Exhibit 10.8


 


THIS EXPENSE ADVANCEMENT
AGREEMENT (this “Agreement”), dated as of December [__], 2018, is made and entered into by and among
CF Finance Acquisition Corp., a Delaware corporation (the “Company”), and CF Finance Holdings LLC
(the “Sponsor”).


 


RECITALS


 


WHEREAS, the Company
is engaged in an initial public offering (the “Offering”) pursuant to which the Company will issue and
deliver up to 28,750,000 units (the “Units”) (including up to 3,750,000 Units subject to an over-allotment
option granted to the underwriters of the Offering), with each Unit comprised of one share of common stock, par value $0.0001 per
share (the “Common Stock”), of the Company and one warrant, each warrant exercisable to purchase one
share of Common Stock at $11.50 per share, subject to certain adjustments (each, a “Warrant,” and collectively,
the “Warrants”);


 


WHEREAS, the Company
has filed with the Securities and Exchange Commission a registration statement on Form S-1, No. 333-[______] (the “Registration
Statement”) for the registration, under the Securities Act of 1933, as amended (the “Securities Act”),
of the Units the Warrants and the Common Stock underlying the Units, including a prospectus (the “Prospectus”);


 


WHEREAS, the gross
proceeds of the Offering, together with certain additional amounts, will be deposited in a trust account (the “Trust
Account”) at J.P. Morgan Chase Bank, N.A. and managed by Continental Stock Transfer & Trust Company, as trustee,
as described in the Registration Statement and the Prospectus; and


 


WHEREAS, the Sponsor
desires to enter into this Agreement in order to facilitate the Offering and the other transactions contemplated in the Registration
Statement and the Prospectus, including any merger, capital stock exchange, asset acquisition, stock purchase, reorganization or
other similar business combination by the Company with one or more businesses (a “Business Combination”).


 


NOW, THEREFORE,
in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows:


 


1.             (a)         From
time to time, as may be requested by the Company, the Sponsor agrees to advance to the Company up to $750,000.00 in the aggregate,
in each instance pursuant to the terms of the form of promissory note attached as Exhibit A hereto (the “Note”),
as may be necessary to fund the Company’s expenses relating to investigating and selecting a target business and other working
capital requirements following the Offering and prior to any potential Business Combination.


 


(b)          The
Sponsor represents to the Company that the Sponsor is capable of making such advances to satisfy its obligations under Section
1(a).


 


(c)          Notwithstanding
anything to the contrary herein or in the Note, the Sponsor hereby waives any and all right, title, interest or claim of any kind
("Claim") in or to any distribution of the Trust Account in which the proceeds of the Offering,
together with certain additional amounts, as described in greater detail in the Registration Statement and the Prospectus, will
be deposited, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account
for any reason whatsoever; provided, however, that if the Company completes its Business Combination, the Company may repay such
loaned amounts out of the proceeds released to the Company from the Trust Account.


 


2.           This
Agreement, together with the Note, constitutes the entire agreement and understanding of the parties hereto in respect of the subject
matter hereof 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 Agreement
may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except
by a written instrument executed by the parties hereto.


 




    	 		 



     


    

 


3.           No
party may assign either this Agreement or any of his, her or its rights, interests, or obligations hereunder without the prior
written consent of the other party; provided, however, that, subject to all applicable securities laws, the Note shall be
freely assignable by the Sponsor to any assignee; provided, further, that Sponsor’s obligations hereunder shall remain
in full force and effect in the event that an assignee fails to timely perform any of Sponsor’s obligations hereunder. 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 Agreement shall be binding on the undersigned and each of his or its heirs, personal
representatives, successors and assigns.


 


4.           Any
notice, statement or demand authorized by this Agreement shall be sufficiently given (i) when so delivered if by hand or overnight
delivery, (ii) the date and time shown on a facsimile transmission confirmation, or (iii) if sent by certified mail or private
courier service within five (5) days after deposit of such notice, postage prepaid. Such notice, statement or demand shall
be addressed as follows:


 


If to the Company or the
Sponsor:


 


110 East 59th Street


New York, NY 10022


Attn: [_________]


Facsimile: [________]


 


with a copy in each case (which shall not constitute notice) to:


 


Ellenoff Grossman &
Schole LLP


1345 Avenue of the Americas


New York, New York 10105


Attn: Stuart Neuhauser,
Esq.


Facsimile: (212) 370-7889


 


5.          This
Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.


 


6.          This
Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.


 


7.          This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The
parties hereto (i) agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Agreement
shall be brought and enforced in the state or federal courts located in the Borough of Manhattan in the State of New York, and
irrevocably submits to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection
to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum.


 


[Signature Page Follows]


 




    	 		 



     


    

 


IN WITNESS WHEREOF, the undersigned
have caused this Agreement to be executed as of the date first written above.


 


	 	CF FINANCE ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 


	 	CF FINANCE HOLDINGS LLC
	 	 
	 	By:	
 


		 	Name:
	 	 	Title:


 


[Signature Page to the Expense Advance Agreement
between CF Finance Acquisition Corp. and CF Finance Holdings, LLC for up to $750,000]


 




    	 		 



     


    

 


Exhibit A


 


Promissory Note


 


THIS PROMISSORY NOTE (“NOTE”) AND
THE SECURITIES INTO WHICH THE NOTE MAY BE CONVERTED HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”) OR UNDER THE SECURITIES LAWS OF ANY STATE.  THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT
ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT
AND APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY
THAT SUCH REGISTRATION IS NOT REQUIRED.  


 


PROMISSORY NOTE


 


	 	 Dated as of _____, 2014
	 	 
	Principal Amount:  Up to $750,000.00 	New York, New York


  


Pursuant to that certain Expense Advance Agreement (the “Agreement”), dated as of December [__], 2018, by and
between CF Finance Acquisition Corp., a Delaware corporation (the “Maker”), and CF Finance Holdings LLC
(the “Payee”), the Maker hereby promises to pay to the order of the Payee or its registered assigns or successors
in interest, the principal sum of up to Seven Hundred Fifty Thousand Dollars ($750,000.00) in lawful money of the United States
of America, on the terms and conditions described below.  Except for the optional conversions described below in Section
15, all payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined
by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of
this Note. Certain terms used herein but not defined herein shall have the meaning given to such terms in the Agreement.


 


1.            Principal. The
principal balance of this Note shall be payable by Maker on the date on which Maker consummates its Business Combination. The
principal balance may be prepaid at any time. Under no circumstances shall any individual, including but not limited to any officer,
director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.


 


2.            Interest. No
interest shall accrue or be charged by Payee on the unpaid principal balance of this Note.


 


3.            Drawdown
Requests. Maker and Payee agree that Maker may request up to Seven Hundred Fifty Thousand Dollars ($750,000.00) for costs
reasonably related to Maker’s working capital needs prior to the consummation of the Business Combination. The principal
of this Note may be drawn down from time to time prior to the date on which Maker consummates a Business Combination, upon request
from Maker to Payee (each, a “Drawdown Request”) in such amounts as Maker may determine in its discretion. Payee
shall fund each Drawdown Request no later than five (5) business days after receipt of a Drawdown Request; provided, however, that
the maximum amount of drawdowns collectively under this Note is Seven Hundred Fifty Thousand Dollars ($750,000.00). Once an amount
is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid. No fees, payments or other
amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.


 


4.            Application
of Payments. All payments (or conversions into warrants, as applicable) shall be applied first to payment in full of any
costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney’s fees
and then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note.


 






    	 		 



     


    

 


5.            Events
of Default. The occurrence of any of the following shall constitute an event of default (“Event of Default”):


 


(a)           Failure
to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business
days of the date specified above or issue warrants pursuant to Section 15 hereof, if so elected by Payee.


 


(b)           Voluntary
Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization,
rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or
the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts
become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.


  


(c)           Involuntary
Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker
in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator,
assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering
the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period
of 60 consecutive days.


 


6.            Remedies.


 


(a)           Upon
the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note
to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder,
shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.


 


(b)           Upon
the occurrence of an Event of Default specified in Sections 5(b) or 5(c), the unpaid principal balance of this Note, and all other
sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action
on the part of Payee.


 


7.            Waivers. Maker
and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest,
and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under
the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property,
real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution,
or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any
real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, or any writ of execution issued hereon, may
be sold upon any such writ in whole or in part in any order desired by Payee.


 


8.            Unconditional
Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other
party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted
by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors,
or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.


 


9.            Notices. All
notices, statements or other documents which are required or contemplated by this Note shall be made: (i) in writing and delivered
personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address
or fax number as may be designated in writing by such party or (iii) by electronic mail, to the electronic mail address most recently
provided to such party or such other electronic mail address as may be designated in writing by such party.  Any notice
or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the
business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after
delivery to an overnight courier service or five (5) days after mailing if sent by mail.


 




    	 		 



     


    

 


10.            Construction. THIS
NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES
THEREOF.


 


11.          Severability. Any
provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.


 


12.          Trust
Waiver.  Notwithstanding anything herein to the contrary, the Payee hereby waives any right, title, interest or claim
of any kind (“Claim”) in or to any distribution of or from the Trust Account, and hereby agrees not to seek
recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever; provided, however,
that if the Maker completes a Business Combination, the Maker shall repay the principal balance of this Note, which may be out
of the proceeds released to the Maker from the Trust Account.


 


13.          Amendment;
Waiver.  Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent
of the Maker and the Payee.


 


14.          Assignment.  No
assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law
or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent
shall be void; provided, however, that this Note shall be freely assignable by the Payee to any assignee.


 


15.          Optional
Conversion Into Warrants.


 


(a)          At
the Payee’s option, at any time prior to payment in full of the principal balance of this Note, the Payee may elect to convert
all or any portion of this Note into that number of warrants (the “Conversion Warrants”) equal to:
(i) the portion of the principal amount of the Note being converted pursuant to this Section 15, divided by (ii) $1.00, rounded
down to the nearest whole number. Each Conversion Warrant shall have the same terms and conditions as the warrants included in
the units issued by the Maker pursuant to a private placement to Payee, as described in Maker’s Registration Statement on
Form S-1 (333-[______]), including the transfer restrictions applicable thereto. The Conversion Warrants, the shares of Common
Stock underlying the Conversion Warrants and any other equity security of Maker issued or issuable with respect to the foregoing
by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, amalgamation, consolidation
or reorganization (the “Warrant Shares”), shall be entitled to the registration rights set forth in that certain
registration rights agreement between the Maker and the parties thereto, dated as of December [___], 2018.


 


(b)          Upon
any complete or partial conversion of the principal amount of this Note, (i) such principal amount shall be so converted and such
converted portion of this Note shall become fully paid and satisfied, (ii) the Payee shall surrender and deliver this Note, duly
endorsed, to Maker or such other address which Maker shall designate against delivery of the Conversion Warrants, (iii) Maker shall
promptly deliver a new duly executed Note to the Payee in the principal amount that remains outstanding, if any, after any such
conversion and (iv) in exchange for all or any portion of the surrendered Note, Maker shall, within five (5) business days following
receipt by Maker of Payee’s election to convert this Note pursuant to this Section 15, deliver to Payee the Conversion Warrants,
which shall bear such legends as are required, in the opinion of counsel to Maker or by any other agreement between Maker and the
Payee and applicable state and federal securities laws.


 


(c)          The
Payee shall pay any and all issue and other taxes that may be payable with respect to any issue or delivery of the Conversion Warrants
upon conversion of this Note pursuant hereto; provided, however, that the Payee shall not be obligated to pay any transfer taxes
resulting from any transfer requested by the Payee in connection with any such conversion.


 


(d)          The
Conversion Warrants shall not be issued upon conversion of this Note unless such issuance and such conversion comply with all applicable
provisions of law.


 


[Signature Page Follows]


 




    	 		 



     


    

 


IN WITNESS WHEREOF, Maker, intending
to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written. 


 


	 	CF Finance Acquisition Corp.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 


[Signature Page to the Promissory Note by CF
Finance Acquisition Corp. in favor of CF Finance Holdings, LLC for up to $750,000 for Working Capital]