SECURED TERM LOAN NOTERoyale Energy, Inc. • February 15th, 2024 • Crude petroleum & natural gas • Texas
FOR VALUE RECEIVED, the undersigned, ROYALE ENERGY, INC., a Delaware corporation, with a mailing address of 1530 Hilton Head Road, Suite 205, El Cajon, California 92019 (“Borrower”), promises to pay, severally and not jointly, to each of (a) WALOU INVESTMENTS, LP, a Texas limited partnership, with a mailing address of 104 W. Anapamu, Suite C, Santa Barbara, California 93101 (in its capacity as administrative agent for Lenders (“Agent”) and in its capacity as a lender hereunder, “Walou”), and (b) any Additional Lender defined below, whether one or more, that becomes a party to this Note after the Effective Date in accordance with the terms hereof (Walou, together with any such Additional Lender, whether one or more, each a “Lender” and, collectively, “Lenders”), at the address of Agent set forth above, in lawful money of the United States of America, in the aggregate principal amount of THREE MILLION & NO/100 Dollars ($3,000,000.00), or such lesser principal amount extended by Lenders t
