468 SPAC Sponsors Lock-Up Sample Clauses

468 SPAC Sponsors Lock-Up. In addition to the lock-up periods and terms for Sponsor Shares and Sponsor Warrants under the Sponsor Agreement, 468 SPAC Sponsors entered into the Voting and Non-Redemption Agreement pursuant to which the 468 SPAC Sponsors covenant and agree that the Sponsor Shares will be subject to a three hundred sixty (360) day lock-up post-Closing (the “468 SPAC Sponsors Lock-Up”), provided that (i) if and when the closing price for the Public Shares equals or exceeds €12.00 for any 20 trading days within a 30 trading days period at any point in time after the Closing, 5% of the initial shareholding of the 468 SPAC Sponsors will be released from the 468 SPAC Sponsors Lock-Up and (ii) if and when the Boxine Investors have received the amount of €210,000,000 as cash consideration and, if necessary, a sale of Consideration Shares in accordance with the exception from the Holding GmbH Shareholders’ Lock-Up, an additional 20% of the initial shareholding of the 468 SPAC Sponsors (including Public Shares issued upon exercise of the Sponsor Warrants) will be released from the 468 SPAC Sponsors Lock-Up. After three hundred sixty (360) days after Closing, 25% of the initial shareholding of 468 SPAC Sponsors (including Public Shares issued upon exercise of the Sponsor Warrants) will be released from the 468 SPAC Sponsors Lock-Up each quarter.