EXHIBIT 10.7
ASIA AUTOMOTIVE ACQUISITION CORPORATION
______________, 2005
Asia Automotive Acquisition Corporation
000 Xxxxx Xxx Xxxxxxxx, Xxxxx 000
Xxxxxxxxxx, Xxxxxxxx 00000
Gentlemen:
This letter will confirm our agreement that, commencing on the effective
date ("Effective Date") of the registration statement for the initial public
offering ("IPO") of the securities of Asia Automotive Acquisition Corporation
("AAAC") and continuing until the earlier of the consummation by the Company of
a "Business Combination" or AAAC's liquidation (as described in AAAC's IPO
prospectus) (the "Termination Date"), Asia Development Capital LLC shall make
available to AAAC certain general and administrative services, due diligence and
global customer contact services, including office space, personnel, travel
expenses, utilities and secretarial support as may be required by AAAC from time
to time, situated at Asia Development Capital, LLC's offices in:
- Hong Kong and Beijing, China;
- Delhi, India;
- Bangkok, Thailand;
- Taipei, Taiwan; and
- Birmingham, Michigan.
In exchange therefor, AAAC shall pay Asia Development Capital LLC the sum of
$7,500 per month on the Effective Date and continuing monthly thereafter until
the Termination Date.
Very truly yours,
ASIA AUTOMOTIVE ACQUISITION CORPORATION
By: ________________________________
Name: Xxxxx X. Xxxxxx
Title: Chief Financial Officer
AGREED TO AND ACCEPTED BY:
ASIA DEVELOPMENT CAPITAL LLC
By: __________________________
Name: Xxxx Xxxxxx
Title: Managing Partner
