Document:

Exhibit 10.5

 

Agile
Growth Corp.

Riverside Center

275 Grove Street, Suite 2-400

Newton, MA 02466

 

[●]

 

Agile Growth Sponsor, LLC

Riverside Center

275 Grove Street, Suite 2-400

Newton, MA 02466

 

Ladies and Gentlemen:

 

This letter will confirm our agreement that,
commencing on the effective date (the “Effective Date”) of the registration statement (the “Registration
Statement”) for the initial public offering (the “IPO”) of the securities of Agile Growth
Corp. (the “Company”) and continuing until the earlier of (i) the consummation by the Company of an initial
business combination and (ii) the Company’s liquidation (in each case as described in the Registration Statement) (such earlier
date hereinafter referred to as the “Termination Date”), Agile Growth Sponsor, LLC (the “Sponsor”)
shall take steps directly or indirectly to (i) make available to the Company certain office space and other facilities as may be
required by the Company from time to time, situated at Riverside Center, 275 Grove Street, Suite 2-400, Newton, MA 02466 (or any
successor location) (the “Facilities Services”) and (ii) render to the Company, on a non-exclusive basis,
by and through such of the Sponsor’s officers, employees, agents, independent contractors, representatives and affiliates
as the Sponsor, in its sole discretion, may designate or engage from time to time (the “Personnel”),
certain secretarial, support, consulting and administrative services, including research, due diligence, transaction process management
and execution and other services of a type customarily provided by entities similar to the Sponsor (collectively, the “Personnel
Services”); provided, however, that the Personnel Services shall not include any investment advice to the
Company.

 

The Company acknowledges that certain of
the Personnel also will be performing services for the Sponsor and/or other companies from time to time, including certain subsidiaries
and affiliates of the Sponsor, in each case, while also potentially performing services directly for the Company irrespective of
this letter agreement. The parties acknowledge and agree that the Sponsor, and not the Company, will be solely responsible for
the payment of salaries, wages, benefits (including health insurance, retirement, and other similar benefits, if any) and other
compensation applicable to all Personnel. All Personnel will be subject to the personnel policies of the Sponsor. The Sponsor will
be responsible for the payment of all federal, state, and local withholding taxes on the compensation of all Personnel and other
such employment related taxes as are required by law. The Company will cooperate with the Sponsor to facilitate the Sponsor’s
compliance with applicable federal, state, and local laws, rules, regulations, and ordinances applicable to the employment or engagement
of all Personnel.

 

In exchange for the Facilities
Services, the Company shall pay the Sponsor, or an affiliate thereof, as determined by the Sponsor, a sum of up to $3,333 per
month on the Effective Date and continuing monthly thereafter until the Termination Date.

 

In exchange for the Personnel
Services, the Company shall pay the Sponsor, or an affiliate thereof, as determined by the Sponsor, a sum of up to $36,667
per month on the Effective Date and continuing monthly thereafter until the Termination Date.

 

The Sponsor hereby agrees that it does not
have any right, title, interest or claim of any kind (a “Claim”) in or to any monies that may be set
aside in a trust account (the “Trust Account”) that may be established upon the consummation of the IPO
and hereby irrevocably waives any Claim it may have in the future as a result of, or arising out of, any negotiations, contracts
or agreements with the Company and will not seek recourse against the Trust Account for any reason whatsoever.

 

    

     

    

 

This letter agreement constitutes the entire
agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements,
or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter
hereof or the transactions contemplated hereby.

 

This letter agreement may not be amended,
modified or waived as to any particular provision, except by a written instrument executed by the parties hereto.

 

The parties may not assign this letter agreement
and any of their rights, interests, or obligations hereunder without the consent of the other party.

 

This letter agreement shall be governed
by, construed in accordance with, and interpreted pursuant to the laws of the State of New York, without giving effect to its choice
of laws principles that will apply the laws of another jurisdiction.

 

This letter agreement may be executed in
one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute
one and the same agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced
to evidence the existence of this letter agreement.

 

[Signature Page Follows]

 

    

     

    

 

	 	Very truly yours,
	 	 
	 	Agile Growth
Corp.
	 	 
	 	By:	
	 	Name:	[●]
	 	Title:	[●]

 

	AGREED TO AND ACCEPTED BY:	 
	 	 
	Agile Growth Sponsor,
LLC	 
	 	 
	By:		 
	Name:	[●]	 
	Title:	[●]Exhibit 10.6

 

THIS PROMISSORY NOTE (“NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED
OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

PROMISSORY NOTE

 

	Principal Amount: up to $300,000	Dated as of January 23, 2021

(as set forth on the Schedule of Borrowings
attached hereto)

 

Agile Growth Corp.,
a Cayman Islands exempted company and blank check company (the “Maker”), promises to pay to the order of Agile
Growth Sponsor, LLC, a Delaware limited liability company, or its registered assigns or successors in interest (the “Payee”),
or order, the principal sum of up to three hundred thousand U.S. dollars ($300,000) (as set forth on the Schedule of Borrowings
attached hereto) in lawful money of the United States of America, on the terms and conditions described below. All payments on
this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such
account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note.

 

1.             Principal.
The principal balance of this Note shall be payable by the Maker on the earlier of: (i) December 31, 2021 or (ii) the date
on which Maker consummates an initial public offering of its securities (the “IPO”). The principal balance
may be prepaid at any time. Under no circumstances shall any individual, including but not limited to any officer, director, employee
or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.

 

2.             Interest.
No interest shall accrue on the unpaid principal balance of this Note. 

 

3.             Drawdown
Requests. Maker and Payee agree that Maker may request up to Three Hundred Thousand Dollars ($300,000) for costs reasonably
related to Maker’s initial public offering of its securities. The principal of this Note may be drawn down from time to
time prior to the earlier of: (i) December 31, 2021 or (ii) the date on which Maker consummates an initial public offering of
its securities, upon written request from Maker to Payee (each, a “Drawdown Request”). Each Drawdown Request must
state the amount to be drawn down, and must not be an amount less than One Thousand Dollars ($1,000) unless agreed upon by Maker
and Payee. Payee shall fund each Drawdown Request no later than one (1) business day after receipt of a Drawdown Request; provided,
however, that the maximum amount of drawdowns collectively under this Note is Three Hundred Thousand Dollars ($300,000). No fees,
payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.

 

4.             Application
of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due
under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges
and finally to the reduction of the unpaid principal balance of this Note.

 

5.             Events
of Default. The following shall constitute an event of default (“Event of Default”):

 

 (a)               
Failure to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within
five (5) business days of the date specified above.

 

 (b)               
Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency,
reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver,
liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its
property, or the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts
as such debts become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

 

 (c)               
Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises
in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver,
liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property,
or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect
for a period of 60 consecutive days.

 

     

     

    

 

6.             Remedies.

 

 (a)               
Upon the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare
this Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable
thereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which
are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

 (b)               
Upon the occurrence of an Event of Default specified in Sections 5(b) and 5(c), the unpaid principal balance of this Note,
and all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without
any action on the part of Payee.

 

7.             Waivers.
Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor,
protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by
Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting
any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy
or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment;
and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of
execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

8.             Unconditional
Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other
party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted
by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors,
or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

9.             Notices.
All notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and
delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic
transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such
other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic
mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such
party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered
personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one
(1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

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10.           Construction.
THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS
THEREOF.

 

11.           Severability.
Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and
any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

 

12.           Trust
Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim
of any kind (“Claim”) in or to any distribution of or from the trust account to be established in which the
proceeds of the IPO conducted by the Maker (including the deferred underwriters discounts and commissions) and certain of the
proceeds of the sale of the warrants issued in a private placement to occur in connection with the consummation of the IPO are
to be deposited, as described in greater detail in the registration statement and prospectus to be filed with the Securities and
Exchange Commission in connection with the IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction
for any Claim against the trust account for any reason whatsoever.

 

13.           Amendment;
Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the
Maker and the Payee.

 

14.           Assignment.
No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation
of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required
consent shall be void.

 

[Signature page follows]

 

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IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned
as of the day and year first above written.

 

	 	AGILE GROWTH CORP.
	 	a Cayman Islands exempted company

 

	 	By:	/s/ Jay Bhatt
	 		Name: Jay Bhatt
	 		Title: Chief Executive Officer and Chief Financial
    Officer

 

[Signature Page to Promissory Note]

 

     

     

    

 

SCHEDULE OF BORROWINGS

 

The following increases or decreases in
this Promissory Note have been made:

 

	
        Date of
        Increase or Decrease
	
        Amount of
        decrease in Principal

 Amount of this Promissory Note
	
        Amount of
        increase in Principal

 Amount of this Promissory Note
	
        Principal
        Amount of this Promissory

 Note following such decrease or

 increase

	 	 	 	 

 

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