Management; Name Change Clause Samples

Management; Name Change. SPAC acknowledges and agrees that Acquirer shall have the right to replace SPAC’s current directors and officers with any such directors and officers as Acquirer may select in its sole discretion. Accordingly, in connection with the Closing, the existing directors and officers of SPAC shall resign from their respective positions. Additionally, Acquirer shall promptly following the Closing file a formal public vehicle name change on behalf of SPAC, and SPAC shall reasonably cooperate with Acquirer in connection therewith.

Management; Name Change. SPAC acknowledges and agrees that Acquirer shall have the right to replace SPAC’s current directors and officers with any such directors and officers as Acquirer may select in its sole discretion in accordance with applicable law. Accordingly, at the request of A▇▇▇▇▇▇▇, SPAC shall take such actions as necessary to effectuate the removal and replacement of SPAC’s existing directors and officers, and the existing directors and officers of SPAC shall resign from their respective positions co-incident with the Closing of the Transaction. Acquirer further agrees, and agrees to cause the SPAC, not to, and the SPAC shall not, change or modify the indemnity and insurance coverage for SPAC’s directors and officers set forth in SPAC’s charter. Additionally, Acquirer shall use its best efforts to change the legal name of SPAC, and SPAC shall reasonably cooperate with Acquirer in connection therewith; provided that Acquirer shall not be obligated to solicit separate proxies to effect such name change unless required by applicable law.

Management; Name Change. ▇▇▇▇ acknowledges and agrees that Acquirer shall have the right to replace SPAC’s current directors with any such directors as Acquirer may select in accordance with the certificate of incorporation of the SPAC. Concurrently with the execution of this Agreement, SPAC’s officers shall submit resignation letters, which letters shall take effect with the execution of this Agreement. Accordingly, at the request of ▇▇▇▇▇▇▇▇, SPAC shall take such actions as necessary to effectuate the removal and replacement of SPAC’s existing directors and officers and the existing directors and officers of SPAC shall resign from their respective positions. Sponsor shall cause one of its nominees to appoint the nominees to the SPAC board of directors chosen by Acquirer prior to such nominee resigning. Additionally, Acquirer shall file a formal public vehicle name change on behalf of SPAC within 10 days of the Effective Date, or such longer time as may be required under NYSE rules or regulations, and SPAC and Sponsor shall reasonably cooperate with Acquirer in connection therewith. Sponsor shall retain all rights to own and use the “Trajectory” and Trajectory Alpha” names and internet and email domain names.

Management; Name Change. (a) Concurrently with the Closing, (i) the Acquirer shall appoint the new directors and officers of the SPAC, and (ii) the current directors shall resign as directors of the SPAC, in each case, effective as of the Closing. In addition, all current officers of the SPAC shall resign effective as of the Closing. Acquirer shall use its best efforts to change the SPAC’s name and ticker symbol, and SPAC shall reasonably cooperate with Acquirer in connection therewith, provided that Acquirer shall be obligated to solicit proxies, as necessary, to effect such name change, which can be included in the Trust Extension Proxy Statement as long as such Trust Extension Proxy Statement is filed on or before February 10, 2024; provided that the Acquirer shall use its best efforts to effect the name change of the SPAC not later than March 15, 2024 (the “Name Change Deadline”). The Acquirer agrees that none of the current officers or directors of the SPAC shall participate in the affairs of the SPAC or the Acquirer following the Closing and Acquirer shall not make any statements to any party to the contrary.