Form of Administrative Services Agreement, by and between the Registrant and an affiliate of the Registrant
Exhibit 10.8
CO2 Energy Transition Corp.
1334 Brittmoore Rd, Suite 190
Houston, Texas 77043
March __, 2023
CO2 Energy Transition, LLC
1334 Brittmoore Rd, Suite 190
Houston, Texas 77043
| Re: | Administrative Services Agreement |
Ladies and Gentlemen:
This letter agreement by and between CO2 Energy Transition Corp. (the “Company”) and CO2 Energy Transition, LLC (“Provider”), dated as of the date hereof, will confirm our agreement that, commencing on the effective date (the “Effective Date”) of the Registration Statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “Registration Statement”) for the Company’s initial public offering and continuing until the earlier of the consummation by the Company of an initial business combination or the Company’s liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”):
| i. | Provider shall make available, or cause to be made available, to the Company, at 1334 Brittmoore Rd, Suite 190, Houston, Texas 77043 (or any successor location of Provider), certain office space and administrative support services as may be reasonably required by the Company. In exchange therefor, the Company shall pay Provider the sum of $10,000 per month on the Effective Date and continuing monthly thereafter until the Termination Date; and |
| ii. | Provider hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result of, or arising out of, this letter agreement (each, a “Claim”) in or to, and any and all right to seek payment of any amounts due to it out of, the trust account established for the benefit of the public stockholders of the Company and into which substantially all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”), and hereby irrevocably waives any Claim it may have in the future, which Claim would reduce, encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever. |
This letter agreement constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby.
This letter agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by all parties hereto.
No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee.
This letter agreement constitutes the entire relationship of the parties hereto, and any litigation between the parties (whether grounded in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of New York, without giving effect to its choice of laws principles.
This letter agreement may be executed in one or more counterparts.
| Very truly yours, | ||||
| CO2 ENERGY TRANSITION CORP. | ||||
| By: | ||||
| Name: | E. Will Gray, II | |||
| Title: | Chief Executive Officer | |||
| AGREED TO AND ACCEPTED BY: | ||||
| CO2 ENERGY TRANSITION, LLC | ||||
| by its manager | ||||
| By: | ||||
| Name: | ||||
| Title: | ||||
[Signature Page to Administrative Services Agreement]
