EX-4.1
from 8-K
3 pages
For Value Received, the Undersigned Ault Alliance, Inc., a Delaware Corporation (The “Maker”) Promises to Pay, on the Dates Set Forth Herein, to Orchid Finance LLC, a Nevada Limited Liability Company (The “Lender”), at an Address That Has Been Designated by the Lender, the Sum of One Million Seven Hundred Five Thousand Dollars and No Cents ($1,705,000.00) on May 17, 2024 (The “Maturity Date”). Amounts Due Under This Promissory Note (The “Note”) May Be Prepaid at Any Time Without Penalty. Notwithstanding the Foregoing, Maker and Lender Intend to Enter Into a Securities Purchase Agreement Prior to Repayment of This Note, and the Lender Shall Be Entitled to Apply the Principal Amount of the Note Outstanding Against the Purchase Price in Connection With This Transaction. This Note Shall Accrue Interest at the Rate of Fifteen Percent (15%) Per Annum. Interest Shall Be Payable in Arrears on the Maturity Date. the Note Was Issued With an Original Issuance Discount of Ten Percent (10%), or One Hundred Fifty-Five Thousand Dollars and No Cents ($155,000.00). Repayment of This Note Has Been Guaranteed by Ault Lending, LLC (“AULT Lending”) and Milton C. AULT, III Pursuant to That Certain Guaranty Entered Into by and Among Ault Lending, Mr. Ault and the Lender on the Date Hereof (The “Guaranty”)
12/34/56