SEC Contract Filing

Filing Date: 2022-03-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea156930ex10-1_gesher1.htm
<DESCRIPTION>PROMISSORY NOTE DATED MARCH 15, 2022
<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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>PROMISSORY
NOTE</U></FONT></P>

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 <TD STYLE="width: 50%; font-size: 10pt">$450,000.00</TD>
 <TD STYLE="text-align: right; width: 50%; font-size: 10pt">As of March 15, 2022</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gesher
I Acquisition Corp. (&ldquo;<U>Maker</U>&rdquo;) promises to pay to the order of Gesher I Sponsor, LLC or its successors or assigns (&ldquo;<U>Holder</U>&rdquo;)
the principal sum of Four Hundred Fifty Thousand Dollars and No Cents ($450,000.00) in lawful money of the United States of America,
on the terms and conditions described below.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1. <U>Principal</U>.
The principal balance of this Note shall be repayable on the consummation of the Maker&rsquo;s initial merger, share exchange, asset
acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities
(a &ldquo;<U>Business Combination</U>&rdquo;). Holder understands that if a Business Combination is not consummated, this Note will not
be repaid and all amounts owed hereunder will be forgiven except to the extent that the Maker has funds available to it outside of its
trust account established in connection with its initial public offering.</FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3. <U>Application
of Payments</U>. 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&rsquo; fees, then to the payment in full of any late charges and finally
to the reduction of the unpaid principal balance of this Note.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4. <U>Events
of Default</U>. The following shall constitute Events of Default:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 73.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) <U>Failure
to Make Required Payments</U>. Failure by Maker to pay the principal of this Note within five (5) business days following the date when
due.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 73.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <U>Voluntary
Bankruptcy, Etc.</U> The commencement by Maker of a voluntary case under the Federal Bankruptcy Code, as now constituted or hereafter
amended, or any other applicable federal or state 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, cus