Sponsors’ Warrants. The Initial Stockholders acknowledge that the Sponsors’ Warrants are subject to restrictions on exercise and transfer during the Escrow Period as specified in the Warrant Agreement.
Sponsors’ Warrants. The Warrant Agent shall not register any transfer of Sponsor’s Warrants until after the consummation by the Company of an initial Business Combination, except for transfers (i) to the Sponsor’s or the Company’s officers, directors, employees, consultants or their affiliates, (ii) to a holder’s officers, directors, employees or members upon the holder’s liquidation, in each case if the holder is an entity, (iii) by bona fide gift to a member of the holder’s immediate family or to a trust, the beneficiary of which is the holder or a member of the holder’s immediate family for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon death, (v) pursuant to a qualified domestic relations order, (vi) to the Company for no value for cancellation in connection with the consummation of a Business Combination or (vii) in connection with the consummation of a Business Combination, by private sales at prices no greater than the price at which the Sponsor’s Warrants were originally purchased, in each case (except for clause (vi)) on the condition that prior to such registration for transfer, the Warrant Agent shall be presented with written documentation pursuant to which each transferee or the trustee or legal guardian for such transferee agrees to be bound by the terms of the Founder Warrants Purchase Agreement and any other applicable agreement the transferor is bound by.
Sponsors’ Warrants. The Sponsors’ Warrants will be issued in the same form as the Public Warrants but they (i) will not be transferable or salable until the Company completes a business combination (subject to the terms of the Subscription Agreements) and (ii) will be exercisable on a cashless basis and will be non-redeemable by the Company so long as they are held by the Sponsors or their permitted transferees (as described in the Subscription Agreements).
Sponsors’ Warrants. The Sponsors’ Warrants will be issued in the same form as the Public Warrants but they (i) will not be transferable or salable (subject to limited exceptions) until after the Company completes a Business Combination as more fully described in each of the Subscription Agreements, dated as of May 31, 2007, by and between each Sponsor and the Company, Xxxxxxxx Xxxxxx and Citigroup Global Markets Inc. (the “Sponsor Subscription Agreements”) and (ii) will be non-redeemable by the Company so long as they are held by the Sponsors or their permitted transferees (as described in the Sponsor Subscription Agreements).
Sponsors’ Warrants. The Warrant Agent shall not register any transfer of Sponsors’ Warrants until 30 days after the consummation by the Company of an initial Business Combination, except for transfers (i) to the Company’s officers, directors or employees, (ii) to a holder’s officer’s, directors, employees or members upon the holder’s liquidation, in each case if the holder is an entity, (iii) by bona fide gift to a member of the holder’s immediate family or to a trust, the beneficiary of which is the holder or a member of the holder’s immediate family for estate planning purposes, by virtue of the laws of descent and distribution upon death or pursuant to a qualified domestic relations order; (iv) to the Company for no value for cancellation in connection with the consummation of a Business Combination; or (v) by private sales made in connection with the consummation of a Business Combination at prices no greater than the price at which the Sponsors’ Warrants were originally purchased, in each case (except for clause (iv)) on the condition that prior to such registration for transfer, the Warrant Agent shall be presented with written documentation pursuant to which each transferee or the trustee or legal guardian for such transferee agrees to be bound by the terms of the Sponsor Warrants Purchase Agreement.
Sponsors’ Warrants. Each Sponsors' Warrant will be amended and restated to provide for an exercise price of $12.50, a redemption trigger price of $19.50 and an expiration date of November 14, 2013 (the "
Sponsors’ Warrants. The Sponsor’s Warrants will be issued in the same form as the Public Warrants but they (i) will not be transferable or saleable (subject to limited exceptions) until after the Company completes a Business Combination as more fully described in the Subscription Agreement, dated as of August 21, 2007, by and among the Founder, the Company, Xxxx Xxxxxxx, P.C., and Citigroup Global Markets Inc. (the “Sponsor Subscription Agreement”), (ii) will be non-redeemable by the Company so long as they are held by the Founder or its permitted transferees (as described in the Sponsor Subscription Agreement) and (iii) will be exercisable for cash or on a cashless basis by the Founder or its permitted transferees, as described further in Section 3.3 hereof.
Sponsors’ Warrants. The Sponsors’ Warrants will be issued in the same form as the Public Warrants but they (i) will not be transferable or salable until the Company completes a business combination unless transferred in a permitted transfer as described in the Registration Statement, subject to the conditions set forth in Section 5.2 hereto, (ii) will be exercisable on a cashless basis and will be non-redeemable by the Company so long as they are held by the Sponsors or their affiliates and (iii) may be exercised for unregistered shares if a registration statement relating to the common stock issuable upon exercise of the warrants is not effective and current.
