Common use of Sponsor Warrants Clause in Contracts

Sponsor Warrants. The Sponsor Warrants will be issued in the same form as the Public Warrants but they (i) will not be transferable or salable until 30 days after the Company completes an acquisition, share exchange, share reconstruction and amalgamation or contractual control arrangement with, purchase of all or substantially all of the assets of, or any other similar business transactions with operating businesses or assets (a “Business Transaction”), (ii) will be exercisable on a cashless basis so long as they are held by the Sponsor or its affiliates, (iii) will not be redeemable by the Company so long as they are held by the Sponsor or its affiliates and (iv) may be exercised for unregistered shares if a registration statement relating to the Ordinary Shares issuable upon exercise of the Warrants is not effective and current, subject to Section 3.3.2 (ii) herein.