Office Space and Administrative Services Agreement between Electrum Special Acquisition Corporation and The Electrum Group LLC
Electrum Special Acquisition Corporation and The Electrum Group LLC agree that, starting from the company's IPO registration date until either a business combination or liquidation, The Electrum Group LLC will provide office space and administrative services to the company for $10,000 per month. The Electrum Group LLC waives any rights to funds held in the company's IPO trust account and agrees not to seek payment from those funds under any circumstances.
Exhibit 10.3
Electrum Special Acquisition Corporation
700 Madison Avenue, 5th Floor
New York, NY 10065
_____________, 2015
The Electrum Group LLC
700 Madison Avenue, 5th Floor
New York, NY 10065
Ladies and Gentlemen:
This letter will confirm our agreement that, commencing on the effective date (the “Effective Date”) of the registration statement (the “Registration Statement”) for the initial public offering (the “IPO”) of the securities of Electrum Special Acquisition Corporation (the “Company”) and continuing until the earlier of (i) the consummation by the Company of an initial business combination or (ii) the Company’s liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”), The Electrum Group LLC shall make available to the Company certain office space and administrative and support services as may be required by the Company from time to time, situated at 700 Madison Avenue, 5th Floor, New York, NY 10065 (or any successor location). In exchange therefore, the Company shall pay The Electrum Group LLC the sum of $10,000 per month on the Effective Date and continuing monthly thereafter until the Termination Date. The Electrum Group LLC hereby agrees that it does not have any right, title, interest or claim of any kind in or to any monies that may be set aside in a trust account (the “Trust Account”) to be established upon the consummation of the IPO (the “Claim”) and hereby waives any Claim it may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with the Company and will not seek recourse against the Trust Account for any reason whatsoever.
Very truly yours, | |||
ELECTRUM SPECIAL | |||
ACQUISITION CORPORATION | |||
By: | |||
Name: | |||
Title: | |||
Acknowledged and Accepted by: | |||
THE ELECTRUM GROUP LLC | |||
By: | |||
Name: | |||
Title: |