Delayed Underwriting Commission Sample Clauses

Delayed Underwriting Commission. The Company agrees to pay the Underwriters 0.8% per unit ($2,000,000), whether or not the underwriters’ overallotment option is exercised in full. Of this amount, $1,000,000 shall be payable to the Underwriters upon the closing of the Offering and $1,000,000 shall be payable to the Underwriters from working capital in equal amounts monthly starting on the 16th month following the closing of the Offering until the 24th month following closing of the Offering. Any amounts not paid from working capital shall be accelerated and paid upon consummation of the Company’s Business Combination.