Common use of Insider Warrants Clause in Contracts

Insider Warrants. The Company hereby acknowledges and agrees that, if the Warrants are called for redemption, so long as the Insider Warrants and Warrants underlying the Insider Units are held by the Initial Shareholders or their affiliates, such Warrants shall be exercisable by the holder by surrendering such Warrants for that number of Ordinary Shares equal to the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value” (defined below) by (y) the Fair Market Value. The “Fair Market Value” shall mean the average reported last sale price of the Ordinary Shares for the 10 trading days ending on the third business day prior to the date on which the notice of redemption is sent to holders of Warrants.

Insider Warrants. The Company hereby acknowledges and agrees that, if the Warrants are called for redemption, so long as the Insider Warrants and Warrants underlying the Insider Units are held by the Initial Shareholders or their affiliates, such Insider Warrants shall be exercisable by the holder by surrendering such Insider Warrants for that number of Ordinary Shares equal to the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value” (defined below) by (y) the Fair Market Value. The “Fair Market Value” shall mean the average reported last sale price of the Ordinary Shares for the 10 trading days ending on the third business day prior to the date on which the notice of redemption is sent to holders of Warrants.

Insider Warrants. The Company hereby acknowledges and agrees that, if the Warrants are called for redemption, so long as the Insider Warrants and Warrants underlying the Insider Units are held by the Initial Shareholders Insiders or their affiliates, such Insider Warrants shall be exercisable by the holder by surrendering such Insider Warrants for that number of Ordinary Shares equal to the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value” (defined below) by (y) the Fair Market Value. The “Fair Market Value” shall mean the average reported last sale price of the Ordinary Shares for the 10 trading days ending on the third business day prior to the date on which the notice of redemption is sent to holders of Warrants.

Insider Warrants. The Company hereby acknowledges and agrees that, if in the event the Company calls the Warrants are called for redemptionredemption pursuant to the Warrant Agreement, so long as the all Insider Warrants and Warrants underlying the Insider Units are then held by the Initial Shareholders or their affiliates, such Warrants Unit Purchaser shall be exercisable by the holder him by surrendering such the Insider Warrants for that number of Ordinary Shares shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of Ordinary Shares shares of Common Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the “"Fair Market Value” " (defined below) by (y) the Fair Market Value. The “"Fair Market Value” " shall mean the average reported last sale price of the Ordinary Shares Common Stock for the 10 trading days ending on the third business day prior to the date on which the notice of redemption is sent to holders of Warrants.