Non-Defaulting Founding Stockholders' Option Pursuant to Section 3 Sample Clauses

Non-Defaulting Founding Stockholders' Option Pursuant to Section 3. 2. If the Company elects or is deemed to have elected to waive its right to purchase the Defaulting Stockholder's Offered Stock, for a period of thirty (30) days after receipt of the Non-Defaulting Founding Stockholders' Notice, the Non-Defaulting Founding Stockholders shall have the right, but not the obligation, to purchase any of the Defaulting Stockholder's Offered Stock for the Purchase Price and on the terms and conditions set forth in Sections 3.1-3.4, by giving written notice thereof to the Defaulting Stockholder within such thirty (30)-day period.
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Related to Non-Defaulting Founding Stockholders' Option Pursuant to Section 3

  • Waiver of Liquidation Distributions; Redemption Rights In connection with the Shares purchased pursuant to this Agreement, the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the trust account which will be established for the benefit of the Company’s public stockholders and into which substantially all of the proceeds of the IPO will be deposited (the “Trust Account”), in the event of a liquidation of the Company upon the Company’s failure to timely complete an initial business combination. For purposes of clarity, in the event the Subscriber purchases Shares in the IPO or in the aftermarket, any additional Shares so purchased shall be eligible to receive any liquidating distributions by the Company. However, in no event will the Subscriber have the right to redeem any Shares into funds held in the Trust Account upon the successful completion of an initial business combination.

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