Document:

Exhibit 10.1

    

    

    PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT

    

    

    THIS PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT (as it may from time to time be amended and including all exhibits referenced herein, this “Agreement”), dated as of March 3, 2021, is entered into by and between Twin Ridge Capital Acquisition Corp., a Cayman Islands exempted company (the “Company”), and Twin
      Ridge Capital Sponsor, LLC, a Delaware limited liability company (the “Purchaser”).

    

    

    WHEREAS, the Company intends to consummate an initial public offering of the Company’s units (the “Public Offering”), each unit
      consisting of one Class A ordinary share of the Company, par value $0.0001 per share (each, a “Share”), and one-third of one redeemable warrant, each whole warrant entitling the holder to
      purchase one Share at an exercise price of $11.50 per Share, as set forth in the Company’s Registration Statement on Form S-1, filed with the U.S. Securities and Exchange Commission (the “SEC”),
      File Number 333-252363 under the Securities Act of 1933, as amended (the “Securities Act”).

    

    

    WHEREAS, the Purchaser has agreed to purchase an aggregate of 4,933,333 warrants (or up to 5,333,333 warrants if the Underwriter’s (as defined below) option to purchase additional units in
      connection with the Company’s initial public offering is exercised in full) (the “Private Placement Warrants”), each Private Placement Warrant entitling the holder to purchase one Share at
      an exercise price of $11.50 per Share, at a price of $1.50 per warrant, subject to adjustment.

    

    

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

    

    

    AGREEMENT

    

    

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

    

    

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

    

    

    B.           Purchase and Sale of the Private Placement Warrants.

    

    

    (i)            On the date of the consummation of the Public Offering (the “Closing Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, 4,933,333 Private Placement Warrants at a price of $1.50 per warrant for an aggregate purchase price of
        $7,400,000 (the “Purchase Price”). The Purchaser shall pay the Purchase Price by wire transfer of immediately available funds in the following amounts: (i) $3,400,000 to the Company at a
        financial institution to be chosen by the Company, and (ii) $4,000,000 to the trust account maintained by Continental Stock Transfer & Trust Company, acting as trustee (the “Trust Account”),
        in each case in accordance with the Company’s wiring instructions, at least one (1) business day prior to the Closing Date. On the Closing Date, subject to the receipt of funds pursuant to the immediately prior sentence, the Company, at its option,
        shall deliver a certificate evidencing the Private Placement Warrants purchased on such date duly registered in the Purchaser’s name to the Purchaser or effect such delivery in book-entry form.

    

    

    
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    (ii)           On the date of any closing of the option to purchase additional units, if any, in connection with the
        Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company (each such date, an “Option Closing Date”, and each Option Closing Date (if any) and the IPO Closing Date, a “Closing Date”), the Company
        shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, up to 400,000 Private Placement Warrants (or, to the extent the option to purchase additional units is not exercised in full, a lesser number of Private
        Placement Warrants in proportion to portion of the option that is exercised) at a price of $1.50 per Private Placement Warrant for an aggregate purchase price of up to $600,000 (the “Option Purchase Price”). The Purchaser shall pay the Option
        Purchase Price in accordance with the Company's wire instruction by wire transfer of immediately available funds to the Trust Account, at least one (1) business day prior to any Option Closing Date. On each Option Closing Date (if any), subject to
        the receipt of funds pursuant to the immediately prior sentence, the Company shall, at its option, deliver a certificate evidencing the Private Placement Warrants purchased on such date duly registered in the Purchaser's name to the Purchaser or
        effect such delivery in book-entry form.

    

    

    C.           Terms of the Private Placement Warrants.

    

    

    (i)            Each Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered into
        by the Company and a warrant agent on the Closing Date, in connection with the Public Offering (the “Warrant Agreement”).

    

    

    (ii)           On the Closing Date, the Company and the Purchaser shall enter into a registration and shareholder rights
        agreement (the “Registration and Shareholder Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser relating to the Private Placement
        Warrants and the Shares underlying the Private Placement Warrants.

    

    

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

    

    

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

    

    

    
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    B.           Authorization; No Breach.

    

    

    (i)            The execution, delivery and performance of this Agreement and the Private Placement Warrants have been
        duly authorized by the Company as of the Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization,
        moratorium and other laws of general applicability relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law). Upon issuance in accordance with, and payment pursuant to, the
        terms of the Warrant Agreement and this Agreement, the Private Placement Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing Date.

    

    

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

    

    

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

    

    

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

    

    

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

    

    

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

    

    

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

    

    

    B.           Authorization; No Breach.

    

    

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

    

    

    (ii)           The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with
        the terms hereof by the Purchaser does not and shall not as of the Closing Date (a) conflict with or result in a breach by the Purchaser of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any
        lien, security interest, charge or encumbrance upon the Purchaser’s equity or assets under, (d) result in a violation of, or (e) require authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any
        court or administrative or governmental body or agency pursuant to the Purchaser’s organizational documents in effect on the date hereof or as may be amended prior to completion of the contemplated Public Offering, or any material law, statute,
        rule or regulation to which the Purchaser is subject, or any agreement, instrument, order, judgment or decree to which the Purchaser is subject, except for any filings required after the date hereof under federal or state securities laws.

    

    

    C.           Investment Representations.

    

    

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

    

    

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

    

    

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

    

    

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

    

    

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

    

    

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

    

    

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

    

    

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

    

    

    (ix)          The Purchaser understands that the Private Placement Warrants shall bear the legend substantially in the
        form set forth in the Warrant Agreement.

    

    

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

    

    

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

    

    

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

    

    

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

    

    

    D.           Warrant Agreement and Registration and Shareholder Rights Agreement. The Company shall have entered
        into the Warrant Agreement, in the form of Exhibit A hereto, and the Registration and Shareholder Rights Agreement, in the form of Exhibit B hereto, in each case on terms satisfactory to the Purchaser.

    

    

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

    

    

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

    

    

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

    

    

    C.           Corporate Consents. The Company shall have obtained the consent of its Board of Directors
        authorizing the execution, delivery and performance of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants hereunder.

    

    

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

    

    

    E.           Warrant Agreement. The Company shall have entered into the Warrant Agreement.

    

    

    
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    Section 6.              Miscellaneous.

    

    

    A.           Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements
        contained in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so expressed or not. Notwithstanding the foregoing or anything to the contrary
        herein, the parties may not assign this Agreement, other than assignments by the Purchaser to affiliates thereof (including, without limitation one or more of its members).

    

    

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

    

    

    C.           Counterparts. This Agreement may be executed simultaneously in two or more counterparts, none of
        which need contain the signatures of more than one party, but all such counterparts taken together shall constitute one and the same agreement. Signatures to this Agreement transmitted via facsimile or e-mail shall be valid and effective to bind
        the party so signing.

    

    

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

    

    

    E.           Governing Law. This Agreement shall be deemed to be a contract made under the laws of the State of
        New York and for all purposes shall be construed in accordance with the internal laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the laws of another jurisdiction.

    

    

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

    

    

    [Signature page follows]

    

    

    
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    IN WITNESS WHEREOF, the parties hereto have executed this Agreement.

    

    

    	 	
            COMPANY:

          
	 	 	 	 
	 	
            TWIN RIDGE CAPITAL ACQUISITION CORP.

          
	 	 	 	 
	 	
            By:

          	
            /s/ Sanjay Morey

          
	 	 	
            Name:

          	
            Sanjay Morey

          
	 	 	
            Title:

          	
            Co-Chief Executive Officer

          

    

       

    	 	
            PURCHASER:

          
	 	 	 	 
	 	
            TWIN RIDGE CAPITAL SPONSOR, LLC

          
	 	 	 	 
	 	
            By:

          	
            /s/ Sanjay Morey

          
	 	 	
            Name:

          	
            Sanjay Morey

          
	 	 	
            Title:

          	
            Manager

          

    

    

    [SIGNATURE PAGE TO PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT]

    

    

    
      
        

    

    EXHIBIT A

    

    

    Warrant Agreement

    

    
    
      
        

    

    EXHIBIT B

    

    

    Registration and Shareholder Rights AgreementExhibit 10.2

  

  

  

  
    INVESTMENT MANAGEMENT TRUST AGREEMENT

     

    This Investment Management Trust Agreement (this “Agreement”) is made effective as of March 8, 2021, by and between Twin Ridge Capital Acquisition Corp. 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. 333-252363 (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 (the “Ordinary Shares”), 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 Barclays Capital Inc. and Evercore Group L.L.C., the
      underwriters (the “Underwriters”) named therein; and

     

    WHEREAS, as described in the Prospectus, $200,000,000 of the gross proceeds of the Offering and sale of the Private Placement Warrants (as defined in the Underwriting Agreement) (or $230,000,000 if the Underwriter’s
      option to purchase additional units 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 the 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 $7,000,000, or $8,050,500 if the Underwriter’s option to purchase additional units is exercised in full, is attributable to deferred
      underwriting discounts and commissions that will be payable by the Company to the Underwriter upon 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 in the United States
      at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets of $100 billion or more) in the United States, maintained by Trustee 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 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 (or any successor rule), which invest only in direct U.S. government treasury obligations, as determined by the Company; the Trustee may not invest in any other securities or assets, it being understood that the Trust
      Account will earn no interest while account funds are uninvested awaiting the Company’s instructions hereunder and the Trustee may earn bank credits or other consideration;

     

    
      
        

    

    
    (d)          Collect and receive, when due, all principal, 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 the Underwriter 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 the tax
      returns relating to assets held in the Trust Account;

     

    (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, as applicable, signed on behalf of the Company by its Chief
      Executive Officer, Chief Financial Officer or other authorized officer of the Company, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest earned on the funds held in the Trust
      Account and not previously released to the Company to pay its income taxes (less up to $100,000 of interest to pay dissolution expenses), only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date
      which is the later of (1) 24 months after the closing of the Offering and (2) 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, 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 earned on the funds held in the Trust Account and not previously released to the Company to pay its income taxes (less up to $100,000 of interest to pay dissolution expenses), 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, so long as there is no reduction in the principal amount per share initially deposited in the Trust Account; 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 (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 to the remitting brokers on behalf of Public Shareholders redeeming Ordinary Shares the amount required to pay
      redeemed Ordinary Shares from Public Shareholders pursuant to the Company’s amended and restated memorandum and articles of association; and

     

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

     

    
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    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 Chief Executive Officer, Chief Financial Officer or other authorized officer of
      the Company. In addition, except with respect to its duties under Sections 1(i), (j) or (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 expenses, including reasonable 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) through 1(k)
      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 merger, share exchange, asset acquisition, share purchase, reorganization or similar business
      combination involving the Company and one or more businesses (the “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 the Underwriter 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)          Unless otherwise agreed between the Company and the Underwriter, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a
      Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Underwriter prior to any transfer of the funds held in the Trust Account to the Company or
      any other person;

     

    (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)          If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the
      Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial
      Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”),
      the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public
      Shareholders who exercise their redemption option in connection with such Amendment; and

     

    
      3

      
        

    

    (i)          Within five (5) business days after the Underwriter exercises its option to purchase additional units (or any unexercised portion thereof) or such option to purchase
      additional units 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 third 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 written 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)          Change the investment of any Property, other than in compliance with Section 1 hereof;

     

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

     

    (f)          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;

     

    (g)          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, 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;

     

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

     

    (i)          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;

     

    (j)          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;

     

    (k)          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, income tax obligations, except pursuant to Section 1(j) hereof; or

     

    
      4

      
        

    

    (l)          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 in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies 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 by the Company and has agreed to become subject to the terms of
      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; or

     

    (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).

     

    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 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, without giving effect to conflicts of law
      principles that would result in the application of the substantive laws of another jurisdiction. This Agreement may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together shall
      constitute but one instrument.

     

    (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 properly elected to redeem his or her Ordinary Shares in connection with a shareholder vote to amend this Agreement to modify the
      substance or timing of the Company’s obligation to provide for the redemption of the Ordinary Shares in connection with an initial Business Combination or an Amendment or to redeem 100% of its Ordinary Shares if the Company does not complete its
      initial Business Combination within the time frame specified in the Company’s amended and restated memorandum and articles of association), 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.

     

    
      5

      
        

    

    (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 or by electronic mail:

     

    if to the Trustee, to:

     

    	

          	
            Continental Stock Transfer & Trust Company

          
	

          	
            1 State Street, 30th Floor

          
	

          	
            New York, New York 10004

          
	

          	
            Attn:

          	
            Francis E. Wolf, Jr. & Celeste Gonzalez

          
	

          	
            Email:

          	
            fwolf@continentalstock.com

          
	

          	

          	
            cgonzalez@continentalstock.com

          

    

    

    if to the Company, to:

     

    	

          	
            Twin Ridge Capital Acquisition Corp.

          
	

          	
            707 Menlo Avenue, Suite 110

          
	

          	
            Menlo Park, California 94025

          
	

          	
            Attn:

          	
            Sanjay Morey

          
	

          	
            Email:

          	
            smorey@twinridgecapital.com

          

    

    

    in each case, with copies to:

     

    	

          	
            Kirkland & Ellis LLP

          
	

          	
            601 Lexington Avenue

          
	

          	
            New York, New York 10022

          
	

          	
            Attn:

          	
            Peter S. Seligson

          
	

          	
            E-mail:

          	
            peter.seligson@kirkland.com

          

    and

     

    	

          	
            Barclays Capital Inc.

          
	

          	
            745 7th Avenue

          
	

          	
            New York, New York 10019

          
	

          	
            Attn:

          	
            Jaime Cohen

          
	

          	
            Email:

          	
            jaime.cohen@barclays.com

          

    

    

    and

     

    	

          	
            Evercore Group L.L.C.

          
	

          	
            55 E. 52nd St

          
	

          	
            New York, NY 10055

          
	

          	
            Attn.:

          	
            Neil Shah

          
	

          	
            Email:

          	
            neil.shah@evercore.com

          

    

    

    
      6

      
        

    

    and

     

    	

          	
            White & Case LLP

          
	

          	
            1221 Avenue of the Americas

          
	

          	
            New York, New York 10020

          
	

          	
            Attn.:

          	
            Elliot M. Smith

          
	

          	 	
            Jessica Y. Chen

          
	

          	
            Email:

          	
            elliot.smith@whitecase.com

          
	

          	 	
            jessica.chen@whitecase.com

          

    

    

    (f)          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.

     

    (g)          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.

     

    (h)          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.

     

    (i)          Each of the Company and the Trustee hereby acknowledges and agrees that the Underwriter is a third-party beneficiary of this Agreement.

     

    (j)          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]

     

    
      7

      
        

    

    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:

          	
            /s/ Francis Wolf

          
	

          	
            Name:

          	
            Francis Wolf

          
	

          	
            Title:

          	
            Vice President

          

     

    	

          	
            TWIN RIDGE CAPITAL ACQUISITION CORP.

          
	

          	

          
	

          	
            By:

          	
            /s/ Sanjay Morey

          
	

          	
            Name:

          	
            Sanjay Morey

          
	

          	
            Title:

          	
            Co-Chief Executive Officer

          

    

    

    
      
        

    

    SCHEDULE A

     

    	 	
            
              Fee Item

            

          	 	
            
              Time and method of payment

            

          	 	
            
              Amount

            

          	 
	 	
            Initial acceptance fee

          	 	
            Initial closing of IPO by wire transfer

          	 	
            $

          	
            3,500.00

          	 
	 	
            Annual fee

          	 	
            First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check

          	 	
            $

          	
            10,000.00

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

          	 	
            Billed by Trustee to Company under Section 1

          	 	
            $

          	
            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

    1 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 Twin Ridge Capital Acquisition Corp. (the “Company”) and Continental Stock
      Transfer & Trust Company (“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 business combination with 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 (the “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 trust operating account at J.P. Morgan
      Chase Bank, N.A. 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 the Underwriter (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 said trust operating account at J.P. Morgan Chase Bank, N.A. awaiting distribution, neither the Company nor the Underwriter will earn
      any interest or dividends.

     

    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 the Chief Executive Officer, Chief Financial Officer or
      other authorized officer of the Company, 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 Underwriter 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.

     

    
      A-1

      
        

    

    
    

    

    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 such notice as soon thereafter as possible.

     

    	

          	
            Very truly yours,

          
	

          	

          
	

          	
            Twin Ridge Capital Acquisition Corp.

          
	

          	

          
	

          	
            By:

          	

          
	

          	
            Name:

          	

          
	

          	
            Title:

          	

          

     

    	cc:	
            Barclays Capital Inc.; Evercore Group L.L.C.

          

     

    
      A-2

      
        

    

    
    EXHIBIT B

     

    [Letterhead of Company]

     

    [Insert Date]

     

    Continental Stock Transfer & Trust Company

    1 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 Twin Ridge Capital Acquisition Corp. (the “Company”) and Continental Stock
      Transfer & Trust Company (the “Trustee”), [•], 2021 (the “Trust Agreement”), this is to advise you that the Company has been
      unable to effect a 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 J.P. Morgan Chase
      Bank, N.A. to await distribution to the Public Shareholders. The Company has selected [•], 20[•] as the effective date for the purpose of determining when the Public Shareholders will be entitled to receive their share of the liquidation proceeds. It
      is acknowledged that no interest will be earned by the Company on the liquidation proceeds while on deposit in the trust operating account. 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, net of any
      payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, 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,

          
	 	 
	 	
            Twin Ridge Capital Acquisition Corp.

          
	 	 
	 	
            By:

          	

          
	 	
            Name:

          	 
	 	
            Title:

          	 

    

    

    	cc:	
            Barclays Capital Inc.; Evercore Group L.L.C.

          

     

    

    
      B-1

      
        

    

    
    EXHIBIT C

     

    [Letterhead of Company]

     

    [Insert Date]

     

    Continental Stock Transfer & Trust Company

    1 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 Twin Ridge Capital Acquisition Corp. (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,

          
	

          	 
	

          	
            Twin Ridge Capital Acquisition Corp.

          
	

          	 
	

          	
            By:

          	

          
	

          	
            Name:

          	

          
	

          	
            Title:

          	

          

    

    

    	cc:	
            Barclays Capital Inc.; Evercore Group L.L.C.

          

     

    

    
      C-1

      
        

    

    EXHIBIT D

     

    

    [Letterhead of Company]

     

    [Insert Date]

     

    Continental Stock Transfer & Trust Company

    1 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 Twin Ridge Capital Acquisition Corp. (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’s shareholders $[•] 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.

     

    Pursuant to Section 1(k) of the Trust Agreement, this is to advise you that the Company has sought an Amendment. Accordingly, in accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate a
      sufficient portion of the Trust Account and to transfer $[•] of the proceeds of the Trust Account to the trust operating account at J.P. Morgan Chase Bank, N.A. for distribution to the shareholders that have requested redemption of their shares in
      connection with such Amendment.

     

    	

          	
            Very truly yours,

          
	

          	

          
	

          	
            Twin Ridge Capital Acquisition Corp.

          
	

          	

          
	

          	
            By:

          	

          
	

          	
            Name:

          	

          
	

          	
            Title:

          	

          

     

    	cc:	
            Barclays Capital Inc.; Evercore Group L.L.C.

          

      

    

     

    

    D-1

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