Termination Agreement for Administrative Support Services between Cactus Acquisition Corp. 1 Limited and Cactus Healthcare Management LP (February 15, 2024)
Cactus Acquisition Corp. 1 Limited and Cactus Healthcare Management LP have agreed to terminate their Administrative Support Services Agreement, effective as of the closing of a related Sponsor Securities Purchase Agreement. After this termination, neither party will have ongoing obligations under the support agreement, except for any rights or obligations that existed before the termination date. The Sponsor's waiver of claims against the Trust Account will remain in effect. This agreement formalizes the end of the support arrangement between the two parties.
Exhibit 10.6
February 15, 2024
To:
Cactus Acquisition Corp. 1 Limited
4B Cedar Brook Drive
Cranbury, NJ 085412
Attention: Ofer Gonen, Chief Executive Officer
Re: Termination of Administrative Support Services Agreement
Pursuant to Section 4.01(i) of that certain Sponsor Securities Purchase Agreement, dated as of February 9, 2024, by and among Cactus Acquisition Corp. 1 Limited (the “Company”), Cactus Healthcare Management LP (the “Sponsor”), and EVGI Limited (the “Buyer”) (the “SPA”), the Sponsor and the Company hereby terminate that certain Administrative Support Services Agreement, dated as of May 21, 2021, by and between the Sponsor and the Company (the “Support Agreement”), effective as of the Closing under the SPA (the “Termination Time”).
Following the Termination Time, the Support Agreement shall be of no further force or effect, such that any and all undertakings, rights, obligations, entitlements and/or provisions included therein and/or arising thereunder shall terminate, expire and become of no further force and effect.
Notwithstanding the above, the termination of the Support Agreement shall not affect or diminish any of provisions of the Support Agreement that were in place prior to the Termination Time (subject, however, to any agreements among the parties in the SPA that govern whether Sponsor is entitled to amounts due under the Support Agreement prior to the Termination Time), and shall not impact the waiver by the Sponsor of its recourse against the Trust Account (as defined in the Support Agreement), which waiver shall continue in full force and effect past the Termination Time.
Sincerely,
Cactus Healthcare Management LP
By: | Cactus Healthcare Management LLC, | |
its sole General Partner |
By: | /s/ Stephen T. Wills | ||
Name: | Stephen T. Wills | ||
Title: | Secretary |
Accepted and agreed: | ||
Cactus Acquisition Corp. 1 Limited | ||
By: | /s/ Ofer Gonen | |
Name: | Ofer Gonen | |
Title: | Chief Executive Officer |