Limited Distributions of Income from Trust Account. Except for an aggregate amount of up to $2,250,000 from the interest earned on the Trust Account, net of taxes, that the Trustee shall release to the Company upon the Company’s demand to fund working capital requirements, no distributions from the Trust Account shall be permitted except in accordance with Sections 1(i) and 1(j) hereof. The Trustee shall have no responsibility or liability to verify calculations, qualify or otherwise approve Company requests for distributions pursuant to this Section 2.
Appears in 2 contracts
Samples: Investment Management Trust Agreement (NRDC Acquisition Corp.), Investment Management Trust Agreement (NRDC Acquisition Corp.)
Limited Distributions of Income from Trust Account. Except for an aggregate amount of up to $2,250,000 from the interest earned and collected on the Trust Account, net of taxes, that the Trustee shall release to the Company upon the Company’s demand to fund working capital requirements, no distributions from the Trust Account shall be permitted except in accordance with Sections 1(i) and 1(j) hereof. The Trustee shall have no responsibility or liability to verify calculations, qualify or otherwise approve Company requests for distributions pursuant to this Section 2.
Appears in 1 contract
Samples: Investment Management Trust Agreement (NRDC Acquisition Corp.)
Limited Distributions of Income from Trust Account. Except for an aggregate amount of up to $2,250,000 2,100,000 from the interest earned and collected on the Trust Account, net of taxes, that the Trustee shall release to the Company upon the Company’s 's demand to fund working capital requirements, no distributions from the Trust Account shall be permitted except in accordance with Sections 1(i) and 1(j) hereof. The Trustee shall have no responsibility or liability to verify calculations, qualify or otherwise approve Company requests for distributions pursuant to this Section 2.
Appears in 1 contract
Samples: Investment Management Trust Agreement (Education Media, Inc.)
Limited Distributions of Income from Trust Account. Except for an annual aggregate amount of up to $2,250,000 1,500,000 from one-half of the interest earned on the Trust Account, net of taxes, that the Trustee shall release to the Company upon the Company’s demand to fund working capital requirementsdemand, no distributions from the Trust Account shall be permitted except in accordance with Sections 1(i) and 1(j) hereof. The Trustee shall have no responsibility or liability to verify calculations, qualify or otherwise approve Company requests for distributions pursuant to this Section 2.
Appears in 1 contract
Samples: Investment Management Trust Agreement (Transforma Acquisition Group Inc.)
