Common use of Redemption and Liquidation Clause in Contracts

Redemption and Liquidation. The Underwriters agree that if the Company seeks shareholder approval of a proposed Business Combination, then in connection with such proposed Business Combination, the Underwriters shall not redeem any Underwriters’ Shares in connection with such shareholder approval. The Underwriters acknowledge that they have no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Underwriters’ Shares. The Underwriters further waive, with respect to the Underwriters’ Shares, any redemption they may have in connection with the consummation of a Business Combination, including, without limitation, any such rights available in the context of a shareholder vote to approve such Business Combination or in the context of a tender offer made by the Company to purchase shares of the Common Stock. The Underwriters shall not transfer any of the Underwriters’ Shares unless the transferee agrees to comply with the provisions of this Section 1.5.3.