Administrative Services Agreement between InterPrivate Acquisition Corp. and InterPrivate LLC
InterPrivate Acquisition Corp. and InterPrivate LLC agree that, starting from the company's IPO registration date until either a business combination is completed or the company is liquidated, InterPrivate LLC will provide office space, utilities, and secretarial support to the company at a specified New York address. In return, the company will pay InterPrivate LLC $10,000 per month. InterPrivate LLC also 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 10.7
InterPrivate Acquisition Corp.
1350 Avenue of the Americas
New York, New York 10019
________ __, 2020
InterPrivate LLC
1350 Avenue of the Americas
New York, New York 10019
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 InterPrivate Acquisition Corp’s (the “Company”) securities 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”), InterPrivate LLC shall make available to the Company certain office space, utilities and secretarial support as may be required by the Company from time to time, situated at 1350 Avenue of the Americas, New York, New York 10019 (or any successor location). In exchange therefore, the Company shall pay InterPrivate LLC the sum of $10,000 per month on the Effective Date and continuing monthly thereafter until the Termination Date. InterPrivate 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.
[Signature Page Follows]
| Very truly yours, | ||
| INTERPRIVATE ACQUISITION CORP. | ||
| By: | ||
| Name: | ||
| Title: | ||
| AGREED TO AND ACCEPTED BY: | ||
| INTERPRIVATE LLC | ||
| By: | ||
| Name: | ||
| Title: | ||
