Common use of Interest Income Clause in Contracts

Interest Income. Prior to the Company’s consummation of a Business Combination or the Company’s liquidation, interest earned on the Trust Account may be released (i) to the Company pay any taxes incurred by the Company , (ii) to redeeming shareholders voting against the extended period, as more fully described in the prospectus, and (iii) to the Company, from time to time, to fund its working capital and general corporate requirements in an amount not to exceed $1,500,000, provided however, that the Company may not withdraw any interest to fund its working capital and general corporate requirements if such withdrawal would cause the balance of the Trust Account to fall below $99,000,000 (or $113,550,000 if the Over-allotment Option is exercised in full). Broadband Capital Management LLC _________ __, 2008

Appears in 1 contract

Samples: Underwriting Agreement (Korea Milestone Acquisition CORP)

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Interest Income. Prior to the Company’s consummation of a Business Combination or the Company’s liquidation, interest earned on the Trust Account may be released (i) to the Company pay any taxes incurred by the Company , (ii) to redeeming shareholders voting against the extended period, as more fully described in the prospectus, and (iii) to the Company, from time to time, to fund its working capital and general corporate requirements in an amount not to exceed $1,500,000, provided however, that the Company may not withdraw any interest to fund its working capital and general corporate requirements if such withdrawal would cause the balance of the Trust Account to fall below $99,000,000 100,000,000 (or $113,550,000 114,625,000 if the Over-allotment Option is exercised in full). Broadband Capital Management LLC _________ __, 2008.

Appears in 1 contract

Samples: Underwriting Agreement (Korea Milestone Acquisition CORP)

Interest Income. Prior to the Company’s consummation of a Business Combination business combination or the Company’s liquidation, interest earned on the Trust Account may be released (i) to the Company pay any taxes incurred by the Company , (ii) to redeeming shareholders voting against the extended period, as more fully described in the prospectus, and (iii) to the Company, from time to time, to fund its working capital and general corporate requirements in an amount not to exceed $1,500,000, provided however, that the Company may not withdraw any interest to fund its working capital and general corporate requirements if such withdrawal would cause the balance of the Trust Account to fall below $99,000,000 (or $113,550,000 if the Over-allotment Option is exercised in full). Broadband Capital Management LLC _________ __, 2008.

Appears in 1 contract

Samples: Underwriting Agreement (Korea Milestone Acquisition CORP)

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Interest Income. Prior to the Company’s consummation of a Business Combination or the Company’s liquidation, interest earned on the Trust Account may be released (i) to the Company pay any taxes incurred by the Company , (ii) to redeeming shareholders voting against the extended period, as more fully described in the prospectus, and (iii) to the Company, from time to time, to fund its working capital and general corporate requirements in an amount not to exceed $1,500,000, provided provided, however, that the Company may not withdraw any interest to fund its working capital and general corporate requirements if such withdrawal would cause the balance of the Trust Account to fall below $99,000,000 102,000,000 (or $113,550,000 109,350,000 if the Over-allotment Option is exercised in full). Broadband Capital Management LLC _________ __, 2008.

Appears in 1 contract

Samples: Underwriting Agreement (Korea Milestone Acquisition CORP)

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