SECOND WAIVER LETTER TO THE ADMINISTRATIVE SERVICES AGREEMENT, DATED JANUARY 13, 2016, BETWEEN THE COMPANY AND WL ROSS SPONSOR LLC WL Ross Sponsor LLC c/o WL Ross & Co. LLC
EXHIBIT 10.24
SECOND WAIVER LETTER TO THE ADMINISTRATIVE
SERVICES AGREEMENT, DATED
JANUARY 13, 2016, BETWEEN THE COMPANY AND XX XXXX SPONSOR LLC
XX Xxxx Sponsor LLC
c/o XX Xxxx & Co. LLC
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
January 13, 2016
XX Xxxx Holding Corp.
c/o XX Xxxx & Co. LLC
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
Re: Waiver under Administrative Services Agreement
Gentlemen:
We refer to the Administrative Services Agreement by and between us and the Company dated June 5, 2014 (the “Agreement”).
We hereby irrevocably and unconditionally waive the $10,000 per month payment obligations (the “Administrative Fee”) of XX Xxxx Holding Corp. (the “Company”) that is payable to our affiliate, XX Xxxx & Co. LLC, for the period beginning on January 1, 2016 and ending on December 31, 2016 (the “Waiver Period”) under the Agreement. Following the Waiver Period, the Company shall continue to be obligated to pay the Administrative Fee under the Agreement to XX Xxxx & Co. LLC.
Other than the foregoing waiver expressed in this letter, the Agreement shall remain unchanged and in full force and effect.
[Signature page follows]
Very truly yours, |
XX XXXX SPONSOR LLC By: XX XXXX GROUP, L.P., its Managing Member By: El Vedado, LLC, its General Partner |
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/s/ Xxxxxx X. Xxxx, Xx.
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Name: Xxxxxx X. Xxxx, Xx. | |
Title: Manager |
AGREED TO AND ACCEPTED BY:
XX XXXX HOLDING CORP. | ||
By: | /s/ Xxxxxxx X. Toy. | |
Name: Xxxxxxx X. Toy | ||
Title: President |