
after the date of the prospectus relating to the closing of the Company’s initial public offering (“IPO”), subject to
earlier separation in the discretion of Chardan Capital Markets, LLC, provided that the Company has filed with the Securities and Exchange
Commission a Current Report on Form 8-K which includes an audited balance sheet reflecting the Company’s receipt of the gross proceeds
of the IPO and issued a press release announcing when separate trading will begin. The terms of the Rights are governed by a rights agreement
(the “Rights Agreement”), dated as of [●], 2021, between the Company and Continental Stock Transfer & Trust Company,
as the rights agent, and is subject to the terms and provisions contained therein, all of which terms and provisions the holder of this
certificate consents to by acceptance hereof. A copy of the Rights Agreement is on file at the office of Continental Stock Transfer &
Trust Company at 1 State Street, New York, New York 10004 and is available to Rights holder on written request and without cost.

 

This certificate is not valid
unless countersigned by the Transfer Agent and Registrar of the Company.

 

Witness the facsimile seal of the Company and the
facsimile signatures of its duly authorized officers.

 

	By:	 	 	 	 
	 	 	 	 	 
	 	Chairman of the Board	 	Chief Executive Officer	 

 

     

     

    

 

Welsbach Technology Metals Acquisition Corp.

 

The Company will furnish without
charge to each stockholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional
or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations, or restrictions of
such preferences and/or rights.

 

The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to
applicable laws or regulations:

 

	TEN COM	       —       	as tenants in common
	 	 	 
	TEN ENT	       —       	as tenants by the entireties
	 	 	 
	JT TEN	       —       	as joint tenants with right of survivorship and not as tenants in common

 

	UNIF GIFT MIN ACT              —		Custodian 	
	 	(Cust)	(Minor)

 

	 	under Uniform Gifts to Minors Act
	 	(State)
	 	 	 

Additional abbreviations may also be used though
not in the above list.

  

For value received, ___________________________
hereby sell, assign and transfer unto

 

    2

     

    

 

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE

 

	
     

     

 

 

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING
ZIP CODE, OF ASSIGNEE)

 

_________________________________Units
represented by the within Certificate, and do hereby irrevocably constitute and appoint

 

__________________________________Attorney
to transfer the said Units on the books of the within named Company will full power of substitution in the premises.

 

	Dated ________________	 
		Notice:	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.
	 	 	 
	Signature(s) Guaranteed:	 	 
	 	 
	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).	 

 

The holder(s) of this certificate shall be entitled to receive
a pro-rata portion of the funds from the trust account with respect to the common stock underlying this certificate only in the event
that (i) the Company is forced to liquidate because it does not consummate an initial business combination within the period of time
set forth in the Company’s Amended and Restated Certificate of Incorporation, as the same may be amended from time to time (the
“Charter”) or (ii) if the holder seeks to convert his or her shares upon consummation of, or sell his or her shares in a
tender offer in connection with, an initial business combination or in connection with certain amendments to the Charter. In no other
circumstances shall the holder(s) have any right or interest of any kind in or to the trust account.

 

 

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