Document:

Exhibit 10.2

  bleuacacia ltd

  500 Fifth Avenue

  New York, New York 10110

    

  

  	
          Re:

        	
          Initial Public Offering

        

   

  Ladies and Gentlemen:

   

  This letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting

          Agreement”) entered into or proposed to be entered into by and between bleuacacia ltd, a Cayman Islands exempted company (the “Company”), and Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc.,
    as the representatives of the several underwriters named therein (the “Underwriters”), relating to an underwritten initial public offering (the “Public Offering”), of 34,500,000 of the Company’s units
    (including up to 4,500,000 units that may be purchased to cover over-allotments, if any) (the “Units”), each comprised of one Class A ordinary share of the Company, par value $0.0001 per share (each, an “Ordinary Share”),

    and one-third of one redeemable warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment. The Units shall be sold in
    the Public Offering pursuant to a registration statement on Form S-1 and a prospectus (the “Prospectus”) filed by the Company with the Securities and Exchange Commission (the “Commission”). Certain capitalized
    terms used herein are defined in paragraph 11 hereof.

    

  

  In order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other
    good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, bleuacacia sponsor LLC, a Cayman Islands limited liability company (the “Sponsor”), and the other undersigned persons (each, an “Insider”
    and collectively, the “Insiders”), hereby agrees with the Company as follows:

   

  1. The Sponsor and each Insider agrees with the Company that if the Company seeks shareholder approval of a proposed Business Combination, then in
    connection with such proposed Business Combination, it, he or she shall (i) vote any Shares owned by it, him or her in favor of any proposed Business Combination (including any proposals recommended by the Company’s Board of Directors in connection
    with such Business Combination) and (ii) not redeem any Shares owned by it, him or her in connection with such shareholder approval or sell or tender any Shares if the Company seeks to consummate a Business Combination by engaging in a tender offer.

   

  2. The Sponsor and each Insider hereby agrees with the Company that in the event that the Company fails to consummate a Business Combination
    within 24 months from the closing of the Public Offering, or such later period approved by the Company’s shareholders in accordance with the Company’s amended and restated memorandum and articles of association, as they may be amended from time to
    time, the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten (10) business days thereafter,
    redeem 100% of the Ordinary Shares sold as part of the Units in the Public Offering (the “Offering Shares”), at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
    interest (less up to $100,000 of interest to pay dissolution expenses and which interest shall be net of taxes payable), divided by the number of then issued and outstanding Offering Shares, which redemption will completely extinguish all Public
    Shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and
    the Company’s Board of Directors, liquidate and dissolve, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. The Sponsor and each Insider agrees to
    not propose any amendment to the Company’s amended and restated memorandum and articles of association (i) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s initial Business Combination
    or to redeem 100% of the Offering Shares if the Company does not complete its initial Business Combination within 24 months from the closing of the Public Offering, or (ii) with respect to any other provision relating to shareholders’ rights or
    pre-initial Business Combination activity, unless the Company provides its Public Shareholders with the opportunity to redeem their Offering Shares upon approval of any such amendment at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable), divided by the number of then issued and outstanding Offering Shares.

  
  
    

  

  
     

  

  
   

  The Sponsor and each Insider acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the
    Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares held by it, him or her. The Sponsor and each Insider hereby further waives, with respect to any Shares held by it, him or
    her, if any, any redemption rights it, he or she may have in connection with (x) the consummation of a Business Combination, including, without limitation, any such rights available in the context of a shareholder vote to approve such Business
    Combination or in the context of a tender offer made by the Company to purchase Ordinary Shares and (y) a shareholder vote to amend the Company’s amended and restated memorandum and articles of association (i) to modify the substance or timing of the
    Company’s obligation to allow redemption in connection with the Company’s initial Business Combination or to redeem 100% of the Offering Shares if the Company does not complete its initial Business Combination within 24 months from the closing of the
    Public Offering, or (ii) with respect to any other provision relating to shareholders’ rights or pre-initial Business Combination activity (although the Sponsor and the Insiders shall be entitled to redemption and liquidation rights with respect to any
    Offering Shares it or they hold if the Company fails to consummate a Business Combination within the time period set forth in the Company’s amended and restated memorandum and articles of association).

    

  

  3. Notwithstanding the provisions set forth in paragraphs 7(a) and (b) below, during the period commencing on the effective date of the
    Underwriting Agreement and ending 180 days after such date, the Sponsor and each Insider shall not, without the prior written consent of Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc., offer, sell, contract to sell, pledge or
    otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise)), directly or
    indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 (“Section 16”) of the Securities Exchange Act of 1934, as amended, and the rules
    and regulations of the Commission promulgated thereunder, with respect to, any Units, Shares, Warrants, Private Placement Warrants or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares, or publicly announce an
    intention to effect any such transaction; provided, however, that the foregoing does not apply to the forfeiture of any Founder Shares pursuant to their terms or any transfer of Founder Shares to any current or future independent
    director of the company (as long as such current or future independent director transferee is subject to this Letter Agreement or executes an agreement substantially identical to the terms of this Letter Agreement, as applicable to directors and
    officers at the time of such transfer; and as long as, to the extent any Section 16 reporting obligation is triggered as a result of such transfer, any related Section 16 filing includes a practical explanation as to the nature of the transfer). The
    provisions of this paragraph will not apply if the release or waiver is effected solely to permit a transfer not for consideration and the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent
    and for the duration that such terms remain in effect at the time of the transfer.

   

  4. In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other
    shareholders, members or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably
    incurred in investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become subject as a result of any claim by (i) any third party for services rendered (other than
    the Company’s independent registered public accountants) or products sold to the Company or (ii) a prospective target business with which the Company has discussed entering into a transaction agreement (a “Target”); provided,
    however, that such indemnification of the Company by the Sponsor shall apply only to the extent necessary to ensure that such claims by a third party for services rendered (other than the Company’s independent registered public accountants) or
    products sold to the Company or a Target do not reduce the amount of funds in the Trust Account to below (i) $10.00 per Offering Share or (ii) such lesser amount per Offering Share held in the Trust Account as of the date of the liquidation of the
    Trust Account due to reductions in the value of the trust assets, in each case, net of the amount of interest earned on the property in the Trust Account which may be withdrawn to pay taxes, except as to any claims by a third party who executed a
    waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended. In the event
    that any such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible to the extent of any liability for such third party claims. The Sponsor shall have the right to
      defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Sponsor, the Sponsor notifies the Company in writing that it shall undertake
      such defense.

  
  
    

  

  
     

  

  
   

  5. To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 4,500,000 Units within 45 days
    from the date of the Prospectus (and as further described in the Prospectus), the Initial Shareholders agree to forfeit, at no cost, a number of Founder Shares in the aggregate equal to 1,125,000 multiplied by a fraction, (i) the numerator of which is
    4,500,000 minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 4,500,000. All references (not including Ordinary Shares underlying the Private Placement Warrants)
    in this Letter Agreement to Founder Shares of the Company being forfeited shall take effect as surrenders for no consideration of such Founder Shares as a matter of Cayman Islands law. The forfeiture will be adjusted to the extent that the
    over-allotment option is not exercised in full by the Underwriters so that the number of Founder Shares will equal an aggregate of 20.0% of the Company’s issued and outstanding Shares after the Public Offering (not including Ordinary Shares underlying
    the Private Placement Warrants). The Initial Shareholders further agree that to the extent that the size of the Public Offering is increased or decreased, the Company will effect a capitalization or share repurchase or redemption, as applicable,
    immediately prior to the consummation of the Public Offering in such amount as to maintain the number of Founder Shares at 20.0% of the Company’s issued and outstanding Shares upon the consummation of the Public Offering. In connection with such
    increase or decrease in the size of the Public Offering, then (A) the references to 4,500,000 in the numerator and denominator of the formula in the first sentence of this paragraph shall be changed to a number equal to 15% of the number of Ordinary
    Shares included in the Units issued in the Public Offering and (B) the reference to 1,125,000 in the formula set forth in the immediately preceding sentence shall be adjusted to such number of Founder Shares that the Initial Shareholders would have to
    return to the Company in order for the number of Founder Shares to equal an aggregate of 20.0% of the Company’s issued and outstanding Shares after the Public Offering (not including the Ordinary Shares underlying the Warrants or Private Placement
    Warrants).

   

  6. The Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably injured in the
    event of a breach by such Sponsor or Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), 7(b), and 9 of this Letter Agreement, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching
    party shall be entitled to seek injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

   

  7. (a) The Sponsor and each Insider agrees that it, he or she shall not Transfer (as defined below) any Founder Shares (or Ordinary Shares
    issuable upon conversion thereof) until the earlier of (A) one year after the completion of the Company’s initial Business Combination and (B) subsequent to the Business Combination, (x) if the last reported sale price of the Ordinary Shares equals or
    exceeds $12.00 per share (as adjusted for share sub-divisions, share dividends, rights issuances, consolidations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days
    after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of the Company’s Public Shareholders having the right
    to exchange their Ordinary Shares for cash, securities or other property (the “Founder Shares Lock-up Period”).

   

  (b) The Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Placement Warrants (or Ordinary Shares issued or
    issuable upon the exercise or conversion of the Private Placement Warrants), until 30 days after the completion of a Business Combination (the “Private Placement Warrants Lock-up Period”, together with the Founder Shares Lock-up
    Period, the “Lock-up Periods”).

  
  
    

  

  
     

  

  
   

  (c) Notwithstanding the provisions set forth in paragraphs 7(a) and (b), transfers of the Founder Shares, Private Placement Warrants and Ordinary
    Shares issued or issuable upon the exercise or conversion of the Private Placement Warrants or the Founder Shares, are permitted (a) to the Company’s directors or officers, any affiliates or family members of the Company’s directors or officers, the
    Sponsor, any members of the Sponsor or any affiliates of the Sponsor; (b) in the case of an individual, by gift to a member of the individual’s immediate family, or to a trust, the beneficiary of which is a member of the individual’s immediate family
    or an affiliate of such person, or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to
      a qualified domestic relations order; (e) by private sales or transfers made in connection with the consummation of the Company’s Business Combination at prices no greater than the price at which the securities were originally purchased; (f) in the
      event of the Company’s liquidation prior to the Company’s completion of an initial Business Combination; (g) in the case of an entity, by virtue of the laws of its jurisdiction or its organizational documents or operating agreement; and (h) in the
      event of the Company’s completion of a liquidation, merger, share exchange, reorganization or other similar transaction which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or
      other property subsequent to the completion of the Company’s initial Business Combination; provided, however,
      that, in the case of clauses (a) through (e), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in this Agreement.

   

  8. The Sponsor and each Insider represents and warrants that it, he or she has never been suspended or expelled from membership in any securities
    or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s biographical information furnished to the Company, if any (including any such information included in the
    Prospectus), is true and accurate in all respects and does not omit any material information with respect to such Insider’s background. The Sponsor and each Insider’s questionnaire(s) furnished to the Company, if any, is true and accurate in all
    respects. The Sponsor and each Insider represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice
    relating to the offering of securities in any jurisdiction; it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person, or (iii)
    pertaining to any dealings in any securities; and it, he or she is not currently a defendant in any such criminal proceeding.

   

  9. Except as disclosed in, or as expressly contemplated by, the Prospectus, neither the Sponsor nor any Insider nor any affiliate of the Sponsor
    or any Insider, nor any director or officer of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other compensation prior to, or in connection with any services
    rendered in order to effectuate the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is).

   

  10. The Sponsor and each Insider has full right and power, without violating any agreement to which it is bound (including, without limitation,
    any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as an officer and/or a director on the board of directors of the Company and hereby consents to
    being named in the Prospectus as an officer and/or a director of the Company.

   

  11. As used herein, (i) “Business Combination” shall mean a merger, share exchange, asset acquisition, share purchase,
    reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Shares” shall mean, collectively, the Ordinary Shares and the Founder Shares; (iii) “Founder Shares” shall
    mean the 8,625,000 Class B Ordinary Shares, par value $0.0001 per share, issued and outstanding immediately prior to the consummation of the Public Offering; (iv) “Initial Shareholders” shall mean the Sponsor and any other person
    that holds Founder Shares; (v) “Private Placement Warrants” shall mean the warrants to purchase an aggregate of 8,333,333 Ordinary Shares of the Company (or up to 5,933,333 Ordinary Shares of the Company depending on the extent to
    which the Underwriters’ over-allotment option is exercised pursuant to the Underwriting Agreement) that the Sponsor has agreed to purchase for an aggregate purchase price of $8,000,000 (or up to $8,900,000 depending on the extent to which the
    Underwriters’ over-allotment option is exercised pursuant to the Underwriting Agreement), or $1.50 per Warrant, in a private placement that shall occur simultaneously with the consummation of the Public Offering; (vi) “Public Shareholders”
    shall mean the holders of securities issued in the Public Offering; (vii) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Warrants
    shall be deposited; and (viii) “Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly
    or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and
    regulations of the Commission thereunder, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by
    delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

  
   

   

  
  12. This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and
    supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may
    not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed by (1) each Insider that is the subject of any such change, amendment, modification or
    waiver and (2) the Sponsor.

   

  13. No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written
    consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on
    the Sponsor and each Insider and their respective successors, heirs and assigns and permitted transferees.

   

  14. This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York. The parties hereto
    (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such
    jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum.

   

  15. Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and
    shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or facsimile or other electronic transmission.

    

  

  16. Each party hereto shall not be liable for any breaches or misrepresentations contained in this Letter Agreement by any other party to this
    Letter Agreement (including, for the avoidance of doubt, any Insider with respect to any other Insider), and no party shall be liable or responsible for the obligations of another party, including, without limitation, indemnification obligations and
    notice obligations.

   

  17. This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods and (ii) the liquidation of the Company; provided,
    however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated and closed by December 31, 2021; provided further that paragraph 4 of this Letter Agreement shall survive such
    liquidation.

   

  18. This Letter 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.

   

  19. This Letter 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 Letter 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 Letter
    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]

  
   

   

  
  	
           

        	
          Sincerely,

        
	
           

        	
          BLEUACACIA SPONSOR LLC

        
	
           

        	
          By:

        	
           

        
	
           

        	
           

        	
          Name: Jide Zeitlin

        
	
           

        	
           

        	
          Title: Co-Chief Executive Officer

        

   

  	 	 
	 	Name: Jide Zeitlin
	 	Title: Co-Chairman and Co-Chief Executive Officer

          

   

  	
           

        	
           

        
	
           

        	
          Name: Lew Frankfort

        
	
           

        	
          Title: Co-Chairman and Co-Chief Executive Officer

        

   

  	
           

        	
           

        
	
           

        	
          Name: Charles McGuigan

        
	
           

        	
          Title: Chief Operating Officer, President and Director

          

        

   

  	
           

        	
           

        
	
           

        	
          Name: Thomas Northover

        
	
           

        	
          Title: Executive Director

          

        

   

  	
           

        	
           

        
	
           

        	
          Name: Natara Holloway

        
	
           

        	
          Title: Director

        

   

  	
           

        	
           

        
	
           

        	
          Name: Ibukun Awosika

        
	
           

        	
          Title: Director

        

   

  
   

   

  
  Acknowledged and Agreed:

  	
          BLEUACACIA LTD

        	
           

        
	
          By:

        	
           

        	
           

        
	
           

        	
          Name: Jide Zeitlin

        	
           

        
	
           

        	
          Title:   Co-Chief Executive Officer

        	
           

        

   

  	
          By:

        	
           

        	
           

        
	
           

        	
          Name: Lew Frankfort

        	
           

        
	
           

        	
          Title:   Co-Chief Executive Officer

        	
           

        

   

  [Signature Page to Letter Agreement]Exhibit 10.3

    

    

    INVESTMENT MANAGEMENT TRUST AGREEMENT

    

    

    This Investment Management Trust Agreement (this “Agreement”) is made effective as of [•], 2021, by and between bleuacacia ltd, a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company, a New York corporation (the “Trustee”).

    

    

    WHEREAS, the Company’s registration
      statement on Form S-1, File No. 333-[●] (the “Registration Statement”), and prospectus (the “Prospectus”) for the initial public offering of the Company’s units (the “Units”), each of which consists of one of the Company’s Class A ordinary shares, par value $0.0001 per share (each, an “Ordinary Share”), and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Ordinary Share (such initial public offering hereinafter referred to as the “Offering”), has been declared effective as of the date hereof by the U.S. Securities and Exchange Commission; and

    

    

    WHEREAS, the Company has entered
      into an Underwriting Agreement (the “Underwriting Agreement”) with Credit Suisse Securities (USA) LLC and Citigroup Global
      Markets Inc., as the underwriters (the “Underwriters”) named therein; and

    

    

    WHEREAS, as described in the
      Prospectus, $300,000,000 of the gross proceeds of the Offering and sale of the Private Placement Warrants (as defined in the Underwriting Agreement) (or $345,000,000 if the Underwriters’ over-allotment option is exercised in full) will be delivered
      to the Trustee to be deposited and held in a segregated trust account located at all times in the United States (the “Trust Account”)
      for the benefit of the Company and the holders of Ordinary Shares included in the Units issued in the Offering as hereinafter provided (the amount to be delivered to the Trustee (and any interest subsequently earned thereon) is referred to herein as
      the “Property,” the
      shareholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public Shareholders,” and the Public Shareholders and the Company will be referred to together as the “Beneficiaries”); and

    

    

    WHEREAS, pursuant to the
      Underwriting Agreement, a portion of the Property equal to $10,500,00, or $12,075,000 if the Underwriters’ over-allotment option is exercised in full, is attributable to deferred underwriting discounts and commissions that will be payable by the
      Company to the Underwriters upon and concurrently with the consummation of the Business Combination (as defined below) (the “Deferred
        Discount”); and

    

    

    WHEREAS, the Company and the Trustee
      desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.

    

    

    NOW THEREFORE, IT IS AGREED:

    

    

    1. Agreements and Covenants of Trustee. The
      Trustee hereby agrees and covenants to:

    

    

    (a) Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by the
      Trustee located in the United States at [●] (or at another U.S. chartered commercial bank with consolidated assets of $100 billion or more) and at a brokerage institution selected by the Trustee that is reasonably satisfactory to the Company;

    

    

    (b) Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein;

    

    

    (c) In a timely manner, upon the written instruction of the Company, invest and reinvest the Property solely in United States government
      securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7
      promulgated under the Investment Company Act of 1940, as amended, which invest only in direct U.S. government treasury obligations, as determined by the Company; it being understood that the Trust Account will earn no interest while account funds are
      uninvested awaiting the Company’s instructions hereunder; while on deposit, the Trustee may earn bank credits or other consideration;

    
      
        

    

    (d) Collect and receive, when due, all interest or other income arising from the Property, which shall become part of the “Property,” as
      such term is used herein;

    

    

    (e) Promptly notify the Company and Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. of all communications received by
      the Trustee with respect to any Property requiring action by the Company;

    

    

    (f) Supply any necessary information or documents as may be requested by the Company (or its authorized agents) in connection with the
      Company’s preparation of tax returns relating to assets held in the Trust Account or in connection with the preparation or completion of the audit of the Company’s financial statements by the Company’s auditors;

    

    

    (g) Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when
      instructed by the Company to do so;

    

    

    (h) Render to the Company monthly written statements of the activities of, and amounts in, the Trust Account reflecting all receipts and
      disbursements of the Trust Account;

    

    

    (i) Commence liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a
      letter from the Company (“Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit A or
      Exhibit B signed on behalf of a Co-Chief Executive Officer, President, Chief Financial Officer, Chief Operating Officer, General Counsel, Executive Director, Secretary or Co-Chairman of the board of directors of the Company (the “Board”) or other authorized officer of the Company, and, in the case of Exhibit A, acknowledged and agreed to by the Underwriters,
      complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses and which interest shall be net of any
      taxes payable, it being understood that the Trustee has no obligation to monitor or question the Company’s position that an allocation has been made for taxes payable), only as directed in the Termination Letter and the other documents referred to
      therein or (y) upon the date which is twenty-four (24) months after the closing of the Offering, or such later date as may be approved by the Company’s shareholders in accordance with the Company’s amended and restated memorandum and articles of
      association, as it may be amended from time to time, if a Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set forth in the Termination
      Letter attached as Exhibit B and the Property in the Trust Account, including interest (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses and which interest shall be net of any taxes payable), shall be
      distributed to the Public Shareholders of record as of such date;

    

    

    (j) Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as
      Exhibit C (a “Tax Payment Withdrawal Instruction”), withdraw from the Trust Account and distribute to the Company the amount of
      interest earned on the Property requested by the Company to cover any tax obligation owed by the Company as a result of assets of the Company or interest or other income earned on the Property, which amount shall be delivered directly to the Company
      by electronic funds transfer or other method of prompt payment, and the Company shall forward such payment to the relevant taxing authority; provided, however, that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such assets held in the Trust
      Account as shall be designated by the Company in writing to make such distribution so long as there is no reduction in the principal amount per share initially deposited in the Trust Account; provided, further, however,
      that if the tax to be paid is a franchise tax, the written request by the Company to make such distribution shall be accompanied by a copy of the franchise tax bill for the Company (it being acknowledged and agreed that any such amount in excess of
      interest income earned on the Property shall not be payable from the Trust Account). The written request of the Company referenced above shall constitute presumptive evidence that the Company is entitled to said funds, and the Trustee shall have no
      responsibility to look beyond said request;

    
      
        

    

    (k) Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as
      Exhibit D (a “Shareholder Redemption Withdrawal Instruction”), the Trustee shall distribute on behalf of the Company the amount
      requested by the Company to be used to redeem Ordinary Shares from Public Shareholders properly submitted in connection with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association (A)
      to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s initial merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company
      and one or more businesses (a “Business Combination”) or to redeem 100% of the Ordinary Shares included in the Units sold in
      the Offering if it does not complete its initial Business Combination within twenty-four (24) months from the closing of the Offering or (B) with respect to any other provision relating to shareholders’ rights or pre-initial Business Combination
      activity. The written request of the Company referenced above shall constitute presumptive evidence that the Company is entitled to distribute said funds, and the Trustee shall have no responsibility to look beyond said request; and

    

    

    (l) Not make any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i), (j) or (k) above.

    

    

    2. Agreements and Covenants of the Company. The
      Company hereby agrees and covenants to:

    

    

    (a) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Co-Chairman of the Board, President, Co-Chief
      Executive Officer, Chief Financial Officer, Chief Operating Officer, General Counsel, Executive Director, Secretary or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(i), 1(j) and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of
      the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;

    

    

    (b) Subject to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented
      expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee
      involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses
      resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek
      indemnification under this Section 2(b), it shall notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to
      settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;

    

    

    (c) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee, and
      transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(i) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The
      Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(c) and as may be provided in Section 2(b)
      hereof;

    

    

    (d) In connection with any vote of the Company’s shareholders regarding a Business Combination, provide to the Trustee an affidavit or
      certificate of the inspector of elections for the shareholder meeting verifying the vote of such shareholders regarding such Business Combination;

    
      
        

    

    (e) Provide Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. with a copy of any Termination Letter(s) and/or any other
      correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;

    

    

    (f) Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the Form of
      Exhibit A that the Deferred Discount be paid directly to the account or accounts directed by Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. prior to the transfer of any Property held in the Trust Account to the Company or any
      other person; and

    

    

    (g) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee
      to make any distributions that are not permitted under this Agreement.

    

    

    (h) Within four (4) business days after the Underwriters exercise the over-allotment option (or any unexercised portion thereof) or such
      over-allotment option expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.

    

    

    3. Limitations of Liability. The Trustee shall
      have no responsibility or liability to:

    

    

    (a) Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this
      Agreement and that which is expressly set forth herein;

    

    

    (b) Take any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no liability to
      any party except for liability arising out of the Trustee’s gross negligence, fraud or willful misconduct;

    

    

    (c) Institute any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding
      of any kind with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses
      incident thereto;

    

    

    (d) Refund any depreciation in principal of any Property;

    

    

    (e) Assume that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless
      provided otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

    

    

    (f) The other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted,
      in good faith and in the Trustee’s best judgment, except for the Trustee’s gross negligence, fraud or willful misconduct. The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or
      advice of counsel (including counsel chosen by the Trustee with written notification to the Company, which counsel may be the Company’s counsel), statement, instrument, report or other paper or document (not only as to its due execution and the
      validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained) which the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed or presented by the
      proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee,
      signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto;

    

    

    (g) Verify the accuracy of the information contained in the Registration Statement;

    

    

    (h) Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as
      contemplated by the Registration Statement;

    
      
        

    

    (i) File information returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic
      written statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the Property;

    

    

    (j) Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and
      activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, but not limited to, franchise and income tax obligations, except pursuant to Section 1(j) hereof; or

    

    

    (k) Verify calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to Sections 1(i), 1(j) or 1(k) hereof.

    

    

    4. Trust Account Waiver. The Trustee has no
      right of set-off or any right, title, interest or claim of any kind (“Claim”) to, or to any monies or other Property in, the
      Trust Account, and hereby irrevocably waives any Claim to, or to any monies or other Property in, the Trust Account that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including,
      without limitation, under Section 2(b) or Section 2(c) hereof, the
      Trustee shall pursue such Claim solely against the Company and its assets outside the Trust Account and not against the Property or any monies in the Trust Account.

    

    

    5. Termination. This Agreement shall terminate
      as follows:

    

    

    (a) If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable
      efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the Company notifies the Trustee that a successor trustee has been appointed and has agreed to become subject
      to the terms of this Agreement (whether following the Trustee giving notice that it desires to resign under this Agreement or the Company otherwise electing to replace the Trustee under this Agreement), the Trustee shall transfer the management of
      the Trust Account to the successor trustee, including but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided, however, that in the event that the Company does not locate a successor trustee within ninety (90) days
      of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State of New York or with the United States District Court for the Southern District of New York and
      upon such deposit, the Trustee shall be immune from any liability whatsoever;

    

    

    (b) At such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions
      of Section 1(i) hereof and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 2(b); or

    

    

    (c) If the Offering is not consummated within ten (10) business days of the date of this Agreement, in which case any funds received by the
      Trustee from the Company or bleuacacia sponsor LLC for purposes of funding the Trust Account shall be promptly returned to the Company or bleuacacia sponsor LLC, as applicable.

    

    

    6. Miscellaneous.

    

    

    (a) The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds
      transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to
      believe unauthorized persons may have obtained access to such confidential information, or of any change in its authorized personnel. In executing funds transfers, the Trustee shall rely upon all information supplied to it by the Company, including,
      account names, account numbers, and all other identifying information relating to a Beneficiary, Beneficiary’s bank or intermediary bank. Except for any liability arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee
      shall not be liable for any loss, liability or out-of-pocket expense resulting from any error in the information or transmission of the funds.

    
      
        

    

    (b) This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York.

    

    

    (c) This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except
      for Section 1(i), 1(j) and 1(k) hereof (which sections may not be
      modified, amended or deleted without the affirmative vote of sixty five percent (65%) of the then outstanding Ordinary Shares and Class B ordinary shares, par value $0.0001 per share, of the Company voting together as a single class; provided that no
      such amendment will affect any Public Shareholder who has otherwise indicated his, her or its election to redeem his, her or its Ordinary Shares in connection with a shareholder vote sought to amend this Agreement), this Agreement or any provision
      hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by each of the parties hereto.

    

    

    (d) The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of New
      York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY
        WAIVES THE RIGHT TO TRIAL BY JURY.

    

    

    (e) Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and
      shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery, by electronic mail or by facsimile transmission:

    

    

    
      if to the Trustee, to:

       

      

    

    Continental Stock Transfer & Trust Company

    

    

    One State Street, 30th Floor

    

    

    New York, New York 10004

    

    

    Attn: Francis Wolf & Celeste Gonzalez

    

    

    Email: fwolf@continentalstock.com

    

    

    Email: cgonzalez@continentalstock.com

    

    

    if to the Company, to:

    

    

    bleuacacia ltd

    

    

    500 Fifth Avenue

    

    

    New York, New York 10110

    

    

    Attn: Chief Executive Officer or Co-Chief Executive Officer

    

    

    Email: [●]

    

    

    in each case, with copies to:

    

    

    Freshfields Bruckhaus Deringer US LLP

    

    

    601 Lexington Avenue

    

    

    New York, New York  10022

    

    

    Attn: Valerie Ford Jacob, Esq.

    

    

    Fax No.: (212) 277-4000

    

    

    
      
        

    

    and

    

    

    Credit Suisse Securities (USA) LLC

    

    

    Eleven Madison Avenue

    

    

    New York, New York 10010-3629

    

    

    Attn: Niron Stabinsky

    

    

    Fax: [●]

    

    

    and

    

    

    Citigroup Global Markets Inc.

    

    

    338 Greenwich Street

    

    

    New York, New York, 10013

    

    

    Attention: General Counsel

    

    

    Fax: [●]

    

    

    and

    

    

    Ropes & Gray LLP

    

    

    1211 Avenue of the Americas

    

    

    New York, New York  10036

    

    

    Attn: Paul D. Tropp, Esq.

    

    

    Fax No.: [●]

    

    

    (f) This Agreement may not be assigned by the Trustee without the prior consent of the Company.

    

    

    (g) Each of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into
      this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to
      any funds in the Trust Account under any circumstance.

    

    

    (h) This Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual
      consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

    

    

    (i) This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such
      counterparts shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission shall constitute valid and sufficient delivery thereof.

    

    

    (j) Each of the Company and the Trustee hereby acknowledges and agrees that each of Credit Suisse Securities (USA) LLC and Citigroup Global
      Markets Inc. is a third party beneficiary of this Agreement.

    

    

    (k) Except as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other person
      or entity.

    

    

    [Signature page follows]

    
      
        

    

    IN WITNESS WHEREOF, the parties
      have duly executed this Investment Management Trust Agreement as of the date first written above.

     

    

    	 	
            Continental Stock Transfer & Trust Company, as Trustee

          
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          
	 	 
	 	
            bleuacacia ltd

          
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

     

    

    [Signature Page to Investment Management Trust Agreement]

    
      
        

    

    SCHEDULE A

     

    

     

    

     

    

     

    

    
      
        

    

    

    

    	
            Fee Item

          	 	
            Time and method of payment

          	 	
            Amount

          	 
	
            Initial acceptance fee

          	 	
            Initial closing of the Offering by wire transfer.

          	 	
            $

          	
            4,500.00

          	 
	 	 	 	 	 	 	 
	
            Annual fee

          	 	
            First year fee payable at initial closing of the Offering by wire transfer, thereafter on the anniversary of the effective date of the
              Offering by wire transfer or check.

          	 	
            $

          	
            10,000.00

          	 
	 	 	 	 	 	 	 
	
            Transaction processing fee for disbursements to Company under Sections 1(i) and 1(j)

          	 	
            Billed to Company following disbursement made to Company under Sections 1(i) and 1(j)

          	 	
            $

          	
            250.00

          	 
	 	 	 	 	 	 	 
	
            Paying Agent services as required pursuant to Section 1(i) and 1(k)

          	 	
            Billed to Company upon delivery of service pursuant to Section 1(i) and 1(k)

          	 	 	
            Prevailing rates

          	 

    
      
        

    

    EXHIBIT A

    

    

    

    

    

    

    

    

    
      
        

    

    

    

    [Letterhead of Company]

    

    

    [Insert date]

    

    

    Continental Stock Transfer & Trust Company

    

    

    One State Street, 30th Floor

    

    

    New York, New York 10004

    

    

    Attn: Francis Wolf & Celeste Gonzalez

    

    

    Re: Trust Account Termination Letter

    

    

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(i) of the Investment
      Management Trust Agreement between bleuacacia ltd (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of [•], 2021 (the “Trust Agreement”), this is to advise you that the Company has entered into an agreement with (the “Target
        Business”) to consummate a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with the Target Business (the “Business Combination”) on or about [insert date]. The Company shall notify you at least
      seventy-two (72) hours in advance of the actual date (or such shorter time period as you may agree) of the consummation of the Business Combination (“Consummation Date”). Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

    

    

    In accordance with the terms of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust
      Account and to transfer the proceeds into the above-referenced trust operating account at [●] to the effect that, on the Consummation Date, all of the funds held in the Trust Account will be immediately available for transfer to the account or
      accounts that Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. (the “Representatives”) (with respect to the
      Deferred Discount) and the Company shall direct on the Consummation Date. It is acknowledged and agreed that while the funds are on deposit in the trust operating account at [●] awaiting distribution, neither the Company nor the Representative will
      earn any interest.

    

    

    On the Consummation Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been
      consummated, or will be consummated substantially, concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”) and (ii) the Company shall deliver to you (a) a certificate of a Co-Chief Executive Officer, which verifies that the Business Combination has been approved by a vote of the Company’s shareholders, if a vote is held
      and (b) joint written instruction signed by the Company and the Representative with respect to the transfer of the funds held in the Trust Account, including payment of the Deferred Discount from the Trust Account (the “Instruction Letter”). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the
      Notification and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company
      in writing of the same and the Company shall direct you as to whether such funds should remain in the Trust Account and be distributed after the Consummation Date to the Company. Upon the distribution of all the funds, net of any payments necessary
      for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated.

    

    

    In the event that the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not
      notified you on or before the original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the funds held in the Trust Account shall be reinvested as provided in Section 1(c) of the
      Trust Agreement on the business day immediately following the Consummation Date as set forth in the notice as soon thereafter as possible.

    
      
        

    

     

    

    	 	
            Very truly yours,

          
	 	
            bleuacacia ltd

          
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          
	 	
            Agreed and acknowledged by:

             

            Credit Suisse Securities (USA) LLC

             

            By:          

             

            Name: [●]

             

            Title: [●]

             

            Citigroup Global Market Inc.

             

            By:                   

            

             

            Name: [●]

             

            Title: [●]

          	 

    
      
        

    

    EXHIBIT B

     

    

     

    

     

    

     

    

    
      
        

    

    [Letterhead of Company]

     

    

     

    

     

    

     

    

     

    

    
      
        

    

    

    

    [Insert date]

    

    

    Continental Stock Transfer & Trust Company

    

    

    One State Street, 30th Floor

    

    

    New York, New York 10004

    

    

    Attn: Francis Wolf & Celeste Gonzalez

    

    

    Re: Trust Account Termination Letter

    

    

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(i) of the Investment
      Management Trust Agreement between bleuacacia ltd (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of
      [•], 2021 (the “Trust Agreement”), this is to advise you that the Company has been unable to effect a merger, share exchange,
      asset acquisition, share purchase, reorganization or similar business combination with a target business (the “Business Combination”)
      within the time frame specified in the Company’s amended and restated memorandum and articles of association, as described in the Company’s Prospectus relating to the Offering. Capitalized terms used but not defined herein shall have the meanings set
      forth in the Trust Agreement.

    

    

    In accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to
      transfer the total proceeds into the trust operating account at [●] to await distribution to the Public Shareholders. The Company has selected [●] as the effective date for the purpose of determining when the Public Shareholders will be entitled to
      receive their share of the liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly to the Company’s Public Shareholders in accordance with the terms of
      the Trust Agreement and the amended and restated memorandum and articles of association of the Company. Upon the distribution of all the funds, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise provided in
      Section 1(j) of the Trust Agreement.

     

    

    	 	
            Very truly yours,

          
	 	
            bleuacacia ltd

          
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          
	
            cc:

          	
            Credit Suisse Securities (USA) LLC

             

            Citigroup Global Markets Inc.

          	 

    
      
        

    

    EXHIBIT C

     

    

     

    

     

    

    
      
        

    

    [Letterhead of Company]

    
      
        

    

    

    

    [Insert date]

    

    

    Continental Stock Transfer & Trust Company

    

    

    One State Street, 30th Floor

    

    

    New York, New York 10004

    

    

    Attn: Francis Wolf & Celeste Gonzalez

    

    

    Re: Trust Account Tax Payment Withdrawal Instruction

    

    

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(j) of the Investment
      Management Trust Agreement between bleuacacia ltd (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of
      [•], 2021 (the “Trust Agreement”), the Company hereby requests that you deliver to the Company $ of the interest income earned
      on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

    

    

    The Company needs such funds to pay for the tax obligations as set forth on the attached tax return or tax statement. In accordance with
      the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating account at:

    

    

    [WIRE INSTRUCTION INFORMATION]

     

    

    	 	
            Very truly yours,

          
	 	
            bleuacacia ltd

          
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          
	
            cc:

          	
            Credit Suisse Securities (USA) LLC

             

            Citigroup Global Markets Inc.

          	 

    
      
        

    

    EXHIBIT D

     

    

     

    

     

    

    
      
        

    

    [Letterhead of Company]

    
      
        

    

    

    

    [Insert date]

    

    

    Continental Stock Transfer & Trust Company

    

    

    One State Street, 30th Floor

    

    

    New York, New York 10004

    

    

    Attn: Francis Wolf & Celeste Gonzalez

    

    

    Re: Trust Account Shareholder Redemption Withdrawal
          Instruction

    

    

    Dear Mr. Wolf and Ms. Gonzalez:

    

    

    Pursuant to Section 1(k) of the Investment Management Trust Agreement between bleuacacia ltd (the “Company”) and Continental Stock Transfer & Trust
      Company (the “Trustee”), dated as of [•], 2021 (the “Trust Agreement”), the Company hereby requests that you deliver to the redeeming Public Shareholders on behalf of the Company $             of the principal and interest income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

    

    

    The Company needs such funds to pay its Public Shareholders who have properly elected to have their Ordinary Shares redeemed by the Company
      in connection with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the
      Company’s initial Business Combination or to redeem 100% of the Company’s public Ordinary Shares if it does not complete its initial Business Combination within such time as is described in the Company’s amended and restated memorandum and articles
      of association or (B) with respect to any other provision relating to shareholders’ rights or pre-initial Business Combination activity. As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your
      receipt of this letter to the redeeming Public Shareholders in accordance with your customary procedures.

     

    

    	 	
            Very truly yours,

          
	 	
            bleuacacia ltd

          
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          
	
            cc:

          	
            Credit Suisse Securities (USA) LLC

             

            Citigroup Global Markets Inc.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}]]