SEC Contract Filing

Filing Date: 2024-06-06

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>4
<FILENAME>ex10-1.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
10.1</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; font-weight: normal"><U>SECURED
PROMISSORY NOTE</U></FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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 <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
 of Issuance: May 31, 2024</FONT></TD>
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$1,500,000.00</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, UNIV Ltd., an Israeli company (&ldquo;<B>Maker</B>&rdquo;), hereby promises to pay to Frankly Media LLC, a Florida limited
liability company (&ldquo;<B>Payee</B>&rdquo;) the aggregate initial principal amount of One Million Five Hundered Thousand Dollars ($1,500,000.00)
(&ldquo;<B>Principal Amount</B>&rdquo;), and interest thereon, in accordance with the provisions of this Secured Promissory Note (this
&ldquo;<B>Note</B>&rdquo;).</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">This
Note is issued to Payee pursuant to that certain Asset Purchase Agreement, dated as of the date hereof (as amended, restated, supplemented
or modified from time to time, the &ldquo;<B>Purchase Agreement</B>&rdquo;), by and among Maker and Payee. Unless otherwise indicated
herein, capitalized terms used in this Note have the meanings set forth in the Purchase Agreement.</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. <U>Payment
of Principal</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: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) <U>Scheduled
Payments</U>. Maker will pay the Principal Amount in monthly principal payments pursuant to the schedule annexed as Exhibit A, together
with all accrued but unpaid interest on the outstanding principal balance of the Note, with each such payment due by the first (1<SUP>st</SUP>)
day of such month. If any amount payable hereunder is not paid when due (without regard to any grace periods) whether by acceleration,
or otherwise, then such amount shall thereafter bear interest at a default rate equal to eight percent (8%) per annum or such lower rate
as permitted by applicable law.</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: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <U>Optional
Prepayments</U>. Maker may voluntarily prepay in cash all or any portion of the outstanding obligations of this Note at any time without
premium or penalty. The amount of any voluntary prepayment made hereunder will be applied first against all accrued but unpaid interest
through the date of prepayment, second against all unpaid fees and expenses payable to Payee hereunder and thereafter against the principal
amount then due hereunder.</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: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c) <U>Mandatory
Prepayments</U>. In the