SECURED CONVERTIBLE PROMISSORY NOTE AND SECURITY AGREEMENT (MULLEN AUTOMOTIVE INC.)Note and Security Agreement • October 21st, 2022 • Mullen Automotive Inc. • Services-computer processing & data preparation • New York
This secured Promissory Note and Security Agreement (this “Note”) is entered into pursuant to that certain Exchange Agreement of even date herewith by and among the parties hereto (the “Agreement”). For value received, MULLEN AUTOMOTIVE INC., a Delaware corporation, its affiliates, successors, and assigns (“Borrower”), hereby irrevocably and unconditionally promise to pay to the order of Esousa Holdings LLC, a New York limited liability company (together with any and all of its successors and assigns and/or any other holder of this Note, “Lender”), without offset, in immediately available funds in lawful money of the United States of America, at an address to be specified in writing by the Lender to Borrower, the principal sum of TWELVE MILLION NINE HUNDRED FORTY-FIVE THOUSAND NINE HUNDRED FOURTEEN DOLLARS ($12,945,914), together with interest on the unpaid principal balance of this Note from day to day outstanding as hereinafter provided (the “Loan”).
EXCHANGE AGREEMENTExchange Agreement • October 21st, 2022 • Mullen Automotive Inc. • Services-computer processing & data preparation
THIS EXCHANGE AGREEMENT (this “Agreement”) is made as of October 14, 2022, by and between Esousa Holdings LLC, a New York limited liability company (the “Investor”) and Mullen Automotive Inc., a Delaware corporation (the “Company”).
