SEC Contract Filing

Filing Date: 2020-07-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>6
<FILENAME>ea124439ex10-1_property.htm
<DESCRIPTION>INVESTMENT MANAGEMENT TRUST AGREEMENT BETWEEN CONTINENTAL STOCK TRANSFER & TRUST COMPANY AND THE COMPANY
<TEXT>
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<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 10.1</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>INVESTMENT MANAGEMENT TRUST AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement is made
as of July 21, 2020 by and between Property Solutions Acquisition Corp. (the &ldquo;<U>Company</U>&rdquo;) and Continental Stock
Transfer &amp; Trust Company (&ldquo;<U>Trustee</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company&rsquo;s
registration statement on Form S-1, No. 333-239622 (&ldquo;<U>Registration Statement</U>&rdquo;) for its initial public offering
of securities (&ldquo;<U>IPO</U>&rdquo;) has been declared effective as of the date hereof (&ldquo;<U>Effective Date</U>&rdquo;)
by the Securities and Exchange Commission (capitalized terms used herein and not otherwise defined shall have the meanings set
forth in the Registration Statement); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, EarlyBirdCapital,
Inc. (the &ldquo;<U>Representative</U>&rdquo;) is acting as the representative of the several underwriters in the IPO; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, as described
in the Registration Statement, and in accordance with the Company&rsquo;s Amended and Restated Certificate of Incorporation, $200,000,000
($230,000,000 if the over-allotment option is exercised in full) of the proceeds from the IPO and a simultaneous private placement
of units 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 &ldquo;<U>Trust Account</U>&rdquo;) for the benefit of the Company and the holders of the Company&rsquo;s common stock,
par value $0.0001 per share (&ldquo;<U>Common Stock</U>&rdquo;), issued in the IPO as hereinafter provided (the proceeds to be
delivered to the Trustee will be referred to herein as the &ldquo;<U>Property</U>&rdquo;; the stockholders for whose benefit the
Trustee shall hold the Property will be referred to as the &ldquo;<U>Public Stockholders</U>,&rdquo; and the Public Stockholders
and the Company will be referred to together as the &ldquo;<U>Beneficiaries</U>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IT IS AGREED:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1.&nbsp;<U>Agreements and Covenants of Trustee</U>. The Trustee
hereby agrees and covenants to:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(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 initially
at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets of $100 billion or more)
in the United States, maintained by Trustee, and at a brokerage institution selected by the Company that is reasonably satisfactory
to the Trustee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) Manage, supervise, and administer the
Trust Account subject to the terms and conditions set forth herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) In a timely manner,
upon the written instruction of the Company, either (a) invest and reinvest the Property in United States &ldquo;government securities&rdquo;
within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the &ldquo;<U>Investment Company Act</U>&rdquo;),
having a maturity of 180 days or less, and/or in any open ended investment company registered under the Investment Company Act
that holds itself out as a money market fund selected by the Company meeting the conditions of paragraph (d) of Rule 2a-7 promulgated
under the Investment Company Act, which invest only in direct U.S. government treasury obligations or (b) cause the brokerage institution
referred to in 1(a) above to place the Property in a cash bank account such as an interest or non-interest bear