Exclusion of Placement Warrants and Working Capital Warrants Sample Clauses
The 'Exclusion of Placement Warrants and Working Capital Warrants' clause defines that certain types of warrants—specifically, those issued as placement warrants or working capital warrants—are not subject to the same terms or restrictions as other warrants under the agreement. In practice, this means that these specific warrants may be exempt from transfer restrictions, redemption provisions, or other limitations that apply to public or standard warrants. The core function of this clause is to clarify the treatment of these special classes of warrants, ensuring that parties understand which instruments are covered by the agreement’s terms and which are not, thereby preventing confusion or disputes regarding their status.
Exclusion of Placement Warrants and Working Capital Warrants. The Company agrees that the redemption rights provided in this Section 6 shall not apply to the Placement Warrants or the Working Capital Warrants if at the time of the redemption such Placement Warrants or Working Capital Warrants continue to be held by the Sponsor, Cantor or any Permitted Transferees, as applicable. However, once such Placement Warrants or Working Capital Warrants are transferred (other than to Permitted Transferees under Section 2.5), the Company may redeem the Placement Warrants and the Working Capital Warrants, provided that the criteria for redemption are met, including the opportunity of the holder of such Placement Warrants or Working Capital Warrants to exercise the Placement Warrants and the Working Capital Warrants prior to redemption pursuant to Section 6.3. Placement Warrants and Working Capital Warrants that are transferred to persons other than Permitted Transferees shall upon such transfer cease to be Placement Warrants or Working Capital Warrants and shall become Public Warrants under this Agreement.
Exclusion of Placement Warrants and Working Capital Warrants. Section 6.4 of the Existing Warrant Agreement is hereby deleted and replaced with the following: “[INTENTIONALLY OMITTED]”