Common use of Deferred Discount; Initial Business Combination Clause in Contracts

Deferred Discount; Initial Business Combination. Upon the consummation of the initial Business Combination, the Company will direct the trustee under the Trust Agreement to pay the Underwriters the Deferred Discount out of the proceeds of the 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 twelve (12) months (or up to eighteen (18) months from the closing of the Offering, if the Company extends the period of time to consummate the initial Business Combination, as described in more detail in the Prospectus) (or later if the public shareholders approve an amendment to the Company’s amended and restated memorandum and articles of association extending such deadline), the Deferred Discount will not be paid to the Underwriters and will, instead, be included in the distribution of the proceeds held in the Trust Account made to the public shareholders upon the liquidation of the Company. In connection with any such liquidation, the Underwriters forfeit any rights or claims to the Deferred Discount.

Deferred Discount; Initial Business Combination. Upon the consummation of the initial Business Combination, the Company will direct the trustee under the Trust Agreement to pay the Underwriters Underwriter the Deferred Discount out of the proceeds of the Offering held in the Trust Account. The Underwriters Underwriter 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 twelve (12) months (or up to eighteen (18) months from the closing of the Offering, if the Company extends the period of time to consummate the initial Business Combination, as described in more detail in the Prospectus) (or later if the public shareholders approve an amendment to the Company’s amended and restated memorandum and articles of association extending such deadline), the Deferred Discount will not be paid to the Underwriters Underwriter and will, instead, be included in the distribution of the proceeds held in the Trust Account made to the public shareholders upon the liquidation of the Company. In connection with any such liquidation, the Underwriters Underwriter forfeit any rights or claims to the Deferred Discount.

Deferred Discount; Initial Business Combination. Upon the consummation of the initial Business Combination, the Company will direct the trustee under the Trust Agreement to pay the Underwriters the Deferred Discount out of the proceeds of the 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 twelve nine (129) months (or up to eighteen (18) months from the closing of the Offering, if the Company extends the period of time to consummate the initial Business Combination, as described in more detail in the Prospectus) (or later if the public shareholders approve an amendment to the Company’s amended and restated memorandum and articles of association extending such deadline), the Deferred Discount will not be paid to the Underwriters and will, instead, be included in the distribution of the proceeds held in the Trust Account made to the public shareholders upon the liquidation of the Company. In connection with any such liquidation, the Underwriters forfeit any rights or claims to the Deferred Discount.