Common use of Redemption and Liquidation Clause in Contracts

Redemption and Liquidation. The Purchaser hereby waives, with respect to any Forward Purchase Shares held by it, any redemption rights it may have in connection with (i) the consummation of the initial Business Combination, including, without limitation, any such rights available in the context of a stockholder vote to approve such Business Combination and (ii) any stockholder vote to approve an amendment to the Charter to modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of the Class A Shares sold in the IPO if the Company has not consummated an initial Business Combination within 24 months from the IPO Closing, or 27 months from the IPO Closing if the Company has executed a letter of intent, agreement in principle or definitive agreement for an initial Business Combination within 24 months from the IPO Closing (or such later date as has been approved by an amendment to the Charter) or in the context of a tender offer made by the Company to purchase Class A Shares, it being understood that the Purchaser shall be entitled to redemption and liquidation rights with respect to any Public Shares held by it.

Appears in 6 contracts

Samples: Forward Purchase Agreement (Khosla Ventures Acquisition Co. IV), Forward Purchase Agreement (Khosla Ventures Acquisition Co. III), Forward Purchase Agreement (Khosla Ventures Acquisition Co. II)

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Redemption and Liquidation. The Purchaser Purchasers hereby waiveswaive, with respect to any Forward Purchase Shares held by it, any redemption rights it may have in connection with (i) the consummation of the initial Business Combination, including, without limitation, any such rights available in the context of a stockholder vote to approve such Business Combination and (ii) any stockholder vote to approve an amendment to the Charter to modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of the Class A Shares sold in the IPO if the Company has not consummated an initial Business Combination within 24 months from the IPO Closing, or 27 months from the IPO Closing if the Company has executed a letter of intent, agreement in principle or definitive agreement for an initial Business Combination within 24 months from the IPO Closing (or such later date as has been approved by an amendment to the Charter) or in the context of a tender offer made by the Company to purchase Class A Shares, it being understood that the Purchaser Purchasers shall be entitled to redemption and liquidation rights with respect to any Public Shares held by itthem.

Appears in 2 contracts

Samples: Forward Purchase Agreement (Lux Health Tech Acquisition Corp.), Forward Purchase Agreement (Lux Health Tech Acquisition Corp.)

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Redemption and Liquidation. The Purchaser Purchasers hereby waiveswaive, with respect to any Forward Purchase Shares held by it, any redemption rights it may have in connection with (i) the consummation of the initial Business Combination, including, without limitation, any such rights available in the context of a stockholder vote to approve such Business Combination and (ii) any stockholder vote to approve an amendment to the Charter to modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of the Class A Shares sold in the IPO if the Company has not consummated an initial Business Combination within 24 months from the IPO Closing, or 27 months from the IPO Closing if the Company has executed a letter of intent, agreement in principle or definitive agreement for an initial Business Combination within 24 months from the IPO Closing (or such later date as has been approved by an amendment to the Charter) or in the context of a tender offer made by the Company to purchase Class A Shares, it being understood that the Purchaser Purchasers shall be entitled to redemption and liquidation rights with respect to any Public Shares held by itthem.

Appears in 1 contract

Samples: Forward Purchase Agreement (Khosla Ventures Acquisition Co.)

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