Document:

Exhibit 10.3

 

EXECUTION
VERSION

 

SEVENTEENTH AMENDMENT TO AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

THIS SEVENTEENTH AMENDMENT
TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, dated as of November 4, 2021 (this “Amendment”) is entered
into among AMERISOURCE RECEIVABLES FINANCIAL CORPORATION, a Delaware corporation (in such capacity, the “Seller”),
AMERISOURCEBERGEN DRUG CORPORATION, a Delaware corporation, as the initial Servicer (in such capacity, the “Servicer”),
the PURCHASER AGENTS and PURCHASERS listed on the signature pages hereto, and MUFG BANK, LTD. (F/K/A THE BANK OF TOKYO-MITSUBISHI
UFJ, LTD.), as administrator (in such capacity, the “Administrator”).

 

R E
C I T A L S

 

The Seller, Servicer, the
Purchaser Groups, and the Administrator are parties to that certain Amended and Restated Receivables Purchase Agreement, dated as of April 29,
2010 (as amended, supplemented or otherwise modified from time to time, the “Agreement”).

 

The parties hereto desire
to amend the Agreement as hereinafter set forth.

 

NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.            Certain
Defined Terms. Capitalized terms used but not defined herein shall have the meanings set forth for such terms in Exhibit I
to the Agreement.

 

2.            Amendments
to the Agreement. As of the Effective Date (as defined below), the Agreement is hereby amended to incorporate the changes shown on
the marked pages of the Agreement attached hereto as Exhibit A.

 

3.            Representations
and Warranties; Covenants. Each of the Seller and the Servicer (on behalf of the Seller) hereby certifies, represents and warrants
to the Administrator, each Purchaser Agent and each Purchaser that on and as of the date hereof:

 

(a)            each
of its representations and warranties contained in Article V of the Agreement is true and correct, in all material respects,
as if made on and as of the Effective Date;

 

(b)            no
event has occurred and is continuing, or would result from this Amendment or any of the transactions contemplated herein, that constitutes
an Amortization Event or Unmatured Amortization Event;

 

(c)            the
Facility Termination Date for all Purchaser Groups has not occurred; and

 

(d)            the
Credit Agreement has not been amended since September 18, 2019.

 

4.            Effect
of Amendment. Except as expressly amended and modified by this Amendment, all provisions of the Agreement shall remain in full force
and effect. After this Amendment becomes effective, all references in the Agreement and each of the other Transaction Documents to “this
Agreement”, “hereof”, “herein”, or words of similar effect referring to the Agreement shall be deemed to
be references to the Agreement, as amended by this Amendment. This Amendment shall not be deemed to expressly or impliedly waive, amend
or supplement any provision of the Agreement (or any related document or agreement) other than as expressly set forth herein.

 

     

     

    

 

5.            Effectiveness.
This Amendment shall become effective on the date hereof (the “Effective Date”) upon satisfaction of each of the
following conditions:

 

(a)            receipt
by the Administrator and each Purchaser Agent of counterparts of (i) this Amendment and (ii) the amended and restated fee letter,
dated as of the date hereof, by and among the Seller, the Servicer, the Administrator and each Purchaser Agent; and

 

(b)            the
Administrator and each Purchaser Agent shall have received all accrued and unpaid fees, costs and expenses to the extent then due and
payable to it or the Purchasers on the Effective Date.

 

6.            Counterparts.
This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, and each counterpart shall
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. Counterparts of this
Amendment may be delivered by facsimile transmission or other electronic transmission, and such counterparts shall be as effective as
if original counterparts had been physically delivered, and thereafter shall be binding on the parties hereto and their respective successors
and assigns.

 

7.            Governing
Law. This Amendment shall be governed by, and construed in accordance with the law of the State of New York without regard to any
otherwise applicable principles of conflicts of law (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law).

 

8.            Section Headings.
The various headings of this Amendment are inserted for convenience only and shall not affect the meaning or interpretation of this Amendment,
the Agreement or any other Transaction Document or any provision hereof or thereof.

 

9.            Transaction
Document. This Amendment shall constitute a Transaction Document under the Agreement.

 

10.            Severability.
Each provision of this Amendment shall be severable from every other provision of this Amendment for the purpose of determining the legal
enforceability of any provision hereof, and the unenforceability of one or more provisions of this Amendment in one jurisdiction shall
not have the effect of rendering such provision or provisions unenforceable in any other jurisdiction.

 

11.     Ratification. After
giving effect to this Amendment and the transactions contemplated hereby, all of the provisions of the Performance Undertaking shall
remain in full force and effect and the Performance Guarantor hereby ratifies and affirms the Performance Undertaking and
acknowledges that the Performance Undertaking has continued and shall continue in full force and effect in accordance with its
terms.

 

    2 

     

    

 

[signature pages begin on next page]

 

    3 

     

    

 

IN WITNESS WHEREOF, the parties
have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.

 

	 	AMERISOURCE RECEIVABLES FINANCIAL CORPORATION, as Seller

 

	 	By:	/s/ J. F. Quinn

	 	Name:	J. F. Quinn

	 	Title:	Senior Vice President & Corporate Treasurer

 

	 	AMERISOURCEBERGEN DRUG CORPORATION, as initial Servicer

 

	 	By:	/s/ J. F. Quinn

	 	Name:	J. F. Quinn

	 	Title:	Senior Vice President & Corporate Treasurer

 

Acknowledged and Agreed

 

AMERISOURCEBERGEN CORPORATION

 

	By:	/s/ J. F. Quinn	 
	Name:	J. F. Quinn	 
	Title:	Senior Vice President & Corporate Treasurer	 

 

    	 	S-1	Seventeenth Amendment to RPA 

(ARFC)

     

    

 

	 	MUFG BANK, LTD.,

as Administrator

 

	 	By:	/s/ Eric Williams

	 	Name:	Eric Williams

	 	Title:	Managing Director

 

	 	VICTORY RECEIVABLES CORPORATION, 

as an Uncommitted Purchaser

 

	 	By:	/s/ Kevin J. Corrigan

	 	Name:	Kevin J. Corrigan

	 	Title:	Vice President

 

	 	MUFG BANK, LTD., 

as Purchaser Agent for Victory Receivables Corporation

 

	 	By:	/s/ Eric Williams

	 	Name:	Eric Williams

	 	Title:	Managing Director

 

	 	MUFG BANK, LTD.,

 as Related Committed Purchaser for Victory Receivables Corporation

 

	 	By:	/s/ Eric Williams

	 	Name:	Eric Williams

	 	Title:	Managing Director

 

    	 	S-2	Seventeenth Amendment to RPA

 (ARFC)

     

    

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

 as an Uncommitted Purchaser

 

	 	By:	/s/ Jason Barwig

	 	Name:	Jason Barwig

	 	Title:	Vice President

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

	 	as Purchaser Agent and

	 	Related Committed Purchaser

	 	for Wells Fargo Bank, National Association

 

	 	By:	/s/ Jason Barwig

	 	Name:	 Jason Barwig

	 	Title:	Vice President

    	 	S-3	Seventeenth Amendment to RPA 

(ARFC)

     

    

 

	 	LIBERTY STREET FUNDING LLC, as an Uncommitted Purchaser
	 	 
	 	By:	/s/ Kevin J. Corrigan
	 	Name:	Kevin J. Corrigan
	 	Title:	Vice President
	 	 
	 	THE BANK OF NOVA SCOTIA,
	 	as Purchaser Agent and
	 	Related Committed Purchaser
	 	for Liberty Street Funding LLC
	 	 
	 	By:	/s/ Doug Noe
	 	Name:	Doug Noe
	 	Title:	Managing Director

 

		S-4	Seventeenth Amendment to RPA 

(ARFC)

    

     

    

 

	 	PNC
    BANK, NATIONAL ASSOCIATION, 

as a Purchaser Agent,
	 	Uncommitted
    Purchaser and Related Committed Purchaser
	 	 
	 	By:	/s/ Eric Bruno
	 	Name: 	Eric Bruno
	 	Title:	Senior Vice President

 

		S-5	Seventeenth Amendment to RPA 

(ARFC)

    

     

    

 

	 	MIZUHO BANK, LTD.,
	 	as a Purchaser Agent, 
	 	Uncommitted Purchaser and
	 	Related Committed Purchaser
	 	 
	 	By:	/s/ Richard A. Burke
	 	Name: 	Richard A. Burke
	 	Title:	Managing Director

 

		S-6	Seventeenth Amendment to RPA 

(ARFC)

    

     

    

 

	 	THE TORONTO-DOMINION BANK,
	 	as a Purchaser Agent and 

Related Committed Purchaser
	 	 
	 	By:	/s/ Luna Mills
	 	Name: 	Luna Mills
	 	Title:	Managing Director
	 	 
	 	COMPUTERSHARE TRUST COMPANY OF CANADA, in its capacity as trustee of RELIANT TRUST, by its U.S. Financial Services Agent, THE TORONTO-DOMINION BANK, 
	 	as an Uncommitted Purchaser
	 	 
	 	By:	/s/ Luna Mills
	 	Name: 	Luna Mills
	 	Title:	Managing Director

 

		S-7	Seventeenth Amendment to RPA 

(ARFC)

    

     

    

 

EXHIBIT A

 

(attached)

 

		Exhibit A-1 	Seventeenth Amendment to RPA 
 (ARFC)

 

     

     

    

 

 

EXECUTION
VERSION

 Exhibit A to OmnibusSeventeenth
Amendment dated May 13,November 4,
2021

 CONFORMED COPY includes

 First Amendment dated 4/28/11

 Second Amendment dated 10/28/11

 Third Amendment dated 11/16/12

 Fourth Amendment
dated 1/16/13

 Fifth Amendment dated 6/28/13

 Sixth Amendment dated 10/7/13

 Seventh Amendment dated 7/17/14

 Eighth Amendment dated 12/5/14

Omnibus Amendment dated 11/4/15

 Tenth Amendment dated 6/21/16

 Eleventh Amendment 11/18/16

 Twelfth Amendment 12/18/17

 Thirteenth Amendment
10/31/2018

 Fourteenth Amendment 9/18/19

 Fifteenth Amendment 10/16/20

 Omnibus Amendment 5/13/21

 

AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT

 

DATED AS OF APRIL 29, 2010

 

AMONG

 

AMERISOURCE RECEIVABLES FINANCIAL CORPORATION, AS SELLER,

 

AMERISOURCEBERGEN DRUG CORPORATION, AS INITIAL SERVICER,

 

THE VARIOUS PURCHASERS GROUPS FROM TIME TO TIME PARTY HERETO

 

AND

 

MUFG BANK, LTD.
(F/K/A THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.), AS

ADMINISTRATOR

 

     

     

    

 

or otherwise
funded by Reliant Trust for the Calculation Period then most recently ended in accordance with Article II.

 

Section 3.4      Default
Rate. From and after the occurrence of an Amortization Event, all Receivable Interests shall accrue Yield at the Default Rate.

 

ARTICLE IV.

 

BANK RATE FUNDINGS

 

Section 4.1      Bank
Rate Fundings. Prior to the occurrence of an Amortization Event, the portion of outstanding Invested Amount of each Receivable Interest
funded with Bank Rate Fundings shall accrue Yield for each day during its Interest Period at the applicable Yield Rate in accordance
with the terms and conditions hereof. If any undivided interest in a Receivable Interest initially funded with Commercial Paper is sold
(or otherwise participated) to the Liquidity Providers pursuant to a Liquidity Agreement, such undivided interest in such Receivable
Interest shall be deemed to have an Interest Period commencing on the date of such sale.

 

Section 4.2      Yield
Payments. On the Settlement Date for each Receivable Interest that is funded with a Bank Rate Funding, Seller shall pay to each applicable
Purchaser Agent (for the benefit of its Purchaser Group) an aggregate amount equal to the accrued and unpaid Yield thereon for the entire
Interest Period of each related Bank Rate Funding in accordance with Article II.

 

Section 4.3
     [Reserved].

 

Section 4.4      Suspension
of the LIBO Rate. If any Purchaser or Liquidity Provider notifies the related Purchaser Agent that it has determined that funding
its ratable share of the Bank Rate Fundings at or by reference to a LIBO Rate would violate any applicable law, rule, regulation, or
directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and
maturity appropriate to match fund its Bank Rate Funding at or by reference to such LIBO Rate are not available or (ii) such LIBO
Rate does not accurately reflect the cost of acquiring or maintaining a Bank Rate Funding at such LIBO Rate, then such Purchaser Agent
shall give notice thereof to the Seller by telephone, facsimile or email as promptly as practicable thereafter and, until such Purchaser
Agent notifies the Seller that the circumstances giving rise to such notice no longer exist, (a) no portion of the Invested Amount
shall be funded at the LIBO Rate or at the Alternate Base Rate determined by reference to the LIBO Rate and (b) the Yield for any
outstanding portions of the Invested Amount then funded at the LIBO Rate or at the Alternate Base Rate determined by reference to the
LIBO Rate shall, on the last day of the then current Interest Period, be converted to the Alternate Base Rate determined by reference
to clause (a)(ii) of the definition of the Alternate Base Rate.

 

Section 4.5      Default
Rate. From and after the occurrence of an Amortization Event, all Bank Rate Fundings shall accrue Yield at the Default Rate.

 

Section 4.6
     Effect of Benchmark
Transition EventReplacement
Setting.

 

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(a)            Benchmark
Replacement.

 

(i)             Notwithstanding
anything to the contrary herein or in any other Transaction Document, if a Benchmark Transition Event or,
an Early Opt-in Election or an Other Benchmark Rate Election, as applicable, and its related Benchmark
Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then (x) if a
Benchmark Replacement is determined in accordance with clause (a)(1) or (a)(2) of the definition of “Benchmark Replacement”
for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Transaction
Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent
of any other party to, this Agreement or any other Transaction Document and (y) if a Benchmark
Replacement is determined in accordance with clause (a)(3) or clause (c) of the definition
of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for
all purposes hereunder and under any Transaction Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City
time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Purchasers without any amendment
to, or further action or consent of any other party to, this Agreement or any other Transaction Document so long as the Administrative
AgentAdministrator has not received, by such time, written notice of objection
to such Benchmark Replacement from the Required Purchaser Agents.

 

(ii)             Notwithstanding
anything to the contrary herein or in any other Transaction Document, if a Term SOFR Transition Event and its related Benchmark Replacement
Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then the applicable Benchmark
Replacement will replace the then-current Benchmark for all purposes hereunder or under any Transaction Document in respect of such Benchmark
setting and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, this Agreement
or any other Transaction Document; provided that this clause (ii) shall not be effective unless the Administrator has delivered
to the Purchasers and the Seller a Term SOFR Notice. For the avoidance of doubt, the Administrator shall
not be required to deliver a Term SOFR Notice after a Term SOFR Transition Event and may elect or not elect to do so in its sole discretion.

 

(b)            Benchmark
Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, the Administrator will have the
right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any
other Transaction Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any
further action or consent of any other party to this Agreement or any other Transaction Document.

 

(c)            Notices;
Standards for Decisions and Determinations. The Administrator will promptly notify the Seller and the Purchasers of (i) any
occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or,
an Early Opt-in Election or
an Other Benchmark Rate Election, as applicable, and its related Benchmark Replacement Date, (ii) the implementation
of any Benchmark Replacement, (iii) the effectiveness of any Benchmark

 

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(iii)            any mismatch between the Benchmark or the Benchmark Replacement
and any of the Seller’s other financing instruments (including those that are intended as hedges).

 

(g)            London Interbank Offered Rate Benchmark
Transition Event. On March 5, 2021, the ICE Benchmark Administration (the “IBA”), the administrator of the London
interbank offered rate, and the Financial Conduct Authority (the “FCA”), the regulatory supervisor of the IBA, announced in
public statements (the "Announcements") that the final publication or representativeness date for (i) 1-week and 2-month
London interbank offered rate tenor settings will be December 31, 2021 and (ii) overnight, 1-month, 3-month, 6-month and 12-month
London interbank offered rate tenor settings will be June 30, 2023. No successor administrator for the IBA was identified in such
Announcements. The parties hereto agree and acknowledge that the Announcements resulted in the occurrence of a Benchmark Transition Event
with respect to the London interbank offered rate pursuant to the terms of this Agreement and that any obligation of the Administrator
to notify any parties of such Benchmark Transition Event pursuant to clause (c) of this Section 4.6 shall be deemed satisfied.

 

(h)            Certain
Defined Terms. As used in this Section 4.6:

 

“Available
Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (x) if
the then-current Benchmark is a term rate, any tenor for such Benchmark or (y) otherwise, any payment period for interest calculated
with reference to such Benchmark, as applicable, that is or may be used for determining the length of an Interest Period pursuant to this
Agreement as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition
of “Interest Period” pursuant to clause (d) of this Section 4.6.

 

“Benchmark”
means, initially, USD LIBOR; provided that if a Benchmark Transition Event, a Term SOFR Transition Event or,
an Early Opt-in Election or an Other Benchmark Rate Election, as applicable, and its related Benchmark
Replacement Date have occurred with respect to USD LIBOR or the then-current Benchmark, then “Benchmark” means the applicable
Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (ba)
of this Section 4.6.

 

“Benchmark
Replacement” means, for any Available Tenor,

 

(a) with respect to any Benchmark Transition
Event or Early Opt-in Election, the first alternative set forth in the order below that can be determined by the Administrator for the
applicable Benchmark Replacement Date:

 

		(1)	the sum of: (A) Term SOFR and (B) the related Benchmark Replacement Adjustment;

 

		(2)	the sum of: (A) Daily Simple SOFR and (B) the related Benchmark Replacement Adjustment;

 

		(3)	the sum of: (A) the alternate benchmark rate that has been selected by the Administrator as the replacement for the then-current
Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any
selection or recommendation of a replacement benchmark rate or the mechanism for determining
such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark
rate as a replacement for the then-current Benchmark for U.S. dollar-denominated syndicated credit facilities at such time and (B) the
related Benchmark Replacement Adjustment; or

 

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(b)            with
respect to any Term SOFR Transition Event, the sum of (i) Term SOFR and (ii) the related Benchmark
Replacement Adjustment; or

 

(c)            with
respect to any Other Benchmark Rate Election, the sum of: (i) the
alternate benchmark rate that has been selected by the Administrator and the
Seller as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to any evolving
or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for U.S. dollar-denominated
syndicated credit facilities at such time and (ii) the related Benchmark Replacement Adjustment;

 

provided that, in the case of clause (a)(1) or clause (b), the
applicable Unadjusted Benchmark Replacement is displayed on a screen or other information service that publishes such rate from time
to time as selected by the Administrator in its reasonable discretion. If the Benchmark Replacement as determined pursuant to clause
(a)(1), (a)(2) or (a)(3) or,
clause (b) or
clause (c) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes
of this Agreement and the other Transaction Documents.

 

“Benchmark
Replacement Adjustment” means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark
Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:

 

		(1)	for purposes of clauses (a)(1) and (a)(2) of the definition of “Benchmark Replacement,” the first alternative
set forth in the order below that can be determined by the Administrator:

 

		(a)	the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value
or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected or recommended
by the Relevant Governmental Body for the replacement of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark
Replacement;

 

		(b)	the spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first
set for such Interest Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be
effective upon an index cessation event with respect to such Available Tenor of such Benchmark;

 

		(2)	for purposes of clause (a)(3) of the definition of “Benchmark Replacement,” the spread adjustment, or method for
calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrator
and the Seller giving due consideration to (i) any selection or recommendation of a spread
adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Available Tenor of such Benchmark
with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date or
(ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining
such spread adjustment, for the replacement of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark Replacement
for U.S. dollar-denominated syndicated credit facilities; and

 

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		(3)	for purposes of clause (b) of the definition of “Benchmark Replacement,” the spread adjustment, or method for calculating
or determining such spread adjustment, (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement
is first set for such Interest Period that has been selected or recommended by the Relevant Governmental Body for the replacement of such
Available Tenor of USD LIBOR with a SOFR-based rate; and

 

		(4)	for purposes of clause (c) of the definition of “Benchmark Replacement,” the spread adjustment, or method for
calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrator
and the Seller giving due consideration to any evolving or then-prevailing market convention for determining a spread adjustment, or method
for calculating or determining such spread adjustment, for the replacement of such Available Tenor of such Benchmark with the applicable
Unadjusted Benchmark Replacement for U.S. dollar-denominated syndicated credit facilities;

 

provided that, (x) in the case of clause (1) above, such
adjustment is displayed on a screen or other information service that publishes such Benchmark Replacement Adjustment from time to time
as selected by the Administrator in its reasonable discretion and (y) if the then-current Benchmark is a term rate, more than one
tenor of such Benchmark is available as of the applicable Benchmark Replacement Date and the applicable Unadjusted Benchmark Replacement
that will replace such Benchmark in accordance with this Section 4.6 will not be a term rate, the Available Tenor of such Benchmark
for purposes of this definition of “Benchmark Replacement Adjustment” shall be deemed to be, with respect to each Unadjusted
Benchmark Replacement having a payment period for interest calculated with reference thereto, the Available Tenor that has approximately
the same length (disregarding business day adjustments) as such payment period.

 

“Benchmark
Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or
operational changes (including changes to the definition of “Alternate Base Rate,” the definition of “Interest Period,”
the definition of “Business Day,” the definition of “Bank Rate,” timing and frequency of determining rates and
making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods,
the applicability of breakage provisions and other technical, administrative or operational matters) that the Administrator decides may
be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the
Administrator in a manner substantially consistent with market practice (or, if the Administrator decides that adoption of any portion
of such market practice is not administratively feasible or if the Administrator determines that no market practice for the administration
of such Benchmark

 

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Replacement exists, in such other manner of administration as the Administrator
decides is reasonably necessary in connection with the administration of this Agreement and the other Transaction Documents).

 

“Benchmark
Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark:

 

		(1)	in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (a) the
date of the public statement or publication of information referenced therein and (b) the date on which the administrator of such
Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors
of such Benchmark (or such component thereof);

 

		(2)	in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or
publication of information referenced therein;

 

		(3)	in the case of a Term SOFR Transition Event, the date that is thirty (30) days after the Administrator has provided a Term SOFR Notice
to the Purchasers and the Seller pursuant to clause (a)(ii) of this Section 4.6; or

 

		(4)	in the case of an Early Opt-in Election or an Other Benchmark Rate Election,
the sixth (6th) Business Day after the date notice
of such Early Opt-in Election or Other Benchmark Rate Election, as applicable, is provided to
the Purchasers, so long as the Administrator has not received, by 5:00 p.m. (New York City time) on the fifth (5th)
Business Day after the date notice of such Early Opt-in Election or Other Benchmark Rate Election, as applicable,
is provided to the Purchasers, written notice of objection to such Early Opt-in Election or Other
Benchmark Rate Election, as applicable, from the Required Purchaser Agents.

 

For the avoidance of doubt, (i) if the event giving rise to the
Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark
Replacement Date will be deemed to have occurred prior to the Reference Time for such determination and (ii) the “Benchmark
Replacement Date” will be deemed to have occurred in the case of clause (1) or (2) with respect to any Benchmark upon
the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark
(or the published component used in the calculation thereof).

 

“Benchmark
Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark:

 

		(1)	a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component
used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark
(or such component thereof), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor
administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); SOFR or any other rate based upon SOFR) as a benchmark rate
(and such syndicated credit facilities are identified in such notice and are publicly available for review), and

 

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		(2)	the joint election by the Administrator and the Seller to trigger a fallback from USD LIBOR and the provision by the Administrator
of written notice of such election to the Purchasers.

 

“Floor”
means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the
modification, amendment or renewal of this Agreement or otherwise) with respect to USD LIBOR.

 

“ISDA
Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc.
or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives
published from time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto.

 

“Other
Benchmark Rate Election” means, if the then-current Benchmark is USD LIBOR, the occurrence of:

 

		(1)	a notification by the Administrator to (or the request by the Seller to the Administrator to notify) each of the other parties
hereto that at least five (5) currently outstanding U.S. dollar-denominated syndicated credit facilities at such time contain (as
a result of amendment or as originally executed), in lieu of a USD LIBOR-based rate, a term benchmark rate that is not a SOFR-based rate
as a benchmark rate (and such syndicated credit facilities are identified in such notice and are publicly available for review), and

 

		(2)	the joint election by the Administrator and the Seller to trigger a fallback from USD LIBOR and the provision by the Administrator
of written notice of such election to the Purchasers.

 

“Reference
Time” with respect to any setting of the then-current Benchmark means (1) if such Benchmark is USD LIBOR, 11:00
a.m. (London time) on the day that is two London banking days preceding the date of such setting, and (2) if such Benchmark
is not USD LIBOR, the time determined by the Administrator in its reasonable discretion.

 

“Relevant
Governmental Body” means the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New
York, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank
of New York, or any successor thereto.

 

“SOFR”
means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business
Day published by the SOFR Administrator on the SOFR Administrator’s Website on the immediately succeeding Business Day.

 

“SOFR
Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight
financing rate).

 

“SOFR
Administrator’s Website” means the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org,
or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time.

 

    17

     

    

 

“Term
SOFR” means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term
rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

 

“Term
SOFR Notice” means a notification by the Administrator to the Purchasers and the Seller of the occurrence of a Term
SOFR Transition Event.

 

“Term
SOFR Transition Event” means the determination by the Administrator that (a) Term SOFR has been recommended
for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrator
and (c) a Benchmark Transition Event or, an Early Opt-in
Election or an Other Benchmark Rate Election, as applicable, has previously occurred resulting in the
replacement of the then-current Benchmark for all purposes hereunder and under any Transaction Document in accordance with this Section 4.6
with a Benchmark Replacement the Unadjusted Benchmark Replacement component of which is not Term SOFR.

  

“Unadjusted
Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

 

“USD
LIBOR” means the London interbank offered rate for U.S. dollars.

 

ARTICLE V.

 

REPRESENTATIONS AND WARRANTIES

 

Section 5.1     Representations
and Warranties of the Seller. The Seller hereby represents and warrants to the Administrator, each Purchaser Agent and each Purchaser,
as to itself, as of the date hereof and as of the date of each Incremental Purchase and the date of each Reinvestment that:

 

(a)      Organization
and Qualification. The Seller’s only jurisdiction of organization is correctly set forth in the preamble of this Agreement.
The Seller is a corporation duly organized, validly existing and in good standing under the Laws of its jurisdiction of incorporation.
The Seller is duly qualified to do business as a foreign corporation in good standing in each jurisdiction in which the ownership of
its properties or the nature of its activities (including transactions giving rise to Receivables), or both, requires it to be so qualified
or, if not so qualified, the failure to so qualify would not have a material adverse effect on its financial condition or results of
operations.

 

(b)       Authority.
The Seller has the legal power and authority to execute and deliver the Transaction Documents, to make the sales provided for herein
and to perform its obligations under this Agreement and the other Transaction Documents.

 

(c)        Execution
and Binding Effect. Each of the Transaction Documents to which the Seller is a party has been duly and validly executed and delivered
by the Seller and (assuming the due and valid execution and delivery thereof by the other parties thereto), constitutes a legal, valid
and binding obligation of the Seller enforceable in accordance with its terms, except as the enforceability thereof may be limited by
bankruptcy, insolvency, reorganization or other similar Laws of general application relating to or affecting the enforcement of creditors’
rights or by general principles of equity, and will vest absolutely and

 

    18

     

    

 

“Authorized
Officer” means, with respect to any Person, its president, corporate controller, treasurer, assistant treasurer,
chief accounting officer or chief financial officer.

 

“Available
Commitment” means, with respect to each Related Committed Purchaser the excess, if any, of such Related Committed
Purchaser’s Commitment over the amount funded as of such date by such Related Committed Purchaser with respect to outstanding principal
of the Receivable Interests under the Liquidity Agreement for the Conduit Purchaser, if any, in the related Purchaser Group.

 

“Bank
Funding” means the funding of a Receivable Interest hereunder by any Purchaser (other than Reliant Trust) other than
through the issuance of Commercial Paper and that is not a Liquidity Funding.

 

“Bank
Rate” means, with respect to each Receivable Interest that is funded through a Bank Funding, (a) the LIBO Rate
or (b) if the LIBO Rate is not available in accordance with Section 4.4 or 4.6, the Alternate Base Rate.

 

“Bank
Rate Funding” means a Bank Funding or a Liquidity Funding.

 

“Benchmark
Replacement” means the sum of: (a) the
alternate benchmark rate (which may include Term SOFR) that has been selected by the Administrator and
the Seller giving due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining
such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a rate of
interest as a replacement to the LIBO Rate for U.S. dollar-denominated syndicated credit facilities and (b) the Benchmark
Replacement Adjustment; provided that, if the Benchmark Replacement as so determined would
be less than zero, the Benchmark Replacement will be deemed to be zero for the purposes of this Agreement.

 

“Beneficial
Ownership Rule” means 31 C.F.R. § 1010.230.

 

“Broken
Funding Costs” means for any Receivable Interest which: (i) has its Invested Amount reduced (I) if funded
with Commercial Paper, without compliance by Seller with the notice requirements hereunder or (II) if funded by reference to (x) the
Yield Rate and based upon the LIBO Rate, on any date other than the Settlement Date or (ii) does not become subject to an Aggregate
Reduction following the delivery of any Reduction Notice or (iii) is assigned by any Conduit Purchaser to the Liquidity Providers
under the related Liquidity Agreement or terminated prior to the date on which it was originally scheduled to end; an amount equal to
the excess, if any, of (A) the CP Costs or Yield (as applicable) that would have accrued during the remainder of the Interest Periods
or the tranche periods for Commercial Paper determined by the applicable Purchaser Agent to relate to such Receivable Interest (as applicable)
subsequent to the date of such reduction, assignment or termination (or in respect of clause (ii) above, the date such Aggregate
Reduction was designated to occur pursuant to the Reduction Notice) of the Invested Amount of such Receivable Interest if such reduction,
assignment or termination had not occurred or such Reduction Notice had not been delivered, over (B) the sum of (x) to the
extent all or a portion of such Invested Amount is allocated to another Receivable Interest, the amount of CP Costs or Yield actually
accrued during the remainder of such period on such Invested Amount for the new Receivable Interest, and (y) to the extent such
Invested Amount is not allocated to another Receivable Interest, the income, if any, actually received during the such
Receivable and the date of issuance of a credit memo with respect to such Receivable (weighted based on the amount of such credit memo
when issued), as determined by the Servicer based upon the results of the most recent agreed upon procedures audit or
as otherwise agreed in writing among the Servicer, the Administrator and each Purchaser Agent, such Credit Memo Lag Time
to be recalculated by the Servicer upon each subsequent agreed upon procedures audit and effective with the first Settlement Reporting
Date following such recalculation (with the Credit Memo Lag Time as so recalculated remaining in effect until the next Credit Memo Lag
Time recalculation). On and after delivery of the agreed upon procedures audit next completed after
April 30, 2009, the “Credit Memo Lag Time” will be calculated based upon a random sample of not less than 75 credit
memos. As of April 30, 2009, the Credit Memo Lag Time is 54.2.

 

    19

     

    

 

“Cut-Off
Date” means the last day of a Calculation Period.

 

“Daily Eurodollar Rate”
means, on any date of determination, the rate per annum determined on the basis of the London interbank offered rate administered by ICE
Benchmark Administration Limited (or any other Person which takes over the administration of that rate) for deposits in Dollars for a
period of thirty days as it appears on the relevant display page on the Bloomberg Professional Service (or any successor or substitute
page or service providing quotations of interest rates applicable to Dollar deposits in the London interbank market comparable to
those currently provided on such page, as determined by the Administrator from time to time), at approximately 11:00 a.m., London time,
two (2) Business Days prior to such date of determination; provided that if the Daily Eurodollar Rate, determined as
provided above, would be less than zero, the Daily Eurodollar Rate shall for all purposes of this Agreement be zero.

 

“Days
Sales Outstanding” means, as of any day, an amount equal to the product of (x) 91, multiplied by (y) the
amount obtained by dividing (i) the aggregate Outstanding Balance of Receivables as of the most recent Cut-Off Date, by (ii) the
aggregate amount of Receivables created during the three (3) Calculation Periods including and immediately preceding such Cut-Off
Date.

 

“Deemed
Collections” means Collections deemed received by Seller under Section 1.4(a).

 

“Default
Horizon Ratio” means, as of any Cut-Off Date, the ratio (expressed as a decimal) computed by dividing (i) the
aggregate amount of Receivables originated by the Originators during the four Calculation Periods ending on such Cut-Off Date, by (ii) the
Net Pool Balance as of such Cut-off Date.

 

“Default
Rate” means a rate per annum equal to the sum of (a) the greater of (i) the Prime Rate and (ii) one-half
of one percent (0.50%) above the Federal Funds Effective Rate and (b) 2.00%.

 

“Default
Ratio” means, as of any Cut-Off Date, the ratio (expressed as a percentage) computed by dividing (x) the total
amount of Receivables which became Defaulted Receivables during the Calculation Period that includes such Cut-Off Date, by (y) the
aggregate amount of receivables originated by the Originators during the Calculation Period occurring five months prior to the Calculation
Period ending on such Cut-Off Date.

 

    20

     

    

 

(o)            which
does not provide the Obligor with the right to obtain any cash advance thereunder;

 

(p)            which has not been selected in a manner
materially adverse to any Purchaser;

 

(q)            which
by its terms has Invoice Payment Terms of up to 30 days; provided, that Receivables due from an Extended Term Obligor
may have Invoice Payment Terms no longer than the applicable Extended Term (“Extended Term Receivables”); provided,
further, that an amount not to exceed 510%
of aggregate of all outstanding Receivables, excluding Extended Term Receivables, may have Invoice Payment Terms of between 31 and 60
days; and provided, further, that an amount not to exceed
10% of aggregate of all
outstanding Receivables may have Invoice Payment Terms of between 61 and 90 days; and provided, further, that
an amount not to exceed 5% of aggregate of all outstanding Receivables may have Invoice
Payment Terms of between 6191
and 90180
days;

 

(r)            which
is an eligible asset within the meaning of Rule 3a-7 promulgated under the Investment Company Act of 1940, as amended from time to
time;

 

(s)            which
is not of a type that has been disqualified by S&P or Moody’s for any other reason;

 

(t)            which
is not payable in installments (except for Receivables related to opening orders);

 

 (u)             which is not evidenced by a promissory note;

 

(v)            which
has terms which have not been modified, impaired, waived, altered, extended or renegotiated since the initial sale or provision of service
to an Obligor in any way not provided for in this Agreement; and

 

(w)            for
which the related invoice with respect to such Receivable does not include any Excluded Receivable.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any rule or regulation
issued thereunder.

 

“ERISA
Affiliate” means any trade or business (whether or not incorporated) under common control with Performance Guarantor
or ABDC within the meaning of Section 414(b) or

 

(c) of the Internal Revenue Code (and Sections 414(m) and
(o) of the Internal Revenue Code for purposes of provisions relating to Section 412 of the Internal Revenue Code).

 

“ERISA
Event” means (a) any Reportable Event with respect to a Pension Plan (other than an event for which the 30 day
notice period is waived); (b) a failure by any Pension Plan to satisfy the minimum funding standards (as defined in Section 412
of the Code or Section 302 of ERISA) applicable to such Pension Plan, in each instance, whether or not waived; (c) the filing
pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding
standard with respect to any Pension Plan; (d) a determination that any

 

    21

     

    

 

“Responsible
Officer” shall mean, with respect to the Seller, the Servicer, any Originator or the Performance Guarantor, the chief
executive officer, president, principal financial officer or treasurer of such Person and any other Person identified on the List of Responsible
Officers attached as Exhibit X hereto (as such list may be amended and supplemented from time to time) and agreed to by the
Administrator.

 

“Restricted
Junior Payment” means (i) any dividend or other distribution, direct or indirect, on account of any shares of
any class of capital stock of Seller now or hereafter outstanding, except a dividend payable solely in shares of that class of stock or
in any junior class of stock of Seller, (ii) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition
for value, direct or indirect, of any shares of any class of capital stock of Seller now or hereafter outstanding, (iii) any payment
or prepayment of principal of, premium, if any, or interest, fees or other charges on or with respect to, and any redemption, purchase,
retirement, defeasance, sinking fund or similar payment and any claim for rescission with respect to the Subordinated Loans (as defined
in the Receivables Sale Agreement), (iv) any payment made to redeem, purchase, repurchase or retire, or to obtain the surrender of,
any outstanding warrants, options or other rights to acquire shares of any class of capital stock of Seller now or hereafter outstanding,
and (v) any payment of management fees by Seller (except for reasonable management fees to any Originator or its Affiliates in reimbursement
of actual management services performed).

 

“S&P”
means Standard and Poor’s Ratings Services, a division of The McGraw Hill Companies, Inc.

 

“Sanctioned Country”
means, at any time, a country, territory or region that is itself the subject or target of any comprehensive Sanctions.

 

“Sanctioned Person” means
(a) any Person listed in any Sanctions-related list of specially designated foreign nationals or other Persons maintained (i) by
the Office of Foreign Assets Control of the US Department of Treasury, the US State Department or the US Department of Commerce or (ii) by
the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom, (b) any Person located,
organized or ordinarily resident in a Sanctioned Country or (c) any Person 50% or more owned by one or more Persons referenced in
clause (a).

 

“Sanctions” means economic
or financial sanctions or trade embargoes imposed, administered or enforced from time to time (a) by the US government, including
those administered by the Office of Foreign Assets Control of the US Department of Treasury, the US State Department or the US Department
of Commerce or (b) by the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom.

 

“Scheduled
Facility Termination Date” means, for any Group Commitment, September 16, 2022November 4,
2024 or with respect to any Purchaser Group party to an Assumption Agreement or Transfer Supplement, such other date, if any,
set forth in the applicable Assumption Agreement or Transfer Supplement.

 

“Secured
Parties” means the Indemnified Parties.

 

    22Exhibit
4.1

 

WARRANT
AGREEMENT

 

This
agreement is made as of November 3, 2021 between Sizzle Acquisition Corp., a Delaware corporation, with offices at 4201 Georgia
Avenue NW, Washington DC, 20011 (“Company”), and Continental Stock Transfer & Trust Company, a New York limited
purpose trust company, with offices at 1 State Street, New York, New York 10004 (“Warrant Agent”).

 

WHEREAS,
the Company is engaged in a public offering (“Public Offering”) of up to 15,525,000 units, each unit (“Unit”)
comprised of one share of common stock of the Company, par value $0.0001 per share (“Common Stock”), and one-half
of one warrant, where each whole warrant entitles the holder to purchase one share of Common Stock at a price of $11.50 per share, subject
to adjustment as described herein, and, in connection therewith, will issue and deliver up to 7,762,500 warrants (the “Public
Warrants”) to the public investors in connection with the Public Offering;

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “SEC”) Registration Statements on Form S-1,
Nos. 333-254182 and 333-260752 (“Registration Statement”), for the registration, under the Securities Act of
1933, as amended (“Act”) of, among other securities, the Public Warrants;

 

WHEREAS,
following consummation of the Public Offering, the Company may issue additional warrants (“Post-IPO Warrants” and
together with the Public Warrants, the “Warrants”) in connection with, or following the consummation by the Company
of, a Business Combination (defined below);

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with
the issuance, registration, transfer, exchange, redemption, and exercise of the Warrants;

 

WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised,
and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and
countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding, and legal obligations of the Company, and
to authorize the execution and delivery of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant
Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

2. Warrants.

 

2.1. Form
of Warrant. Each Warrant shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto,
the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board
of Directors or Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear a facsimile of
the Company’s seal. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve
in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he
or she had not ceased to be such at the date of issuance.

 

     

    

    

 

2.2. Uncertificated
Warrants. Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part of, and be represented
by, a Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or the facilities of The
Depository Trust Company (the “Depositary”) or other book-entry depositary system, in each case as determined by the
Board of Directors of the Company or by an authorized committee thereof. Any Warrant so issued shall have the same terms, force and effect
as a certificated Warrant that has been duly countersigned by the Warrant Agent in accordance with the terms of this Agreement.

 

2.3. Effect
of Countersignature. Except with respect to uncertificated Warrants as described above, unless and until countersigned by the Warrant
Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.4. Registration.

 

2.4.1. Warrant
Register. The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original issuance
and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register
the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered
to the Warrant Agent by the Company.

 

2.4.2. Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat
the person in whose name such Warrant is then registered in the Warrant Register (“registered holder”) as the absolute
owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on the Warrant
certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes,
and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.5. Detachability
of Warrants. The securities comprising the Units will not be separately transferable until the 90th day following
the date of the prospectus or, if such 90th day is not on a day, other than Saturday, Sunday or federal holiday, on which
banks in New York City are generally open for normal business (a “Business Day”), then on the immediately succeeding
Business Day following such date, or earlier with the consent of Cantor Fitzgerald & Co. (the “Representative”),
but in no event will the Representative allow separate trading of the securities comprising the Units until (i) the Company has
filed a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross
proceeds of the Public Offering including the proceeds received by the Company from the exercise of the underwriters’ over-allotment
option in the Public Offering, if the over-allotment option is exercised prior to the filing of the Form 8-K, and (ii) the
Company has issued a press release and has filed a Current Report on Form 8-K announcing when such separate trading shall begin
(the “Detachment Date”).

 

2.6. Post-IPO
Warrants. The Post-IPO Warrants, when and if issued, shall have the same terms and be in the same form as the Public Warrants except
as may be agreed upon by the Company.

 

3. Terms
and Exercise of Warrants

 

3.1. Warrant
Price. Each Warrant shall, when countersigned by the Warrant Agent (except with respect to uncertificated Warrants), entitle the
registered holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the number of
shares of Common Stock stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section 4 hereof
and in the last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement refers to the price
per share at which the shares of Common Stock may be purchased at the time a Warrant is exercised. The Company in its sole discretion
may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business
Days; provided, that the Company shall provide at least twenty (20) days’ prior written notice of such reduction to registered
holders of the Warrants and, provided further that any such reduction shall be applied consistently to all of the Warrants.

 

    2

    

    

 

3.2. Duration
of Warrants. A Warrant may be exercised only during the period commencing on 30 days after the consummation by the Company of a merger,
share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or
more businesses or entities (“Business Combination”) (as described more fully in the Registration Statement), and
terminating at 5:00 p.m., New York City time on the earlier to occur of (i) five years from the consummation of a Business Combination,
(ii) the Redemption Date as provided in Section 6.2 of this Agreement and (iii) the liquidation of the Company (“Expiration
Date”). The period of time from the date the Warrants will first become exercisable until the expiration of the Warrants shall
hereafter be referred to as the “Exercise Period.” Except with respect to the right to receive the Redemption Price (as set
forth in Section 6 hereunder), as applicable, each Warrant not exercised on or before the Expiration Date shall become void, and
all rights thereunder and all rights in respect thereof under this Agreement shall cease at the close of business on the Expiration Date.
The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided, however, that the
Company will provide at least twenty (20) days’ prior written notice of any such extension to registered holders and, provided
further that any such extension shall be applied consistently to all of the Warrants.

 

3.3. Exercise
of Warrants.

 

3.3.1. Payment.
Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent, may be exercised by
the registered holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor as Warrant Agent,
in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant, duly executed, and
by paying in full the Warrant Price for each share of Common Stock as to which the Warrant is exercised and any and all applicable taxes
due in connection with the exercise of the Warrant, as follows:

 

(a)
by good certified check or good bank draft payable to the order of the Warrant Agent or wire transfer; or

 

(b)
in the event of redemption pursuant to Section 6 hereof in which the Company’s management has elected to force all holders
of Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number of shares of Common
Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants,
multiplied by the difference between the Warrant Price and the “Fair Market Value” (defined below) by (y) the Fair Market
Value. Solely for purposes of this Section 3.3.1(b), the “Fair Market Value” shall mean the average last reported sale
price of the Common Stock for the five (5) trading days ending on the third trading day prior to the date on which the notice of
redemption is sent to holders of the Warrants pursuant to Section 6 hereof; or

 

(c)
[Intentionally omitted]; or

 

(d)
in the event the registration statement required by Section 7.4 hereof is not effective and current within ninety (90) days
after the closing of a Business Combination, by surrendering such Warrants for that number of shares of Common Stock equal to the quotient
obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference
between the exercise price of the Warrants and the “Fair Market Value” by (y) the Fair Market Value; provided, however,
that no cashless exercise shall be permitted unless the Fair Market Value is equal to or higher than the exercise price. Solely for purposes
of this Section 3.3.1(d), the “Fair Market Value” shall mean the average reported last sale price of the Common Stock
for the five (5) trading days ending on the trading day prior to the date of exercise.

 

3.3.2. Issuance
of Shares of Common Stock. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of
the Warrant Price (if any), the Company shall issue to the registered holder of such Warrant a certificate or certificates, or book entry
position, for the number of shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed
by him, her or it, and if such Warrant shall not have been exercised in full, a new countersigned Warrant, or book entry position, for
the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, in no event will the Company
be required to net cash settle the Warrant exercise. No Warrant shall be exercisable for cash and the Company shall not be obligated
to issue shares of Common Stock upon exercise of a Warrant unless the Common Stock issuable upon such Warrant exercise has been registered,
qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the Warrants. In the
event that the condition in the immediately preceding sentence is not satisfied with respect to a Warrant, the holder of such Warrant
shall not be entitled to exercise such Warrant for cash and such Warrant may have no value and expire worthless, in which case the purchaser
of a Unit containing such Public Warrants shall have paid the full purchase price for the Unit solely for the shares of Common Stock
underlying such Unit. Warrants may not be exercised by, or securities issued to, any registered holder in any state in which such exercise
would be unlawful.

 

    3

    

    

 

3.3.3. Valid
Issuance. All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly
issued, fully paid and nonassessable.

 

3.3.4. Date
of Issuance. Each person in whose name any book entry position or certificate for shares of Common Stock is issued shall for all
purposes be deemed to have become the holder of record of such shares on the date on which the Warrant, or book entry position representing
such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate, except
that, if the date of such surrender and payment is a date when the share transfer books of the Company or book entry system of the Warrant
Agent are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding
date on which the share transfer books or book entry system are open.

 

3.3.5 Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained
in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election.
If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall
not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such
person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8% (the “Maximum
Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the
foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such person and its affiliates shall include
the number of shares of Common Stock issuable upon exercise of the Warrant with respect to which the determination of such sentence is
being made, but shall exclude shares of Common Stock that would be issuable upon (x) exercise of the remaining, unexercised portion
of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted
portion of any other securities of the Company beneficially owned by such person and its affiliates (including, without limitation, any
convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation
contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated
in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For
purposes of the Warrant, in determining the number of outstanding shares of Common Stock, the holder may rely on the number of outstanding
shares of Common Stock as reflected in (1) the Company’s most recent annual report on Form 10-K, quarterly report
on Form 10-Q, current report on Form 8-K or other public filing with the SEC as the case may be, (2) a more
recent public announcement by the Company or (3) any other notice by the Company or the Warrant Agent setting forth the number of
shares of Common Stock outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the Company shall,
within two (2) Business Days, confirm orally and in writing to such holder the number of shares of Common Stock then outstanding.
In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of
equity securities of the Company by the holder and its affiliates since the date as of which such number of outstanding shares of Common
Stock was reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum
Percentage applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall
not be effective until the sixty-first (61st) day after such notice is delivered to the Company.

 

4. Adjustments.

 

4.1. Stock
Dividends; Split Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding
shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split up of shares of Common Stock,
or other similar event, then, on the effective date of such stock dividend, split up or similar event, the number of shares of Common
Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in outstanding shares of Common Stock.

 

4.2. Aggregation
of Shares. If after the date hereof, the number of outstanding shares of Common Stock is decreased by a consolidation, combination,
reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation,
combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each
Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock.

 

    4

    

    

 

4.3 Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution
in cash, securities or other assets to the holders of the shares of Common Stock or other shares of the Company’s capital stock
into which the Warrants are convertible (an “Extraordinary Dividend”), then the Warrant Price shall be decreased,
effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market value (as determined
by the Company’s Board of Directors, in good faith) of any securities or other assets paid in respect of such Extraordinary Dividend
divided by all outstanding shares of the Company at such time (whether or not any shareholders waived their right to receive such dividend);
provided, however, that none of the following shall be deemed an Extraordinary Dividend for purposes of this provision: (a) any
adjustment described in subsection 4.1 above, (b) any cash dividends or cash distributions which, when combined on a per share basis
with all other cash dividends and cash distributions paid on the Common Stock during the 365-day period ending on the date
of declaration of such dividend or distribution does not exceed $0.50 per share (taking into account all of the outstanding shares of
the Company at such time (whether or not any shareholders waived their right to receive such dividend) and as adjusted to appropriately
reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions
that resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable on exercise of each Warrant)
but only with respect to the amount of the aggregate cash dividends or cash distributions equal to or less than $0.50, (c) any payment
to satisfy the redemption rights of the holders of the shares of Common Stock in connection with a proposed initial Business Combination
or certain amendments to the Company’s Amended and Restated Certificate of Incorporation (as described in the Registration Statement)
or (d) any payment in connection with the Company’s liquidation and the distribution of its assets upon its failure to consummate
a Business Combination. Solely for purposes of illustration, if the Company, at a time while the Warrants are outstanding and unexpired,
pays a cash dividend of $0.35 and previously paid an aggregate of $0.40 of cash dividends and cash distributions on the Common Stock
during the 365-day period ending on the date of declaration of such $0.35 dividend, then the Warrant Price will be decreased,
effectively immediately after the effective date of such $0.35 dividend, by $0.25 (the absolute value of the difference between $0.75
(the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period, including such $0.35
dividend) and $0.50 (the greater of (x) $0.50 and (y) the aggregate amount of all cash dividends and cash distributions paid or
made in such 365-day period prior to such $0.35 dividend)). Furthermore, solely for the purposes of illustration, if following
the closing of the Company’s initial Business Combination, there were total shares outstanding of 100,000,000 and the Company paid
a $1.00 dividend to 17,500,000 of such shares (with the remaining 82,500,000 shares waiving their right to receive such dividend), then
no adjustment to the Warrant Price would occur as a $17.5 million dividend payment divided by 100,000,000 shares equals $0.175 per share
which is less than $0.50 per share.

 

4.4 Adjustments
in Exercise Price. Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided
in Sections 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately
prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon
the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares
of Common Stock so purchasable immediately thereafter.

 

4.5. Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common Stock
(other than a change covered by Section 4.1, 4.2 or 4.3 hereof or that solely affects the par value of the Common Stock), or in
the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger in which
the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding Common
Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an
entirety or substantially as an entirety in connection with which the Company is dissolved, the Warrant holders shall thereafter have
the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the shares
of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby,
the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization,
merger or consolidation, or upon a dissolution following any such sale or transfer, that the Warrant holder would have received if such
Warrant holder had exercised his, her or its Warrant(s) immediately prior to such event. If any reclassification also results in a change
in the Common Stock covered by Section 4.1, 4.2 or 4.3, then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3, 4.4
and this Section 4.5. The provisions of this Section 4.5 shall similarly apply to successive reclassifications, reorganizations,
mergers or consolidations, sales or other transfers. In no event will the Warrant Price be reduced to less than the par value per share
issuable upon exercise of the Warrant.

 

    5

    

    

 

4.6. Issuance
in connection with a Business Combination. If, in connection with a Business Combination, the Company (a) issues additional shares
of Common Stock or equity-linked securities at an issue price or effective issue price of less than $9.20 per share (with such issue
price or effective issue price as determined by the Company’s Board of Directors, in good faith, and in the case of any such issuance
to the Sponsor, the initial stockholders, or their affiliates, without taking into account any founders’ shares held by them prior
to such issuance), (b) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest
thereon, available for the funding of the Business Combination on the date of the consummation of such Business Combination (net of redemptions),
and (c) the Fair Market Value (as defined below) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the
nearest cent) to be equal to 115% of the greater of (i) the Fair Market Value or (ii) the price at which the Company issues the Common
Stock or equity-linked securities. Solely for purposes of this Section 4.6, the “Fair Market Value” shall mean the
volume weighted average reported trading price of the Common Stock for the twenty (20) trading days starting on the trading day prior
to the date of the consummation of the Business Combination.

 

4.7 Notices
of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant, the
Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment
and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a Warrant, setting forth
in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified
in Sections 4.1, 4.2, 4.3, 4.4, 4.5, or 4.6, then, in any such event, the Company shall give written notice to each Warrant holder, at
the last address set forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to
give such notice, or any defect therein, shall not affect the legality or validity of such event.

 

4.8. No
Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue fractional
shares of Common Stock upon an exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder
of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall,
upon such exercise, round down to the nearest whole number of the number of shares of Common Stock to be issued to such holder.

 

4.9. Form
of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued
after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant
to this Agreement. However, the Company may at any time in its sole discretion make any change in the form of Warrant that the Company
may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange
or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

4.10 Other
Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections of this Section 4
are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact
on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint
a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which shall give
its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose
of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment. The Company shall adjust
the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

 

5. Transfer
and Exchange of Warrants.

 

5.1. Registration
of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant Register,
upon surrender of such Warrant for transfer, properly endorsed with signatures, in the case of certificated Warrants, properly guaranteed
and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number
of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the Warrants
so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

    6

    

    

 

5.2. Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, either in certificated form or in book entry position,
together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more
new Warrants, or book entry positions, as requested by the registered holder of the Warrants so surrendered, representing an equal aggregate
number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant
Agent shall not cancel such Warrant and issue new Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel
for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

 

5.3. Fractional
Warrants. The Company shall not issue fractional Warrants other than as part of the Units. If upon the detachment of Public Warrants
from the Units or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, The Company shall round down to
the nearest whole number of Warrants to be issued to such holder. The Warrant Agent shall not be required to effect any registration
of transfer or exchange which will result in the issuance of a Warrant certificate or book-entry position for a fraction of a Warrant,
except as part of the Units.

 

5.4. Service
Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5. Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms
of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required
by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

5.6. [Internally
omitted].

  

5.7. Transfers
prior to Detachment. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit
in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit.
Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such
Unit. Notwithstanding the foregoing, the provisions of this Section 5.7 shall have no effect on any transfer of Warrants on or after
the Detachment Date.

 

6. Redemption.

 

6.1. Redemption.
Not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period,
at the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of $0.01 per Warrant (“Redemption
Price”), provided that the last sales price of the Common Stock equals or exceeds $18.00 per share (subject to adjustment in
accordance with Section 4 hereof), on each of twenty (20) trading days within any thirty (30) trading day period commencing
after the Warrants become exercisable and ending on the third trading day prior to the date on which notice of redemption is given and
provided that there is an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants,
and a current prospectus relating thereto, available throughout the 30-day redemption or the Company has elected to require
the exercise of the Warrants on a “cashless basis” pursuant to subsection 3.3.1(b); provided, however, that if and when the
Public Warrants become redeemable by the Company, the Company may not exercise such redemption right if the issuance of shares of Common
Stock upon exercise of the Public Warrants is not exempt from registration or qualification under applicable state blue sky laws or the
Company is unable to effect such registration or qualification.

 

6.2. Date
Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants that are subject to redemption,
the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first
class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date to the registered holders
of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner
herein provided shall be conclusively presumed to have been duly given whether or not the registered holder received such notice.

 

    7

    

    

 

6.3. Exercise
After Notice of Redemption. The Public Warrants may be exercised, for cash (or on a “cashless basis” in accordance with
Section 3 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2
hereof and prior to the Redemption Date. In the event the Company determines to require all holders of Public Warrants to exercise their
Warrants on a “cashless basis” pursuant to Section 3.3.1(b), the notice of redemption will contain the information necessary
to calculate the number of shares of Common Stock to be received upon exercise of the Warrants, including the “Fair Market Value”
in such case. On and after the Redemption Date, the record holder of the Warrants shall have no further rights except to receive, upon
surrender of the Warrants, the Redemption Price.

 

7. Other
Provisions Relating to Rights of Holders of Warrants.

 

7.1. No
Rights as Stockholder. A Warrant does not entitle the registered holder thereof to any of the rights of a stockholder of the Company,
including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent
or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors of the Company or any other
matter.

 

7.2. Lost,
Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent
may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant,
include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated,
or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3. Reservation
of Shares of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares
of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

7.4. Registration
of Shares of Common Stock. The Company agrees that as soon as practicable after the closing of its initial Business Combination,
it shall use its best efforts to file with the Securities and Exchange Commission a registration statement for the registration, under
the Act, of the shares of Common Stock issuable upon exercise of the Warrants, and it shall use its best efforts to take such action
as is necessary to register or qualify for sale, in those states in which the Warrants were initially offered by the Company and in those
states where holders of Warrants then reside, the shares of Common Stock issuable upon exercise of the Warrants, to the extent an exemption
is not available. The Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such
registration statement until the expiration of the Warrants in accordance with the provisions of this Agreement. If any such registration
statement has not been declared effective by the 90th day following the closing of the Business Combination, holders of the Warrants
shall have the right, during the period beginning on the 91st day after the closing of the Business Combination and ending upon such
registration statement being declared effective by the Securities and Exchange Commission, and during any other period when the Company
shall fail to have maintained an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants,
to exercise such Warrants on a “cashless basis” as determined in accordance with Section 3.3.1(d). The Company shall
provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities law experience)
stating that (i) the exercise of the Warrants on a cashless basis in accordance with this Section 7.4 is not required to be
registered under the Act and (ii) the shares of Common Stock issued upon such exercise will be freely tradable under U.S. federal
securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of the Company and, accordingly,
will not be required to bear a restrictive legend. For the avoidance of any doubt, unless and until all of the Warrants have been exercised
on a cashless basis, the Company shall continue to be obligated to comply with its registration obligations under the first three sentences
of this Section 7.4. The provisions of this Section 7.4 may not be modified, amended, or deleted without the prior written consent of
the Representative.

 

8. Concerning
the Warrant Agent and Other Matters.

 

8.1. Payment
of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant
Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the Company shall not be obligated
to pay any transfer taxes in respect of the Warrants or such shares.

 

    8

    

    

 

8.2. Resignation,
Consolidation, or Merger of Warrant Agent.

 

8.2.1. Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office
of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor
Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days
after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant (who shall,
with such notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of
the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor
Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the
State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized
under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment,
any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor
Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason
it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument
transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon
request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for
more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities,
duties, and obligations.

 

8.2.2. Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the
predecessor Warrant Agent and the transfer agent for the shares of Common Stock not later than the effective date of any such appointment.

 

8.2.3. Merger
or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant
Agent under this Agreement without any further act.

 

8.3. Fees
and Expenses of Warrant Agent.

 

8.3.1. Remuneration.
The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and will reimburse
the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

8.3.2. Further
Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and
delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying
out or performing of the provisions of this Agreement.

 

8.4. Liability
of Warrant Agent.

 

8.4.1. Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary or
desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact
or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established
by a statement signed by the Chief Executive Officer or Chairman of the Board of Directors of the Company and delivered to the Warrant
Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions
of this Agreement.

 

8.4.2. Indemnity.
The Warrant Agent shall be liable hereunder only for its own fraud, gross negligence, willful misconduct or bad faith. The Company agrees
to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel
fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except as a result of the Warrant Agent’s
fraud, gross negligence, willful misconduct, or bad faith.

 

    9

    

    

 

8.4.3. Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution
of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition
contained in this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required under the provisions of Section 4
hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would
require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization
or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant or as to whether any shares of Common
Stock will, when issued, be valid and fully paid and nonassessable.

 

8.5. Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms
and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and
concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of shares of Common Stock
through the exercise of Warrants.

 

9. Miscellaneous
Provisions.

 

9.1. Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to
the benefit of their respective successors and assigns.

 

9.2. Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant
to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private
courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in
writing by the Company with the Warrant Agent), as follows:

 

Sizzle
Acquisition Corp.

4201
Georgia Avenue NW

Washington
DC, 20011

Attn:
Steve Salis

Email:
ssalis@salisholdings.com

Fax:

 

Any
notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on
the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private
courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing
by the Warrant Agent with the Company), as follows:

 

Continental
Stock Transfer & Trust Company

1
State Street

New
York, New York 10004

Attn:
Compliance Department

Email:

 

with
a copy in each case to:

 

Graubard
Miller

The
Chrysler Building

405
Lexington Avenue

New
York, New York 10174

Attn:
David Alan Miller, Esq.

Email:
DMiller@graubard.com

 

and

 

Ellenoff
Grossman & Schole LLP

1345
Avenue of the Americas

New
York, NY 10105

Attn:
Stuart Neuhauser, Esq.

Email:
sneuhauser@egsllp.com

 

and

Cantor
Fitzgerald & Co.

499
Park Avenue

New
York, New York 10022

Attn:
General Counsel

Facsimile:
(212) 829-4708

Email:

 

    10

    

    

 

9.3. Applicable
Law; Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all
respects by 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 Company hereby agrees that any action, proceeding or claim against it arising out
of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States
District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be the exclusive
forum for any such action, proceeding or claim. The Company hereby waives any objection to such exclusive jurisdiction and that such
courts represent an inconvenient forum. Any such process or summons to be served upon the Company may be served by transmitting a copy
thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section
9.2 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or
claim. Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any liability or duty
created by the Exchange Act or any other claim for which the federal district courts of the United States of America are the sole and
exclusive forum. Any person or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of
and to have consented to the forum provisions in this Section 9.3. If any action, the subject matter of which is within the scope the
forum provisions above, is filed in a court other than a court located within the State of New York or the United States District Court
for the Southern District of New York (a “Foreign Action”) in the name of any warrant holder, such warrant holder
shall be deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located within the State of New York
or the United States District Court for the Southern District of New York in connection with any action brought in any such court to
enforce the forum provisions (an “Enforcement Action”), and (y) having service of process made upon such warrant holder
in any Enforcement Action by service upon such warrant holder’s counsel in the Foreign Action as agent for such warrant holder.

 

9.4. Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the
registered holders of the Warrants and, for the purposes of Sections 7.4, 9.4 and 9.8 hereof, the Representative, any right, remedy,
or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. The Representative
shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 7.4, 9.4 and 9.8 hereof. All covenants, conditions,
stipulations, promises, and agreements contained in this Warrant Agreement shall be for the sole and exclusive benefit of the parties
hereto (and the Representative with respect to the Sections 7.4, 9.4 and 9.8 hereof) and their successors and assigns and of the registered
holders of the Warrants. 

 

9.5. Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent
in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant Agent may
require any such holder to submit his Warrant for inspection by it.

 

9.6. Counterparts.
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.

 

    11

    

    

 

9.7. Effect
of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation
thereof.

 

9.8 Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder (i) for the purpose of curing any
ambiguity, or of curing, correcting or supplementing any defective provision contained herein, (ii) to make any amendments that are necessary
in the good faith determination of the Company’s board of directors (taking into account then existing market precedents) to allow
for the Warrants to be classified as equity in the Company’s financial statements or (iii) adding or changing any other provisions
with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties
deem shall not adversely affect the interest of the registered holders. All other modifications or amendments, including any amendment
to increase the Warrant Price or shorten the Exercise Period, shall require the written consent or vote of the registered holders of
(i) a majority of the then outstanding Public Warrants if such modification or amendment is being undertaken prior to, or in connection
with, the consummation of a Business Combination, or (ii) a majority of the then outstanding Warrants if such modification or amendment
is being undertaken after the consummation of a Business Combination. Notwithstanding the foregoing, the Company may lower the Warrant
Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the registered
holders. The provisions of this Section 9.8 may not be modified, amended or deleted without the prior written consent of Representative.

 

9.9 Trust
Account Waiver. The Warrant Agent acknowledges and agrees that it shall not make any claims or proceed against the trust account
established by the Company in connection with the Public Offering (as more fully described in the Registration Statement) (“Trust
Account”), including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance.
In the event that the Warrant Agent has a claim against the Company under this Agreement, the Warrant Agent will pursue such claim solely
against the Company and not against the property held in the Trust Account.

 

9.10 Severability.
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.

 

[signature
page follows]

 

    12

    

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	 	SIZZLE  ACQUISITION CORP. 
	 	 
	 	By:	/s/
Steve Salis
	 	 	Name:	Steve Salis
	 	 	Title: 	Chief Executive
    Officer and Chairman
	 	 
	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY
	 	 
	 	By:  	/s/
    Erika Young
	 	 	Name:	Erika
Young
	 	 	Title:	Vice
President

 

[Signature
Page to Warrant Agreement]

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