Form of Administrative Services Agreement between the Registrant and Gefen Landa Holdings LP

Contract Categories: Business Operations - Services Agreements
EX-10.5 9 d58324dex105.htm EX-10.5 EX-10.5

Exhibit 10.5

Gefen Landa Acquisition Corp.

85 Medinat Hayehudim St., Building G, Floor 14

Hertzliya, Israel ###-###-####

March [●], 2021

Gefen Landa Holdings LP

85 Medinat Hayehudim St., Building G, Floor 14

Hertzliya, Israel ###-###-####

Re: Administrative Services Agreement

Ladies and Gentlemen:

This Administrative Services Agreement (this “Agreement”) by and between Gefen Landa Acquisition Corp. (the “Company”) and Gefen Landa Holdings LP (the “Provider”), dated as of the date hereof, will confirm our agreement that, commencing on the date the securities of the Company are first listed on The Nasdaq Capital Market (the “Listing Date”) and continuing until the earlier of the consummation by the Company of an initial business combination and the Company’s liquidation (in each case as described in the Registration Statement on Form S-1 (File No. 333-[●]) filed with the Securities and Exchange Commission) (such earlier date hereinafter referred to as the “Termination Date”), the Provider shall take steps directly or indirectly to make available to the Company, at 85 Medinat Hayehudim St., Building G, Floor 14, Hertzliya, Israel ###-###-#### (or any successor location or other existing office locations that the Provider shall so select), certain office space, administrative and support services (including salaries of the Provider) as may be reasonably requested by the Company from time to time. In exchange therefor, the Company shall pay the Provider the sum of $10,000 per month commencing on the Listing Date and continuing monthly thereafter until the Termination Date.

The Company shall make all payments by wire transfer of immediately available funds to an account designated by Provider or by such other method as may be reasonably acceptable to Provider. The Provider hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind (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 shareholders 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 as a result of, or arising out of, this Agreement, 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 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 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 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.

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.

This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.

[Signature page follows]



Very truly yours,


Name:   Elan Sigal
Title:   Chief Financial Officer








Name:   Sheldon I. Stein
Title:   Chief Executive Officer

[Signature Page to Administrative Services Agreement]