Common use of Deferred Discount Payment Clause in Contracts

Deferred Discount Payment. Upon the consummation of the initial Business Combination, the Company will direct the Trustee to pay the Representatives, on behalf of the Underwriters, the Deferred Discount out of the proceeds of the Offering held in the Trust Account, provided, that, up to 30% of the Deferred Discount may be paid at the Company’ sole discretion in allocations determined by the Company to the Underwriters and/or to third parties not participating in this offering (but who are members of FINRA) that assist the Company in consummating its initial business combination. The remaining 70% of the Deferred Discount will be paid directly to the Representatives, on behalf of the Underwriters. 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 time period required by its Amended and Restated Memorandum and Articles of Association, the Deferred Discount will not be paid to the Representatives and will, instead, be included in the Liquidation distribution of the proceeds held in the Trust Account made to the Public Shareholders. In connection with any such Liquidation, the Underwriters forfeit any rights or claims to the Deferred Discount.

Deferred Discount Payment. Upon the consummation of the initial Business Combination, the Company will direct the Trustee to pay the RepresentativesRepresentative (subject to the third and fourth sentences of this Section 4(ii)), on behalf of the UnderwritersUnderwriter, the Deferred Discount out of the proceeds of the Offering held in the Trust Account, provided, that, up to 30% of the Deferred Discount may be paid at the Company’ sole discretion in allocations determined by the Company to the Underwriters and/or to third parties not participating in this offering (but who are members of FINRA) that assist the Company in consummating its initial business combination. The remaining 70% of the Deferred Discount will be paid directly to the Representatives, on behalf of the Underwriters. 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 the time period required by its Amended and Restated Memorandum and Articles of Association, the Deferred Discount will not be paid to the Representatives Representative and will, instead, be included in the Liquidation distribution of the proceeds held in the Trust Account made to the Public ShareholdersStockholders. In connection with any such Liquidation, the Underwriters Underwriter forfeit any rights or claims to the Deferred Discount. Notwithstanding anything to the contrary in this Agreement, the Underwriter will consider in good faith to allow the Company to re-allocate or pay a portion of the amount designated per Unit as Deferred Discount to third parties not participating in the Offering (but who are members of FINRA) that assist the Company in consummating its initial Business Combination.