Common use of Escrow of Underwriters’ Discount Clause in Contracts

Escrow of Underwriters’ Discount. On the Closing Date, the Underwriters agree to deposit into the Trust Fund a portion of the discount equal to $0.16 per Firm Unit in the Offering (the “Escrowed Fees”) until the earlier of the completion of a Business Combination or the liquidation of the Trust Fund. Upon the consummation of a Business Combination, the Underwriters shall promptly receive the Escrowed Fees along with any interest accrued thereon (if any, net of taxes payable). In the event that the Company is unable to consummate a Business Combination and American Stock Transfer & Trust Company, the trustee of the Trust Fund, commences liquidation of the Trust Fund, the Underwriters hereby agree to the following: (i) forfeit any rights or claims to the Escrowed Fees and any interest accrued thereon; and (ii) that the Escrowed Fees shall be distributed on a pro-rata basis among the holders of the Public Securities (defined below) along with any interest accrued thereon.

Escrow of Underwriters’ Discount. On the Closing Date, the Underwriters agree to deposit into the Trust Fund a portion of the discount equal to $0.16 0.32 per Firm Unit in the Offering (the “Escrowed Fees”) until the earlier of the completion of a Business Combination or the liquidation of the Trust Fund. Upon the consummation of a Business Combination, the Underwriters shall promptly receive the Escrowed Fees along with any interest accrued thereon (if any, net of taxes payable). In the event that the Company is unable to consummate a Business Combination and American Stock Transfer & Trust Company, the trustee of the Trust Fund, commences liquidation of the Trust Fund, the Underwriters hereby agree to the following: (i) forfeit any rights or claims to the Escrowed Fees and any interest accrued thereon; and (ii) that the Escrowed Fees shall be distributed on a pro-rata basis among the holders of the Public Securities (defined below) along with any interest accrued thereon.

Escrow of Underwriters’ Discount. On the Closing Date, the Underwriters agree to deposit into the Trust Fund a portion of the discount equal to $0.16 0.32 per Firm Unit in the Offering (the “Escrowed Fees”"ESCROWED FEES") until the earlier of the completion of a Business Combination or the liquidation of the Trust Fund. Upon the consummation of a Business Combination, the Underwriters shall promptly receive the Escrowed Fees along with any interest accrued thereon (if any, net of taxes payable). In the event that the Company is unable to consummate a Business Combination and American Stock Transfer & Trust Company, the trustee of the Trust Fund, commences liquidation of the Trust Fund, the Underwriters hereby agree to the following: (i) forfeit any rights or claims to the Escrowed Fees and any interest accrued thereon; and (ii) that the Escrowed Fees shall be distributed on a pro-rata basis among the holders of the Public Securities (defined below) along with any interest accrued thereon.