Common use of Disbursement of the Escrow Shares Clause in Contracts

Disbursement of the Escrow Shares. 3.1 If the over-allotment option to purchase all or a portion of the additional 1,500,000 Units of the Company is not exercised in full within 45 days of the date of the Prospectus (as described in the Underwriting Agreement), the Holders agree that the Escrow Agent shall return to the Company for cancellation, at no cost, a number of Ordinary Shares held by each such Founder determined by multiplying (a) the number of Ordinary Shares set forth on Exhibit A attached hereto under the column titled “Forfeiture Shares” by (b) a fraction, (i) the numerator of which is 1,500,000 minus the number of Ordinary Shares included in the Units purchased by the Underwriters upon the exercise of the over-allotment option, and (ii) the denominator of which is 1,500,000. The Company shall promptly provide notice to the Escrow Agent of the expiration or termination of the over-allotment option and the number of Units, if any, purchased by the Underwriters in connection with the exercise thereof

Disbursement of the Escrow Shares. 3.1 If the Underwriters do not exercise their over-allotment option to purchase all or a portion of the additional 1,500,000 5,250,000 Units of the Company is not exercised in full within 45 30 days of the date of the Prospectus (as described in the Underwriting Agreement), the Holders Sponsors agree that the Escrow Agent shall return to the Company for cancellation, at no cost, a the number of Ordinary Shares shares held by each such Founder Sponsor determined by multiplying (a) the product of (i) 1,312,500, multiplied by (ii) a fraction, (x) the numerator of which is the number of Ordinary Shares set forth on Exhibit A attached hereto under shares held by each Sponsor, and (y) the column titled “Forfeiture Shares” denominator of which is the total number of shares, by (b) a fraction, (i) the numerator of which is 1,500,000 5,250,000 minus the number of Ordinary Shares included in the Units shares of Common Stock purchased by the Underwriters upon the exercise of the their over-allotment option, and (ii) the denominator of which is 1,500,0005,250,000. The Company shall promptly provide notice to the Escrow Agent of the expiration or termination of the Underwriters’ over-allotment option and the number of Units, if any, purchased by the Underwriters in connection with the their exercise thereof.

Disbursement of the Escrow Shares. 3.1 If the Underwriters do not exercise their over-allotment option to purchase all or a portion of the additional 1,500,000 2,700,000 Units of the Company is not exercised in full within 45 30 days of the date of the Prospectus (as described in the Underwriting Agreement), the Holders Sponsors agree that the Escrow Agent shall return to the Company for cancellation, at no cost, a the number of Ordinary Shares shares held by each such Founder Sponsor determined by multiplying (a) the product of (i) 675,000, multiplied by (ii) a fraction, (x) the numerator of which is the number of Ordinary Shares set forth on Exhibit A attached hereto under shares held by each Sponsor, and (y) the column titled “Forfeiture Shares” denominator of which is the total number of shares, by (b) a fraction, (i) the numerator of which is 1,500,000 2,700,000 minus the number of Ordinary Shares included in the Units shares of Common Stock purchased by the Underwriters upon the exercise of the their over-allotment option, and (ii) the denominator of which is 1,500,0002,700,000. The Company shall promptly provide notice to the Escrow Agent of the expiration or termination of the Underwriters’ over-allotment option and the number of Units, if any, purchased by the Underwriters in connection with the their exercise thereof.

Disbursement of the Escrow Shares. 3.1 If the Underwriters do not exercise their over-allotment option to purchase all or a portion of the additional 1,500,000 2,250,000 Units of the Company is not exercised in full within 45 30 days of the date of the Prospectus (as described in the Underwriting Agreement), the Holders Sponsors agree that the Escrow Agent shall return to the Company for cancellation, at no cost, a the number of Ordinary Shares shares held by each such Founder Sponsor determined by multiplying (a) the product of (i) 562,500, multiplied by (ii) a fraction, (x) the numerator of which is the number of Ordinary Shares set forth on Exhibit A attached hereto under shares held by each Sponsor, and (y) the column titled “Forfeiture Shares” denominator of which is the total number of shares, by (b) a fraction, (i) the numerator of which is 1,500,000 2,250,000 minus the number of Ordinary Shares included in the Units shares of Common Stock purchased by the Underwriters upon the exercise of the their over-allotment option, and (ii) the denominator of which is 1,500,0002,250,000. The Company shall promptly provide notice to the Escrow Agent of the expiration or termination of the Underwriters’ over-allotment option and the number of Units, if any, purchased by the Underwriters in connection with the their exercise thereof.