SEC Contract Filing

Filing Date: 2023-03-03

Document Content:
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<DESCRIPTION>EX-10.2
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<DIV><FONT size="1" style="font-size:1pt;color:white">US.355951609.08 SECURED NOTE NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL TO THE HOLDER (IF REQUESTED BY THE COMPANY), IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES. ANY TRANSFEREE OF THIS NOTE SHOULD CAREFULLY REVIEW THE TERMS OF THIS NOTE, INCLUDING SECTIONS 3(c)(iii) AND 20(a) HEREOF. THE PRINCIPAL AMOUNT REPRESENTED BY THIS NOTE PURSUANT TO SECTION 3(c)(iii) OF THIS NOTE. THIS NOTE HAS BEEN ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR UNITED STATES FEDERAL INCOME TAX PURPOSES. THE ISSUE PRICE, AMOUNT OF SUCH ISSUE PRICE ALLOCATED TO THE RELATED WARRANT, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY OF THIS NOTE, TO THE EXTENT NOT SET FORTH IN THE PURCHASE AGREEMENT (AS DEFINED BELOW), MAY BE OBTAINED FROM THE COMPANY BY CONTACTING: WEJO GROUP LIMITED, CANON&#8217;S COURT, 22 VICTORIA STREET, HAMILTON HM12, BERMUDA, ATTENTION: CHIEF FINANCIAL OFFICER. Wejo Group Limited Secured Note Issuance Date: February 27, 2023 Original Principal Amount: U.S. $3,684,210 FOR VALUE RECEIVED, Wejo Group Limited, an exempted company incorporated under the laws of Bermuda (the &#8220;Company&#8221;), hereby promises to pay to the order of Esousa Holdings, LLC or its registered assigns (&#8220;Holder&#8221;) the amount set forth above as the Original Principal Amount (as reduced pursuant to the terms hereof pursuant to redemption or otherwise, the &#8220;Principal&#8221;) when due, whether upon the Maturity Date, on any Installment Date with respect to the Installment Amount due on such Installment Date (each as defined below), or upon redemption or otherwise (in each case in accordance with the terms hereof) and to pay interest (&#8220;Interest&#8221;) on any outstanding Principal at the applicable Interest Rate (as defined below) from the date set forth above as the Issuance Date (the &#8220;Issuance Date&#8221;) until the same becomes due and payable, as set forth herein. This Secured Note (including all Secured Notes issued in exchange, transfer or replacement hereof, this &#8220;Note&#8221;) is issued pursuant to the Securities Purchase Agreement (the &#8220;Purchase Agreement&#8221;), dated as of February 27, 2023 (the &#8220;Subscription Date&#8221;), by and between the Company and the Holder, as amended from time to time. Certain capitalized terms used herein are defined in Section 34. Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Purchase Agreement. 1. PAYMENTS OF PRINCIPAL. On each Installment Date, the Company shall pay to the Holder an amount equal to the Installment Amount due on such Installment Date in accordance with Section 8. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all outstanding and unpaid Principal, accrued and unpaid Interest and accrued and unpaid Late Charges (as defined in Section 26(c)), in each case without any deduction or withholding except as may be required under applicable tax law. In the event any such deduction or withholding is required under applicable tax law, the Company (or its applicable agent) shall be entitled to make such deduction or withholding, and, to the </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white">US.355951609.08 Wejo | Secured Note Page 2 extent that any amounts so deducted or withheld constitute Indemnified Taxes, the amount paid by the Company to the Holder shall be increased such that, after the deduction or withholding of such Indemnified Taxes, the Holder shall receive the same amount as the Holder would have received had no deduction or withholding been required. Other than as specifically permitted by this Note, the Company may not prepay any portion of the outstanding Principal, accrued and unpaid Interest or accrued and unpaid Late Charges on Principal and Interest, if any. Notwithstanding any provision herein or in any other Transaction Document to the contrary, the Company shall not make any payment hereunder, and shall not be obligated to make any payment hereunder, unless one of the following conditions has been met: (a) the First Loan Note Instrument (as defined in the Deed of Priority) has been paid in full; (b) the payment is a Permitted Payment (as defined in the Deed of Priority); or (c) the Holder has complied with the notice requirements included in Section 4(e) hereunder. 2. INTEREST; INTEREST RATE. (a) Interest on this Note shall commence accruing on the Issuance Date and shall be computed on the basis of a 365-day year. Interest on this Note shall be payable in arrears semiannually on each Interest Date a