Document:

Exhibit 10.1

 

December
12, 2018

 

CF
Finance Acquisition Corp. 

110
East 59th Street 

New
York, NY 10022

 

	Re:	Initial
    Public Offering 

 

Ladies
and Gentlemen:

 

This
letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement
(the “Underwriting Agreement”) entered into by and among CF Finance Acquisition Corp., a Delaware corporation
(the “Company”), and Cantor Fitzgerald & Co. as representative (the “Representative”)
of the several underwriters (each, an “Underwriter” and collectively, the “Underwriters”),
relating to an underwritten initial public offering (the “Public Offering”), of 28,750,000 of the Company’s
units (including up to 3,750,000 units that may be purchased to cover over-allotments, if any) (the “Units”),
each comprised of one share of the Company’s Class A common stock, par value $0.0001 per share (the “Common
Stock”), and three-quarters of one redeemable warrant. Each whole Warrant (each, a “Warrant”)
entitles the holder thereof to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment. The Units
will be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”)
filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”) and the Company
has applied to have the Units listed on The Nasdaq Capital Market. Certain capitalized terms used herein are defined in paragraph
12 hereof.

 

In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of CF Finance
Holdings LLC (the “Sponsor”) and the undersigned individuals, each of whom is a member of the Company’s
board of directors and/or management team (each, an “Insider” and collectively, the “Insiders”),
hereby agrees with the Company as follows:

 

	 	1.	The
    Sponsor and each Insider agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in
    connection with such proposed Business Combination, it, he or she shall (i) vote any shares of Capital Stock (including shares
    of Common Stock underlying the Private Placement Units) owned by it, him or her in favor of any proposed Business Combination
    and (ii) not redeem any shares of Common Stock owned by it, him or her in connection with such stockholder approval.

 

	 	2.	The
    Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within
    18 months from the closing of the Public Offering, or such later period approved by the Company’s stockholders in accordance
    with the Company’s amended and restated certificate of incorporation (the “Charter”), the
    Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose
    of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully
    available funds therefor, redeem 100% of the Common Stock sold as part of the Units in the Public Offering (the “Offering
    Shares”), at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust
    Account, including interest earned on the funds held in the Trust Account (net of taxes), less up to $100,000 of interest
    to pay dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption will completely
    extinguish all Public Stockholders’ rights as stockholders (including the right to receive further liquidating distributions,
    if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the
    approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate,
    subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and other requirements
    of applicable law. The Sponsor and each Insider agrees to not propose any amendment to the Charter (i) to modify the substance
    or timing of the Company’s obligation to redeem 100% of the Offering Shares if the Company does not complete a Business
    Combination within 18 months from the closing of the Public Offering or (ii) with respect to any other provision relating
    to stockholders’ rights or pre-business combination activity, unless the Company provides its public stockholders with
    the opportunity to redeem their shares of Common Stock upon approval of any such amendment at a per-share price, payable in
    cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the
    Trust Account (net of taxes), divided by the number of then outstanding Offering Shares.

 

     

     

    

 

	 	 	The
    Sponsor and each Insider acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies
    held in the Trust Account as a result of any liquidation of the Company with respect to the Founder Shares or shares of Common
    Stock underlying the Private Placement Units held by it, him or her. The Sponsor and each Insider hereby further waives, with
    respect to any shares of Common Stock held by it, him or her, if any, any redemption rights it, he or she may have in connection
    with the consummation of a Business Combination, including, without limitation, any such rights available in the context of
    a stockholder vote to approve such Business Combination or a stockholder vote to approve an amendment to the Charter to modify
    the substance or timing of the Company’s obligation to redeem 100% of the Offering Shares if the Company has not consummated
    a Business Combination within the time period set forth in the Charter or in the context of a tender offer made by the Company
    to purchase shares of Common Stock (although the Sponsor, the Insiders and their respective current or future affiliates shall
    be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold if the Company fails
    to consummate a Business Combination within 18 months from the date of the closing of the Public Offering).

 

	 	3.	(a)
    During the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, other
    than to permitted transferees as described in paragraph 7(c) below, the Sponsor and each Insider shall not, without the prior
    written consent of the Representatives, (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any
    option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a put
    equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities
    Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the Commission
    promulgated thereunder, with respect to any Units, shares of Common Stock, Founder Shares, Warrants or any securities convertible
    into, or exercisable, or exchangeable for, shares of Common Stock owned by it, him or her, (ii) enter into any swap or other
    arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Units, shares
    of Common Stock, Founder Shares, Warrants or any securities convertible into, or exercisable, or exchangeable for, shares
    of Common Stock owned by it, him or her, whether any such transaction is to be settled by delivery of such securities, in
    cash or otherwise, or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii). Each
    of the Insiders and the Sponsor acknowledges and agrees that, prior to the effective date of any release or waiver, of the
    restrictions set forth in this paragraph 3 or paragraph 7 below, the Company shall announce the impending release or waiver
    by press release through a major news service at least two business days before the effective date of the release or waiver.
    Any release or waiver granted shall only be effective two business days after the publication date of such press release.
    The provisions of this paragraph will not apply if the release or waiver is effected solely to permit a transfer not for consideration
    and the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and
    for the duration that such terms remain in effect at the time of the transfer. If a discretionary waiver, release or termination
    of any of the Founder Share restrictions (each, a “Lock-Up Waiver”) applicable to any party subject to a lock-up
    agreement is granted, other than to the Company (each, a “Lock-Up Party”), then a substantively identical Lock-Up
    Waiver shall be deemed to apply to each of the undersigned’s Founder Shares on a pro rata basis based on the portion
    of the Lock-Up Parties’ Founder Shares that were granted the Lock-Up Waiver; provided that such pro rata waiver, release
    or termination shall be in the same manner and on the same terms (including with respect to any conditions or provisos that
    apply to such waiver or termination) from such restriction.

 

	 	 	(b)
    The Sponsor shall not sell, transfer, assign, pledge or hypothecate any of its Private Placement Units or securities issuable
    pursuant to the Forward Purchase Contract (or component securities) or shares of Common Stock issuable upon the exercise of
    the warrants underlying the Private Placement Units or units issuable pursuant to the Forward Purchase Contract, or subject
    any of such securities to any hedging, short sale, derivative, put, or call transaction that would result in the effective
    economic disposition of such securities, except as provided in FINRA Rule 5110(g)(2).

 

     

     

    

 

	 	4.	In
    the event of the liquidation of the Trust Account upon the failure of the Company to consummate its initial Business Combination
    within the time period set forth in the Charter, the Sponsor (the “Indemnitor”) agrees to indemnify
    and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not
    limited to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation,
    whether pending or threatened) to which the Company may become subject as a result of any claim by (i) any third party for
    services rendered or products sold to the Company or (ii) any prospective target business with which the Company has entered
    into a written letter of intent, confidentiality or other similar agreement or Business Combination agreement (a “Target”);
    provided, however, that such indemnification of the Company by the Indemnitor shall (x) apply only to the extent
    necessary to ensure that such claims by a third party or a Target do not reduce the amount of funds in the Trust Account to
    below the lesser of (i) $10.10 per Offering Share and (ii) the actual amount per Offering Share held in the Trust Account
    as of the date of the liquidation of the Trust Account, if less than $10.10 per Offering Share is then held in the Trust Account
    due to reductions in the value of the trust assets (net of taxes), (y) shall not apply to any claims by a third party or a
    Target which executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is
    enforceable) and (z) shall not apply to any claims under the Company’s indemnity of the Underwriters against certain
    liabilities, including liabilities under the Securities Act of 1933, as amended. The Indemnitor shall have the right to defend
    against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 30 days following written
    receipt of notice of the claim to the Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake such
    defense.

 

	 	5.	To
    the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 3,750,000 Units
    within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit,
    at no cost, a number of Founder Shares in the aggregate equal to 937,500 multiplied by a fraction, (i) the numerator of which
    is 3,750,000 minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and
    (ii) the denominator of which is 3,750,000. The forfeiture will be adjusted to the extent that the over-allotment option is
    not exercised in full by the Underwriters so that the Initial Stockholders will own an aggregate of 20.0% of the Company’s
    issued and outstanding shares of Capital Stock after the Public Offering (not including the shares underlying the Private
    Placement Units). For purposes of clarification, nothing in this paragraph will impact the number of shares of Class A Common
    Stock purchased by the Sponsor as part of the Forward Purchase Contract (as defined below).

 

	 	6.	(a)
    Each Insider that is an officer of the Company hereby agrees not to participate (other than the participation of an affiliate
    of the Company as an underwriter) in the formation of, or become an officer or director of, any other special purpose acquisition
    company (in the case of Henrique de Castro, a special purpose acquisition company focused on acquiring target companies in
    the financial or real estate services industries) with a class of securities registered under the Exchange Act until the Company
    has entered into a definitive agreement regarding an initial Business Combination or unless the Company has failed to complete
    a Business Combination within the time period set forth in the Charter.

 

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

 

     

     

    

 

	 	7.	(a)
    The Sponsor and each Insider agrees that it, he or she shall not Transfer any Founder Shares or any of the 750,000 shares
    of Common Stock issuable pursuant to the Forward Contract (or shares of Common Stock issuable upon conversion thereof) until
    the earlier of (A) one year after the completion of the Company’s initial Business Combination and (B) subsequent to
    the Business Combination, (x) if the last reported sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted
    for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading
    day period commencing at least 150 days after the Company’s initial Business Combination or (y) the date on which the
    Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results
    in all of the Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities
    or other property (the “Founder Shares Lock-up Period”).

 

	 	 	(b)
    The Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Placement Units or any of the 3,000,000
    units issuable pursuant to the Forward Contract (or component securities or shares of Common Stock issuable upon the exercise
    of the warrants underlying the Private Placement Units), until 30 days after the completion of a Business Combination (the
    “Private Placement Units Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up
    Periods”).

 

	 	 	(c)
    Notwithstanding the provisions set forth in paragraphs 7(a) and (b), Transfers of the Founder Shares, Private Placement Units
    or securities issuable pursuant to the Forward Purchase Contract (or component securities or shares of Common Stock issuable
    upon the exercise of the warrants underlying the Private Placement Units or units issuable pursuant to the Forward Purchase
    Contract) that are held by the Sponsor, any Insider or any of their permitted transferees (that have complied with this paragraph
    7(c)), are permitted (a) to the Company’s officers or directors, any current or future affiliate or family member of
    any of the Company’s officers or directors or any current or future affiliate of the Sponsor or to any member(s), officers,
    directors or employees of the Sponsor or any of its current or future affiliates; (b) in the case of an individual, by gift
    to a member of such individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s
    immediate family, any current or future affiliate of such individual or to a charitable organization; (c) in the case of an
    individual, by virtue of laws of descent and distribution upon death of such individual; (d) in the case of an individual,
    pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with any forward purchase
    agreement or similar arrangement or in connection with the consummation of an initial Business Combination at prices no greater
    than the price at which the shares or units were originally purchased; (f) in the event of the Company’s liquidation
    prior to the completion of an initial Business Combination or (g) by virtue of the laws of the State of Delaware or the Sponsor’s
    limited liability company agreement upon dissolution of the Sponsor; provided, however, that in the case of
    clauses (a) through (e) or (g), these permitted transferees must enter into a written agreement with the Company agreeing
    to be bound by the transfer restrictions herein.

 

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

 

	 	9.	The
    Sponsor has entered into a forward purchase contract (the “Forward Purchase Contract”) to purchase
    at least 3,000,000 Units and 750,000 shares of Common Stock at a price per Unit of $10.00 per Unit, in a transaction exempt
    from the registration requirements of the Securities Act (the “Private Placement”). The Private
    Placement will be completed concurrently with the completion of the initial Business Combination. Neither the Company nor
    the Sponsor may waive the obligation of the undersigned to complete the Private Placement in accordance with this Section
    9 pursuant to the terms of the Forward Purchase Contract.

 

     

     

    

 

	 	10.	Except
    as disclosed in the Prospectus, neither the Sponsor nor any officer, nor any current or future affiliate of the Sponsor or
    any officer, nor any director of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting
    fee, monies in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered
    in order to effectuate, the consummation of the Company’s initial Business Combination (regardless of the type of transaction
    that it is), other than the following, none of which will be made from the proceeds held in the Trust Account prior to the
    completion of the initial Business Combination: repayment of a loan and advances up to an aggregate of $300,000 made to the
    Company by the Sponsor; payment of $25,000 quarterly to each of the Company’s independent directors (including directors
    to be appointed following the consummation of the Public Offering) for services rendered as board members; reimbursement for
    any reasonable out-of-pocket expenses related to identifying, investigating and consummating an initial Business Combination;
    repayment of loans, including the $750,000 loan commitment made by the Sponsor for working capital, on such terms as to be
    determined by the Company from time to time, made by the Sponsor or any of the Company’s officers or directors to finance
    transaction costs in connection with an intended initial Business Combination, provided, that, if the Company does not consummate
    an initial Business Combination, a portion of the working capital held outside the Trust Account may be used by the Company
    to repay such loaned amounts so long as no proceeds from the Trust Account are used for such repayment; payment to the Representative
    of its underwriting discount, marketing fee (pursuant to the Business Combination Marketing Agreement, dated as of the date
    hereof, by and between the Company and the Representative), fees for any financial advisory, placement agency or other similar
    investment banking services the Representative may provide to the Company in the future, and reimbursement of the Representative
    for any out-of-pocket expenses incurred by it in connection with the performance of such services; and repayment of the loan
    to be made by the Sponsor in an amount up to $2,875,000 (the “Sponsor Loan”) but only in the event
    the Company consummates the Business Combination. Up to $1,500,000 of such loans (not including the Sponsor Loan) may be convertible
    into warrants at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the warrants
    underlying the Private Placement Units, including as to exercise price, exercisability and exercise period.

 

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

 

	 	12.	As
    used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition,
    stock purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Capital
    Stock” shall mean, collectively, the Common Stock and the Founder Shares; (iii) “Founder Shares”
    shall mean (a) the 7,187,500 shares of the Company’s Class B common stock, par value $0.0001 per share, initially issued
    to the Sponsor (up to 937,500 Shares of which are subject to complete or partial forfeiture by the Sponsor if the over-allotment
    option is not exercised by the Underwriters) for an aggregate purchase price of $50,383, or approximately $0.007 per share,
    prior to the consummation of the Public Offering; (iv) “Initial Stockholders” shall mean the Sponsor
    and any Insider that holds Founder Shares; (v) “Private Placement Units” shall mean the 600,000
    units, each unit consisting of one share of Common Stock and three-quarters of one warrant to purchase one share of Common
    Stock that the Sponsor has agreed to purchase for an aggregate purchase price of $6,000,000, or $10.00 per unit, in a private
    placement that shall occur simultaneously with the consummation of the Public Offering; (vi) “Public Stockholders”
    shall mean the holders of securities issued in the Public Offering; (vii) “Trust Account” shall
    mean the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited; and (viii) “Transfer”
    shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
    or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent
    position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the
    Exchange Act and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry
    into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
    of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c)
    public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

     

     

    

 

	 	13.	The
    Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance in
    an amount and type that is appropriate for a blank check company such as the Company, and each Director shall be covered by
    such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any of
    the Company’s directors or officers.

 

	 	14.	This
    Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
    hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or
    oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter
    Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular
    provision, except by a written instrument executed by all parties hereto except any waiver need only be executed by the party
    waiving its rights hereunder.

 

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

 

	 	16.	Nothing
    in this Letter Agreement shall be construed to confer upon, or give to, any person or entity other than the parties hereto,
    any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise
    or agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall
    be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns
    and permitted transferees.

 

	 	17.	This
    Letter Agreement may be executed in any number of original or facsimile or other electronic 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.

 

	 	18.	This
    Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not
    affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu
    of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this
    Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid
    and enforceable.

 

	 	19.	This
    Letter 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) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to,
    this Letter Agreement shall be brought and enforced in the federal or state courts of New York City, in the State of New York,
    and irrevocably submit to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any
    objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum.

 

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

 

	 	21.	This
    Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the
    Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not
    consummated and closed by March 31, 2019; provided further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

[Signature
Page Follows]

 

     

     

    

 

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

 

	 	By:	 /s/
    Howard W. Lutnick
	 	 	Name: Howard W. Lutnick
	 	 	 
	 	By:	 /s/
    Anshu Jain
	 	 	Name: Anshu Jain
	 	 	 
	 	By:	/s/ Henrique
    de Castro 
	 	 	Name: Henrique de Castro
	 	 	 
	 	By:	 /s/
    Steven Bisgay
	 	 	Name: Steven Bisgay
	 	 	 
	 	By:	 /s/
    Stephen M. Merkel
	 	 	Name: Stephen M. Merkel
	 	 	 
	 	By:	 /s/
    Peter J. Worth
	 	 	Name: Peter J. Worth

 

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

 

[Signature
Page to Letter Agreement – CF Finance Acquisition Corp. (Insider Letter)]Exhibit 10.2

 

INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

This
Investment Management Trust Agreement (this “Agreement”) is made effective as of December 12, 2018,
by and between CF Finance Acquisition Corp., a Delaware corporation (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. 333-228420 (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 share of the Company’s Class A common stock, par
value $0.0001 per share (the “Common Stock”), and three-quarters of one redeemable warrant, each whole
warrant entitling the holder thereof to purchase one share of Common Stock (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 Cantor Fitzgerald & Co. as representative (the “Representative”) of the several underwriters
(the “Underwriters”) named therein; and

 

WHEREAS,
as described in the Prospectus, $252,500,000 of the gross proceeds of the Offering, sale of the Private Placement Units (as defined
in the Underwriting Agreement) and a loan from CF Finance Holdings LLC (the “Sponsor”) (or $290,375,000,
if the Underwriters’ over-allotment option is exercised in full) will be delivered to the Trustee to be deposited and held
in a segregated trust account located at all times in the United States (the “Trust Account”)
for the benefit of the Company and the holders of the Common Stock 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 stockholders for whose benefit the Trustee shall hold the Property will be referred
to as the “Public Stockholders,” and the Public Stockholders and the Company will
be referred to together as the “Beneficiaries”); 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. and at a brokerage institution selected by the Trustee that
is reasonably satisfactory to the Company;

 

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

 

(c)
In a timely manner, upon the written instruction of the Company, invest and reinvest the Property solely in United States government
securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of
180 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; 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 and other consideration.

 

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

 

(e)
Promptly notify the Company and the Representative 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, President, Executive Vice President, Vice President,
Secretary or Chairman of the board of directors of the Company (the “Board”) or other authorized officer
of the Company (and, in the case of Exhibit A, jointly signed by the Representative), and complete the liquidation
of the Trust Account and distribute the Property in the Trust Account, including interest (net of taxes, less up to $100,000 of
interest that may be released to the Company 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) 18 months after the closing of the Offering
and (2) such later date as may be approved by the Company’s stockholders in accordance with the Company’s amended
and restated certificate of incorporation 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 (net of taxes, less up to $100,000
of interest that may be released to the Company to pay dissolution expenses) shall be distributed to the Public Stockholders of
record as of such date; and provided, however, that in the event the Trustee receives a Termination
Letter in a form substantially similar to Exhibit B hereto, or if the Trustee begins to liquidate the Property
because it has received no such Termination Letter by the date specified in clause (y) of this Section 1(i), the Trustee
shall keep the Trust Account open until twelve (12) months following the date the Property has been distributed to the Public
Stockholders.

 

(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, withdraw from the Trust Account and distribute to the Company the amount of interest earned on the Property
requested by the Company to cover any tax obligation owed by the Company as a result of assets of the Company or interest or other
income earned on the Property, which amount shall be delivered directly to the Company by electronic funds transfer or other method
of prompt payment, and the Company shall forward such payment to the relevant taxing authority; provided, however,
that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such
assets held in the Trust Account as shall be designated by the Company in writing to make such distribution, so long as there
is no reduction in the principal amount initially deposited in the Trust Account; provided, further, that
if the tax to be paid is a franchise tax, the written request by the Company to make such distribution shall be accompanied by
a copy of the franchise tax bill from the State of Delaware for the Company and a written statement from the principal financial
officer of the Company setting forth the actual amount payable (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, the Trustee shall distribute (from a segregated account) on behalf of the Company to the Public Stockholders
of record as of such date the amount requested by the Company to be used to redeem shares of Common Stock from Public Stockholders
properly submitted in connection with a stockholder vote to approve an amendment to the Company’s amended and restated certificate
of incorporation to modify the substance or timing of the Company’s obligation to redeem 100% of its public shares of Common
Stock if the Company has not consummated an initial Business Combination (as defined below) within such time as is described in
the Company’s amended and restated certificate of incorporation. The written request of the Company referenced above shall
constitute presumptive evidence that the Company is entitled to distribute said funds, and the Trustee shall have no responsibility
to look beyond said request; and 

 

     

     

    

   

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

 

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

 

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

 

(b)
Subject to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and
all out-of-pocket expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in
connection with any action taken by it as permitted 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 any
expenses and losses arising out of, in connection with or 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 or delayed. 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 or delayed. 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 as agreed 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 a Business Combination is consummated.
The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the
Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period
after the liquidation of the Trust Account or after the removal or withdrawal of the Trustee in accordance with this Agreement.
The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(c), Schedule
A and as may be provided in Section 2(b) hereof;

 

(d)
In connection with any vote of the Company’s stockholders regarding a merger, capital stock exchange, asset acquisition,
stock 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 stockholder meeting verifying the vote
of such stockholders regarding such Business Combination;

 

(e)
Provide the Representative 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; and

 

 (f)
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.

 

     

     

    

 

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, in connection with or resulting from the Trustee’s
gross negligence, fraud, or willful misconduct;

 

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

 

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

 

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

 

(f)
The Company 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 in accordance with this Agreement, 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;

 

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

 

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

 

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

 

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

 

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

 

4. Trust
Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies 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 for any reason whatsoever. 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 and the Trustee hereby agrees not to seek recourse, reimbursement, payment or satisfaction
of any Claim against the Trust Account.

 

     

     

    

 

5. Termination. This
Agreement shall terminate as follows:

 

(a)
If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable
efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such
time that the Company notifies the Trustee that a successor trustee has been appointed and has agreed to become subject to the
terms of this Agreement, 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 located in the Borough of Manhattan 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 with
respect to any liability arising after such time; 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 (which section may not be amended under any circumstances) and distributed the Property
in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 2(b).

 

(c)
If the Offering is not consummated within ten (10) business days of the date of this Agreement, in which case any funds received
by the Trustee from the Company or the Sponsor, as applicable, shall be returned promptly following the receipt by the Trustee
of written instructions from the Company.

 

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 as promptly as practicable
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, in connection with or resulting from 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. 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.

 

(c)
This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof.
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; provided, that an amendment to Section 1(i) shall also require the consent
of the Representative.

 

     

     

    

  

(d)
This Agreement or any provision hereof may only be changed, amended or modified pursuant to Section 6(c) hereof
with the Consent of the Stockholders. For purposes of this Section 6(d), the “Consent of the Stockholders”
means receipt by the Trustee of a certificate from the inspector of elections of the stockholder meeting certifying that the Company’s
stockholders of record as of a record date established in accordance with Section 213(a) of the Delaware General Corporation
Law, as amended (“DGCL”) (or any successor rule), who hold sixty-five percent (65%) or more of all then
outstanding shares of the Common Stock and Class B common stock, par value $0.0001 per share, of the Company voting together
as a single class, have voted in favor of such change, amendment or modification. No such amendment will affect any Public Stockholder
who has otherwise indicated his election to redeem his shares of Common Stock in connection with a stockholder vote sought to
amend this Agreement to modify the substance or timing of the Company’s obligation to redeem 100% of the Common Stock if
the Company does not complete its initial Business Combination within the time frame specified in the Company’s amended
and restated certificate of incorporation. Except for any liability arising out of, in connection with or resulting from the Trustee’s
gross negligence, fraud or willful misconduct, the Trustee may rely conclusively on the certification from the inspector or elections
referenced above and shall be relieved of all liability to any party for executing the proposed amendment in reliance thereon. 

 

(e)
No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement, and no course of dealing
between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single or partial exercise
of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance of steps to enforce
any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other
right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of such
party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement shall
entitle the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or
constitute a waiver of the rights of the party giving such notice or demand to any other or further action in any circumstances
without such notice or demand.

 

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

 

if
to the Trustee, to:

 

Continental
Stock Transfer & Trust Company

1
State Street, 30th Floor

New
York, NY 10004

Attn: 
Francis Wolf and Celeste Gonzalez

Email:
fwolf@continentalstock.com

Email:
cgonzales@continentalstock.com

 

if
to the Company, to:

 

CF
Finance Acquisition Corp.

110
East 59th Street

New
York, NY 10022

Attn:
Howard W. Lutnick

 

in
each case, with copies to:

 

Ellenoff
Grossman & Schole LLP

1345
Avenue of the Americas

New
York, NY 10105

Attn:
Stuart Neuhauser, Esq.

Email:
sneuhauser@egsllp.com

 

and

 

     

     

    

 

Cantor
Fitzgerald & Co. 

110
East 59th St #4

New
York, NY 10022

Attn: General
Counsel

Fax
No.: (212) 829-4708

 

and

 

Skadden,
Arps, Slate, Meagher & Flom LLP

300
South Grand Avenue, Suite 3400

Los
Angeles, CA 90071

Attn:
Gregg A. Noel, Esq.

Email:
Gregg.Noel@skadden.com

 

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

 

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

 

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

 

(j)
Each of the Company and the Trustee hereby acknowledges and agrees that Cantor Fitzgerald & Co. on behalf of the Underwriters
is a third party beneficiary of this Agreement.

 

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

 

[Signature
Page Follows]

 

     

     

    

 

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

 

	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY,
    as Trustee
	 	 	 
	 	By:	 /s/
    Francis E. Wolf, Jr.
	 	 	Name: Francis E. Wolf, Jr.
	 	 	Title: Vice President
	 	 	 
	 	CF
    FINANCE ACQUISITION CORP.
	 	 	 
	 	By:	 /s/
    Howard W. Lutnick
	 	 	Name: Howard W. Lutnick
	 	 	Title:   Chairman and Chief Executive
    Officer

 

[Signature
Page to Investment Management Trust Agreement]

 

     

     

    

  

 

SCHEDULE
A 

 

	Fee
    Item	 	Time and method of payment	 	Amount	 
	Initial
    set-up fee.	 	Initial
    closing of Offering by wire transfer.	 	$	3,500	 
	Trustee
    administration fee	 	Payable annually.
    First year fee payable, at initial closing of Offering by wire transfer, thereafter by wire transfer or check.	 	$	10,000	 
	Transaction
    processing fee for disbursements to Company under Sections 1(i) and (j)	 	Deduction by
    Trustee from accumulated income following disbursement made to Company under Section 1	 	$	250	 
	Paying
    Agent services as required pursuant to Section 1(i) or (k)	 	Billed to Company upon delivery of service pursuant
    to Section 1(i) or (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 and Celeste Gonzalez

 

	 	Re:	Trust
    Account No.      Termination Letter

Ladies
and Gentlemen:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between CF Finance Acquisition Corp. (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of [______], 2018
(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 forty-eight (48) hours in advance of the actual date
(or such shorter time 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 on [insert date], and to transfer the proceeds to a segregated account held by you on behalf of the Beneficiaries 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 Company shall direct on the Consummation Date. It is acknowledged and agreed that while
the funds are on deposit in the trust operating account at J.P. Morgan Chase Bank, N.A. awaiting distribution, the Company will
not 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, which verifies that the Business Combination has been approved by a vote of the Company’s
stockholders, if a vote is held and (b) a joint written instruction signed by the Company and the Representative with respect
to the transfer of the funds held in the Trust Account, including payment of amounts owed to public stockholders who have properly
exercised their redemption rights (the “Instruction Letter”). You are hereby
directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification and
the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in
the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company in writing of the
same and the Company shall direct you as to whether such funds should remain in the Trust Account and be distributed after the
Consummation Date to the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed
expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated.

 

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

 

[signature
page follows]

 

     

     

    

 

	 	Very truly yours,
	 	 
	 	CF FINANCE ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Agreed
to and acknowledged by:

 

CANTOR
FITZGERALD & CO.

	 	 
	Name:
	Title:
	 

     

     

    

 

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 and Celeste Gonzalez

 

	 	Re:	Trust
    Account No.      Termination Letter

 

Ladies
and Gentlemen:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between CF Finance Acquisition Corp. (the “Company”)
and Continental Stock Transfer & Trust Company (the “Paying Agent”), dated as of [______],
2018 (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 Certificate of Incorporation, 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
on             , 20     and to transfer the total
proceeds into a segregated account held by you on behalf of the Beneficiaries to await distribution to the Public Stockholders. The
Company has selected             (1) as the effective
date for the purpose of determining when the Public Stockholders will be entitled to receive their share of the liquidation proceeds. You
agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly
to the Company’s Public Stockholders in accordance with the terms of the Trust Agreement and the Amended and Restated Certificate
of Incorporation of the Company. Upon the distribution of all the funds, your obligations under the Trust Agreement shall
be terminated, except to the extent otherwise provided in Section 1(j) of the Trust Agreement.

 

	(1)	18 months from the closing
    of the Offering.

 

	 	Very truly yours,
	 	 
	 	CF Finance Acquisition Corp.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	cc:	Cantor Fitzgerald & Co.

 

     

     

    

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 and Celeste Gonzalez

 

Re: Trust
Account No.      Withdrawal Instruction

 

Ladies
and Gentlemen:

 

Pursuant
to Section 1(j) of the Investment Management Trust Agreement between CF Finance Acquisition Corp. (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of [_______], 2018
(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,
	 	 
	 	CF Finance Acquisition Corp.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	cc:	Cantor Fitzgerald & Co.

 

     

     

    

 

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 and Celeste Gonzalez

 

	Re:	Trust Account No.     
    Stockholder Redemption Withdrawal Instruction

 

Gentlemen:

 

Pursuant
to Section 1(k) of the Investment Management Trust Agreement between CF Finance Acquisition Corp. (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of [_______], 2018
(the “Trust Agreement”), the Company hereby requests that you deliver to the redeeming
Public Stockholders of the Company $         of the principal and interest income earned
on the Property as of the date hereof to a segregated account held by you on behalf of the Beneficiaries. Capitalized terms used
but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The
Company needs such funds to pay its Public Stockholders who have properly elected to have their shares of Common Stock redeemed
by the Company in connection with a stockholder vote to approve an amendment to the Company’s amended and restated certificate
of incorporation to modify the substance or timing of the Company’s obligation to redeem 100% of public shares of Common
Stock if the Company has not consummated an initial Business Combination within such time as is described in the Company’s
amended and restated certificate of incorporation. As such, you are hereby directed and authorized to transfer (via wire transfer)
such funds promptly upon your receipt of this letter to a segregated account held by you on behalf of the Beneficiaries.

 

	 	Very truly yours,
	 	 
	 	CF Finance Acquisition Corp.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	Cc:	Cantor Fitzgerald & Co.

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