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Exhibit 10.8

Atlantic Avenue Acquisition Corp
2200 Atlantic Street

Stamford, CT 06902
 
October 1, 2020
MC Credit Partners LP
2200 Atlantic Street
Stamford, CT 06902
 
Re:
Administrative Services Agreement

 
Ladies and Gentlemen:
 
This letter agreement by and between Atlantic Avenue Acquisition Corp  (the
“Company”) and MC Credit Partners LP (“MC Credit Partners”), an affiliate of our
sponsor, Atlantic Avenue 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 2200 Atlantic
Avenue, Stamford, CT 06902 (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.

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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,
     
ATLANTIC AVENUE ACQUISITION CORP
   

 
By:
/s/ Barry Best
 
Name:
Barry Best
 
Title:
Chief Financial Officer

AGREED TO AND ACCEPTED BY:
     
MC CREDIT PARTNERS LP
     

By:
/s/ Ashok Nayyar
 
Name:
Ashok Nayyar
 
Title:
Managing Director and Chief

Investment Officer

 

 
[Signature Page to Admin. Services Agreement]

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