SEC Contract Filing

Filing Date: 2024-01-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>ea191542ex10-1_ocaacq.htm
<DESCRIPTION>PROMISSORY NOTE, DATED JANUARY 11, 2024, BETWEEN OCA AND THE SPONSOR
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<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 10.1</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS PROMISSORY NOTE (THIS &ldquo;<B>NOTE</B>&rdquo;)
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;<B>SECURITIES ACT</B>&rdquo;). 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 MAKER THAT SUCH REGISTRATION IS NOT REQUIRED.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
 <TR STYLE="vertical-align: top">
 <TD STYLE="width: 50%; padding-left: 10pt; font-size: 10pt; text-indent: -10pt">Total Principal Amount: up to $1,080,000</TD>
 <TD STYLE="width: 50%; padding-left: 10pt; font-size: 10pt; text-align: right; text-indent: -10pt">Dated as of January 11, 2024</TD></TR>
 </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">(as set forth on the Schedule
of Borrowings attached hereto)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">OCA Acquisition Corp., a Delaware
corporation and blank check company (the &ldquo;<B>Maker</B>&rdquo;), promises to pay to the order of OCA Acquisition Holdings LLC, a
Delaware limited liability company, or its registered assigns or successors in interest (the &ldquo;<B>Payee</B>&rdquo;), the Total Principal
Amount (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 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. <B>Principal</B>. The initial
principal balance of this Note of $90,000, funded within five (5) business days of the date hereof by the Payee (the &ldquo;<B>Initial
Principal Amount</B>&rdquo;), together with any funds drawn down by the Maker following the date hereof pursuant to <U>Section 3</U> below
(together with the Initial Principal Amount, the &ldquo;<B>Total Principal Amount</B>&rdquo;) shall be due and payable on the consummation
of the Maker&rsquo;s initial merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business
combination with one or more businesses or entities (a &ldquo;<B>Business Combination</B>&rdquo;). The Payee understands that if a Business
Combination is not consummated, this Note will be repaid solely to the extent that the Maker has funds available to it outside of its
trust account established in connection with its initial public offering of its securities (the &ldquo;<B>Trust Account</B>&rdquo; and
such offering, the &ldquo;<B>IPO</B>&rdquo;), and that all other amounts will be contributed to capital, forfeited, eliminated or otherwise
forgiven or eliminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2. <B>Interest</B>. No interest
shall accrue on the unpaid principal balance of this Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3. <B>Drawdown Requests</B>.
Maker and Payee agree that Maker may request an additional aggregate amount of up to $990,000 (the &ldquo;<B>Maximum Drawdown Amount</B>&rdquo;),
which may be drawn down in eleven equal tranches <FONT STYLE="background-color: white">(each a &ldquo;</FONT><B>Drawdown Request</B><FONT STYLE="background-color: white">&rdquo;).
Each Drawdown Request must be for $90,000 unless agreed upon by Maker and Payee. Payee shall fund each Drawdown Request no later than
three (3) business days after receipt of a Drawdown Request</FONT>. Once an amount is drawn down under this Note, it shall not be available
for future Drawdown Requests even if prepaid. No <FONT STYLE="background-color: white">fees, payments or other amounts shall be due to
Payee in connection with, or as a result of, any Drawdown Request by the Maker.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4. <B>Application of Payments</B>.
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) reasona