Document:

Exhibit
10.5 

 

THIS
EXPENSE ADVANCEMENT AGREEMENT (this “Agreement”), dated as of December 12, 2018, is made and entered
into by and among CF Finance Acquisition Corp., a Delaware corporation (the “Company”), and CF Finance
Holdings LLC (the “Sponsor”).

 

RECITALS

 

WHEREAS,
the Company is engaged in an initial public offering (the “Offering”) pursuant to which the Company
will issue and deliver up to 28,750,000 units (the “Units”) (including up to 3,750,000 Units subject
to an over-allotment option granted to the underwriters of the Offering), with each Unit comprised of one share of common stock,
par value $0.0001 per share (the “Common Stock”), of the Company and three-quarters of one warrant,
each whole warrant exercisable to purchase one share of Common Stock at $11.50 per share, subject to certain adjustments (each,
a “Warrant,” and collectively, the “Warrants”);

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission a registration statement on Form S-1, No. 333-228420 (the “Registration
Statement”) for the registration, under the Securities Act of 1933, as amended (the “Securities Act”),
of the Units the Warrants and the Common Stock underlying the Units, including a prospectus (the “Prospectus”);

 

WHEREAS,
the gross proceeds of the Offering, together with certain additional amounts, will be deposited in a trust account (the “Trust
Account”) at J.P. Morgan Chase Bank, N.A. and managed by Continental Stock Transfer & Trust Company, as trustee,
as described in the Registration Statement and the Prospectus; and

 

WHEREAS,
the Sponsor desires to enter into this Agreement in order to facilitate the Offering and the other transactions contemplated in
the Registration Statement and the Prospectus, including any merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or other similar business combination by the Company with one or more businesses (a “Business Combination”).

 

NOW,
THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally
bound, hereby agree as follows:

 

1.
             (a)        From time to time, as may be requested by the Company, the Sponsor agrees to advance to the Company up to $750,000.00 in the
aggregate, in each instance pursuant to the terms of the form of promissory note attached as Exhibit A hereto (the “Note”),
as may be necessary to fund the Company’s expenses relating to investigating and selecting a target business and other working
capital requirements following the Offering and prior to any potential Business Combination.

 

(b)          
The Sponsor represents to the Company that the Sponsor is capable of making such advances to satisfy its obligations under Section
1(a).

 

(c)
          Notwithstanding anything to the contrary herein or in the Note, the Sponsor hereby waives any and all right, title, interest or
claim of any kind (“Claim”) in or to any distribution of the Trust Account in which the proceeds of
the Offering, together with certain additional amounts, as described in greater detail in the Registration Statement and the Prospectus,
will be deposited, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust
Account for any reason whatsoever; provided, however, that if the Company completes its Business Combination, the Company may
repay such loaned amounts out of the proceeds released to the Company from the Trust Account.

 

2.
            This Agreement, together with the Note, 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
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 the parties hereto.

 

     

     

    

 

3.
           No party may assign either this Agreement or any of his, her or its rights, interests, or obligations hereunder without the prior
written consent of the other party; provided, however, that, subject to all applicable securities laws, the Note shall
be freely assignable by the Sponsor to any assignee; provided, further, that Sponsor’s obligations hereunder shall
remain in full force and effect in the event that an assignee fails to timely perform any of Sponsor’s obligations hereunder.
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 Agreement shall be binding on the undersigned and each of his or its heirs,
personal representatives, successors and assigns.

 

4.
            Any notice, statement or demand authorized by this Agreement shall be sufficiently given (i) when so delivered if by hand or overnight
delivery, (ii) the date and time shown on a facsimile transmission confirmation, or (iii) if sent by certified mail or private
courier service within five (5) days after deposit of such notice, postage prepaid. Such notice, statement or demand shall be
addressed as follows:

 

If
to the Company or the Sponsor:

 

110
East 59th Street

New
York, NY 10022

Attn:
Chief Executive Officer

Facsimile: (212) 829-4708

 

with
a copy in each case (which shall not constitute notice) to:

 

Ellenoff
Grossman & Schole LLP

1345
Avenue of the Americas

New
York, New York 10105

Attn:
Stuart Neuhauser, Esq.

Facsimile:
(212) 370-7889

 

5.            
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.

 

6.            
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.

 

7.
            This Agreement shall be governed by and construed and enforced in accordance with 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
parties hereto (i) agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Agreement
shall be brought and enforced in the state or federal courts located in the Borough of Manhattan in the State of New York, and
irrevocably submits 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.

 

[Signature
Page Follows]

 

     

     

    

 

IN
WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first written above.

 

	 	CF
    FINANCE ACQUISITION CORP.
	 	 	 
	 	By:	 /s/
    Howard W. Lutnick
	 	 	Name:
    Howard W. Lutnick
	 	 	Title:
    Chairman and Chief Executive Officer

 

	 	CF
    FINANCE HOLDINGS LLC
	 	 
	 	By:	 /s/
    Howard W. Lutnick
	 	 	Name:
    Howard W. Lutnick
	 	 	Title:
    Chief Executive Officer

 

[Signature
Page to the Expense Advance Agreement between CF Finance Acquisition Corp. and CF Finance Holdings, LLC for up to $750,000]

 

     

     

    

 

Exhibit
A

 

Promissory
Note

 

THIS
PROMISSORY NOTE (“NOTE”) AND THE SECURITIES INTO WHICH THE NOTE MAY BE CONVERTED HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR UNDER THE SECURITIES LAWS OF ANY STATE. 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 AND APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE
AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

PROMISSORY
NOTE

 

	 	 Dated
    as of _____, 2014
	 	 
	Principal
    Amount: Up to $750,000.00 	New
    York, New York

 

Pursuant
to that certain Expense Advance Agreement (the “Agreement”), dated as of December 12, 2018, by and between
CF Finance Acquisition Corp., a Delaware corporation (the “Maker”), and CF Finance Holdings LLC (the “Payee”),
the Maker hereby promises to pay to the order of the Payee or its registered assigns or successors in interest, the principal
sum of up to Seven Hundred Fifty Thousand Dollars ($750,000.00) in lawful money of the United States of America, on the terms
and conditions described below. Except for the optional conversions described below in Section 15, 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. Certain terms used herein
but not defined herein shall have the meaning given to such terms in the Agreement.

 

1.            
Principal. The principal balance of this Note shall be payable by Maker on the date on which Maker consummates its Business
Combination. 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 or be charged by Payee on the unpaid principal balance of this Note.

 

3.
            Drawdown Requests. Maker and Payee agree that Maker may request up to Seven Hundred Fifty Thousand Dollars ($750,000.00) for
costs reasonably related to Maker’s working capital needs prior to the consummation of the Business Combination. The principal
of this Note may be drawn down from time to time prior to the date on which Maker consummates a Business Combination, upon request
from Maker to Payee (each, a “Drawdown Request”) in such amounts as Maker may determine in its discretion.
Payee shall fund each Drawdown Request no later than five (5) business days after receipt of a Drawdown Request; provided, however,
that the maximum amount of drawdowns collectively under this Note is Seven Hundred Fifty Thousand Dollars ($750,000.00). Once
an amount is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid. 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 (or conversions into warrants, as applicable) 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 and 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 occurrence of any of 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 or issue warrants pursuant to Section 15 hereof, if so elected by Payee.

 

(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 hereunder,
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) or 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, or 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 Note shall be made: (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 or (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.

 

     

     

    

 

10.
         Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD
TO CONFLICT OF LAW PRINCIPLES 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 right, title, interest or claim
of any kind (“Claim”) in or to any distribution of or from the Trust Account, and hereby agrees not to seek
recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever; provided,
however, that if the Maker completes a Business Combination, the Maker shall repay the principal balance of this Note, which may
be out of the proceeds released to the Maker from the Trust Account.

 

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; provided, however, that this Note shall be freely assignable by the Payee to any assignee.

 

15.
         Optional Conversion Into Warrants.

 

(a)
          At the Payee’s option, at any time prior to payment in full of the principal balance of this Note, the Payee may elect to
convert all or any portion of this Note into that number of warrants (the “Conversion Warrants”) equal to:
(i) the portion of the principal amount of the Note being converted pursuant to this Section 15, divided by (ii) $1.00, rounded
down to the nearest whole number. Each Conversion Warrant shall have the same terms and conditions as the warrants included in
the units issued by the Maker pursuant to a private placement to Payee, as described in Maker’s Registration Statement on
Form S-1 (333-228420), including the transfer restrictions applicable thereto. The Conversion Warrants, the shares of Common Stock
underlying the Conversion Warrants and any other equity security of Maker issued or issuable with respect to the foregoing by
way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, amalgamation, consolidation
or reorganization (the “Warrant Shares”), shall be entitled to the registration rights set forth in that certain
registration rights agreement between the Maker and the parties thereto, dated as of December 12, 2018.

 

(b)          
Upon any complete or partial conversion of the principal amount of this Note, (i) such principal amount shall be so converted
and such converted portion of this Note shall become fully paid and satisfied, (ii) the Payee shall surrender and deliver this
Note, duly endorsed, to Maker or such other address which Maker shall designate against delivery of the Conversion Warrants, (iii)
Maker shall promptly deliver a new duly executed Note to the Payee in the principal amount that remains outstanding, if any, after
any such conversion and (iv) in exchange for all or any portion of the surrendered Note, Maker shall, within five (5) business
days following receipt by Maker of Payee’s election to convert this Note pursuant to this Section 15, deliver to Payee the
Conversion Warrants, which shall bear such legends as are required, in the opinion of counsel to Maker or by any other agreement
between Maker and the Payee and applicable state and federal securities laws.

 

(c)
           The Payee shall pay any and all issue and other taxes that may be payable with respect to any issue or delivery of the Conversion
Warrants upon conversion of this Note pursuant hereto; provided, however, that the Payee shall not be obligated to pay any transfer
taxes resulting from any transfer requested by the Payee in connection with any such conversion.

 

     

     

    

 

(d)           
The Conversion Warrants shall not be issued upon conversion of this Note unless such issuance and such conversion comply with
all applicable provisions of law.

 

[Signature
Page Follows]

 

     

     

    

 

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.

 

	 	CF
    Finance Acquisition Corp.
	 	 	 
	 	By:	 /s/
    Howard W. Lutnick
	 	 	Name:
    Howard W. Lutnick
	 	 	Title:
    Chairman and Chief Executive Officer

 

[Signature
Page to the Promissory Note by CF Finance Acquisition Corp. in favor of CF Finance Holdings, LLC for up to $750,000 for Working
Capital]Exhibit
10.6 

 

THIS
PROMISSORY NOTE (“NOTE”) AND THE SECURITIES INTO WHICH THE NOTE MAY BE CONVERTED HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR UNDER THE SECURITIES LAWS OF ANY STATE.  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 AND APPLICABLE STATE SECURITIES LAWS 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 $2,875,000.00 	Dated
    as of December 17, 2018
	 	New
    York, New York

 

CF
Finance Acquisition Corp., a Delaware corporation (the “Maker”), hereby promises to pay to the order of
CF Finance Holdings LLC (the “Payee”) or its registered assigns or successors in interest, the principal sum
of up to Two Million Eight Hundred Seventy Five Thousand Dollars ($2,875,000.00) in lawful money of the United States of America,
on the terms and conditions described below.  Except for the optional conversions described below in Section 15, 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 Maker on the date (the “Maturity Date”) on which Maker consummates
a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with
one or more businesses (the “Business Combination”). The principal balance may not be prepaid, and is
only payable upon consummation by the Maker of the Business Combination. 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. If a Business Combination is not consummated, this Note will be extinguished.

 

2.            Interest. No
interest shall accrue or be charged by Payee on the unpaid principal balance of this Note.

 

3.            Drawdown
Requests. Maker and Payee agree that Maker may request Two Million Five Hundred Thousand Dollars ($2,500,000) to fund
the trust account established in connection with the Maker’s initial public offering (the “Trust Account”)
to a value of $10.10 per public share sold in such initial public offering (the “Trust Account Funding Level”),
on the date of the consummation of such offering, solely for deposit into the Trust Account. The remaining undrawn principal of
this Note may be drawn down on the date of the consummation of the underwriter’s over-allotment option in connection with
the IPO (which may be the date identified in the first sentence of this Section 3), solely for deposit into the Trust Account
to ensure that the Trust Account Funding Level is maintained at $10.10 per share sold in the Maker’s initial public offering,
in an amount proportionate to the exercise of such over-allotment option. Once an amount is drawn down under this Note, it shall
not be available for future drawdown. No fees, payments or other amounts shall be due to Payee in connection with, or as a result
of, any payments under this Note.

 

4.            Application
of Payments; No Repayment. All payments (or conversions into units, as applicable) 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 and then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this
Note. In the event no Business Combination is consummated by the Maker within the time prescribed in the Maker’s amended
and restated certificate of incorporation, as amended from time to time, the principal balance hereunder held in the Trust Account,
as well as any interest earned thereon, shall be distributed solely to the Maker’s public stockholders upon the Maker’s
liquidation or dissolution.

 

     

     

    

 

5.            Events
of Default. The occurrence of any of the following shall constitute an event of default, but only following the date
of the consummation of a Business Combination and to the extent any amounts under this Note remain outstanding (“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 or issue units pursuant to Section 15 hereof, if so elected by Payee.

 

(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 hereunder,
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) or 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, or 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 Note shall be made: (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 or (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.

 

     

     

    

 

10.            Construction. THIS
NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES
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 right, title, interest or
claim of any kind (“Claim”) in or to any distribution of or from the Trust Account, and hereby agrees not to
seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever; provided,
however, that if the Maker completes its Business Combination, the Maker shall repay the principal balance of this Note, which
may be out of the proceeds released to the Maker from the Trust Account.

 

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; provided, however, that this Note shall be freely assignable by the Payee to any assignee, subject
to any applicable securities laws.

 

15.          Optional
Conversion Into Units.

 

(a)          At
the Payee’s option, on the Maturity Date, the Payee may elect to convert all or any portion of this Note into that number
of units (the “Conversion Units”) equal to: (i) the portion of the principal amount of the Note being converted
pursuant to this Section 15, divided by (ii) $10.00, rounded up to the nearest whole number. Each Conversion Unit shall have the
same terms and conditions as the units issued by the Maker pursuant to a private placement to Payee, as described in Maker’s
Registration Statement on Form S-1 (333-228420), including the transfer restrictions applicable thereto. The Conversion Units,
the shares of Common Stock and warrants underlying the Conversion Units, and the shares of Common Stock underlying such warrants,
and any other equity security of Maker issued or issuable with respect to the foregoing by way of a stock dividend or stock split
or in connection with a combination of shares, recapitalization, amalgamation, consolidation or reorganization (the “Unit
Securities”), shall be entitled to the registration rights set forth in that certain registration rights agreement between
the Maker and the parties thereto, dated as of December 12, 2018.

 

(b)          Upon
any complete or partial conversion of the principal amount of this Note, (i) such principal amount shall be so converted and such
converted portion of this Note shall become fully paid and satisfied, (ii) the Payee shall surrender and deliver this Note, duly
endorsed, to Maker or such other address which Maker shall designate against delivery of the Conversion Units, (iii) Maker shall
promptly deliver a new duly executed Note to the Payee in the principal amount that remains outstanding, if any, after any such
conversion and (iv) in exchange for all or any portion of the surrendered Note, Maker shall, within five (5) business days following
receipt by Maker of Payee’s election to convert this Note pursuant to this Section 15, deliver to Payee the Conversion Units,
which shall bear such legends as are required, in the opinion of counsel to Maker or by any other agreement between Maker and
the Payee and applicable state and federal securities laws.

 

(c)          The
Payee shall pay any and all issue and other taxes that may be payable with respect to any issue or delivery of the Conversion
Units upon conversion of this Note pursuant hereto; provided, however, that the Payee shall not be obligated to pay any transfer
taxes resulting from any transfer requested by the Payee in connection with any such conversion.

 

     

     

    

  

(d)          The
Conversion Units shall not be issued upon conversion of this Note unless such issuance and such conversion comply with all applicable
provisions of law.

 

[Signature
Page Follows]

 

     

     

    

 

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. 

 

	 	CF
    Finance Acquisition Corp.
	 	 	 
	 	By:	 /s/
    Howard W. Lutnick
	 	 	Name:
    Howard W. Lutnick
	 	 	Title:   Chairman
    and Chief Executive Officer

 

[Signature
Page to the Promissory Note by CF Finance Acquisition Corp. in favor of CF Finance Holdings, LLC for up to $2,875,000]

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