Exhibit 10.7


 


Tetragon Acquisition Corporation I

399 Park Avenue, 22nd Floor

New York, NY 10022


 


[●], 2021


 


TFG Asset Management L.P.


399 Park Avenue, 22nd Floor


New York, New York 10022


 


Re: Administrative Services Agreement


 


Ladies and Gentlemen:


 


This Administrative Services Agreement (this “Agreement”)
by and between Tetragon Acquisition Corporation I (the “Company”) and TFG Asset Management L.P., 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 Nasdaq Stock Market LLC
(the “Listing Date”) and continuing until the earlier of the consummation by the Company of an initial business combination
and the Company’s liquidation (in each case as described in the Registration Statement on Form S-1 (File No. [●]) filed with
the Securities and Exchange Commission) (such earlier date hereinafter referred to as the “Termination Date”), TFG Asset Management
L.P. (either itself or through its affiliates) shall make available to the Company, at 399 Park Avenue, 22nd Floor, New York, New York
10022 (or any successor location or other existing office locations of TFG Asset Management L.P. or any of its affiliates), certain office
space, administrative, financial and support services as may be reasonably requested by the Company. In exchange therefor, the Company
shall pay TFG Asset Management L.P. the sum of $10,000 per month on the Listing Date and continuing monthly thereafter until the Termination
Date.


 


TFG Asset Management L.P. hereby irrevocably waives
any and all right, title, interest, causes of action and claims of any kind (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 shareholders 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 as a result of, or arising out of, this Agreement, 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 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 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 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.


 


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.


 


This Agreement may be executed in one or more counterparts,
each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.


 


[Signature page follows]


 




     


     


    

 


	 	Very truly yours,
	 	 	 
	 	TETRAGON ACQUISITION CORPORATION I
	 	 	 
	 	By:	
	 		Name:
	 		Title:



 


	AGREED TO AND ACCEPTED BY:	 	 
	 	 	 
	tfg asset management L.P.	 	 



 


	By: 	Polygon Management Ltd., its General Partner	 



 


	By:		 
	  	Name:	 
		Title:	 



 


[Signature Page to Administrative
Services Agreement]