Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) of the gross proceeds from the sale of the Firm Units ($3,500,000) and three and one-half percent (3.5%) of the gross proceeds from the sale of the Option Units (up to $525,000) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan for its own account upon consummation of the Business Combination. The Deferred Underwriting Commission is due and payable to the Underwriters. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust Company, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may have; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro rata basis among the public stockholders.
Appears in 2 contracts
Samples: Underwriting Agreement (Globalink Investment Inc.), Underwriting Agreement (Globalink Investment Inc.)
Deferred Underwriting Commission. The Underwriters agree Underwriter agrees that three and one-half percent (3.5%) 2.5% of the gross proceeds from the sale of the Firm Units ($3,500,0004,375,000) and three and one-half percent (3.5%) 2.5% of the gross proceeds from the sale of the Option Units ($656,250 and, cumulatively with the gross proceeds from the sale of the Firm Units, up to $525,0005,031,250) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan for its own account upon consummation of the Company’s Business Combination. The Deferred Underwriting Commission is due and payable to the Underwriters. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersPublic Stockholders.
Appears in 2 contracts
Samples: Underwriting Agreement (Trident Acquisitions Corp.), Underwriting Agreement (Trident Acquisitions Corp.)
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) 3.0% of the gross proceeds from the sale of the Firm Units ($3,500,0002,250,000) and three and one-half percent (3.5%) 3.0% of the gross proceeds from the sale of the Option Units (up to $525,000337,500) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan Maxim for its own account upon consummation of the Business Combination. The Each of the Underwriters acknowledges that only Maxim shall receive the Deferred Underwriting Commission is due and payable to the UnderwritersCommission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersshareholders.
Appears in 2 contracts
Samples: Underwriting Agreement (ClimateRock), Underwriting Agreement (ClimateRock)
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) % of the gross proceeds from the sale of the Firm Units ($3,500,0003,080,000) and three and one-half percent (3.5%) % of the gross proceeds from the sale of the Option Units (up to $525,000462,000) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan the Representative for its own account upon consummation of the Business Combination. The Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission is due and payable to the UnderwritersCommission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholders.
Appears in 2 contracts
Samples: Underwriting Agreement (Vision Sensing Acquisition Corp.), Vision Sensing Acquisition Corp.
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) 2.5% of the gross proceeds from the sale of the Firm Units ($3,500,0002,750,000) and three and one-half percent (3.5%) 2.5% of the gross proceeds from the sale of the Option Units (up to $525,000412,500) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan the Representative for its own account upon consummation of the Business Combination. The Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission is due and payable to the UnderwritersCommission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersshareholders.
Appears in 2 contracts
Samples: Underwriting Agreement (Zi Toprun Acquisition Corp.), Underwriting Agreement (Zi Toprun Acquisition Corp.)
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) % of the gross proceeds from the sale of the Firm Units ($3,500,000) and three and one-half percent (3.5%) % of the gross proceeds from the sale of the Option Units (up to an additional $525,000) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan the Representative for its own account upon consummation of the Business Combination. The Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission is due and payable to the UnderwritersCommission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersshareholders.
Appears in 2 contracts
Samples: Underwriting Agreement (Aura Fat Projects Acquisition Corp), Underwriting Agreement (Aura Fat Projects Acquisition Corp)
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%i) 2.0% of the gross proceeds from the sale of the Firm Units ($3,500,0002,300,000) will be paid to the Underwriters on the Closing Date (the “Closing Date Underwriting Commission”); and three and one-half percent (ii) 3.5%) % of the gross proceeds from the sale of the Option Firm Units (up to $525,0004,025,000) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan the Representative for its own account upon consummation of the Business Combination. The Deferred Underwriting Commission is due and payable to the Underwriters. In the event that the Company is unable to consummate a Business Combination (as defined below) and Continental Stock Transfer & Trust CompanyWT, as the trustee of the Trust Account (in this context, the “Trustee”)Account, commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersshareholders.
Appears in 2 contracts
Samples: Underwriting Agreement (Murphy Canyon Acquisition Corp.), Murphy Canyon Acquisition Corp.
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) % of the gross proceeds from the sale of the Firm Units ($3,500,0005,250,000) and three and one-half percent (3.5%) % of the gross proceeds from the sale of the Option Units (up to $525,000) 787,500), if any (collectively, the “Deferred Underwriting Commission”) ), will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan Cantor Xxxxxxxxxx for its own account upon consummation of the Company’s initial Business Combination. The Deferred Underwriting Commission is due and payable to the Underwriters. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCST, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree Cantor Xxxxxxxxxx agrees that: (i) the Underwriters hereby it shall forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersPublic Stockholders.
Appears in 2 contracts
Samples: Underwriting Agreement (PropTech Acquisition Corp), Underwriting Agreement (PropTech Acquisition Corp)
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) 3.0% of the gross proceeds from the sale of the Firm Units ($3,500,0003,000,000) and three and one-half percent (3.5%) 3.0% of the gross proceeds from the sale of the Option Units (up to $525,000450,000) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan the Representative for its own account upon consummation of the Business Combination. The Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission is due and payable to the UnderwritersCommission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersshareholders.
Appears in 2 contracts
Samples: Underwriting Agreement (Aesther Healthcare Acquisition Corp.), Underwriting Agreement (Aesther Healthcare Acquisition Corp.)
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) 3.25% of the gross proceeds from the sale of the Firm Units ($3,500,0001,625,000) and three and one-half percent (3.5%) 3.25% of the gross proceeds from the sale of the Option Units (up to $525,000243,750) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan Maxim for its own account upon consummation of the Business Combination. The Each of the Underwriters acknowledges that only Maxim shall receive the Deferred Underwriting Commission is due and payable to the UnderwritersCommission. In the event that the Company is unable to consummate a Business Combination and Continental American Stock Transfer & Trust CompanyCompany (“AST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersshareholders.
Appears in 1 contract
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) % of the gross proceeds from the sale of the Firm Units ($3,500,0008,750,000) and three and one-half percent (3.5%) % of the gross proceeds from the sale of the Option Units (up to $525,0001,312,500) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan the Underwriters for its their own account upon consummation of the Business Combination. The Deferred Underwriting Commission is due and payable only to the UnderwritersUnderwriters in the same proportions as set forth on Schedule A hereto. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust Company, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may have; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersshareholders.
Appears in 1 contract
Samples: Warrant Agreement (Natural Order Acquisition Corp.)
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) 3.25% of the gross proceeds from the sale of the Firm Units ($3,500,0001,950,000) and three and one-half percent (3.5%) 3.25% of the gross proceeds from the sale of the Option Units (up to $525,000292,500) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan Maxim for its own account upon consummation of the Business Combination. The Each of the Underwriters acknowledges that only Maxim shall receive the Deferred Underwriting Commission is due and payable to the UnderwritersCommission. In the event that the Company is unable to consummate a Business Combination and Continental American Stock Transfer & Trust CompanyCompany (“AST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersshareholders.
Appears in 1 contract
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%i) 2.0% of the gross proceeds from the sale of the Firm Units ($3,500,0003,000,000) will be paid to the Underwriters on the Closing Date (the “Closing Date Underwriting Commission”); and three and one-half percent (ii) 3.5%) % of the gross proceeds from the sale of the Option Firm Units (up to $525,0005,250,000) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan the Representative for its own account upon consummation of the Business Combination. The Deferred Underwriting Commission is due and payable to the Underwriters. In the event that the Company is unable to consummate a Business Combination (as defined below) and Continental Stock Transfer & Trust CompanyWT, as the trustee of the Trust Account (in this context, the “Trustee”)Account, commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersshareholders.
Appears in 1 contract
Samples: Murphy Canyon Acquisition Corp.
Deferred Underwriting Commission. The Underwriters agree Representative agrees that three and one-half percent (3.5%) 2.25% of the gross proceeds from the sale of the Firm Units ($3,500,0003,937,500) and three and one-half percent (3.5%) 4.50% of the gross proceeds from the sale of the Option Units (up to $525,0001,181,250) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and shall be payable directly from the Trust AccountAccount to the Representative, without accrued interest, to Chardan for its own account upon consummation of the Business Combination. The Deferred Underwriting Commission is due and payable shall be paid by the Company solely to the UnderwritersRepresentative in cash upon the closing of the Company’s Business Combination. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCST, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree Representative, on behalf of itself and the other Underwriters, agrees that: (i) the several Underwriters hereby shall forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersPublic Shareholders.
Appears in 1 contract
Samples: Underwriting Agreement (Electrum Special Acquisition Corp)
Deferred Underwriting Commission. The Underwriters agree Underwriter agrees that three and one-half percent (3.5%) 2.5% of the gross proceeds from the sale of the Firm Units ($3,500,0001,000,000) and three and one-half percent (3.5%) 2.5% of the gross proceeds from the sale of the Option Units (up to $525,000150,000, and cumulatively with the gross proceeds from the sale of Firm Units, up to $1,150,000) (the “Deferred Underwriting Commission”) ), will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan for its own account upon consummation of the Company’s Business Combination. The Deferred Underwriting Commission is due and payable to the Underwriters. In the event that the Company is unable to consummate a Business Combination and Continental American Stock Transfer & Trust Company, LLC (“AMST”), as the trustee of the Trust Account (in this context, the “Trusteethe“Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersPublic Stockholders.
Appears in 1 contract
Samples: Underwriting Agreement (Atlantic Acquisition Corp.)
Deferred Underwriting Commission. The Underwriters agree Representative agrees that three and one-half percent (3.5%) 2.25% of the gross proceeds from the sale of the Firm Units ($3,500,0003,375,000) and three and one-half percent (3.5%) 4.50% of the gross proceeds from the sale of the Option Units (up to $525,0001,012,500) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and shall be payable directly from the Trust AccountAccount to the Representative, without accrued interest, to Chardan for its own account upon consummation of the Business Combination. The Deferred Underwriting Commission is due and payable shall be paid by the Company solely to the UnderwritersRepresentative in cash upon the closing of the Company’s Business Combination. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCST, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree Representative, on behalf of itself and the other Underwriters, agrees that: (i) the several Underwriters hereby shall forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersPublic Shareholders.
Appears in 1 contract
Samples: Underwriting Agreement (Electrum Special Acquisition Corp)
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) % of the gross proceeds from the sale of the Firm Units ($3,500,0007,000,000) and three and one-half percent (3.5%) % of the gross proceeds from the sale of the Option Units (up to $525,0001,050,000) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan the Underwriters for its their own account upon consummation of the Business Combination. The Deferred Underwriting Commission is due and payable only to the UnderwritersUnderwriters in the same proportions as set forth on Schedule A hereto. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust Company, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may have; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersshareholders.
Appears in 1 contract
Samples: Warrant Agreement (Natural Order Acquisition Corp.)
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) % of the gross proceeds from the sale of the Firm Units ($3,500,0001,750,000) and three and one-half percent (3.5%) of the gross proceeds from the sale of the Option Units (up to $525,000262,500) (the “Deferred Underwriting Commission”) will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan the Underwriters for its their own account upon consummation of the Company’s Business Combination. The Upon closing of the Business Combination, each of the Underwriters shall receive a portion of the Deferred Underwriting Commission is due and payable proportional to the Underwritersnumber of Firm Units purchased by such Underwriter. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCST, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersPublic Stockholders.
Appears in 1 contract
Samples: Underwriting Agreement (I-Am CAPITAL ACQUISITION Co)
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) % of the gross proceeds from the sale of the Firm Units ($3,500,00010,675,000) and three and one-half percent (3.5%) 5.5% of the gross proceeds from the sale of the Option Units (up to $525,000) 2,516,250), if any (collectively, the “Deferred Underwriting Commission”) ), will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan the Underwriters for its their own account accounts upon consummation of the Company’s initial Business Combination. The Deferred Underwriting Commission is due and payable to the Underwriters. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCST, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree that: (i) the Underwriters hereby shall forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersPublic Stockholders.
Appears in 1 contract
Samples: Underwriting Agreement (Apex Technology Acquisition Corp)
Deferred Underwriting Commission. The Underwriters agree that three and one-half percent (3.5%) 5.0% of the gross proceeds from the sale of the Firm Units ($3,500,0006,250,000) and three and one-half percent (3.5%) 7.0% of the gross proceeds from the sale of the Option Units (up to $525,000) 1,312,500), if any (collectively, the “Deferred Underwriting Commission”) ), will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan for its own account Cantor Xxxxxxxxxx upon consummation of the Company’s initial Business Combination. The Deferred Underwriting Commission is due and payable to the Underwriters. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCST, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree Cantor Xxxxxxxxxx agrees that: (i) the Underwriters hereby forfeit any all rights or claims to the Deferred Underwriting Commission any Underwriter may haveshall be forfeited; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersPublic Stockholders.
Appears in 1 contract
Deferred Underwriting Commission. The Underwriters agree Underwriter agrees that three and one-half percent (3.5%) 2.5% of the gross proceeds from the sale of the Firm Units ($3,500,0001,000,000) and three and one-half percent (3.5%) 2.5% of the gross proceeds from the sale of the Option Units (up to $525,000150,000, and cumulatively with the gross proceeds from the sale of Firm Units, up to $1,150,000) (the “Deferred Underwriting Commission”) ), will be deposited by the Underwriters in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Chardan for its own account upon consummation of the Company’s Business Combination. The Deferred Underwriting Commission is due and payable to the Underwriters. In the event that the Company is unable to consummate a Business Combination and Continental American Stock Transfer & Trust Company, LLC (“AMST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriters agree Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission any Underwriter may haveCommission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro pro-rata basis among the public stockholdersPublic Stockholders.
Appears in 1 contract
Samples: Underwriting Agreement (Atlantic Acquisition Corp.)