Common use of Disbursement of the Escrow Shares Clause in Contracts

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 2,700,000 Units of the Company within 30 days of the date of the Prospectus (as described in the Underwriting Agreement), the Sponsors agree that the Escrow Agent shall return to the Company for cancellation, at no cost, the number of shares held by each 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 shares held by each Sponsor, and (y) the denominator of which is the total number of shares, by (b) a fraction, (i) the numerator of which is 2,700,000 minus the number of shares of Common Stock purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 2,700,000. 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 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 2,700,000 1,500,000 Units of the Company is not exercised in full within 30 45 days of the date of the Prospectus (as described in the Underwriting Agreement), the Sponsors Holders agree that the Escrow Agent shall return to the Company for cancellation, at no cost, the a number of shares Ordinary Shares held by each Sponsor such Founder determined by multiplying (a) the product of (i) 675,000, multiplied by (ii) a fraction, (x) the numerator of which is the number of shares held by each Sponsor, and (y) Ordinary Shares set forth on Exhibit A attached hereto under the denominator of which is the total number of shares, column titled “Forfeiture Shares” by (b) a fraction, (i) the numerator of which is 2,700,000 1,500,000 minus the number of shares of Common Stock Ordinary Shares included in the Units purchased by the Underwriters upon the exercise of their the over-allotment option, and (ii) the denominator of which is 2,700,0001,500,000. 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 their 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 2,700,000 5,250,000 Units of the Company within 30 days of the date of the Prospectus (as described in the Underwriting Agreement), the Sponsors agree that the Escrow Agent shall return to the Company for cancellation, at no cost, the number of shares held by each Sponsor determined by multiplying (a) the product of (i) 675,0001,312,500, multiplied by (ii) a fraction, (x) the numerator of which is the number of shares held by each Sponsor, and (y) the denominator of which is the total number of shares, by (b) a fraction, (i) the numerator of which is 2,700,000 5,250,000 minus the number of shares of Common Stock purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 2,700,0005,250,000. 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 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 2,700,000 2,250,000 Units of the Company within 30 days of the date of the Prospectus (as described in the Underwriting Agreement), the Sponsors agree that the Escrow Agent shall return to the Company for cancellation, at no cost, the number of shares held by each Sponsor determined by multiplying (a) the product of (i) 675,000562,500, multiplied by (ii) a fraction, (x) the numerator of which is the number of shares held by each Sponsor, and (y) the denominator of which is the total number of shares, by (b) a fraction, (i) the numerator of which is 2,700,000 2,250,000 minus the number of shares of Common Stock purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 2,700,0002,250,000. 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 their exercise thereof.