Common use of Cancellation of Founder Shares Clause in Contracts

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securities, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 by (b) a fraction, (i) the numerator of which is 3,750,000 minus the number of Class A Common Stock purchased by the Underwriters upon the exercise of their option to purchase Option Securities, and (ii) the denominator of which is 3,750,000. For the avoidance of doubt, if the Underwriters exercise their option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securities, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 656,250 by (b) a fraction, (i) the numerator of which is 3,750,000 2,625,000 minus the number of Class A Common Stock Ordinary Shares purchased by the Underwriters upon the exercise of their option to purchase Option Securities, and (ii) the denominator of which is 3,750,0002,625,000. For the avoidance of doubt, if the Underwriters exercise their option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securities, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 1,125,000 by (b) a fraction, (i) the numerator of which is 3,750,000 4,500,000 minus the number of Class A Common Stock Ordinary Shares purchased by the Underwriters upon the exercise of their option to purchase Option Securities, and (ii) the denominator of which is 3,750,0004,500,000. For the avoidance of doubt, if the Underwriters exercise their option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securities, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 [·] by (b) a fraction, (i) the numerator of which is 3,750,000 minus the number of shares of Class A Common Stock purchased by the Underwriters upon the exercise of their option to purchase Option Securities, and (ii) the denominator of which is 3,750,000. For the avoidance of doubt, if the Underwriters exercise their option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securities, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 by (b) a fraction, (i) the numerator of which is 3,750,000 minus the number of Class A Common Stock Ordinary Shares purchased by the Underwriters upon the exercise of their option to purchase Option Securities, and (ii) the denominator of which is 3,750,000. For the avoidance of doubt, if the Underwriters exercise their option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securitiesover-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, Sponsors in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 1,031,250 by (b) a fraction, (i) the numerator of which is 3,750,000 4,125,000 minus the number of shares of Class A Common Stock purchased by the Underwriters upon the exercise of their option to purchase Option Securitiesover-allotment option, and (ii) the denominator of which is 3,750,0004,125,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of any of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securitiesover-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the SponsorSponsor and/or transferee thereof, as applicable, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 562,500 by (b) a fraction, (i) the numerator of which is 3,750,000 2,250,000 minus the number of Class A Common Stock Ordinary Shares purchased by the Underwriters upon the exercise of their option to purchase Option Securitiesover-allotment option, and (ii) the denominator of which is 3,750,0002,250,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of any of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securitiesover-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the SponsorSponsor and/or transferee thereof, as applicable, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 1,125,000 by (b) a fraction, (i) the numerator of which is 3,750,000 4,500,000 minus the number of Class A Common Stock Ordinary Shares purchased by the Underwriters upon the exercise of their option to purchase Option Securitiesover-allotment option, and (ii) the denominator of which is 3,750,0004,500,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of any of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securitiesover-allotment option, the Company shall cancel or otherwise effect the forfeiture and/or surrender for no consideration of Founder Shares from the Sponsor, Sponsor in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 281,250 by (b) a fraction, (i) the numerator of which is 3,750,000 1,125,000 minus the number of Class A Common Stock Optional Securities purchased by the Underwriters upon the exercise of their option to purchase Option Securitiesover-allotment option, and (ii) the denominator of which is 3,750,0001,125,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture and/or surrender for no consideration of any of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securities, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 656,250 by (b) a fraction, (i) the numerator of which is 3,750,000 2,625,000 minus the number of shares of Class A Common Stock purchased by the Underwriters upon the exercise of their option to purchase Option Securities, and (ii) the denominator of which is 3,750,0002,625,000. For the avoidance of doubt, if the Underwriters exercise their option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securities, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 1,125,000 by (b) a fraction, (i) the numerator of which is 3,750,000 4,500,000 minus the number of Class A Common Stock Units purchased by the Underwriters upon the exercise of their option to purchase Option Securities, and (ii) the denominator of which is 3,750,0004,500,000. For the avoidance of doubt, if the Underwriters exercise their option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securitiesover-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, Sponsor and Anchor Investors in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 562,500 by (b) a fraction, (i) the numerator of which is 3,750,000 2,250,000 minus the number of Class A Common Stock purchased by the Underwriters upon the exercise of their option to purchase Option Securitiesover-allotment option, and (ii) the denominator of which is 3,750,0002,250,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of any of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securitiesover-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, Sponsors in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 by (b) a fraction, (i) the numerator of which is 3,750,000 minus the number of shares of Class A Common Stock purchased by the Underwriters upon the exercise of their option to purchase Option Securitiesover-allotment option, and (ii) the denominator of which is 3,750,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of any of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securities, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 1,080,000 by (b) a fraction, (i) the numerator of which is 3,750,000 4,320,000 minus the number of Class A Common Stock Units purchased by the Underwriters upon the exercise of their option to purchase Option Securities, and (ii) the denominator of which is 3,750,0004,320,000. For the avoidance of doubt, if the Underwriters exercise their option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securities, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 1,575,000 by (b) a fraction, (i) the numerator of which is 3,750,000 6,300,000 minus the number of shares of Class A Common Stock purchased by the Underwriters upon the exercise of their option to purchase Option Securities, and (ii) the denominator of which is 3,750,0006,300,000. For the avoidance of doubt, if the Underwriters exercise their option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securitiesover-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, Sponsor in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 1,800,000 by (b) a fraction, (i) the numerator of which is 3,750,000 7,200,000 minus the number of Class A Common Stock Optional Securities purchased by the Underwriters upon the exercise of their option to purchase Option Securitiesover-allotment option, and (ii) the denominator of which is 3,750,0007,200,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of any of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securitiesover-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, Sponsor in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 1,312,500 by (b) a fraction, (i) the numerator of which is 3,750,000 5,250,000 minus the number of Class A Common Stock Optional Securities purchased by the Underwriters upon the exercise of their option to purchase Option Securitiesover-allotment option, and (ii) the denominator of which is 3,750,0005,250,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of any of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securitiesover-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, Sponsor in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 [937,500] by (b) a fraction, (i) the numerator of which is 3,750,000 [3,750,000] minus the number of Class A Common Stock Optional Securities purchased by the Underwriters upon the exercise of their option to purchase Option Securitiesover-allotment option, and (ii) the denominator of which is [3,750,000]. For the avoidance of doubt, if the Underwriters exercise their over-allotment option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of any of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securities, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 1,875,000 by (b) a fraction, (i) the numerator of which is 3,750,000 7,500,000 minus the number of Class A Common Stock Shares purchased by the Underwriters upon the exercise of their option to purchase Option Securities, and (ii) the denominator of which is 3,750,0007,500,000. For the avoidance of doubt, if the Underwriters exercise their option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Cancellation of Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ option to purchase Option Securities, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 937,500 750,000 by (b) a fraction, (i) the numerator of which is 3,750,000 3,000,000 minus the number of shares of Class A Common Stock purchased by the Underwriters upon the exercise of their option to purchase Option Securities, and (ii) the denominator of which is 3,750,0003,000,000. For the avoidance of doubt, if the Underwriters exercise their option to purchase Option Securities in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.