Common use of Trust Account Proceeds Clause in Contracts

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

Appears in 69 contracts

Samples: Underwriting Agreement (Makara Strategic Acquisition Corp.), Underwriting Agreement (Murphy Canyon Acquisition Corp.), Underwriting Agreement (Murphy Canyon Acquisition Corp.)

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Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination by the Termination Date (as required by its Charter Documents (the “Termination Date”defined in Section 7.6), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company and to fund the Company’s working capital requirements, all as more fully described in the Prospectus.

Appears in 11 contracts

Samples: Underwriting Agreement (Pacific Special Acquisition Corp.), Underwriting Agreement (Pacific Special Acquisition Corp.), Underwriting Agreement (Arowana Inc.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination by the Termination Date (as required by its Charter Documents (the “Termination Date”defined in Section 7.6), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company and to fund the Company’s working capital corporate requirements, all as more fully described in the ProspectusProspectus (as defined in Section 2.1.1).

Appears in 7 contracts

Samples: Underwriting Agreement (Cambridge Capital Acquisition Corp), Underwriting Agreement (Cambridge Capital Acquisition Corp), Underwriting Agreement (Quartet Merger Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the CompanyCompany and up to $50,000 to pay dissolution expenses, all as more fully described in the Prospectus.

Appears in 7 contracts

Samples: Underwriting Agreement (Distoken Acquisition Corp), Underwriting Agreement (Distoken Acquisition Corp), Underwriting Agreement (Distoken Acquisition Corp)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the CompanyCompany and up to $100,000 to pay dissolution expenses, all as more fully described in the Prospectus.

Appears in 6 contracts

Samples: Underwriting Agreement (LIV Capital Acquisition Corp. II), Underwriting Agreement (LIV Capital Acquisition Corp. II), Underwriting Agreement (LIV Capital Acquisition Corp. II)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a an Initial Business Combination as required Transaction by its Charter Documents (the Termination Date”), (i) interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company and (ii) interest income on the funds held in the Trust Account may be released to the Company from the Trust Account to fund the Company’s working capital and general corporate requirements, all as more fully described in the Prospectus.

Appears in 6 contracts

Samples: Underwriting Agreement (COMMITTED CAPITAL ACQUISITION Corp II), Underwriting Agreement (COMMITTED CAPITAL ACQUISITION Corp II), Underwriting Agreement (COMMITTED CAPITAL ACQUISITION Corp II)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the Termination Date”), funds may be released to the Company from the Trust Account in accordance with the Trust Agreement to purchase Subunits and interest income earned on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to (i) pay any taxes incurred by the Company and (ii) to fund the Company’s working capital and general corporate requirements, all as more fully described in the Prospectus.

Appears in 5 contracts

Samples: Underwriting Agreement (China VantagePoint Acquisition Co), Underwriting Agreement (China VantagePoint Acquisition Co), Underwriting Agreement (China VantagePoint Acquisition Co)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the CompanyCompany and up to $100,000 of accrued interest to pay dissolution costs and expenses, all as more fully described in the Prospectus.

Appears in 5 contracts

Samples: Underwriting Agreement (Relativity Acquisition Corp), Underwriting Agreement (Relativity Acquisition Corp), Underwriting Agreement (Western Acquisition Ventures Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in accordance with the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”)Trust Agreement, interest income on the funds held in the Trust Account may be released to the Company from the Trust Account only in accordance with the terms of the Trust Agreement to pay any taxes incurred by the CompanyCompany and up to $100,000 for liquidation and dissolution expenses, all as more fully described in the Prospectus.

Appears in 4 contracts

Samples: Underwriting Agreement (Tavia Acquisition Corp.), Underwriting Agreement (Range Capital Acquisition Corp.), Underwriting Agreement (RF Acquisition Corp II)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account only in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

Appears in 4 contracts

Samples: Underwriting Agreement (Keyarch Acquisition Corp), Underwriting Agreement (Keyarch Acquisition Corp), Underwriting Agreement (ROC Energy Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account Account, in the event the Company has not completed a Business Combination as required by its Charter Documents (as defined in Section 2.11 below) (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the CompanyCompany and up to $100,000 of accrued interest to pay dissolution costs and expenses, all as more fully described in the Prospectus.

Appears in 3 contracts

Samples: Underwriting Agreement (Ribbon Acquisition Corp.), Underwriting Agreement (DT Cloud Star Acquisition Corp), Underwriting Agreement (DT Cloud Star Acquisition Corp)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the Termination Date”), (i) interest earned on the funds held in the Trust Account may be released to the Company from the Trust Account to pay any taxes incurred by the Company and (ii) any remaining interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by fund the Company’s working capital requirements, all as more fully described in the Prospectus.

Appears in 3 contracts

Samples: Underwriting Agreement (Andina Acquisition Corp. II), Underwriting Agreement (Andina Acquisition Corp. II), Underwriting Agreement (Andina Acquisition Corp. II)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (as defined in Section 2.11 below) (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

Appears in 3 contracts

Samples: Underwriting Agreement (Black Mountain Acquisition Corp.), Underwriting Agreement (Adit EdTech Acquisition Corp.), Underwriting Agreement (Adit EdTech Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (as defined in Section 2.11 below) (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the CompanyCompany and up to $100,000 of accrued interest to pay dissolution costs and expenses, all as more fully described in the Prospectus.

Appears in 3 contracts

Samples: Underwriting Agreement (Bukit Jalil Global Acquisition 1 Ltd.), Underwriting Agreement (Bukit Jalil Global Acquisition 1 Ltd.), Underwriting Agreement (Bukit Jalil Global Acquisition 1 Ltd.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, and up to $100,000 to pay dissolution expenses, all as more fully described in the Prospectus.

Appears in 2 contracts

Samples: Underwriting Agreement (European Sustainable Growth Acquisition Corp.), Underwriting Agreement (European Sustainable Growth Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required provided by its Charter Documents Certificate of Incorporation, as amended (such date being referred to as the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company and to fund the Company’s working capital requirements, all as more fully described in the Prospectus.

Appears in 2 contracts

Samples: Underwriting Agreement (Barington/Hilco Acquisition Corp.), Underwriting Agreement (Barington/Hilco Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the CompanyCompany and up to $50,000 to pay for the liquidation expenses, all as more fully described in the Prospectus.

Appears in 2 contracts

Samples: Underwriting Agreement (DD3 Acquisition Corp.), Underwriting Agreement (DD3 Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents Document (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

Appears in 2 contracts

Samples: Underwriting Agreement (Gesher I Acquisition Corp.), Underwriting Agreement (Gesher I Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination by the date set forth in the Company’s Amended and Restated Certificate of Incorporation as required by its Charter Documents the same may be amended from time to time (such date being referred to as the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any income taxes incurred by the Company, all as more fully described in the Prospectus.

Appears in 2 contracts

Samples: Underwriting Agreement (KLR Energy Acquisition Corp.), Underwriting Agreement (KLR Energy Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event if the Company has not completed a Business Combination as required by its Charter Documents (as defined in Section 2.11 below) (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account only in accordance with the terms of the Trust Agreement to pay any taxes incurred by the CompanyCompany and up to $100,000 for liquidation and dissolution expenses, all as more fully described in the Prospectus.

Appears in 2 contracts

Samples: Underwriting Agreement (Bowen Acquisition Corp), Underwriting Agreement (Bowen Acquisition Corp)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the ProspectusRegistration Statement (as hereinafter defined).

Appears in 2 contracts

Samples: Underwriting Agreement (Energy Cloud I Acquisition Corp), Underwriting Agreement (Energy Cloud I Acquisition Corp)

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Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event if the Company has not completed a Business Combination as required by its Charter Documents (as defined in Section 2.11 below) (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account only in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

Appears in 2 contracts

Samples: Underwriting Agreement (Dorchester Capital Acquisition Corp.), Underwriting Agreement (Dorchester Capital Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination by the date set forth in the Company’s Amended and Restated Certificate of Incorporation as required by its Charter Documents the same may be amended from time to time (such date being referred to as the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

Appears in 1 contract

Samples: Underwriting Agreement (KLR Energy Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event if the Company has not completed a Business Combination as required by its Charter Documents (as defined in Section 2.11 below) (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account only in accordance with the terms of the Trust Agreement to pay any taxes (other than excise taxes) incurred by the Company, for working capital previously released to the Company and up to $100,000 for liquidation and dissolution expenses, all as more fully described in the Prospectus.

Appears in 1 contract

Samples: Underwriting Agreement (Calisa Acquisition Corp)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.. EarlyBirdCapital, Inc.February 10, 2021Page 6 of 41

Appears in 1 contract

Samples: Underwriting Agreement (Goal Acquisitions Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination by the Termination Date (as required by its Charter Documents (the “Termination Date”defined in Section 7.6), (i) interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by income, franchise or other tax obligations of the Company and (ii) interest income on the funds held in the Trust Account may be released to the Company from the Trust Account to fund the Company’s working capital and general corporate requirements, all as more fully described in the ProspectusProspectus (as defined in Section 2.1.1).

Appears in 1 contract

Samples: Underwriting Agreement (Hf2 Financial Management Inc.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.. 2. Representations and Warranties of the Company. The Company represents and warrants to the Underwriters as follows:

Appears in 1 contract

Samples: Underwriting Agreement (Ignyte Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination by the Termination Date (as required by its Charter Documents (the “Termination Date”defined in Section 7.6), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company and to fund the Company’s working capital corporate requirements, all as more fully described in the Prospectus.

Appears in 1 contract

Samples: Underwriting Agreement (DT Asia Investments LTD)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to (i) purchase Subunits, (ii) pay any taxes incurred by the Company and (iii) to fund the Company’s working capital and general corporate requirements, all as more fully described in the Prospectus.

Appears in 1 contract

Samples: Underwriting Agreement (China VantagePoint Acquisition Co)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.. EarlyBirdCapital, Inc.__________, 2021Page 6 of 41

Appears in 1 contract

Samples: Underwriting Agreement (Goal Acquisitions Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.. Page 6 of 45

Appears in 1 contract

Samples: Underwriting Agreement (Bite Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event if the Company has not completed a Business Combination as required by its Charter Documents (as defined in Section 2.11 below) (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account only in accordance with the terms of the Trust Agreement to pay any taxes incurred by the CompanyCompany and up to $100,000 for dissolution expenses, all as more fully described in the Prospectus.

Appears in 1 contract

Samples: Underwriting Agreement (AlphaVest Acquisition Corp.)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the Termination Date”), (i) interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company and (ii) interest income on the funds held in the Trust Account of up to an additional $500,000 may be released to the Company from the Trust Account to fund the Company’s working capital requirements, all as more fully described in the Prospectus.

Appears in 1 contract

Samples: Underwriting Agreement (Garnero Group Acquisition Co)

Trust Account Proceeds. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.. EarlyBirdCapital, Inc. , 2020 Page 6 of 45

Appears in 1 contract

Samples: Underwriting Agreement (Brilliant Acquisition Corp)

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