Common use of Form of Founder Warrant Clause in Contracts

Form of Founder Warrant. The Founder Warrants will be issued in the same form as the Public Warrants except that the Founder Warrants, (i) subject to certain limited exceptions described below, will not be transferable or salable until they are released from escrow, which will not occur until the later of (a) one year after the date of the final prospectus included in the Registration Statement and (b) sixty days after the consummation of the Company’s initial Business Combination (as defined below), (ii) will be exercisable on a cashless basis in accordance with Section 3.3.1(b) hereof, (iii) will not be redeemable by the Company so long as they are still held by the Founder or a member of the Founder as of the date of this Agreement, and (iv) may be exercised for unregistered shares so long as a registration statement relating to the Common Stock issuable upon exercise of the warrants is not effective and current. Prior to their release from escrow, the Founder Warrants may only be transferred (i) to persons or entities controlling, controlled by, or under common control with the Founder, or to any stockholder, member, partner or limited partner of such entity, or (ii) to family members and trusts of permitted assignees for estate planning purposes or, upon the death of any such person, to an estate or beneficiaries of permitted assignees. In each case, such transferees will be subject to the same transfer restrictions as the Founder until after the Company completes its initial Business Combination.

Form of Founder Warrant. The Founder Warrants will be issued in the same form as the Public Warrants except that the Founder Warrants, (i) subject to certain limited exceptions described below, will not be transferable or salable until they are released from escrow, which will not occur until the later of (a) one year after the date of the final prospectus included in the Registration Statement and (b) sixty days after the consummation of the Company’s initial Business Combination (as defined below), (ii) will be exercisable on a cashless basis in accordance with Section 3.3.1(b) hereof, (iii) will not be redeemable by the Company so long as they are still held by the Founder or a member of the Founder its permitted transferees, as of the date of this Agreementdescribe below, and (iv) may be exercised for unregistered shares so long as a registration statement relating to the Common Stock issuable upon exercise of the warrants is not effective and current. Prior to their release from escrow, the Founder Warrants may only be transferred to (i) to persons the Company’s directors, officers or entities controlling, controlled byemployees, or under common control with the Founder, or to any stockholder, member, partner or limited partner of such entitytheir affiliates, or (ii) to family members and trusts of permitted assignees for estate planning purposes or, upon the death of any such person, to an estate or beneficiaries of permitted assignees. In each case, such transferees will be subject to the same transfer restrictions as the Founder until after the Company completes its initial Business Combination.