Atlantic Street Acquisition Corp
Exhibit 10.12
0000 Xxxxxxxx Xxxxxx
Xxxxxxxx, XX 00000
[●], 2020
MC Credit Partners LP
0000 Xxxxxxxx Xxxxxx
Xxxxxxxx, XX 00000
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Re:
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Administrative Services Agreement
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Ladies and Gentlemen:
This letter agreement by and between Atlantic Street Acquisition Corp (the “Company”) and MC Credit Partners LP (“MC Credit Partners”), an affiliate
of our sponsor, Atlantic Street Partners LLC, 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 New York Stock Exchange (the “Listing Date”), pursuant to a
Registration Statement on Form S-1 and prospectus filed with the Securities and Exchange Commission (the “Registration Statement”) 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) MC Credit Partners shall make available to the Company, at 0000 Xxxxxxxx Xxxxxx, Xxxxxxxx, XX 00000 (or any successor location), certain office
space, utilities and secretarial and administrative support as may be reasonably required by the Company. In exchange therefor, the Company shall pay MC Credit Partners the sum of $10,000 per month on the Listing Date and continuing monthly
thereafter until the Termination Date; and
(ii) MC Credit Partners 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 the 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.
[Signature Page Follows]
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Very truly yours,
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By:
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Name:
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Title:
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AGREED TO AND ACCEPTED BY:
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MC CREDIT PARTNERS LP
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By:
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Name:
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Title:
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[Signature Page to Admin. Services Agreement]
