SEC Contract Filing

Filing Date: 2021-01-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>7
<FILENAME>dp144174_ex1003.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit
10.3</B></FONT></P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">REGISTRATION
RIGHTS AGREEMENT</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">THIS REGISTRATION
RIGHTS AGREEMENT (this &ldquo;<B><I>Agreement</I></B>&rdquo;), dated as of January 7, 2021, is made and entered into by and among
Provident Acquisition Corp., a Cayman Islands exempted company (the &ldquo;<B><I>Company</I></B>&rdquo;), and Provident Acquisition
Holdings Ltd., a Cayman Islands limited liability company (the &ldquo;<B><I>Sponsor</I></B>&rdquo;, together with any other parties
listed on the signature pages hereto and any person or entity who hereafter becomes a party to this Agreement pursuant to <U>Section
<FONT STYLE="font-family: Times New Roman, Times, Serif">&lrm;</FONT>5.2</U> of this Agreement, a &ldquo;<B><I>Holder</I></B>&rdquo;
and collectively the &ldquo;<B><I>Holders</I></B>&rdquo;).</FONT></P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">RECITALS</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>WHEREAS</B>,
the Sponsor and certain other Holders (if any) collectively own an aggregate of 5,750,000 Class B ordinary shares, par value $0.0001
per share (the &ldquo;<B><I>Founder Shares</I></B>&rdquo;), of the Company, issued prior to the date hereof in a private placement
and pursuant to certain transfers;</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>WHEREAS</B>,
the Founder Shares will automatically convert into the Company&rsquo;s Class A ordinary shares, par value $0.0001 per share (the
&ldquo;<B><I>Ordinary Shares</I></B>&rdquo;), concurrently or immediately following the initial closing of the Business Combination
on a one-for-one basis, subject to adjustment, on the terms and conditions provided in the Company&rsquo;s amended and restated
memorandum and articles of association, as may be amended from time to time;</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>WHEREAS</B>,
up to an aggregate of 750,000 Founder Shares are subject to forfeiture by the Sponsor if the over-allotment option in connection
with the Company&rsquo;s initial public offering is not exercised in full;</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>WHEREAS</B>,
on _____________, 2021, the Company and the Sponsor entered into that certain Sponsor Warrants Purchase Agreement, pursuant to
which the Sponsor agreed to purchase 6,000,000 warrants (or up to 6,600,000 warrants if the over-allotment option in connection
with the Company&rsquo;s initial public offering is exercised in full) (the &ldquo;<B><I>Private Placement Warrants</I></B>&rdquo;),
in a private placement transaction occurring simultaneously with the closing of the Company&rsquo;s initial public offering, each
Private Placement Warrant entitling the holder thereof to purchase one Ordinary Share at a price of $11.50;</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.9pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>WHEREAS</B>,
in order to finance the Company&rsquo;s transaction costs in connection with its search for and consummation of an initial Business
Combination (as defined below), the Sponsor, its affiliates or any of the Company&rsquo;s officers and directors may loan to the
Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible into private placement-equivalent
warrants (&ldquo;<B><I>Working Capital Warrants</I></B>&rdquo;) at a price of $1.00 per warrant at the option of the lender; and</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>WHEREAS</B>,
the Company and the Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain
registration rights with respect to certain securities