Exhibit 10.7 


 


CONCORD
Acquisition Corp III 


477 Madison Avenue 


New York, NY 10022


 


November 3, 2021


 


Atlas Merchant Capital LLC


477 Madison Avenue

New York, NY 10022


 


		Re:	Administrative Services Agreement



 


Ladies and Gentlemen:


 


This letter agreement by and between Concord Acquisition
Corp III (the “Company”) and Atlas Merchant Capital LLC (“Provider”), dated as of the date hereof,
will confirm our agreement that, commencing on the effective date (the “Effective Date”) of the Registration Statement
on Form S-1 filed with the U.S. Securities and Exchange Commission (the “Registration Statement”) for the Company’s
initial public offering 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.	Provider shall make available, or cause to be made available, to the Company, at 477 Madison Avenue, New York, NY 10022 (or any successor
location of Provider), certain office space and administrative support services as may be reasonably required by the Company. In exchange
therefor, the Company shall pay Provider the sum of $20,000 per month on the Effective Date and continuing monthly thereafter until the
Termination Date; and



 


		ii.	Provider 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 all 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.


 









     


     


    

 


	 	Very truly yours,
	 	 
	 	CONCORD
    Acquisition Corp III
	 	 
	 	By: 	   /s/ Jeff Tuder
	 	Name:
      Jeff Tuder
	 	Title:
        Chief Executive Officer



 


	AGREED
    TO AND ACCEPTED BY:	 
	 	 
	ATlas
    merchant capital llc	 
	 	 
	By: 	   /s/ Timothy Kacani	 
	Name:
      Timothy Kacani	 
	Title:
        COO	 





 


[Signature
Page to Administrative Services Agreement]