Common use of Private Warrants and Working Capital Warrants Clause in Contracts

Private Warrants and Working Capital Warrants. The Private Warrants and Working Capital Warrants will be issued in the same form as the Public Warrants except that so long as they are held by the initial purchasers or any of their permitted transferees (as prescribed in the Subscription Agreement) as applicable, the Private Warrants and the Working Capital Warrants: (i) may be exercised for cash or on a cashless basis, pursuant to subsection 3.3 hereof, and (ii) will not be redeemable by the Company. The Private Warrants may not be sold, transferred, assigned, pledged or hypothecated, or be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of, the Private Warrants (or any securities underlying the Private Warrants) until 30 days following the completion of the Company’s initial business combination (except with respect to permitted transferees as described in the Subscription Agreement). The provisions of this Section 2.6 may not be modified, amended or deleted without the prior written consent of the Representative.