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, and such third-party advisor as described in Section 2(c) herein, such respective amounts of the Deferred Discount as detailed in Section 2(c) herein 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 the time period required by its Amended and Restated Certificate of Incorporation, the Deferred Discount will not be paid to the Representatives (or to any third-party advisor, if applicable) and will, instead, be included in the Liquidation distribution of the proceeds held in the Trust Account made to the Public Stockholders. 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, on behalf of the Underwriters, and such third-party advisor as described in Section 2(c) herein, such respective amounts of the Deferred Discount as detailed in Section 2(c) herein 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 the time period required by its Amended and Restated Certificate Memorandum and Articles of IncorporationAssociation, the Deferred Discount will not be paid to the Representatives Representative (or to any third-party advisor, if applicable) and will, instead, be included in the Liquidation distribution of the proceeds held in the Trust Account made to the Public Stockholders. In connection with any such Liquidation, the Underwriters forfeit any rights or claims to the Deferred Discount.