Common use of Deferred Discount Clause in Contracts

Deferred Discount. Upon the consummation of the Initial Business Combination, the Company will pay or cause to be paid to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made 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 of the Offering 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 Trust Agreement as described in the Registration Statement, the Statutory Prospectus and the Prospectus, the Deferred Discount will not be paid to the Representative, on behalf of the Underwriters, and will instead be included in the Liquidation. In connection with any such Liquidation, the Underwriters shall forfeit any rights or claims to the Deferred Discount, including any accrued interest thereon.

Deferred Discount. Upon the consummation of the Initial Business Combination, the Company will pay pay, or will cause to be paid paid, to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made 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 of the Offering 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 Trust Agreement as described in the Registration Statement, the Statutory Prospectus and the Prospectus, the Deferred Discount will not be paid to the Representative, on behalf of the Underwriters, and will instead will, instead, be included in the Liquidationliquidation distribution of the proceeds held in the Trust Account made to the holders of the IPO Shares. In connection with any such Liquidationliquidation distribution, the Underwriters shall will forfeit any rights or claims to the Deferred Discount, including any accrued interest thereon.