Deferred Compensation. Upon the consummation of the Initial Business Combination, the Company will pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO Shares. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, including any accrued interest thereon.
Appears in 6 contracts
Samples: Underwriting Agreement (Sapphire Industrials Corp.), Underwriting Agreement (Sapphire Industrials Corp.), Underwriting Agreement (Sapphire Industrials Corp.)
Deferred Compensation. Upon the consummation of the Initial Business Combination, the Company will pay to the RepresentativeRepresentatives, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative Representatives, on behalf of the Underwriters, and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO SharesPublic Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, Discount including any accrued interest thereon.
Appears in 6 contracts
Samples: Underwriting Agreement (Roth CH Acquisition I Co), Underwriting Agreement (Roth CH Acquisition I Co), Underwriting Agreement (Roth CH Acquisition I Co)
Deferred Compensation. Upon the consummation of the Initial initial Business Combination, the Company will pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative Underwriters and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO SharesPublic Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, Discount including any accrued interest thereon.
Appears in 6 contracts
Samples: Underwriting Agreement (Capitol Investment Corp. VI), Capitol Investment Corp. VI, BrightSpark Capitol Corp.
Deferred Compensation. Upon the consummation of the Initial Business Combination, the Company will pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative Representative, on behalf of the Underwriters, and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO Shares. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, including any accrued interest thereon.
Appears in 4 contracts
Samples: North Asia Investment CORP, North Asia Investment CORP, Global Brands Acquisition Corp.
Deferred Compensation. Upon the consummation of the Initial initial Business Combination, the Company will pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering offering held in the Trust AccountFund. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account Fund representing the Deferred Discount. If the Company fails to consummate its Initial initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account Fund made to the holders of the IPO SharesShares (as defined in Section (dd)(3) hereof). In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, including any accrued interest thereon.
Appears in 3 contracts
Samples: Underwriting Agreement (Santa Monica Media CORP), Underwriting Agreement (Santa Monica Media CORP), Bank Street Telecom Funding Corp.
Deferred Compensation. Upon the consummation of the Initial initial Business Combination, the Company will pay to the RepresentativeRepresentatives, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering offering held in the Trust AccountFund. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account Fund representing the Deferred Discount. If the Company fails to consummate its Initial initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative Representatives and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account Fund made to the holders of the IPO SharesShares (as defined in Section (dd)(3) hereof). In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, including any accrued interest thereon.
Appears in 3 contracts
Samples: Underwriting Agreement (Santa Monica Media CORP), Underwriting Agreement (Santa Monica Media CORP), Underwriting Agreement (Santa Monica Media CORP)
Deferred Compensation. Upon the consummation of the Initial Business Combination, the Company will pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO Shares. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, including any accrued interest thereon.
Appears in 2 contracts
Samples: Underwriting Agreement (NTR Acquisition Co.), Alternative Asset Management Acquisition Corp.
Deferred Compensation. Upon the consummation of the Initial initial Business Combination, the Company will pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative Underwriters and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO SharesPublic Shareholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, Discount including any accrued interest thereon.
Appears in 2 contracts
Samples: Gobi Acquisition Corp., Gobi Acquisition Corp.
Deferred Compensation. Upon the consummation of the Initial Business Combination, the Company will pay to the RepresentativeRepresentatives, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative Representatives, on behalf of the Underwriters, and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO SharesPublic Shareholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, Discount including any accrued interest thereon.
Appears in 2 contracts
Samples: Underwriting Agreement (Capitol Investment Corp. IV), Capitol Investment Corp. IV
Deferred Compensation. Upon the consummation of the Initial Business Combination, the Company will pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative Representative, on behalf of the Underwriters, and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO SharesSecurities. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, including any accrued interest thereon.
Appears in 2 contracts
Deferred Compensation. Upon the consummation of the Initial Business Combination, the Company will pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative Representative, on behalf of the Underwriters, and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO SharesPublic Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, Discount including any accrued interest thereon.
Appears in 2 contracts
Samples: Capitol Acquisition Corp. III, Highland Acquisition Corp
Deferred Compensation. Upon the consummation of the Initial Business Combination, the Company will pay to the RepresentativeRepresentatives, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative Representatives and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO Shares. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, including any accrued interest thereon.
Appears in 2 contracts
Samples: Underwriting Agreement (SP Acquisition Holdings, Inc.), Underwriting Agreement (SP Acquisition Holdings, Inc.)
Deferred Compensation. Upon the consummation of the an Initial Business Combination, the Company will pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the required time period set forth in the Registration Statement, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO Shares. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, including any accrued interest thereon.
Appears in 1 contract
Samples: Underwriting Agreement (Overture Acquisition Corp.)
Deferred Compensation. Upon the consummation of the an Initial Business Combination, the Company will pay to the RepresentativeRepresentatives, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of this Offering offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the required time period set forth in the Registration Statement, or within the Extended Period if applicable, the Deferred Discount will not be paid to the Representative Representatives and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO Shares. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount, including any accrued interest thereon.
Appears in 1 contract
Samples: Underwriting Agreement (Navios Maritime Acquisition CORP)