SEC Contract Filing

Filing Date: 2023-02-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>d356019dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THIS PROMISSORY INSTRUMENT (THIS &#147;<B>INSTRUMENT</B>&#148;) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;<B>SECURITIES
ACT</B>&#148;). THIS INSTRUMENT 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 COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROMISSORY INSTRUMENT </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Principal Amount: Up to $1,350,000</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">Dated as of February&nbsp;3, 2023</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Mercato Partners Acquisition Corporation, a Delaware corporation and blank check company
(&#147;<B>Maker</B>&#148;), promises to pay to Mercato Partners Acquisition Group, LLC, a Delaware limited liability company, or its registered assigns or successors in interest (the &#147;<B>Payee</B>&#148;), or order, the principal sum of One
Million Three Hundred and Fifty Thousand Dollars ($1,350,000) or such lesser amount as shall have been advanced by Payee to Maker and shall remain unpaid under this Instrument on the Maturity Date (as defined below) in lawful money of the United
States of America, on the terms and conditions described below. All payments on this promissory instrument (this &#147;<B>Instrument</B>&#148;) shall be made by check or wire transfer of immediately available funds to such account as the Payee may
from time to time designate by written notice in accordance with the provisions of this Instrument, subject to the rights of Payee specified in Section&nbsp;8 hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <B>Principal. </B>The principal balance of this Instrument shall be payable by Maker on the date (such date, the &#147;<B>Maturity
Date</B>&#148;) subject to Section&nbsp;15 below, (a)&nbsp;on which Maker consummates an initial merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses
or entities (a &#147;<B>Business Combination</B>&#148;) and (b)&nbsp;of the liquidation of Maker. Payee understands that if a Business Combination is not consummated, this Instrument will not be repaid and all amounts owed hereunder will be
contributed to Maker by payee except to the extent that Maker has funds available to it outside of its trust account established in connection with its IPO (as defined herein). The principal balance may be prepaid at any time, at the election of
Maker. Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of Maker, be obligated personally for any obligations or liabilities of Maker hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <B>Drawdown Requests.</B> The principal of this Instrument may be drawn down from time to time prior to the Maturity Date upon written
request from Maker to Payee (each, a &#147;<B>Drawdown Request</B>&#148;). Each Drawdown Request must state the amount to be drawn down, and must not be an amount less than Ten Thousand Dollars ($10,000), unless agreed upon in writing by Maker and
Payee. Payee shall fund each Drawdown Request no later than three (3)&nbsp;business days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns </P>
</DIV></Center>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
outstanding under this Instrument at any time may not exceed One Million Three Hundred and Fifty Thousand Dollars ($1,350,000). Once an amount is drawn down under this Instrument, 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. Notwithstanding the foregoing, all payments shall be applied first
to payment in full of any costs incurred in the collection of any sum due under this Instrument, including (without limitation) reasonable attorneys&#146; fees, and then to the reduction of the unpaid principal balance of this Instrument. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <B>Interest.</B> No interest shall accrue on the unpaid principal balance of this Instrument. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <B>Application of Payments.</B> All payments shall be applied first t