Common use of Representative Private Placement Units Clause in Contracts

Representative Private Placement Units. US Tiger will not sell, transfer, assign, pledge or hypothecate any Representative Private Placement Units it receives or has an interest in, or cause the Private Placement Units to be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the Founder Shares by any person, for a period of 180 days (pursuant to Rule 5110(e)(1) of the Conduct Rules of FINRA) beginning on the date of commencement of sales of the Offering to anyone other than (i) the Representatives or an underwriter or selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representatives or of any such underwriter or selected dealer. Thereafter, transfers to others may be made subject to compliance with or exemptions from applicable securities laws. The Warrants and Rights underlying the Private Placement Units that are to be received by US Tiger are not exercisable, exchangeable or convertible for more than five years from the commencement of sales of this offering. US Tiger further agrees to vote in favor of any initial Business Combination presented to the Company’s stockholders.