SEC Contract Filing

Filing Date: 2024-07-17

Document Content:
<DOCUMENT>
<TYPE>EX-10.29
<SEQUENCE>3
<FILENAME>nbh-ex10_29.htm
<DESCRIPTION>SECURED PROMISSORY NOTE
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
10.29</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>THIS
12% SECURED PROMISSORY NOTE (THE &#147;<U>NOTE</U>&#148;) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (&#147;<U>ACT</U>&#148;),
OR THE SECURITIES LAWS OF ANY STATE. THIS NOTE MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT REGISTRATION UNDER THE ACT AND
ANY APPLICABLE STATE SECURITIES LAWS OR DELIVERY TO NEXT BRIDGE HYDROCARBONS, INC. OF AN OPINION OF LEGAL COUNSEL SATISFACTORY TO NEXT
BRIDGE HYDROCARBONS, INC. THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT OR ANY APPLICABLE STATE SECURITIES LAWS.</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12%
SECURED PROMISSORY NOTE&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NEXT
BRIDGE HYDROCARBONS, INC.</FONT></P>

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 <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$2,000,000.00</FONT></TD>
 <TD STYLE="text-align: right; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">February 29, 2024</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
VALUE RECEIVED, <B>NEXT BRIDGE HYDROCARBONS, INC.</B>, a Nevada corporation with its principal office located at 500 W. Texas Ave., Suite
890, Midland, Texas 79701 (the &#147;<B><I>Company</I></B>&#148;), unconditionally promises to pay to <B>CAPCO HOLDINGS, INC.</B>,
a Texas Corporation with an address at 131 East Mandalay, San Antonio, Texas 78212-1739, or its registered assignee, upon presentation
of this 12% Secured Promissory Note (the &#147;<B><I>Note</I></B>&#148;) by the registered holder hereof (the &#147;<B><I>Holder</I></B>&#148;)
at the office of the Company, the principal sum of Two Million and Zero One-Hundredth Dollars ($2,000,000.00), together with the accrued
and unpaid interest thereon and other sums as hereinafter provided, subject to the terms and conditions as set forth below.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized
terms used herein have the meanings set forth in this <U>Section 1</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#147;<B><I>Applicable
Rate</I></B>&#148; means the rate equal to twelve percent (12.00%) per annum.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#147;<B><I>Business
Day</I></B>&#148; means a day other than a Saturday, Sunday, or other day on which commercial banks in Midland, Tex