Document:

Exhibit 10.4

 

CC NEUBERGER PRINCIPAL HOLDINGS II

200 Park Avenue, 58th Floor

New York, NY 10166

 

July 30, 2020

 

CC Neuberger Principal Holdings II Sponsor LLC

200 Park Avenue, 58th Floor

New York, NY 10166

 

Ladies and Gentlemen:

 

This letter will confirm our agreement that,
commencing on the effective date (the “Effective Date”) of the registration
statement (the “Registration Statement”) for the initial public offering
(the “IPO”) of the securities of CC Neuberger Principal Holdings II
(the “Company”) and continuing until the earlier of (i) the consummation
by the Company of an initial business combination and (ii) the Company’s liquidation (in each case as described in the Registration
Statement) (such earlier date hereinafter referred to as the “Termination Date”),
CC Capital Partners LLC, an affiliate of CC Neuberger Principal Holdings II Sponsor LLC (the “Sponsor”),
shall take steps directly or indirectly to make available to the Company certain office space, secretarial and administrative services
as may be required by the Company from time to time, situated at 200 Park Avenue, 58th Floor, New York, New York 10166 (or any
successor location). In exchange therefore, the Company shall pay CC Capital Partners LLC a sum of $20,000 per month on the Effective
Date and continuing monthly thereafter until the Termination Date. CC Capital Partners LLC hereby agrees that it does not have
any right, title, interest or claim of any kind (a “Claim”) in or to
any monies that may be set aside in a trust account (the “Trust Account”)
that may be established upon the consummation of the IPO and hereby irrevocably waives any Claim it may have in the future as a
result of, or arising out of, any negotiations, contracts or agreements with the Company and will not seek recourse against the
Trust Account for any reason whatsoever.

 

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

 

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

 

The parties may assign this letter agreement
and any of their rights, interests, or obligations hereunder at any time upon five days’ notice to the other party.

 

This letter agreement shall be governed
by, construed in accordance with, and interpreted pursuant to the laws of the State of New York.

 

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

 

[Signature Page Follows]

 

    	 	 	 

     

    

 

	 	Very truly yours,
	 	 
	 	CC NEUBERGER PRINCIPAL HOLDINGS II
	 	 
	 	By:	/s/ Matthew Skurbe
	 	 	Name: Matthew Skurbe
	 	 	Title: Chief Financial Officer

 

    	 	 	 

     

    

 

	AGREED TO AND ACCEPTED BY:	 
	 	 
	CC NEUBERGER PRINCIPAL HOLDINGS II SPONSOR LLC	 
	 	 
	By:	/s/ Chinh E. Chu	 
	 	Name: Chinh E. Chu	 
	 	Title: Authorized SignatoryExhibit 10.5

 

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 July 30, 2020, is entered into by and among CC Neuberger Principal Holdings II, a Cayman Islands exempted company (the
“Company”), and CC Neuberger Principal Holdings II 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-fourth 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 Statements on Form S-1, filed with the U.S. Securities and Exchange
Commission (the “SEC”), File Numbers 333-239875 and 333-240217, under
the Securities Act of 1933, as amended (the “Securities Act”).

 

WHEREAS, the Purchaser has agreed to purchase
an aggregate of 16,400,000 redeemable warrants (and up to 2,160,000 additional redeemable warrants if the underwriters in the Public
Offering exercise their option to purchase additional units 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 $1.00 per warrant.

 

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 “IPO Closing
Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the
Company, 16,400,000 Private Placement Warrants at a price of $1.00 per warrant for an aggregate purchase price of $16,400,000
(the “Purchase Price”). The Purchaser shall pay the Purchase
Price by wire transfer of immediately available funds in the following amounts: (i) $2,000,000 to or on behalf of the Company
to the account(s) chosen by the Company, and (ii) $14,400,000 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 IPO Closing
Date. On the IPO 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.

 

     

     

    

 

(ii)                
On the date of the 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 (the “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 2,160,000 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 $1.00 per
warrant for an aggregate purchase price of up to $2,160,000 (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 the Option Closing Date. On the Option Closing Date,
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 in connection with the Public Offering (the “Warrant Agreement”).

 

(ii)                
On or prior to the IPO 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 each 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.

 

    2

     

    

 

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.

 

    3

     

    

 

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.

 

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 each 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 each 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.

 

    4

     

    

 

(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.

 

(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) of Regulation D 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.

 

    5

     

    

 

(viii)                 The
Purchaser has such knowledge and experience in financial and business matters, knows 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.

 

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 each 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 such 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 each 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 such 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 such Closing Date.

 

    6

     

    

 

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.

 

Section 6.              
Termination. This Agreement may be terminated at any time after December 31, 2020
upon the election by either the Company or the Purchaser upon written notice to the other party if the closing of the Public Offering
does not occur prior to such date.

 

Section 7.              
Survival of Representations and Warranties. All of the representations and warranties
contained herein shall survive the Closing Date.

 

Section 8.              
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.

 

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]

 

    7

     

    

 

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

 

	 	COMPANY:
	 	 
	 	CC NEUBERGER PRINCIPAL HOLDINGS
    II
	 	 
	 	By: 	/s/ Matthew Skurbe
	 	 	Name: 	Matthew Skurbe
	 	 	Title: 	Chief Financial Officer

 

     

     

    

 

	 	PURCHASER:
	 	 
	 	CC NEUBERGER PRINCIPAL HOLDINGS
    II SPONSOR LLC
	 	 
	 	By:	/s/ Chinh E. Chu
	 	 	Name:	Chinh E. Chu
	 	 	Title:	Authorized Signatory

 

     

     

    

 

EXHIBIT A

 

Warrant Agreement

 

     

     

    

 

EXHIBIT B

 

Registration and Shareholder Rights
Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}]]