SEC Contract Filing

Filing Date: 2023-06-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>ea181010ex10-1_cfacq4.htm
<DESCRIPTION>PROMISSORY NOTE ISSUED TO THE SPONSOR
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS PROMISSORY NOTE (&ldquo;NOTE&rdquo;) HAS
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;) OR UNDER THE SECURITIES LAWS OF ANY
STATE.&nbsp;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 AND APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN
FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PROMISSORY NOTE</B></P>

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 <TD STYLE="width: 43%; text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated as of June 22, 2023</FONT></TD></TR>
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 <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Principal Amount:&nbsp; Up to $1,350,000</FONT></TD>
 <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, New York</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">CF Acquisition Corp. IV,&nbsp;a
Delaware corporation (&ldquo;<B>Maker</B>&rdquo;), hereby promises to pay to the order of CFAC Holdings IV, LLC (&ldquo;<B>Payee</B>&rdquo;)
or its registered assigns or successors in interest, the principal sum of up to One Million Three Hundred Fifty Thousand Dollars($1,350,000)
in lawful money of the United States of America, on the terms and conditions described below.&nbsp;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. This Note is being made in connection with the
extension of Maker&rsquo;s termination date from June 28, 2023 to March 28, 2024 (or such earlier date as determined by the board of directors
of Maker) (the &ldquo;<B>Extension</B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>1.&nbsp;Principal.&nbsp;</B>The
principal balance of this Note shall be payable by Maker on the earlier of (a) the date on which Maker consummates its initial business
combination (the &ldquo;<B>Business Combination</B>&rdquo;), or (b) the date of the liquidation of the Maker.&nbsp;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.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.&nbsp;Interest.</B>&nbsp;No
interest shall accrue or be charged by Payee on the unpaid principal balance of this Note.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>3.&nbsp;Drawdown
Requests.&nbsp;</B>The Payee will fund up to an aggregate of $1,350,000 into the trust account of Maker established in connection with
its initial public offering (the &ldquo;<B>Trust Account</B>&rdquo;), such amounts to be for the benefit of the holders of Maker&rsquo;s
unredeemed shares of Class A common stock upon redemption or liquidation of Maker in accordance with Maker&rsquo;s amended and restated
certificate of incorporation, as amended. The principal of this Note may be drawn down monthly in nine equal amounts of $150,000, between
the 21<SUP>st</SUP>&nbsp;and the 28<SUP>th</SUP> of each of June 2023 through March 2024, up until the date on which Maker consummates
its Business Combination, upon request from Maker to the Payee (each, a &ldquo;<B>Drawdown Request</B>&rdquo;). Each Drawdown Request
must be made before the 28<SUP>th</SUP> of each applicable monthly period, and state the amount to be drawn down. The Payee, in its sole
discretion, shall fund each Drawdown Request via a wire transfer directly to the Trust Account within seven days of each applicable monthly
period;&nbsp;<I>provided, however,</I>&nbsp;that the maximum amount of drawdowns collectively under this Note shall not exceed $1,350,000.
Once an amount is drawn down under this Note, it shall not be available for future Drawdown Requests. Except as set forth herein, no fees,
payments or other amounts shall be due to the Pa