Common use of SPAC Private Placement Warrant Transfer Clause in Contracts

SPAC Private Placement Warrant Transfer. Sponsor hereby agrees that following the consummation of the Share Cancellation but immediately prior to the Second Merger Effective Time and subject to consummation of the Second Merger, 2,050,000 SPAC Private Placement Warrants held by Sponsor shall be transferred to the Company Shareholders for no consideration and effective as of the Second Merger Effective Time.