Common use of Assignment of Economic Interest Clause in Contracts

Assignment of Economic Interest. 2.1. Upon satisfaction of the conditions set forth in Section 1.1, the Sponsor hereby assigns to Investor all of its economic right, title and interest in and to that number of Assigned Securities set forth on Exhibit A (the “Economic Interest”), subject to adjustment as set forth in Section 2.2. The Economic Interest represents the Sponsor’s right to receive dividends and other distributions made by the Sponsor pursuant to the Sponsor LLC Agreement allocated to that number of Assigned Securities set forth on Exhibit A represented by the Founder Shares held directly by the Sponsor. 2.2. Investor acknowledges and agrees that it has no right to vote on matters of the Sponsor as a result of the Assigned Securities or Economic Interest, or to vote with respect to any Assigned Securities, and it has no right to vote Assigned Securities prior to transfer of any such shares to Investor pursuant to this Agreement. 2.3. Investor acknowledges and agrees that if it has a right pursuant to its Economic Interest to receive any dividends or other distributions paid in Ordinary Shares or other non-cash property, the Sponsor shall transfer all of its right, title and interest in such dividends or distributions concurrently with the transfer of the Assigned Securities to such Investor pursuant to Section 1. 2.4. If the conditions to the transfer of the Founder Shares in Section 1 are not satisfied with respect to any Founder Shares, then Investor shall automatically assign its Economic Interests in such Founder Shares back to the Sponsor, for no consideration.

Appears in 3 contracts

Samples: Non Redemption Agreement and Assignment of Economic Interest (Capitalworks Emerging Markets Acquisition Corp), Non Redemption Agreement and Assignment of Economic Interest (Tailwind International Acquisition Corp.), Non Redemption Agreement and Assignment of Economic Interest (BlueRiver Acquisition Corp.)

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Assignment of Economic Interest. 2.1. Upon satisfaction of the conditions set forth in Section 1.1, the Sponsor hereby assigns to Investor all of its economic right, title and interest in and to that number of Assigned Securities set forth on Exhibit A (the “Economic Interest”), subject to adjustment as set forth in Section 2.2. The Economic Interest represents the Sponsor’s right to receive dividends and other distributions made by the Sponsor pursuant to the Sponsor LLC Agreement allocated to that number of Assigned Securities set forth on Exhibit A represented by the Founder Shares held directly by the Sponsor. 2.2. Investor acknowledges and agrees that it has no right to vote on matters of the Sponsor as a result of the Assigned Securities or Economic Interest, or to vote with respect to any Assigned Securities, and it has no right to vote Assigned Securities prior to transfer of any such shares to Investor pursuant to this Agreement. 2.3. Investor acknowledges and agrees that if it has a right pursuant to its Economic Interest to receive any dividends or other distributions paid in Ordinary Shares or other non-cash property, the Sponsor shall transfer all of its right, title and interest in such dividends or distributions concurrently with the transfer of the Assigned Securities to such Investor pursuant to Section 1. 2.4. If the conditions to the transfer of the Founder Shares in Section 1 1.1 are not satisfied with respect to any Founder Shares, then Investor shall automatically assign its Economic Interests in such Founder Shares back to the Sponsor, for no consideration.

Appears in 2 contracts

Samples: Non Redemption Agreement and Assignment of Economic Interest (BlueRiver Acquisition Corp.), Non Redemption Agreement and Assignment of Economic Interest (BlueRiver Acquisition Corp.)

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Assignment of Economic Interest. 2.1. Upon satisfaction of the conditions set forth in Section 1.1, the Sponsor Insider hereby assigns to the Investor all of its economic right, economic title and economic interest in and to that number of Assigned Securities set forth on Exhibit A (the “Economic Interest”), subject to adjustment as set forth in Section 2.2. The Economic Interest represents the SponsorInsider’s right to receive dividends and other distributions made by the Sponsor pursuant to the Sponsor LLC Agreement allocated with respect to that number of Assigned Securities set forth on Exhibit A represented by the Founder Shares held directly by the SponsorInsider. 2.2. The Investor acknowledges and agrees that it is not a member of the Insider, it has no right to vote on matters of the Sponsor Insider as a result of the Assigned Securities or Economic Interest, or to vote with respect to any Assigned Securities, and it has no right to vote Assigned Securities prior to transfer of any such shares to the Investor pursuant to this Agreement. 2.3. The Investor acknowledges and agrees that if it has a right pursuant to its Economic Interest to receive any dividends or other distributions paid in Ordinary Shares or other non-cash property, the Sponsor Insider shall transfer all of its right, title and interest in such dividends or distributions concurrently with the transfer of the Assigned Securities to such the Investor pursuant to Section 1. 2.4. If the conditions to the transfer of the Founder Shares in Section 1 are not satisfied with respect to any Founder Shares, then the Investor shall automatically assign its Economic Interests in such Founder Shares back to the SponsorInsider, for no consideration.

Appears in 2 contracts

Samples: Non Redemption Agreement and Assignment of Economic Interest (EVe Mobility Acquisition Corp), Non Redemption Agreement and Assignment of Economic Interest (Battery Future Acquisition Corp.)

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