SECURED CONVERTIBLE PROMISSORY NOTE AND SECURITY AGREEMENT (MULLEN TECHNOLOGIES, INC.)Secured Convertible Promissory Note and Security Agreement • July 22nd, 2021 • Net Element, Inc. • Services-computer processing & data preparation • New York
This SECURED PROMISSORY NOTE AND SECURITY AGREEMENT (this “Note”) is entered into pursuant to that certain Settlement, Termination, Release and Equity Purchase and Loan Agreement of even date herewith by and among the parties hereto and Drawbridge Investments LLC (the “Agreement”). For value received, MULLEN TECHNOLOGIES, INC., a California corporation, its affiliates, successors, and assigns (“Borrower”), hereby irrevocably and unconditionally promise to pay to the order of DBI LEASE BUYBACK SERVICING LLC, a Delaware 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 TWENTY THREE MILLION, EIGHT HUNDRED THIRTY ONE THOUSAND, FIVE HUNDRED AND FIFTY THREE DOLLARS AND 98/100 ($23,831,553.98), together with interest on the unpaid
