Common use of PIPE Subscriptions Clause in Contracts

PIPE Subscriptions. Unless otherwise approved in writing by FLAC or Holdco, as the case may be, neither Holdco nor FLAC shall permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 2 contracts

Samples: Business Combination Agreement (NewAmsterdam Pharma Co N.V.), Business Combination Agreement (Frazier Lifesciences Acquisition Corp)

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PIPE Subscriptions. Unless otherwise approved in writing by FLAC or Holdcothe Company, as the case may be, neither Holdco nor FLAC Acquiror shall not (other than changes that are solely ministerial and other de minimis changes) permit any amendment or modification to be made to, permit any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC Acquiror shall give each other the Company prompt written notice: (ia) of the receipt of any request from a PIPE Investor for an requested amendment to any Subscription Agreement; (iib) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) Acquiror by any party to any Subscription Agreement; (iiic) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual actual, or to the knowledge of Acquiror, potential, threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investoror any provisions of any Subscription Agreement; and (ivd) if Holdco Acquiror does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (One)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC reduce the Committed PIPE Investment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided provided, that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Delaware Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (Reinvent Technology Partners Z)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned, delayed or Holdcodenied), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC reduce the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided provided, that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (Welsbach Technology Metals Acquisition Corp.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC reduce the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Table of Contents Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided provided, that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Domesticated Acquiror Class A Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting The parties also acknowledge that Acquiror and the generality Company may mutually agree, following the execution of the foregoing, Holdco this Agreement and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default prior to the knowledge of Holdco or FLACClosing, as that Acquiror should execute subscription agreements substantially in the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation form of the Subscription Agreement by with certain other potential counterparties, but that no such PIPE Investor; and (iv) if Holdco does not expect to receive all actions, or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance negotiations with its termspotential counterparties respect thereto, shall be undertaken without such mutual agreement.

Appears in 1 contract

Samples: Merger Agreement (Reinvent Technology Partners Y)

PIPE Subscriptions. (a) Unless otherwise approved in writing by FLAC the Company, PACI shall not (i) enter into a new Subscription Agreement with any PIPE Investor, (ii) consent to the assignment or Holdcotransfer of any Subscription Agreement to any Person, as including any replacement of any such agreement, (iii) increase or decrease the case may besubscription amount under any Subscription Agreement, neither Holdco nor FLAC shall including any termination thereof, or (iv) permit any other amendment or modification to be made to, any other waiver (in whole or in part) of, or provide any other consent to modify (including consent to terminate)modify, any provision or remedy under, or any replacements of, under any of the Subscription AgreementsAgreements that would increase conditionality or impose any new obligation on the Company or PACI. Notwithstanding the foregoing, in each case, other than (x) no consent of the Company shall be required for any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification modification, or waiver to such assignment or transfer provision); provided that) and (y) the Company’s consent shall not be unreasonably withheld, conditioned, or delayed other than in the case of any such permitted assignment clause (i) or transfer, clause (iii) where an additional PIPE Investment would increase the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto PIPE Investment above $50 million and in the event that case of clause (iv), which matters shall be determined in the transferee or assignee, as applicable, does not comply Company’s sole discretion subject to reasonable consultation with its obligations to consummate the purchase of Holdco Shares contemplated therebyPACI. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfiedsentence, each of Holdco and FLAC PACI shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to satisfy the conditions in the Subscription Agreements, and, if all conditions in the Subscription Agreements have been satisfied, to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco PACI the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. . (b) Without limiting the generality of the foregoingSection 7.9(a), Holdco and FLAC PACI shall give each other the Company prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) to the knowledge of PACI by any party to any Subscription Agreement; (iiiii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual or threatened actual, potential, threatened, or claimed expiration, lapse, withdrawal, breach, default, termination termination, or repudiation of the by any party to any Subscription Agreement by such PIPE Investoror any provisions of any Subscription Agreement; and (iviii) if Holdco PACI does not expect to receive all or any portion of the applicable purchase price under PIPE Investment pursuant to any PIPE Investor’s Subscription Agreement in accordance with its termsAgreement.

Appears in 1 contract

Samples: Business Combination Agreement (PROOF Acquisition Corp I)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed) and except for any of the following actions that would not increase conditionality, as reduce the case may besubscription amount under any Subscription Agreement, neither Holdco nor FLAC reduce the per share price under the Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, or any assignment or transfer of, any of the Initial Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or not expressly permitted prohibited thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that) provided, that in the case event of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated therebypursuant thereto. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the each Subscription Agreements Agreement on the terms described therein, including using its reasonable best efforts to enforce its rights under the such Subscription Agreements Agreement to cause the PIPE Investors to pay to (or as directed by) Holdco fund the applicable purchase price amount due under each PIPE Investor’s applicable respective Subscription Agreement in accordance with its terms. Without limiting The parties also acknowledge that, following the generality execution of the foregoing, Holdco this Agreement and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default prior to the knowledge Closing, Acquiror may execute Subsequent Subscription Agreements with certain other investors. The parties further acknowledge that, following the execution of Holdco or FLACthis Agreement and prior to the Closing, as the case Acquiror may be obtain additional financing (including equity financing, debt financing, convertible securities, exchangeable securities, hybrid financing or any event or circumstance that, combination thereof) from potential investors pursuant to the knowledge of Holdco or FLAC, as the case may be, agreements with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or certain other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its termspotential counterparties.

Appears in 1 contract

Samples: Merger Agreement (Waldencast Acquisition Corp.)

PIPE Subscriptions. (a) Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for any amendments or modifications that would not increase conditionality or impose any new obligation on the case may beCompany or Acquiror, neither Holdco nor FLAC reduce the Minimum PIPE Investment Amount or the subscription amount under the Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements replacement of, any of the Subscription AgreementsAgreement, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Surviving Pubco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements Agreement on the terms described therein, including using its reasonable best efforts to (i) comply with respective obligations under the Subscription Agreement, (ii) subject to the immediately preceding sentence, maintain in effect the Subscription Agreement in accordance with the terms and conditions thereof, (iii) satisfy on a timely basis all conditions and covenants applicable to Acquiror set forth in the Subscription Agreement within its control, (iv) in the event that all conditions in the Subscription Agreement have been satisfied or waived (other than conditions that Acquiror or any of its Affiliates control the satisfaction of and other than those conditions that by their nature are to be satisfied at the Closing), consummate the PIPE Investment when required pursuant to this Agreement, and (v) enforce its rights under the Subscription Agreements Agreement, in the event that all conditions in the Subscription Agreement (other than conditions that Acquiror or any of its Affiliates control the satisfaction of and other than those conditions that by their nature are to be satisfied at the Closing) have been satisfied or waived, to cause the applicable PIPE Investors Investor to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each portion of the PIPE Investor’s applicable Investment Amount, as applicable, set forth in the Subscription Agreement in accordance with its terms. . (b) Without limiting the generality of the foregoingSection 7.5(a), Holdco and FLAC Acquiror shall give each other the Company prompt written notice: (i) of any amendment to the receipt Subscription Agreement (other than as a result of any request from a PIPE Investor for an amendment to any Subscription Agreement; assignments or transfers by investors as expressly contemplated therein or otherwise expressly permitted thereby), (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any a Subscription Agreement; Agreement known to Acquiror, (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to a Subscription Agreement with respect to any actual or threatened actual, potential, threatened, or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investor; or any provisions of a Subscription Agreement and (iv) if Holdco Acquiror does not expect to receive all or any portion of the applicable purchase price PIPE Investment Amount under any PIPE Investor’s the Subscription Agreement Agreements in accordance with its their respective terms. (c) If all or any portion of the Initial PIPE Investment becomes unavailable, (i) Acquiror shall promptly use its reasonable best efforts to promptly obtain the Initial PIPE Investment or such portion of the Initial PIPE Investment from alternative sources in an amount, when added to any portion of the Initial PIPE Investment that is available, equal to the Initial PIPE Investment Amount (any alternative source(s) of financing, “Alternative PIPE Investment”) and (ii) in the event that Acquiror is able to obtain any Alternative PIPE Investment, Acquiror shall use its reasonable best efforts to enter into a new subscription agreement (each, an “Alternative Subscription Agreement”) that provides for the subscription and purchase of Surviving Pubco Shares containing terms and conditions not less favorable from the standpoint of Acquiror and the Company than those in the Initial Subscription Agreement entered into as of the date hereof (as determined in the reasonable good-faith judgment of Acquiror and the Company). In such event, the term “PIPE Investment” as used in this Agreement shall be deemed to include any Alternative PIPE Investment, the term “Subscription Agreement” as used in this Agreement shall be deemed to include any Alternative Subscription Agreement and the term “PIPE Investor” as used in this Agreement shall be deemed to include any Person that is subscribing for Surviving Pubco Shares under any Alternative Subscription Agreement. (d) Acquiror and the Company shall use commercially reasonable efforts to obtain commitments from the Other PIPE Investors. The Parties acknowledge and agree that, during the Interim Period, Acquiror and the Company may execute additional Subscription Agreements with Other PIPE Investors in relation to any Other PIPE Investment, and subject to the Pre-Approved Arrangements, the Parties shall cooperate and negotiate in good faith to enter into additional Subscription Agreements providing for such Other PIPE Investment on commercially reasonable terms with such Other PIPE Investors. In connection with the Pre-Approved Arrangements and any Other PIPE Investment, Acquiror and the Company agree to cooperate in good faith, and shall cause the appropriate officers and employers thereof, to use commercially reasonable efforts in connection with the arrangement of such Pre-Approved Arrangements or Other PIPE Investment as may be reasonably requested by Acquiror, including by (a) using commercially reasonable efforts to participate in a reasonable number of meetings, presentations, due diligence sessions, drafting sessions and sessions with rating agencies at mutually agreeable times and locations and upon reasonable advance notice, (b) using commercially reasonable efforts to assist with the preparation of customary materials for actual and potential investors, rating agency presentations, offering documents, private placement memoranda, bank information memoranda, prospectuses and similar documents required in connection with such financing, and (c) providing financial information regarding the Company that is readily available or within the Company’s possession and as is reasonably requested in connection with the arrangement of such Pre-Approved Arrangements or such Other PIPE Investment. Acquiror shall provide to the Company true, correct and complete copies of any Subscription Agreements in respect of Other PIPE Investments promptly following Acquiror’s execution thereof.

Appears in 1 contract

Samples: Merger Agreement (Fifth Wall Acquisition Corp. III)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC reduce the Minimum PIPE Investment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided provided, that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Domesticated Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (Social Capital Hedosophia Holdings Corp. II)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC or HoldcoExcept for the Exxxxxxx Back-Stop Subscription Agreement, as the case may beFlexjet shall not enter into or, neither Holdco nor FLAC shall once entered into, permit any amendment or modification to be made to, or any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), of any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfiedwithout the prior written consent of SPAC and Epic (such consent not to be unreasonably withheld, each of Holdco and FLAC conditioned or delayed). Assuming Subscription Agreements are entered into after the date hereof, Flexjet shall use its respective commercially reasonable best efforts to take, or to cause to be taken, all actions requiredand do, necessary or that it otherwise deems cause to be done, all things necessary, proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms and conditions described therein, including including: (a) using its commercially reasonable best efforts to enforce satisfy in all material respects on a timely basis all conditions and covenants applicable to Flexjet in the Subscription Agreements and otherwise comply with its obligations thereunder; (b) in the event that all conditions in the Subscription Agreements (other than conditions that Flexjet or any of its Affiliates control the satisfaction of and other than those conditions that by their nature are to be satisfied at the Closing) have been satisfied, consummating the transactions contemplated by the Subscription Agreements at or prior to the Closing; and (c) with respect to enforcing its rights under the Subscription Agreements in the event that all conditions in the Subscription Agreements (other than conditions that Flexjet or any of its Affiliates control the satisfaction of and other than those conditions that by their nature are to be satisfied at the Closing) have been satisfied, to cause the applicable PIPE Investors to pay contribute to (or as directed by) Holdco Flexjet the applicable purchase price under each portion of the PIPE Investor’s applicable Investment Amount set forth in the Subscription Agreement in accordance with its termsAgreements at or prior to the Closing. Without limiting the generality of the foregoing, Holdco and FLAC Flexjet shall give each other SPAC and Epic prompt (and, in any event within five Business Days) written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (iiA) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to could give rise to any such breach or default) by any party to any Subscription AgreementAgreement known to Flexjet; (iiiB) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual or threatened actual, potential or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by such party to any Subscription Agreement by such PIPE Investoror any provisions of any Subscription Agreement; and (ivC) if Holdco Flexjet does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Investment Amount on the terms or in the manner contemplated by the Subscription Agreement in accordance with its termsAgreements.

Appears in 1 contract

Samples: Business Combination Agreement (Horizon Acquisition Corp II)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC reduce the Committed PIPE Investment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided provided, that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Domesticated Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (Reinvent Technology Partners)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (prior to Closing) (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed) and except for any of the following actions that would not increase conditionality, as reduce the case may besubscription amount under any Subscription Agreement, neither Holdco nor FLAC reduce the per share price under the Subscription Agreement, or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, or any assignment or transfer of, any of the Initial Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or not expressly permitted prohibited thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that) provided, that in the case event of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated therebypursuant thereto. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the each Subscription Agreements Agreement on the terms described therein, including using its reasonable best efforts to enforce its rights under the such Subscription Agreements Agreement to cause the PIPE Investors to pay to (or as directed by) Holdco fund the applicable purchase price amount due under each PIPE Investor’s applicable respective Subscription Agreement in accordance with its terms. Without limiting The parties also acknowledge that, following the generality execution of the foregoing, Holdco this Agreement and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default prior to the knowledge Closing, Acquiror may execute Subsequent Subscription Agreements with certain other investors. The parties further acknowledge that, following the execution of Holdco or FLACthis Agreement and prior to the Closing Acquiror may obtain additional financing (including equity financing, as the case may be (debt financing, convertible securities, exchangeable securities, hybrid financing or any event or circumstance that, combination thereof) from potential investors pursuant to the knowledge of Holdco or FLAC, as the case may be, agreements with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or certain other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its termspotential counterparties.

Appears in 1 contract

Samples: Equity Purchase Agreement (Waldencast Acquisition Corp.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as the case may be, neither Holdco nor FLAC Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than as a result of any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendmentthereby, modification or waiver to such assignment or transfer provision); provided that, and in each case in a manner as would reasonably likely result in the case of any such permitted assignment or transfer, condition set forth in Section 9.3(d) to not be satisfied at the initial party to such Subscription Agreement Effective Time. Acquiror shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its applicable obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described and conditions therein, including using and subject to: (a) satisfy in all material respects covenants applicable to Acquiror in the Subscription Agreements; (b) in the event that all conditions in the Subscription Agreements (other than conditions that Acquiror or any of its Affiliates control the satisfaction of and other than those conditions that by their nature are to be satisfied at the Closing) have been satisfied, consummate transactions contemplated by the Subscription Agreements at or prior to Closing and (c) without limiting the Company’s rights to enforce certain of such Subscription Agreements in the event that all conditions in the Subscription Agreements (other than conditions that Acquiror or any of its Affiliates control the satisfaction of and other than those conditions that by their nature are to be satisfied at the Closing) have been satisfied, to use reasonable best efforts to enforce its rights under the Subscription Agreements to cause the applicable PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each portion of the PIPE Investor’s applicable Investment Amount, as applicable, set forth in the Subscription Agreement Agreements in accordance with their terms; provided that in no event will the reasonable best efforts of Acquiror be deemed or construed to require Acquiror to (i) guarantee, warrant, underwrite or indemnify the Company for any amount of the PIPE Investment Amount that any PIPE Investors ultimately fail to pay in any respect, or (ii) bring any enforcement action against any PIPE Investors to enforce its termsrights pursuant to the Subscription Agreement, provided that Acquiror will seek to enforce, including by bringing suit for specific performance, the Subscription Agreement if and to the extent the Company seeks and is granted a decree of specific performance of the obligation to consummate the Merger in accordance with any relevant Subscription Agreement. Without limiting the generality of the foregoing, Holdco and FLAC Acquiror shall give each other prompt the Company, written notice: notice (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; as promptly as practicable): (iia) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription AgreementAgreement known to Acquiror; (iiib) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual or actual, threatened (to the knowledge of Acquiror) or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investorparty or any provisions of any Subscription Agreement; and (ivc) if Holdco Acquiror does not expect to receive all or any portion of the applicable purchase price under any Minimum PIPE Investor’s Investment Amount pursuant to the Subscription Agreement in accordance with its termsAgreements.

Appears in 1 contract

Samples: Merger Agreement (CITIC Capital Acquisition Corp.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC Blade (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on Blade or Acquiror, neither Holdco nor FLAC Acquiror shall not (a) reduce the PIPE Investment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement or (b) permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided provided, that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective commercially reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its commercially reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price portion of the PIPE Investment Amount under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (Biotech Acquisition Co)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC Acquiror shall not agree to reduce the Minimum PIPE Investment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror or any third-party rights of the Company under any Subscription Agreement, and Acquiror shall not permit any material amendment or material modification to be made to, any material waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any material provision or material remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided thatprovided, that in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Domesticated Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (Marquee Raine Acquisition Corp.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC or Holdcothe Company, as the case may be, neither Holdco nor FLAC Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfiedsentence, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC Acquiror shall give each other prompt the Company written notice: notice as promptly as practicable of (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to that could give rise to any such breach or default) by any party to any Subscription Agreement; , in each case, that is known to Acquiror and (iiiii) of the receipt by Holdco or FLAC of any written notice or other written communication by Acquiror from any PIPE Investor party to any Subscription Agreement with respect to any actual or threatened actual, potential or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation by any party to any Subscription Agreement or of any provisions of any Subscription Agreement. Acquiror may enter into additional Subscription Agreements with the Company’s prior written consent. The proceeds raised pursuant to such additional Subscription Agreement(s) shall be included in the determination of the Acquiror Closing Cash Amount and Acquiror shall notify the Company of any changes in the amount of proceeds raised pursuant to such Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its termsAgreement(s).

Appears in 1 contract

Samples: Merger Agreement (B. Riley Principal 150 Merger Corp.)

PIPE Subscriptions. (a) Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC reduce the PIPE Commitment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Surviving Pubco Class A Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective commercially reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its commercially reasonable best efforts to (i) comply with respective obligations under the Subscription Agreements, (ii) maintain in effect the Subscription Agreements in accordance with the terms and conditions thereof, (iii) satisfy on a timely basis all conditions and covenants applicable to Acquiror set forth in the applicable Subscription Agreements within its control, (iv) consummate the PIPE Investment when required pursuant to this Agreement, and (v) enforce its rights under the Subscription Agreements, in the event that all conditions in the Subscription Agreements (other than conditions that Acquiror or any of its Affiliates control the satisfaction of and other than those conditions that by their nature are to be satisfied at the Closing) have been satisfied, to cause the applicable PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each portion of the PIPE Investor’s applicable Investment Amount, as applicable, set forth in the Subscription Agreement Agreements in accordance with its their terms. . (b) Without limiting the generality of the foregoing‎Section 8.5(a), Holdco and FLAC Acquiror shall give each other the Company prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; Agreement (other than as a result of any assignments or transfers contemplated therein or otherwise permitted thereby), (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; Agreement known to Acquiror and (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual or threatened actual, potential, threatened, or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation by any party to any Subscription Agreement or any provisions of any Subscription Agreement. (c) Acquiror may arrange for the purchase by third Persons of additional Surviving Pubco Class A Shares at a price per share of not less than $10.00 and on substantially the same terms as the PIPE Investment in effect as of the date hereof (including using subscription agreements in the same form as the Subscription Agreement by Agreements entered into as of the date hereof), in an aggregate amount not to exceed $200,000,000 without the prior written consent of the Company, and such amounts shall be included within the definition and amount of the PIPE Investor; Investment Amount and Available Cash Amount for all purposes hereunder (ivincluding for purposes of Section 10.3(e)). (d) if Holdco does not expect to receive If all or any portion of the applicable PIPE Investment becomes unavailable, (i) Acquiror shall promptly use its commercially reasonable efforts to promptly obtain the PIPE Investment or such portion of the PIPE Investment from alternative sources in an amount, when added to any portion of the PIPE Investment that is available, equal to the PIPE Investment Amount (any alternative source(s) of financing, “Alternative PIPE Investment”) and (ii) in the event that Acquiror is able to obtain any Alternative PIPE Investment, Acquiror shall use its commercially reasonable efforts to enter into a new subscription agreement (each, an “Alternative Subscription Agreement”) that provides for the subscription and purchase price of Surviving Pubco Class A Shares containing terms and conditions not less favorable from the standpoint of Acquiror and the Company than those in the Subscription Agreements entered into as of the date hereof (as determined in the commercially reasonable good-faith judgment of Acquiror and the Company). In such event, the term “PIPE Investment” as used in this Agreement shall be deemed to include any Alternative PIPE Investment, the term “Subscription Agreements” as used in this Agreement shall be deemed to include any Alternative Subscription Agreement and the term “PIPE Investor” as used in this Agreement shall be deemed to include any Person that is subscribing for Surviving Pubco Class A Shares under any PIPE Investor’s Alternative Subscription Agreement in accordance with its termsAgreement.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Founder SPAC)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned, delayed or Holdcodenied), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC reduce the Minimum PIPE Investment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided provided, that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (BowX Acquisition Corp.)

PIPE Subscriptions. (a) Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for any amendments or modifications that would not increase conditionality or impose any new obligation on the case may beCompany or Acquiror, neither Holdco nor FLAC reduce the Minimum PIPE Investment Amount or the subscription amount under the Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements replacement of, any of the Subscription AgreementsAgreement, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Surviving Pubco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements Agreement on the terms described therein, including using its reasonable best efforts to (i) comply with respective obligations under the Subscription Agreement, (ii) subject to the immediately preceding sentence, maintain in effect the Subscription Agreement in accordance with the terms and conditions thereof, (iii) satisfy on a timely basis all conditions and covenants applicable to Acquiror set forth in the Subscription Agreement within its control, (iv) in the event that all conditions in the Subscription Agreement have been satisfied or waived (other than conditions that Acquiror or any of its Affiliates control the satisfaction of and other than those conditions that by their nature are to be satisfied at the Closing), consummate the PIPE Investment when required pursuant to this Agreement, and (v) enforce its rights under the Subscription Agreements Agreement, in the event that all conditions in the Subscription Agreement (other than conditions that Acquiror or any of its Affiliates control the satisfaction of and other than those conditions that by their nature are to be satisfied at the Closing) have been satisfied or waived, to cause the applicable PIPE Investors Investor to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each portion of the PIPE Investor’s applicable Investment Amount, as applicable, set forth in the Subscription Agreement in accordance with its terms. . (b) Without limiting the generality of the foregoing‎Section 7.5(a), Holdco and FLAC Acquiror shall give each other the Company prompt written notice: (i) of any amendment to the receipt Subscription Agreement (other than as a result of any request from a PIPE Investor for an amendment to any Subscription Agreement; assignments or transfers by investors as expressly contemplated therein or otherwise expressly permitted thereby), (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any a Subscription Agreement; Agreement known to Acquiror, (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to a Subscription Agreement with respect to any actual or threatened actual, potential, threatened, or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investor; or any provisions of a Subscription Agreement and (iv) if Holdco Acquiror does not expect to receive all or any portion of the applicable purchase price PIPE Investment Amount under any PIPE Investor’s the Subscription Agreement Agreements in accordance with its their respective terms. (c) If all or any portion of the Initial PIPE Investment becomes unavailable, (i) Acquiror shall promptly use its reasonable best efforts to promptly obtain the Initial PIPE Investment or such portion of the Initial PIPE Investment from alternative sources in an amount, when added to any portion of the Initial PIPE Investment that is available, equal to the Initial PIPE Investment Amount (any alternative source(s) of financing, “Alternative PIPE Investment”) and (ii) in the event that Acquiror is able to obtain any Alternative PIPE Investment, Acquiror shall use its reasonable best efforts to enter into a new subscription agreement (each, an “Alternative Subscription Agreement”) that provides for the subscription and purchase of Surviving Pubco Shares containing terms and conditions not less favorable from the standpoint of Acquiror and the Company than those in the Initial Subscription Agreement entered into as of the date hereof (as determined in the reasonable good-faith judgment of Acquiror and the Company). In such event, the term “PIPE Investment” as used in this Agreement shall be deemed to include any Alternative PIPE Investment, the term “Subscription Agreement” as used in this Agreement shall be deemed to include any Alternative Subscription Agreement and the term “PIPE Investor” as used in this Agreement shall be deemed to include any Person that is subscribing for Surviving Pubco Shares under any Alternative Subscription Agreement. (d) Acquiror and the Company shall use commercially reasonable efforts to obtain commitments from the Other PIPE Investors. The Parties acknowledge and agree that, during the Interim Period, Acquiror and the Company may execute additional Subscription Agreements with Other PIPE Investors in relation to any Other PIPE Investment, and subject to the Pre-Approved Arrangements, the Parties shall cooperate and negotiate in good faith to enter into additional Subscription Agreements providing for such Other PIPE Investment on commercially reasonable terms with such Other PIPE Investors. In connection with the Pre-Approved Arrangements and any Other PIPE Investment, Acquiror and the Company agree to cooperate in good faith, and shall cause the appropriate officers and employers thereof, to use commercially reasonable efforts in connection with the arrangement of such Pre-Approved Arrangements or Other PIPE Investment as may be reasonably requested by Acquiror, including by (a) using commercially reasonable efforts to participate in a reasonable number of meetings, presentations, due diligence sessions, drafting sessions and sessions with rating agencies at mutually agreeable times and locations and upon reasonable advance notice, (b) using commercially reasonable efforts to assist with the preparation of customary materials for actual and potential investors, rating agency presentations, offering documents, private placement memoranda, bank information memoranda, prospectuses and similar documents required in connection with such financing, and (c) providing financial information regarding the Company that is readily available or within the Company’s possession and as is reasonably requested in connection with the arrangement of such Pre-Approved Arrangements or such Other PIPE Investment. Acquiror shall provide to the Company true, correct and complete copies of any Subscription Agreements in respect of Other PIPE Investments promptly following Acquiror’s execution thereof.

Appears in 1 contract

Samples: Merger Agreement (Mobile Infrastructure Corp)

PIPE Subscriptions. (a) Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC reduce the Minimum PIPE Investment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to (i) comply with respective obligations under the Subscription Agreements, (ii) maintain in effect the Subscription Agreements in accordance with the terms and conditions thereof, (iii) satisfy on a timely basis all conditions and covenants applicable to Acquiror set forth in the applicable Subscription Agreements within its control, (iv) consummate the PIPE Investment when required pursuant to this Agreement, and (v) enforce its rights under the Subscription Agreements, in the event that all conditions in the Subscription Agreements (other than conditions that Acquiror or any of its Affiliates control the satisfaction of and other than those conditions that by their nature are to be satisfied at the Closing) have been satisfied, to cause the applicable PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each portion of the PIPE Investor’s applicable Investment Amount, as applicable, set forth in the Subscription Agreement Agreements in accordance with its their terms. . (b) Without limiting the generality of the foregoing‎Section 7.5(a), Holdco and FLAC Acquiror shall give each other the Company prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; Agreement (other than as a result of any assignments or transfers contemplated therein or otherwise permitted thereby), (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; Agreement known to Acquiror and (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual or threatened actual, potential, threatened, or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investor; and or any provisions of any Subscription Agreement. (ivc) if Holdco does not expect to receive If all or any portion of the applicable PIPE Investment becomes unavailable, (i) Acquiror shall promptly use its reasonable best efforts to promptly obtain the PIPE Investment or such portion of the PIPE Investment from alternative sources in an amount, when added to any portion of the PIPE Investment that is available, equal to the PIPE Investment Amount (any alternative source(s) of financing, “Alternative PIPE Investment”) and (ii) in the event that Acquiror is able to obtain any Alternative PIPE Investment, Acquiror shall use its reasonable best efforts to enter into a new subscription agreement (each, an “Alternative Subscription Agreement”) that provides for the subscription and purchase price of Acquiror Common Stock containing terms and conditions not less favorable from the standpoint of Acquiror and the Company than those in the Subscription Agreements entered into as of the date hereof (as determined in the reasonable good-faith judgment of Acquiror and the Company). In such event, the term “PIPE Investment” as used in this Agreement shall be deemed to include any Alternative PIPE Investment, the term “Subscription Agreements” as used in this Agreement shall be deemed to include any Alternative Subscription Agreement and the term “PIPE Investor” as used in this Agreement shall be deemed to include any Person that is subscribing for Acquiror Common Stock under any PIPE Investor’s Alternative Subscription Agreement in accordance with its termsAgreement.

Appears in 1 contract

Samples: Merger Agreement (Empower Ltd.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for: (a) changes that are solely ministerial and other non-economic de minimis changes, or (b) any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Yucaipa, neither Holdco nor FLAC reduce the Committed PIPE Investment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Yucaipa under any Subscription Agreement, Yucaipa shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco TopCo Ordinary Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC Yucaipa shall give each other prompt the Company written noticenotice as promptly as practicable: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (iix) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such material breach or default) by any party to any Subscription Agreement; , in each case, that is known to Yucaipa and (iiiy) of the receipt by Holdco or FLAC of any written notice or other written communication by Yucaipa from any PIPE Investor party to any Subscription Agreement with respect to any actual or threatened actual, potential or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or of any portion provisions of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its termsAgreement.

Appears in 1 contract

Samples: Business Combination Agreement (Yucaipa Acquisition Corp)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC or Holdcothe Company, as the case may be, neither Holdco nor FLAC AHAC shall not (other than changes that are solely ministerial and other de minimis changes) permit any amendment or modification to be made to, permit any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC AHAC shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC AHAC shall give each other the Company prompt written notice: (ia) of the receipt of any request from a PIPE Investor for an requested amendment to any Subscription Agreement; (iib) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) AHAC by any party to any Subscription Agreement; (iiic) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual actual, or to the knowledge of AHAC, potential, threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investoror any provisions of any Subscription Agreement; and (ivd) if Holdco AHAC does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Business Combination Agreement (Alpha Healthcare Acquisition Corp.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC (a) Without the prior written consent of the Company (such consent not to be unreasonably delayed, withheld or Holdcoconditioned), as the case may be, neither Holdco nor FLAC SPAC shall not (other than changes that are solely ministerial) permit any amendment or modification to be made to, permit any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, after the execution and delivery thereof and other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC SPAC shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC SPAC shall give each other the Company prompt written notice: notice (ia) of the receipt of any request from a PIPE Investor for an requested amendment to any Subscription Agreement; , (iib) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance thatdefault, to the knowledge of Holdco or FLACSPAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; , (iiic) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual actual, or to the knowledge of SPAC, potential, threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investor; or any provisions of any Subscription Agreement, and (ivd) if Holdco SPAC does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms. (b) Notwithstanding any other provision of this Agreement, SPAC agrees, for the benefit of the Company, to take all necessary, legally available steps to enforce against any Investor the terms of that Investor’s Subscription Agreement if the Investor is in material breach of its obligations thereunder, including any breach caused by the Investor’s failure to fund its Subscription Amount (as defined in its Subscription Agreement) at the time and in the amount required pursuant to its Subscription Agreement.

Appears in 1 contract

Samples: Business Combination Agreement (Phoenix Biotech Acquisition Corp.)

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PIPE Subscriptions. Unless otherwise approved in writing by FLAC or Holdcothe Company, as the case may be, neither Holdco nor FLAC CHFW shall not (other than changes that are solely ministerial and other non-economic de minimis changes) permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided thatprovided, that in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of CHFW Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC CHFW shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco CHFW the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC CHFW shall give each other the Company prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be CHFW (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may beCHFW, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC the CHFW of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco CHFW does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Business Combination Agreement (Consonance-HFW Acquisition Corp.)

PIPE Subscriptions. (a) Unless otherwise approved in writing by FLAC the Company, Acquiror shall not (i) enter into a new Subscription Agreement with any PIPE Investor, (ii) consent to the assignment or Holdcotransfer of any Subscription Agreement to any Person, as including any replacement of any such agreement, (iii) increase or decrease the case may besubscription amount under any Subscription Agreement, neither Holdco nor FLAC shall including any termination thereof, or (v) permit any other amendment or modification to be made to, any other waiver (in whole or in part) of, or provide any other consent to modify (including consent to terminate)modify, any provision or remedy under, or any replacements of, under any of the Subscription AgreementsAgreements that would increase conditionality or impose any new obligation on the Company or Acquiror; provided, in each case, other than that (x) no consent of the Company shall be required for any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that) and (y) the Company’s consent shall not be unreasonably withheld, conditioned or delayed other than in the case of any such permitted assignment clause (i) or transfer, clause (iii) where an additional PIPE Investment would increase the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto PIPE Investment Amount above $550 million and in the event that case of clause (iv), which matters shall be determined in the transferee or assignee, as applicable, does not comply Company’s sole discretion subject to reasonable consultation with its obligations to consummate the purchase of Holdco Shares contemplated therebyAcquiror. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfiedsentence, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to satisfy the conditions in the Subscription Agreements, and, if all conditions in the Subscription Agreements have been satisfied, to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (Aspirational Consumer Lifestyle Corp.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC or Holdco, as the case may be, neither Holdco nor FLAC Company Acquiror shall not (other than changes that are solely ministerial and other non-economic de minimis changes) permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided thatprovided, that in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC Acquiror shall give each other the Company prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be Acquiror (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may beAcquiror, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC the Acquiror of any written notice or other written communication from any PIPE Investor with respect to any actual or potential threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco Acquiror does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (Revolution Acceleration Acquisition Corp)

PIPE Subscriptions. (a) Unless otherwise approved in writing by FLAC PubCo, IndiaCo and DSAQ, and except for any actions that would not (i) increase conditionality of the Transactions or Holdcoimpose any new obligation on the Blade Group or DSAQ, as (ii) reduce the case may beamount of the Antara PIPE Investment or the Hunch PIPE Investment or (iii) reduce or impair the rights of DSAQ, neither Holdco IndiaCo or PubCo under the Antara Subscription Agreement or the Hunch Subscription Agreement, no member of the Blade Group nor FLAC DSAQ shall permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Antara Subscription AgreementsAgreement or the Hunch Subscription Agreement, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision) (the approval from PubCo, IndiaCo or DSAQ not to be unreasonably withheld, conditioned or delayed); provided that. (b) Unless otherwise approved in writing by PubCo, IndiaCo and DSAQ, neither PubCo, IndiaCo, nor DSAQ shall (i) enter into any PIPE Subscription Agreement or (ii) following execution of any PIPE Subscription Agreement, permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any PIPE Subscription Agreement, in the case of each case, other than any such permitted assignment or transfertransfer contemplated therein or expressly permitted thereby (without any further amendment, the initial party modification or waiver to such Subscription Agreement shall remain bound by its obligations assignment or transfer provision) (the approval from PubCo or DSAQ, with respect thereto in the event that the transferee to this clause (ii) not to be unreasonably withheld, conditioned or assigneedelayed). (c) Each of PubCo, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence IndiaCo and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC DSAQ shall use its respective reasonable best efforts to take, or to cause to be taken, all actions requiredrequired or necessary, necessary or that it otherwise deems to be proper or advisable advisable, to consummate the transactions contemplated by the Antara Subscription Agreements Agreement and the Hunch Subscription Agreement and, following the execution thereof, any PIPE Subscription Agreement on the terms described thereinin the Antara Subscription Agreement, the Hunch Subscription Agreement or such PIPE Subscription Agreement, as applicable, including using its reasonable best efforts to enforce its rights rights, as applicable, under the Antara Subscription Agreements Agreement, the Hunch Subscription Agreement or such PIPE Subscription Agreement, as applicable, to cause the PIPE Investors other parties thereto to pay to (or as directed by) Holdco DSAQ, as applicable, the applicable purchase subscription price under each PIPE Investor’s applicable Subscription Agreement thereunder in accordance with its terms. Without limiting the generality Each of the foregoingPubCo, Holdco IndiaCo and FLAC DSAQ, as applicable, shall give each the other party prompt written notice: notice (e-mail being acceptable): (i) of the receipt of any request from a any other party to the Antara Subscription Agreement, the Hunch Subscription Agreement or any PIPE Investor Subscription Agreement, as applicable, for an amendment to any Subscription Agreementto, modification of, supplement to, waiver under or termination thereof; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be such Party that (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may besuch party, with or without notice, lapse of time or both, ) would be reasonably likely to give rise to any such breach or default) , by any party to any the Antara Subscription Agreement, the Hunch Subscription Agreement or any PIPE Subscription Agreement, as applicable; (iii) of the receipt by Holdco or FLAC such Party of any written notice or other written communication from any PIPE Investor with respect to any actual or potential threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Antara Subscription Agreement, the Hunch Subscription Agreement or any PIPE Subscription Agreement by such PIPE Investoranother party thereto; and (iv) if Holdco such Party does not expect to receive all or any portion of the applicable purchase price under the Antara Subscription Agreement, the Hunch Subscription Agreement or any PIPE Investor’s Subscription Agreement in accordance with its terms. (d) During the Interim Period, DSAQ, on the one hand, and the Blade Group, on the other hand, shall use their respective reasonable best efforts to, and shall instruct their respective financial advisors to, keep the Parties reasonably informed with respect to the Antara PIPE Investment, the Hunch PIPE Investment and the PIPE Investment, including by (i) providing regular updates and (ii) consulting and cooperating with, and considering in good faith any feedback from, DSAQ, the Blade Group, or their respective financial advisors with respect to such matters; provided, that none of their respective financial advisors shall be entitled to any fees with respect to the Antara PIPE Investment, the Hunch PIPE Investment or the PIPE Investment unless otherwise mutually agreed by each of DSAQ, IndiaCo and PubCo in writing.

Appears in 1 contract

Samples: Business Combination Agreement (Direct Selling Acquisition Corp.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned or Holdcodelayed), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC reduce the Committed PIPE Investment Amount or subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Acquiror Class A Common Stock or, if applicable, Closing Warrants contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (Broadscale Acquisition Corp.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company, and except for any of the following actions that would not increase conditionality or Holdcoimpose any new obligation on the Company or Acquiror, as reduce the case may besubscription amount under any PIPE Subscription Agreement or reduce or impair the rights of Acquiror under any PIPE Subscription Agreement, neither Holdco nor FLAC Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the PIPE Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided provided, that, in the case of any such permitted assignment or transfer, the initial party to such PIPE Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the PIPE Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the PIPE Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the PIPE Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (Welsbach Technology Metals Acquisition Corp.)

PIPE Subscriptions. Unless otherwise approved (a) Acquiror shall use its reasonable best efforts to (i) obtain the PIPE Investment (and the Company shall reasonably cooperate with Acquiror in writing by FLAC or Holdco, as connection thereto) on a timely basis on the case may be, neither Holdco nor FLAC shall permit any amendment or modification to be made to, any waiver (terms and conditions described in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby and (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC shall use its respective reasonable best efforts to ii) take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to (v) comply with its respective obligations under the Subscription Agreements, (w) maintain in effect the Subscription Agreements in accordance with the terms and conditions thereof, (x) satisfy on a timely basis all conditions and covenants applicable to Acquiror set forth in the applicable Subscription Agreements within its control, (y) consummate the PIPE Investment when required pursuant to this Agreement, and (z) enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC Acquiror shall give each other the Company prompt written notice: notice upon (iA) of the receipt becoming aware of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any of the Subscription Agreement; Agreements or any termination (iiior purported termination) of any of the Subscription Agreements, (B) the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual or threatened actual, potential or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investor; or any provisions of any Subscription Agreement and (ivC) if Holdco Acquiror does not expect to receive all or any portion of the applicable PIPE Investment Amount on the terms, in the manner or from the sources contemplated by the Subscription Agreements. Other than as set forth in Section 7.5(b), Acquiror shall not, without the prior written consent of the Company, amend, modify, supplement or waive (or permit any waiver of) any provision of, or terminate or abandon its plans with respect to, or provide consent to amend, modify, supplement, waive or terminate any provision or remedy under, or any replacements of, any Subscription Agreement. (b) If all or any portion of the PIPE Investment becomes unavailable, (i) Acquiror shall promptly notify the Company, (ii) Acquiror and the Company shall mutually cooperate and Acquiror shall promptly use its reasonable best efforts to promptly obtain the PIPE Investment or such portion of the PIPE Investment from alternative sources, in each case, subject to the prior written consent of the Company; provided, that the Company may not unreasonably condition, withhold or delay its consent with respect to any Alternative Subscription Agreement (including with respect to the entry into such agreement and the identity of any Person that is a party thereto) to be entered into with such alternative source(s) that provides for the subscription and purchase price of shares of Domesticated Acquiror Common Stock at $10.00 per share and containing terms and conditions identical (other than de minimis changes) to the Subscription Agreements entered into as of the date hereof, in an amount, when added to any portion of the PIPE Investment that is available, equal to the PIPE Investment Amount (any alternative source(s) of financing, “Alternative PIPE Investment”); provided, further, that the Company may withhold or delay its consent in its sole discretion with respect to the sale of any Equity Security, including shares of shares of Domesticated Acquiror Common Stock, that provides for the subscription and purchase of any Equity Securities on terms and conditions that are not identical (other than de minimis changes) to the Subscription Agreements entered into as of the date hereof, and (iii) in the event that Acquiror is able to obtain any Alternative PIPE Investment, subject to the prior written consent of the Company; provided, that the Company may not unreasonably condition, withhold or delay its consent with respect to any Alternative Subscription Agreement (including with respect to the entry into such agreement and the identity of any Person that is a party thereto) to be entered into with respect to such Alternative PIPE Investment that provides for the subscription and purchase of shares of Domesticated Acquiror Common Stock at $10.00 per share and containing terms and conditions identical (other than de minimis changes) to the Subscription Agreements entered into as of the date hereof; provided, further, that the Company may withhold or delay its consent in its sole discretion with respect to the sale of any Equity Security, including shares of shares of Domesticated Acquiror Common Stock, that provides for the subscription and purchase of any Equity Securities on terms and conditions that are not identical (other than de minimis changes) to the Subscription Agreements entered into as of the date hereof, Acquiror shall use its reasonable best efforts to enter into a new subscription agreement (each, an “Alternative Subscription Agreement”) that provides for the subscription and purchase of shares of Domesticated Acquiror Common Stock at $10.00 per share and containing terms and conditions not less favorable in the aggregate from the standpoint of Acquiror and the Company than those in the Subscription Agreements entered into as of the date hereof (as determined in the reasonable, good faith judgment of Acquiror, Sponsor and the Company). In such event, the term “PIPE Investment” as used in this Agreement shall be deemed to include any Alternative PIPE Investment, the term “Subscription Agreements” as used in this Agreement shall be deemed to include any Alternative Subscription Agreement and the term “PIPE Investor” as used in this Agreement shall be deemed to include any Person that is subscribing for Acquiror Class A Shares under any Alternative Subscription Agreement. For the avoidance of doubt, if all or any portion of the PIPE Investor’s Investment or Alternative PIPE Investment becomes unavailable, Acquiror may utilize deposits, proceeds or any other amounts from the Trust Account and, subject to the prior written consent of the Company (provided, that the Company may not unreasonably condition, withhold or delay its consent solely with respect to any additional third party financing that provides for the subscription and purchase of shares of Domesticated Acquiror Common Stock at $10.00 per share and contains terms and conditions identical (other than de minimis changes) to the Subscription Agreement Agreements entered into as of the date hereof; provided, further, that the Company may withhold or delay its consent in accordance its sole discretion with respect to the sale of any Equity Security, including shares of shares of Domesticated Acquiror Common Stock, that provides for the subscription and purchase of any Equity Securities on terms and conditions that are not identical (other than de minimis changes) to the Subscription Agreements entered into as of the date hereof), any additional third party financing to satisfy its termsfinancing obligations hereunder (including to satisfy the Minimum Cash Condition).

Appears in 1 contract

Samples: Merger Agreement (Motive Capital Corp)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably withheld, conditioned, delayed or Holdcodenied), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC reduce the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided provided, that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective commercially reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its commercially reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC shall give each other prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor with respect to any actual or threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the Subscription Agreement by such PIPE Investor; and (iv) if Holdco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Welsbach Technology Metals Acquisition Corp.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC or Holdcothe Company, as the case may be, neither Holdco nor FLAC Acquiror shall not (other than changes that are solely ministerial and other de minimis changes) permit any amendment or modification to be made to, permit any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided provided, that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC Acquiror shall give each other the Company prompt written notice: (i) of the receipt of any request from a PIPE Investor for an requested amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be Acquiror (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may beAcquiror, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual actual, or to the knowledge of Acquiror, potential, threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investoror any provisions of any Subscription Agreement; and (iv) if Holdco Acquiror does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms.

Appears in 1 contract

Samples: Merger Agreement (Social Capital Hedosophia Holdings Corp. V)

PIPE Subscriptions. (a) Unless otherwise approved in writing by FLAC or Holdcothe Company, as the case may be, neither Holdco nor FLAC DYNS shall not (other than changes that are solely ministerial) permit any amendment or modification to be made to, permit any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC DYNS shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC DYNS shall give each other the Company prompt written notice: notice (ia) of the receipt of any request from a PIPE Investor for an requested amendment to any Subscription Agreement; , (iib) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance thatdefault, to the knowledge of Holdco or FLACDYNS, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; , (iiic) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual actual, or to the knowledge of DYNS, potential, threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investor; or any provisions of any Subscription Agreement, and (ivd) if Holdco DYNS does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms. (b) Notwithstanding any other provision of this Agreement, DYNS agrees, for the benefit of the Company, to take all necessary, legally available steps to enforce against any Investor the terms of that Investor’s Subscription Agreement if the Investor is in material breach of its obligations thereunder, including any material breach caused by the Investor’s failure to fund its Subscription Amount (as defined in its Subscription Agreement) at the time and in the amount required pursuant to its Subscription Agreement.

Appears in 1 contract

Samples: Business Combination Agreement (Dynamics Special Purpose Corp.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Target Company (which approval shall not be unreasonably withheld, conditioned or Holdco, as the case may bedelayed), neither VIH nor Holdco nor FLAC shall permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC VIH shall use its respective reasonable best efforts to take, or to cause to be taken, all actions requiredand do, necessary or that it otherwise deems cause to be done, all things necessary, proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms and conditions described therein, including using its reasonable best efforts to enforce its rights under maintaining in effect the Subscription Agreements and to (a) satisfy in all material respects on a timely basis all conditions and covenants applicable to Holdco or VIH, as applicable, in the Subscription Agreements and otherwise comply with its obligations thereunder, (b) confer with the Target Company regarding timing of the expected Closing Date (as defined in the Subscription Agreements), (c) in the event that all conditions in the Subscription Agreements (other than those conditions that by their nature are to be satisfied at the Closing) have been satisfied, consummate transactions contemplated by the Subscription Agreements at or prior to Closing, (d) deliver notices to counterparties to the Subscription Agreements sufficiently in advance of the Closing to cause them to fund their obligations as far in advance of the Closing as permitted by the Subscription Agreements and (e) without limiting the Target Company’s rights to enforce certain of such Subscription Agreements in the event that all conditions in the Subscription Agreements (other than those conditions that by their nature are to be satisfied at the Closing and will be satisfied at the Closing) have been satisfied, to cause the applicable PIPE Investors to pay to (or as directed by) Holdco the applicable purchase price under each PIPE Investor’s portion of the investment amount, as applicable, set forth in the applicable Subscription Agreement in accordance with its their terms. Without limiting the generality of the foregoing, Holdco and FLAC VIH shall give each other the Target Company, and Holdco shall give VIH, as applicable, prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (iia) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to could give rise to any such breach or default) by any party to any Subscription AgreementAgreement known to Holdco or VIH, respectively; (iiib) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual or actual, potential, threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investoror any provisions of any Subscription Agreement; and (ivc) if Holdco does or VIH do not expect Holdco to receive all or any portion of the applicable purchase price under any PIPE Investor’s Investment Amount on the terms, in the manner or from the PIPE Investors as contemplated by the Subscription Agreement in accordance with its termsAgreements.

Appears in 1 contract

Samples: Business Combination Agreement (VPC Impact Acquisition Holdings II)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC or Holdcothe Company, as the case may be, neither Holdco nor FLAC CPUH and Pubco shall not (other than changes that are solely ministerial and other de minimis changes) permit any amendment or modification to be made to, permit any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco CPUH and FLAC Pubco shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco CPUH and FLAC Pubco shall give each other the Company prompt written notice: notice (ia) of the receipt of any request from a PIPE Investor for an requested amendment to any Subscription Agreement; , (iib) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance thatdefault, to the knowledge of Holdco or FLACCPUH, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; , (iiic) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual actual, or to the knowledge of CPUH, potential, threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investor; or any provisions of any Subscription Agreement, and (ivd) if Holdco Pubco does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms. Notwithstanding any other provision of this Agreement, each of CPUH and Pubco agree, for the benefit of the Company, to take all necessary, legally available steps to enforce against any Investor the terms of that Investor’s Subscription Agreement if the Investor is in material breach of its obligations thereunder, including any material breach caused by the Investor’s failure to fund its Subscription Amount (as defined in its Subscription Agreement) at the time and in the amount required pursuant to its Subscription Agreement (the “Subscription Agreement Enforcement”); provided, however, that CPUH will only be obligated to take an action in connection with the Subscription Agreement Enforcement to the extent that, prior to the taking of such action by CPUH, the Company has advanced to CPUH any and all fees, expenses, commissions or other amounts required to be paid or incurred in connection with such action (the “Subscription Agreement Enforcement Expenses”).

Appears in 1 contract

Samples: Business Combination Agreement (Allurion Technologies Holdings, Inc.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC (a) Without the prior written consent of the Company (such consent not to be unreasonably delayed, withheld or Holdcoconditioned), as the case may be, neither Holdco nor FLAC SPAC shall not (other than changes that are solely ministerial) permit any amendment or modification to be made to, permit any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC SPAC shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC SPAC shall give each other the Company prompt written notice: notice (ia) of the receipt of any request from a PIPE Investor for an requested amendment to any Subscription Agreement; , (iib) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance thatdefault, to the knowledge of Holdco or FLACSPAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; , (iiic) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual actual, or to the knowledge of SPAC, potential, threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investor; or any provisions of any Subscription Agreement, and (ivd) if Holdco SPAC does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms. (b) Notwithstanding any other provision of this Agreement, SPAC agrees, for the benefit of the Company, to take all necessary, legally available steps to enforce against any Investor the terms of that Investor’s Subscription Agreement if the Investor is in material breach of its obligations thereunder, including any breach caused by the Investor’s failure to fund its Subscription Amount (as defined in its Subscription Agreement) at the time and in the amount required pursuant to its Subscription Agreement.

Appears in 1 contract

Samples: Business Combination Agreement (Phoenix Biotech Acquisition Corp.)

PIPE Subscriptions. Unless otherwise approved in writing by FLAC the Company (which approval shall not be unreasonably conditioned, withheld, delayed or Holdcodenied), as and except for any of the case may befollowing actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, neither Holdco nor FLAC reduce the Committed PIPE Investment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of any such permitted assignment or transfer, the initial party to such Subscription Agreement shall remain remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares shares of Acquiror Common Stock and Acquiror Convertible Preferred Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC Acquiror shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco Acquiror (a) shall use its reasonable best efforts, and FLAC shall instruct its representatives to, keep the Company and its representatives reasonably informed with respect to the PIPE Investment and the rotation of the shares of Acquiror Common Stock during the period from the date hereof through Closing and (b) shall give each other the Company, prompt written notice: (i) of the receipt of any request from a PIPE Investor for an amendment to any Subscription Agreement; (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance that, to the knowledge of Holdco or FLAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription AgreementAgreement known to Acquiror; (iiiii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual or actual, potential, threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investoror any provisions of any Subscription Agreement; and (iviii) if Holdco Acquiror does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Investment Amount on the terms and in the manner contemplated by the Subscription Agreement in accordance with its termsAgreements.

Appears in 1 contract

Samples: Merger Agreement (M3-Brigade Acquisition II Corp.)

PIPE Subscriptions. Unless otherwise approved (a) Prior to the Closing, SPAC and/or the Company may execute Subscription Agreements with potential sources of PIPE Financing. The Company agrees, and shall cause the appropriate officers and employees thereof, to use commercially reasonable efforts to cooperate in writing connection with the arrangement of such PIPE Financing (including the satisfaction of the conditions precedent set forth therein) as may be reasonably requested by FLAC SPAC, including by (a) participating in a reasonable number of meetings, presentations, due diligence sessions, drafting sessions and sessions with rating agencies at mutually agreeable times and locations and upon reasonable advance notice, (b) assisting with the preparation of customary materials for actual and potential investors, rating agency presentations, offering documents, private placement memoranda, bank information memoranda, prospectuses and similar documents required in connection with such financing (which shall not include pro forma financial information); provided, that, the Company shall have the right to review and approve (which approval shall not be unreasonably conditioned, withheld or Holdcodelayed) any such materials prior to their distribution, as the case may be(c) executing and delivering any pledge and security documents, neither Holdco nor FLAC shall permit any amendment or modification to be made to, any waiver (in whole or in part) ofother definitive financing documents, or provide consent to modify (including consent to terminate), any provision or remedy underother certificates, or any replacements ofdocuments as may be reasonably requested by SPAC or otherwise reasonably facilitating the pledging of collateral, any provided, that, such documents will not take effect until the Closing, (d) taking or appointing a representative of SPAC to take all corporate actions, subject to the occurrence of the Subscription AgreementsClosing, reasonably requested by SPAC to permit the consummation of the PIPE Financing immediately prior to or following the Closing Date, (e) providing the Company Financial Statements and such other financial information regarding the Company that is readily available or within the Company’s possession and as is reasonably requested in each caseconnection with arrangement of such financing, (f) executing and delivering reasonable and customary certificates and other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided that, in the case of documentation required by any such permitted assignment equity investor and the subscription agreement, provided, that no such certificates, letters or transfer, the initial party to such Subscription Agreement other documentation shall remain bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Holdco Shares contemplated thereby. Subject be effective prior to the immediately preceding sentence consummation of the transactions contemplated by the subscription agreement, (g) furnishing SPAC with all documentation and other information required by bank regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including the Patriot Act and (h) otherwise reasonably cooperating in the event that all conditions in the Subscription Agreements have been satisfied, each of Holdco and FLAC SPAC’s efforts to obtain such PIPE Financing. (b) SPAC shall use its respective reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Holdco the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Without limiting the generality of the foregoing, Holdco and FLAC SPAC shall give each other the Company prompt written notice: notice (i) of the receipt of any request from a PIPE Investor for an requested amendment to any Subscription Agreement; , (ii) of any material breach or material default to the knowledge of Holdco or FLAC, as the case may be (or any event or circumstance thatdefault, to the knowledge of Holdco or FLACSPAC, as the case may be, with or without notice, lapse of time or both, would be reasonably likely to give rise to any such breach or default) by any party to any Subscription Agreement; , (iii) of the receipt by Holdco or FLAC of any written notice or other written communication from any PIPE Investor party to any Subscription Agreement with respect to any actual actual, or to the knowledge of SPAC, potential, threatened or claimed expiration, lapse, withdrawal, breach, default, termination or repudiation of the by any party to any Subscription Agreement by such PIPE Investor; or any provisions of any Subscription Agreement, and (iv) if Holdco SPAC does not expect to receive all or any portion of the applicable purchase price under any PIPE Investor’s Subscription Agreement in accordance with its terms. (c) Notwithstanding any other provision of this Agreement, SPAC agrees, for the benefit of the Company, to take all necessary, legally available steps to enforce against any Investor the terms of that Investor’s Subscription Agreement if the Investor is in material breach of its obligations thereunder, including any breach caused by the Investor’s failure to fund its Subscription Amount (as defined in its Subscription Agreement) at the time and in the amount required pursuant to its Subscription Agreement.

Appears in 1 contract

Samples: Business Combination Agreement (Atlantic Coastal Acquisition Corp. II)

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