Common use of Payment for the Units Clause in Contracts

Payment for the Units. Payment for the Firm Units shall be made at the Closing Date by wire transfer of immediately available funds as follows: (i) dollars ($ ) (without giving effect to the Underwriters’ option to purchase Optional Units) shall be deposited in the Trust Account established by the Company for the benefit of the public securityholders as described in the Registration Statement pursuant to the terms of the Trust Agreement (including dollars ($ ) as deferred underwriting discounts and commissions, which is to be paid to the Underwriters upon consummation of the initial Business Combination pursuant to the Trust Agreement and Section 3(u) hereof) and (ii) dollars ($ ) of the proceeds shall be paid to the Company. Payment for any of the Optional Units shall be made on the Subsequent Closing Date, if any, by wire transfer of immediately available funds as follows: $ per Optional Unit sold shall be deposited in the Trust Account pursuant to the Trust Agreement (including $ per Optional Unit to be held in the Trust Account as deferred underwriting discounts and commissions, which is to be paid to the Underwriters upon consummation of the initial Business Combination pursuant to the Trust Agreement and Sections 3(u) and 3(v) hereof). It is understood that the Representative has been authorized, for its own account and the accounts of the several Underwriters, to accept delivery of and receipt for, and make payment of the purchase price for, the Firm Units and any Optional Units the Underwriters have agreed to purchase. BAS, individually and not as the Representative of the Underwriters, may (but shall not be obligated to) make payment for any Units to be purchased by any Underwriter whose funds shall not have been received by the Representative by the Closing Date or any Subsequent Closing Date, as the case may be, for the account of such Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.

Appears in 1 contract

Samples: Underwriting Agreement (National Security Solutions Inc.)

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Payment for the Units. Payment for the Firm Units shall be made at the Closing Date by wire transfer of immediately available funds as follows: (i) One Hundred Ninety Four Million dollars ($ $194,000,000) (without giving effect to the Underwriters’ option to purchase Optional Units) shall be deposited in the Trust Account established by the Company for the benefit of the public securityholders as described in the Registration Statement pursuant to the terms of the Trust Agreement (including Eight Million Six Hundred Twenty Five Thousand dollars ($ $8,625,000) as deferred underwriting discounts and commissionsdiscount, which is to be paid to the Underwriters upon consummation of the initial Business Combination pursuant to the Trust Agreement and Section 3(u3(w) hereof) and (ii) Six Hundred Twenty Five Thousand dollars ($ $625,000) of the proceeds shall be paid to the Company. Payment for any of the Optional Units shall be made on the Subsequent Closing Date, if any, by wire transfer of immediately available funds as follows: $ $9.73125 per Optional Unit sold shall be deposited in the Trust Account pursuant to the Trust Agreement (including $ $0.43125 per Optional Unit to be held in the Trust Account as deferred underwriting discounts and commissionsdiscount, which is to be paid to the Underwriters upon consummation of the initial Business Combination pursuant to the Trust Agreement and Sections 3(u) and 3(vSection 3(w) hereof). It is understood that the Representative has Representatives have been authorized, for its their own account and the accounts of the several Underwriters, to accept delivery of and receipt for, and make payment of the purchase price for, the Firm Units and any Optional Units the Underwriters have agreed to purchase. BAS, individually and not as the Representative of the Underwriters, may (but shall not be obligated to) make payment for any Units to be purchased by any Underwriter whose funds shall not have been received by the Representative Representatives by the Closing Date or any Subsequent Closing Date, as the case may be, for the account of such Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.

Appears in 1 contract

Samples: Underwriting Agreement (Sports Properties Acquisition Corp.)

Payment for the Units. Payment for the Firm Units shall be made at the Closing Date by wire transfer of immediately available funds as follows: (i) One Hundred Ninety Two Million Three Hundred Seventy Five Thousand dollars ($ $192,375,000) (without giving effect to the Underwriters’ option to purchase Optional Units) shall be deposited in the Trust Account established by the Company for the benefit of the public securityholders as described in the Registration Statement pursuant to the terms of the Trust Agreement (including Seven Million dollars ($ $7,000,000) as deferred underwriting discounts and commissionsdiscount, which is to be paid to the Underwriters upon consummation of the initial Business Combination pursuant to the Trust Agreement and Section 3(u3(v) hereof) and (ii) Six Hundred Twenty Five Thousand dollars ($ $625,000) of the proceeds shall be paid to the Company. Payment for any of the Optional Units shall be made on the Subsequent Closing Date, if any, by wire transfer of immediately available funds as follows: $ $9.65 per Optional Unit sold shall be deposited in the Trust Account pursuant to the Trust Agreement (including $ $0.35 per Optional Unit to be held in the Trust Account as deferred underwriting discounts and commissionsdiscount, which is to be paid to the Underwriters upon consummation of the initial Business Combination pursuant to the Trust Agreement and Sections 3(u) and Section 3(v) hereof). It is understood that the Representative has Representatives have been authorized, for its their own account and the accounts of the several Underwriters, to accept delivery of and receipt for, and make payment of the purchase price for, the Firm Units and any Optional Units the Underwriters have agreed to purchase. BAS, individually and not as the Representative of the Underwriters, may (but shall not be obligated to) make payment for any Units to be purchased by any Underwriter whose funds shall not have been received by the Representative Representatives by the Closing Date or any Subsequent Closing Date, as the case may be, for the account of such Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.

Appears in 1 contract

Samples: Underwriting Agreement (Sports Properties Acquisition Corp.)

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Payment for the Units. Payment for the Firm Units shall be made at the Closing Date by wire transfer of immediately available funds as follows: (i) One Hundred Ninety One Million Seventy Five Thousand dollars ($ $191,075,000) (without giving effect to the Underwriters’ option to purchase Optional Units) shall be deposited in the Trust Account established by the Company for the benefit of the public securityholders as described in the Registration Statement pursuant to the terms of the Trust Agreement (including Six Million dollars ($ $6,000,000) as deferred underwriting discounts and commissionsdiscount, which is to be paid to the Underwriters upon consummation of the initial Business Combination pursuant to the Trust Agreement and Section 3(u3(w) hereof) and (ii) Nine Hundred Twenty Five Thousand dollars ($ $925,000) of the proceeds shall be paid to the Company. Payment for any of the Optional Units shall be made on the Subsequent Closing Date, if any, by wire transfer of immediately available funds as follows: $ $9.60 per Optional Unit sold shall be deposited in the Trust Account pursuant to the Trust Agreement (including $ $0.30 per Optional Unit to be held in the Trust Account as deferred underwriting discounts and commissionsdiscount, which is to be paid to the Underwriters upon consummation of the initial Business Combination pursuant to the Trust Agreement and Sections 3(u) and 3(vSection 3(w) hereof). It is understood that the Representative has Representatives have been authorized, for its their own account and the accounts of the several Underwriters, to accept delivery of and receipt for, and make payment of the purchase price for, the Firm Units and any Optional Units the Underwriters have agreed to purchase. BAS, individually and not as the Representative of the Underwriters, may (but shall not be obligated to) make payment for any Units to be purchased by any Underwriter whose funds shall not have been received by the Representative Representatives by the Closing Date or any Subsequent Closing Date, as the case may be, for the account of such Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.

Appears in 1 contract

Samples: Underwriting Agreement (Sports Properties Acquisition Corp.)

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