Common use of Founder Shares Clause in Contracts

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Founders and the Anchor Investors pursuant to the Founder Shares Agreements, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 750,000 by (b) a fraction, (i) the numerator of which is 3,000,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 3,000,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Founders and the Anchor Investors pursuant to the Founder Shares Subscription Agreements, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 750,000 562,500 by (b) a fraction, (i) the numerator of which is 3,000,000 2,250,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their over-allotment option, option and (ii) the denominator of which is 3,000,0002,250,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Founders and the Anchor Investors Sponsor pursuant to the Founder Shares AgreementsSponsor Subscription Agreement, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 750,000 1,125,000 by (b) a fraction, (i) the numerator of which is 3,000,000 4,500,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their over-allotment overallotment option, and (ii) the denominator of which is 3,000,0004,500,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Founders and the Anchor Investors pursuant to the Founder Shares Subscription Agreements, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 750,000 by (b) a fraction, (i) the numerator of which is 3,000,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their over-allotment option, option and (ii) the denominator of which is 3,000,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Founders and the Anchor Investors Sponsor pursuant to the Founder Shares AgreementsSubscription Agreement, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 750,000 300,000 by (b) a fraction, (i) the numerator of which is 3,000,000 2,250,000 minus the number of Public Units Shares purchased by the Underwriters upon the exercise of their over-allotment option, option and (ii) the denominator of which is 3,000,0002,250,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Founders and the Anchor Investors pursuant to the Founder Shares Subscription Agreements, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 750,000 468,750 by (b) a fraction, (i) the numerator of which is 3,000,000 1,875,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their over-allotment option, option and (ii) the denominator of which is 3,000,0001,875,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Founders and the Anchor Investors pursuant to the Founder Shares Subscription Agreements, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 750,000 843,750 by (b) a fraction, (i) the numerator of which is 3,000,000 3,375,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their over-allotment option, option and (ii) the denominator of which is 3,000,0003,375,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.