SEC Contract Filing

Filing Date: 2022-11-14

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex_446515.htm
<DESCRIPTION>EXHIBIT 10.2
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<p style="margin: 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.2</b></font></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 112pt;text-indent:-85pt;"><b>CONVERTIBLE PROMISSORY NOTE</b></p>

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 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Effective Date: October 6th, 2022.&nbsp;</p>
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 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">U.S. $50,000</p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 6pt;">FOR VALUE RECEIVED, FUSE GROUP HOLDING INC., a Nevada corporation (&#8220;<b>Borrower</b>&#8221;), promises to pay to Liu Marketing (M) SDN BHD, a corporation registered in Malaysia, (&#8220;<b>Lender</b>&#8221;),&nbsp;$50,000 on the date that is twenty-four (24) months after the Purchase Price Date (the &#8220;<b>Maturity Date</b>&#8221;) in accordance with the terms set forth herein and to pay interest on the Outstanding Balance at the rate of three percent (3%) per annum from the Purchase Price Date until the same is paid in full. All interest calculations hereunder shall be computed on the basis of a 365-day year, shall be payable in accordance with the terms of this Note. This Convertible Promissory Note (this &#8220;<b>Note</b>&#8221;) is issued and made effective as of October 6th, 2022 (the &#8220;<b>Effective Date</b>&#8221;). This Note is issued pursuant to that certain Convertible Note Purchase Agreement dated October 6th, 2022, as the same may be amended from time to time, by and between Borrower and Lender (the &#8220;<b>Purchase Agreement</b>&#8221;). Certain capitalized terms used herein are defined in <u>Attachment 1</u> attached hereto and incorporated herein by this reference.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 6pt;text-indent:35pt;">The purchase price for this Note shall be $50,000 (the &#8220;<b>Purchase Price</b>&#8221;) in original principal balance. The Purchase Price shall be payable by Lender by wire transfer of immediately available funds in&nbsp;U.S. Dollars to the designated account by the Borrower.</p>

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 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">1.</p>
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 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>Payment; Prepayment</u>.</p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 6pt;text-indent:71pt;">1.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment</u>. All payments owing hereunder shall be in lawful money of the United States of America or Conversion Shares (as defined below), as provided for herein, and delivered to Lender at the address or bank account furnished to Borrower for that purpose.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 6pt;text-indent:71pt;">1.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Prepayment</u>. Notwithstanding the foregoing, Borrower shall have the right to prepay all or any portion of the Outstanding Balance.</p>

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 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">2.</p>
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 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>Lender Optional Conversion</u>.</p>
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