Exhibit 10.7


 


PRIVATE WARRANTS PURCHASE AGREEMENT


 


THIS PRIVATE WARRANTS PURCHASE AGREEMENT, dated as
of September 14, 2021 (this “Agreement”), is entered into by and between Endurance Acquisition Corp., a Cayman Islands
exempted company (the “Company”), and Cantor Fitzgerald & Co. (the “Purchaser”).


 


WHEREAS, the Company intends to consummate an initial
public offering of the Company’s units (the “Public Offering”), each unit consisting of one of the Company’s
Class A ordinary shares, par value $0.0001 per share (each, a “Share”), and one-half of one redeemable warrant, each
whole warrant exercisable for one Share at an exercise price of $11.50 per Share, as set forth in the Company’s registration statement
on Form S-1 related to the Public Offering (the “Registration Statement”); and


 


WHEREAS, the Purchaser now wishes to purchase an
aggregate of 1,000,000 warrants (the “Warrants”), each Warrant entitling the holder thereof to purchase one Share at
an exercise price of $11.50 per Share.


 


NOW THEREFORE, in consideration of the mutual promises
contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties to this Agreement hereby, intending legally to be bound, agree as follows:


 


AGREEMENT


 


Section 1.             
Authorization, Purchase and Sale; Terms of the Warrants.


 


A.           Authorization
of the Warrants. The Company has duly authorized the issuance and sale of the Warrants to the Purchaser.


 


B.           Purchase and Sale of the Warrants.


 


(i)                
On the date of the consummation of the Public Offering or on such earlier date as may be mutually agreed upon by the Purchaser
and the Company (the “Initial Closing Date”), the Company shall issue and sell to the Purchaser, and the Purchaser
shall purchase from the Company, 1,000,000 Warrants at a price of $1.00 per Warrant for an aggregate purchase price of $1,000,000 (the
 “Purchase Price”), which shall be paid by wire transfer of immediately available funds to the Company at least one
business day prior to the Initial Closing Date in accordance with the Company’s wiring instructions. On the Initial Closing Date,
following the payment by the Purchaser of the Purchase Price by wire transfer of immediately available funds to the Company, the Company,
at its option, shall deliver a certificate evidencing the Warrants purchased on such date duly registered in the Purchaser’s name
to the Purchaser, or effect such delivery in book-entry form.


 






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C.            Terms
of the Warrants.


 





(i)                
 Each Warrant shall have its terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent, in connection
with the Public Offering (a “Warrant Agreement”). Notwithstanding the terms of the Warrant Agreement, the Private Placement
Warrants purchased by the Purchaser shall not be exercised more than five years from the Effective Date.


 


(ii)             
At the time of the closing of the Public Offering, the Company and the Purchaser shall enter into a registration rights agreement
(the “Registration Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser
relating to the Warrants and the Shares underlying the Warrants.


 


(iii)           
 The Purchaser acknowledges and agrees that the Private Placement Warrants and the related registration rights will be deemed compensation
by the Financial Industry Regulatory Authority (“FINRA”) and will therefore be subject to lock-up for a period of 180
days immediately following the date of effectiveness. Pursuant to FINRA Rule 5110(e)(1), the Private Placement Warrants and their component
parts and the related registration rights may not be sold, transferred, assigned, pledged or hypothecated or be the subject of any hedging,
short sale, derivative, put or call transaction that would result in the economic disposition of such securities by any person during
the foregoing 180 day period following the effective date of the Registration Statement except to any underwriter or selected dealers
participating in the Public Offering and the officers or partners, registered persons or affiliates or partners thereof.


 


(iv)            
 The obligation of the Purchaser to purchase and pay for the Private Placement Warrants as provided herein shall be subject to
the satisfaction of the conditions set forth in Section 4 of the Underwriting Agreement, dated the date hereof, by and between the Company
and the Purchaser, as representative of the underwriters named therein (the “Underwriting Agreement”).


 


Section 2.            
Representations and Warranties of the Company. As a material inducement to the Purchaser to enter into this Agreement and
purchase the Warrants, the Company hereby represents and warrants to the Purchaser (which representations and warranties shall survive
the Closing Dates) that:


 


A.           Organization and Corporate Power. The Company is a corporation duly organized, validly existing and in good standing under
the laws of the Cayman Islands and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably
be expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company possesses
all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and the Warrant Agreement.


 






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B.              Authorization;
No Breach.


 





(i)                
 The execution, delivery and performance of this Agreement and the Warrants have been duly authorized by the Company as of the
Initial Closing Date. This Agreement constitutes a valid and binding obligation of the Company, enforceable in accordance with its terms.
Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Warrants will constitute
valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing Dates.


 


(ii)             
The execution and delivery by the Company of this Agreement and the Warrants, the issuance and sale of the Warrants, the issuance
of the Shares upon exercise of the Warrants and the fulfillment of, and compliance with, the respective terms hereof and thereof by the
Company, do not and will not as of the Closing Dates (a) conflict with or result in a breach of the terms, conditions or provisions of,
(b) constitute a default under, (c) result in the creation of any lien, security interest, charge or encumbrance upon the Company’s
share capital or assets under, (d) result in a violation of, or (e) require any authorization, consent, approval, exemption or other action
by or notice or declaration to, or filing with, any court or administrative or governmental body or agency pursuant to the memorandum
and articles of association of the Company or the bylaws of the Company (in effect on the date hereof or as may be amended prior to completion
of the contemplated Public Offering), or any material law, statute, rule or regulation to which the Company is subject, or any agreement,
order, judgment or decree to which the Company is subject, except for any filings required after the date hereof under federal or state
securities laws.


 


C.                
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement,
the Shares issuable upon exercise of the Warrants will be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance
with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will have good title to the Warrants and the
Shares issuable upon exercise of such Warrants, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer
restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and state securities
laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.


 


D.               
Governmental Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental
authority is required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation
by the Company of any other transactions contemplated hereby.


 


E.                
Regulation D Qualification. Neither the Company nor, to its knowledge, any of its affiliates, officers, directors or beneficial
shareholders of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated pursuant to Rule 506(d)
of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”).


 





F.                 
 Additional Representations. The representations and warranties of the Company set forth in the Underwriting Agreement are hereby
incorporated herein.


 






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Section 3.               
Representations and Warranties of the Purchaser. As a material inducement to the Company to enter into this Agreement and
issue and sell the Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties
shall survive the Closing Dates) that:


 


A.             Organization
and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement.


 


B.               Authorization;
No Breach.


 


(i)                
This Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting
creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).


 


(ii)             
The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the
Purchaser does not and shall not as of the Closing Dates conflict with or result in a breach by the Purchaser of the terms, conditions
or provisions of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.


 


C.              Investment
Representations.


 


(i)                
The Purchaser is acquiring the Warrants and, upon exercise of the Warrants, the Shares issuable upon such exercise (collectively,
the “Securities”), for the Purchaser’s own account, for investment purposes only and not with a view towards,
or for resale in connection with, any public sale or distribution thereof.


 


(ii)             
The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D under the Securities
Act and the Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities
Act.


 


(iii)           
The Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from
the registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth and
accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein in order
to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.


 









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(iv)            
 The Purchaser’s decision to enter into this Agreement was not the a result of any general solicitation or general advertising
within the meaning of Rule 502(c) under the Securities Act.


 


(v)              
The Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the opportunity
to ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment in the Securities
involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an informed
investment decision with respect to the acquisition of the Securities.


 


(vi)            
The Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed
on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities by the
Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.


 


(vii)         
The Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or any state
securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold
in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the Company
nor any other person is under any obligation to register the Securities under the Securities Act or any state securities laws or to comply
with the terms and conditions of any exemption thereunder. In this regard, the Purchaser understands that the Securities and Exchange
Commission has taken the position that promoters or affiliates of a blank check company and their transferees, both before and after an
initial business combination, are deemed to be “underwriters” under the Securities Act when reselling the securities of a
blank check company. Based on that position, Rule 144 adopted pursuant to the Securities Act would not be available for resale transactions
of the Securities despite technical compliance with the requirements of such Rule, and the Securities can be resold only through a registered
offering or in reliance upon another exemption from the registration requirements of the Securities Act.


 


(viii)       
The Purchaser has such knowledge and experience in financial and business matters, knowledge of the high degree of risk associated
with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and
risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated
hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current financial needs and contingencies
and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities. The
Purchaser can afford a complete loss of its investment in the Securities.


 






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Section 4.               
Conditions of the Purchaser’s Obligations. The obligations of the Purchaser to purchase and pay for the Warrants
are subject to the fulfillment, on or before the Closing Dates, of each of the following conditions:


 


A.             Representations and Warranties. The representations and warranties of the Company contained in Section 2 shall be
true and correct at and as of the Closing Dates as though then made.


 


B.                
Performance. The Company shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by it on or before the Closing Dates.


 


C.                
No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization
having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this
Agreement or the Warrant Agreement.


 


D.              Warrant Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to
the Purchaser.


 


Section 5.               
Conditions of the Company’s Obligations. The obligations of the Company to the Purchaser under this Agreement are
subject to the fulfillment, on or before the Closing Dates, of each of the following conditions:


 


A.               
Representations and Warranties. The representations and warranties of the Purchaser contained in Section 3 shall
be true and correct at and as of the Closing Dates as though then made.


 


B.                
Performance. The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by the Purchaser on or before the Closing Dates.


 


C.                
No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization
having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this
Agreement or the Warrant Agreement.


 


D.               
Warrant Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to
the Company.


 


Section 6.               
Termination. This Agreement may be terminated at any time after December 31, 2021 upon the election by either the Company
or the Purchaser upon written notice to the other party if the closing of the Public Offering does not occur prior to such date.


 






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Section 7.               
Survival of Representations and Warranties. All of the representations and warranties contained herein shall survive the
Closing Dates.


 


Section 8.               
Definitions. Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in the
Registration Statement.


 


Section 9.               
Miscellaneous.


 


A.             Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement
by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether
so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement, other
than assignments by the Purchaser to affiliates thereof.


 


B.                
Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such
provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.


 


C.                
Counterparts. This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the
signatures of more than one party, but all such counterparts taken together shall constitute one and the same agreement.


 


D.               
Descriptive Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do
not constitute a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of
example rather than by limitation.


 


E.                
Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with
and governed by the laws of New York applicable to contracts wholly performed within the borders of such state, without giving effect
to the conflict of law principles thereof. The parties hereto irrevocably submit to the exclusive jurisdiction of any federal court sitting
in the Southern District of New York or any state court located in New York County, State of New York, over any suit, action or proceeding
arising out of or relating to this Agreement. To the fullest extent they may effectively do so under applicable law, the parties hereto
irrevocably waive and agree not to assert, by way of motion, as a defense or otherwise, any claim that they are not subject to the jurisdiction
of any such court, any objection that they may now or hereafter have to the laying of the venue of any such suit, action or proceeding
brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient
forum.


 


F.                 
Amendments. This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument
executed by all parties hereto.


 


[Signature page follows]


 









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IN WITNESS WHEREOF, the parties hereto have
executed this Agreement to be effective as of the date first set forth above.


 


	 	COMPANY:
	 	ENDURANCE ACQUISITION CORP.


 


	 	By:	/s/ Romeo A. Reyes
	 	 	Name: Romeo A. Reyes
	 	 	Title: Chief Financial Officer
	 	 	 
	 	PURCHASER:
	 	CANTOR FITZGERALD & CO.


 


	 	By:	/s/ Sage Kelly
	 	 	Name: Sage Kelly
	 	 	Title: Senior Managing Director and Head of Investment Banking


 


[Signature Page to Private
Warrants Purchase Agreement]