Exhibit 10.5


 


Crescent Cove Acquisition Corp.


 


[___], 2021


 


Crescent Cove Acquisition Sponsor LLC

530 Bush Street, Suite 703

San Francisco, CA 94108


 


Ladies and Gentlemen:


 


This letter will confirm our agreement
that, commencing on the effective date (the “Effective Date”) of the registration statement (the “Registration
Statement”) for the initial public offering (the “IPO”) of the securities of Crescent Cove
Acquisition Corp. (the “Company”) and continuing until the earlier of (i) the consummation by the
Company of an initial business combination and (ii) the Company’s liquidation (in each case as described in the Registration
Statement) (such earlier date hereinafter referred to as the “Termination Date”), Crescent Cove Acquisition
Sponsor LLC (the “Sponsor”) shall take steps directly or indirectly to make available to the Company
certain office space, secretarial and administrative services as may be required by the Company from time to time, situated at
530 Bush Street, Suite 703, San Francisco, CA 94108 (or any successor location). In exchange therefore, the Company shall pay the
Sponsor a sum of up to $10,000 per month commencing on the Effective Date and continuing monthly thereafter until the Termination
Date. The Sponsor hereby agrees that it does not have any right, title, interest or claim of any kind (a “Claim”)
in or to any monies that may be set aside in a trust account (the “Trust Account”) that may be established
in connection with and upon the consummation of the IPO and hereby irrevocably waives any Claim it presently has or may have in
the future as a result of, or arising out of, any negotiations, contracts or agreements with the Company and will not 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.


 


The parties may not
assign this letter agreement and any of their rights, interests, or obligations hereunder without the consent 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
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 that will apply the laws of another jurisdiction.


 


This letter 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. Only one such counterpart signed by the party against whom enforceability
is sought needs to be produced to evidence the existence of this letter agreement.


 


[Signature Page Follows]


 




     


     

    

 


	 	 	Very truly yours,
	 	 	 
	 	 	CRESCENT COVE ACQUISITION CORP.
	 	 	 	 	                   
	 	 	 	By:	 
	 	 	 	Name: 	 
	 	 	 	Title:	 
	 	 	 
	AGREED TO AND ACCEPTED BY:	 	 
	 	 	 
	CRESCENT COVE ACQUISITION SPONSOR LLC	 	 
	 	                   	 	 
	By:	 	 	 
	Name: 	 	 	 
	Title: