Common use of Insider Stock Transfers Clause in Contracts

Insider Stock Transfers. (a) In consideration of the agreement set forth in Section 1 hereof, the Insider (or its designees) will, immediately after the closing of a Business Combination (“Closing”), transfer to the Holder an aggregate of _____ shares of the Company’s Class A common stock (“Founder Shares”) beneficially owned by it (or its designees) if such Non-Redeemed Shares are not redeemed at the Meeting. The Founder Shares shall be re-issued in the name of the Holder either in physical certificate form or electronically using Depository Trust Company’s DWAC (Deposit Withdrawal at Custodian) System, as directed by the Holder.

Insider Stock Transfers. (a) In consideration of the agreement set forth in Section 1 hereof, the Insider (or its designees) will, immediately after the closing of a Business Combination (“Closing”), transfer to the Holder an aggregate of _____ shares of the Company’s Class A common stock (“Founder Shares”) beneficially owned by it (or its designees) if such Non-Redeemed Shares are not redeemed at the Meeting. The Founder Shares shall be re-issued in the name of the Holder either in physical certificate form or electronically using Depository Trust Company’s DWAC (Deposit Withdrawal at Custodian) System, as directed by the Holder.

Insider Stock Transfers. (a) In consideration of the agreement set forth in Section 1 hereof, the Insider Insiders (or its their designees) will, immediately after the closing of a Business Combination (“Closing”), transfer to the Holder an aggregate of _____ shares of the Company’s Class A common stock (“Founder Shares”) beneficially owned by it them (or its their designees) if such Non-Redeemed Shares are not redeemed at the Meeting. The Founder Shares shall be re-issued in the name of the Holder either in physical certificate form or electronically using Depository Trust Company’s DWAC (Deposit Withdrawal at Custodian) System, as directed by the Holder.