SEC Contract Filing

Filing Date: 2022-02-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ea156271ex10-2_themusic.htm
<DESCRIPTION>PROMISSORY NOTE ISSUED IN FAVOR OF TODD LOWEN, DATED FEBRUARY 25, 2022
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIS PROMISSORY NOTE (THIS &ldquo;NOTE&rdquo;)
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;).&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 OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE MAKER THAT SUCH REGISTRATION IS NOT REQUIRED.
&nbsp;</B></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-indent: 3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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 <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Principal Amount:&nbsp;&nbsp;Up to $250,000.00</FONT></TD>
 <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dated as of February 25, 2022</P></TD></TR>
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<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">The Music Acquisition Corporation,&nbsp;a
Delaware corporation (&ldquo;<B>Maker</B>&rdquo;), promises to pay to the order of Todd Lowen (&ldquo;<B>Payee</B>&rdquo;), or order,
the principal sum of up to Two Hundred Fifty Thousand Dollars ($250,000) 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.</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: justify"><B>1. Principal.&nbsp;</B>The
principal balance of this Note shall be payable on the earliest to occur of (i) the date on which Maker consummates its initial business
combination and (ii) the date that the winding up of Maker is effective (such date, the &ldquo;<B>Maturity Date</B>&rdquo;).&nbsp;The
principal balance may be prepaid at any time.</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: justify"><B>2. Interest.</B>&nbsp;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 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3. Drawdown
Requests.</B>&nbsp;The principal of this Note may be drawn down from time to time prior to the Maturity Date upon request from Maker to
Payee (each, a &ldquo;<B>Drawdown Request</B>&rdquo;). Payee shall fund each Drawdown Request within five (5) business days after receipt
of such Drawdown Request; <I>provided</I>, <I>however</I>, that Payee shall fund Forty Thousand Dollars ($40,000) upon execution of this
Note (the &ldquo;Initial Drawdown&rdquo;); <I>provided</I>, <I>further</I>, that the maximum amount of drawdowns collectively under this
Note is Two Hundred Fifty Thousand Dollars ($250,000). Once an amount is drawn down under this Note, it shall not be available for future
Drawdown Requests even if prepaid. No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any
Drawdown Request by Maker.</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: justify"><B>4. Application
of Payments.</B>&nbsp;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 attorney&rsquo;s fees, then to the payment in full of any late charges and finally
to the reduction of the unpaid principal balance of this Note.</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: justify"><B>5. Conversion.</B></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: justify; text-indent: 0.5in">(a) At
Payee&rsquo;s option, on the Maturity Date in the event Maker consummates its initial business combination, Payee may elect to convert
all or any portion of the principal outstanding under this Note into that number of warrants (&ldquo;<B>Working Capital Warrants</B>&rdquo;)
equal to: (i) the portion of the principal amount of this Note being converted pursuant to this Section 5, divided by (ii) $1.00, rounded
up to the nearest whole number. Each Working Capital Warrant shall have the sam