Letter Agreement for Conditional Loan Commitment between Capitol Acquisition Corp. III and Lender (August 8, 2016)
This agreement is between Capitol Acquisition Corp. III and an unnamed lender. The lender commits to provide loans up to a specified amount if requested by the company. If the company does not complete a business combination, the loans will be forgiven unless the company has funds outside its IPO trust account. The agreement outlines the lender's conditional financial support and the circumstances under which repayment is required.
Exhibit 10.2
August 8, 2016
Capitol Acquisition Corp. III
509 7th Street, N.W.
Washington, D.C. 20004
This letter is to confirm the undersigned's commitment that, if funds are needed by Capitol Acquisition Corp. III (the "Company") and upon request by the Company, the undersigned will provide loans of up to an aggregate of $_____ to the Company. The undersigned understands that if the Company does not consummate a business combination (as described in the Company's final prospectus, dated October 13, 2015), all amounts loaned to the Company hereunder will be forgiven except to the extent that the Company has funds available to it outside of its trust account established in connection with the Company's initial public offering.
