Common use of Existing Stockholders Warrant Purchase Agreement Clause in Contracts

Existing Stockholders Warrant Purchase Agreement. All of the Company's officers and directors have executed and delivered an agreement, annexed as Exhibit 10.6 of the Registration Statement (the "Warrant Purchase Agreement"), pursuant to which such persons, among other things, have purchased an aggregate of 900,000 warrants in a private placement intended to be exempt from registration under the Act under Section 4(2) of the Act ("Private Placement") at a purchase price of $1.20 per warrant ("Placement Warrants"). The Existing Stockholders and the Company have delivered executed copies of the Warrant Purchase Agreement and the Existing Stockholders have delivered the purchase price on or before the Effective Date. Pursuant to the Warrant Purchase Agreement, (i) the $1,080,000 of proceeds from the sale of the Placement Warrants has been deposited by the Company in the Trust Fund in accordance with the terms of the Trust Agreement on or prior to the Effective Date, and (ii) the purchasers of the Placement Warrants have waived any and all rights and claims that they may have to any proceeds, and any interest thereon, held in the Trust in respect of the Placement Warrants in the event that a Business Combination is not consummated and the Trust Fund is liquidated in accordance with the terms of the Trust Agreement.

Existing Stockholders Warrant Purchase Agreement. All of Arcade Acquisition Investors, LLC (“AAI”), an entity affiliated with the Company's ’s executive officers and directors have directors, has executed and delivered an agreement, annexed as Exhibit 10.6 of the Registration Statement (the "“Warrant Purchase Agreement"”), pursuant to which such persons, among other things, have purchased an aggregate of 900,000 2,000,000 warrants in a private placement intended to be exempt from registration under the Act under Section 4(2) of the Act ("“Private Placement"”) at a purchase price of $1.20 1.00 per warrant ("“Placement Warrants"”). The Existing Stockholders AAI and the Company have delivered executed copies of the Warrant Purchase Agreement and the Existing Stockholders have AAI has delivered the purchase price on or before the Effective Date. Pursuant to the Warrant Purchase Agreement, (i) the $1,080,000 2,000,000 of proceeds from the sale of the Placement Warrants has been deposited by the Company in the Trust Fund Account in accordance with the terms of the Trust Agreement on or prior to the Effective Date, and (ii) the purchasers of the Placement Warrants have waived any and all rights and claims that they may have to any proceeds, and any interest thereon, held in the Trust in respect of the Placement Warrants in the event that a Business Combination is not consummated and the Trust Fund Account is liquidated in accordance with the terms of the Trust Agreement.

Existing Stockholders Warrant Purchase Agreement. All of Arcade Acquisition Investors, LLC (“AAI”), an entity affiliated with the Company's ’s officers and directors have directors, has executed and delivered an agreement, annexed as Exhibit 10.6 of the Registration Statement (the "“Warrant Purchase Agreement"”), pursuant to which such persons, among other things, have purchased an aggregate of 900,000 2,000,000 warrants in a private placement intended to be exempt from registration under the Act under Section 4(2) of the Act ("“Private Placement"”) at a purchase price of $1.20 1.00 per warrant ("“Placement Warrants"”). The Existing Stockholders AAI and the Company have delivered executed copies of the Warrant Purchase Agreement and the Existing Stockholders have AAI has delivered the purchase price on or before the Effective Date. Pursuant to the Warrant Purchase Agreement, (i) the $1,080,000 2,000,000 of proceeds from the sale of the Placement Warrants has been deposited by the Company in the Trust Fund in accordance with the terms of the Trust Agreement on or prior to the Effective Date, and (ii) the purchasers of the Placement Warrants have waived any and all rights and claims that they may have to any proceeds, and any interest thereon, held in the Trust in respect of the Placement Warrants in the event that a Business Combination is not consummated and the Trust Fund is liquidated in accordance with the terms of the Trust Agreement.