Common use of Use of Funds in Trust Account Clause in Contracts

Use of Funds in Trust Account. During the period prior to the Company’s initial Business Combination or Liquidation, the Company may instruct the Trustee to release from the Trust Account, (i) solely from interest income earned on the funds held in the Trust Account, the amounts necessary to pay the Company’s tax obligations, if any, and (ii) to pay public shareholders (the “Public Shareholders”) who properly redeem their Public Shares (as defined in section 4(gg) herein) in connection with a Shareholder vote to approve an amendment to the Company’s Amended and Restated Memorandum and Articles of Association (x) to modify the substance or timing of the Company’s obligation to allow redemptions in connection with its initial Business Combination or to redeem 100% of the outstanding Public Shares if the Company has not consummated an initial Business Combination within 12 months (or 15 months, as applicable) from the closing of the Offering or (y) with respect to any other provision relating to Shareholders’ rights or pre-initial Business Combination activity. Otherwise, all funds held in the Trust Account (including any interest income earned on the amounts held in the Trust Account (net of taxes payable thereon in accordance with the preceding sentence)) will remain in the Trust Account until the earlier of the consummation of the Company’s initial Business Combination and the Liquidation; provided, however, that in the event of the Liquidation, up to $50,000 of interest income may be released to the Company if the proceeds of the Offering held by the Company outside of the Trust Account are not sufficient to cover the costs and expenses associated with implementing the Company’s plan of dissolution.

Use of Funds in Trust Account. During the period prior to the Company’s initial Business Combination or Liquidation, the Company may instruct the Trustee to release from the Trust Account, (i) solely from interest income earned on the funds held in the Trust Account, the amounts necessary to pay the Company’s tax obligationstaxes, if any, and (ii) to pay public shareholders (the “Public Shareholders”) Shareholders who properly redeem their Public Shares (as defined in section 4(gg) hereinbelow) in connection with a Shareholder shareholder vote to approve an amendment to the Company’s Amended and Restated Memorandum and Articles of Association (xA) to modify the substance or timing of the Company’s obligation to allow redemptions provide holders of the Ordinary Shares the right to have their shares redeemed in connection with its the Company’s initial Business Combination or to redeem 100% of the outstanding Company’s Public Shares if the Company has does not consummated an complete their initial Business Combination within 12 (i) 15 months (or 15 months, as applicable) from the closing of the Offering or (yii) up to 18 months or 21 months from the closing of the Offering if the Sponsor has extended the period of time for the Company to consummate its initial Business Combination by depositing additional funds into the Trust Account pursuant to the Amended and Restated Memorandum and Articles of Association and the Trust Agreement or (B) with respect to any other provision relating to Shareholders’ the rights or pre-initial Business Combination activityof holders of the Ordinary Shares. Otherwise, all funds held in the Trust Account (including any interest income earned on the amounts held in the Trust Account (net of taxes payable thereon in accordance with the preceding sentence)) will remain in the Trust Account until the earlier of the consummation of the Company’s initial Business Combination and the Liquidation; provided, however, that in the event of the Liquidation, up to $50,000 100,000 of interest income may be released to the Company if the proceeds of the Offering held by the Company outside of the Trust Account are not sufficient to cover the costs and expenses associated with implementing the Company’s plan of dissolution.

Use of Funds in Trust Account. During the period prior to the Company’s initial Business Combination or Liquidation, the Company may instruct the Trustee to release from the Trust Account, (i) solely from interest income earned on the funds held in the Trust Account, the amounts necessary to pay the Company’s tax obligationstaxes, if any, and (ii) to pay public shareholders (the “Public Shareholders”) Stockholders who properly redeem their Public Class A Ordinary Shares (as defined in section 4(gg) herein) in connection with a Shareholder shareholder vote to approve an amendment to the Company’s Amended and Restated Memorandum and Articles of Association (x) to modify the substance or timing of the Company’s obligation to allow redemptions redemption in connection with its initial Business Combination or to redeem 100% of the outstanding Class A Ordinary Shares held by the Public Shares Stockholders if the Company has not consummated an initial Business Combination within 12 months (or 15 monthsthe time period provided in the Company’s Amended and Restated Memorandum and Articles of Association, as applicable) from the closing of the Offering such time period may be extended or (y) with respect to any other provision relating to Shareholdersshareholders’ rights or pre-initial Business Combination activity. Otherwise, all funds held in the Trust Account (including any interest income earned on the amounts held in the Trust Account (net of taxes payable thereon in accordance with the preceding sentence)) will remain in the Trust Account until the earlier of the consummation of the Company’s initial Business Combination and the Liquidation; provided, however, that in the event of the Liquidation, up to $50,000 100,000 of interest income may be released to the Company if the proceeds of the Offering held by the Company outside of the Trust Account are not sufficient to cover the costs and expenses associated with implementing the Company’s plan of dissolution.

Use of Funds in Trust Account. During the period prior to the Company’s initial Business Combination or Liquidation, the Company may instruct the Trustee to release from the Trust Account, (i) solely from interest income earned on the funds held in the Trust Account, the amounts necessary to pay the Company’s tax obligationstaxes, if any, and (ii) to pay public shareholders (the “Public Shareholders”) Stockholders who properly redeem their Public Shares (as defined in section 4(gg) hereinbelow) in connection with a Shareholder stockholder vote to approve an amendment to the Company’s Amended and Restated Memorandum and Articles of Association (x) to modify the substance or timing of the Company’s obligation to allow redemptions in connection with its initial Business Combination or to redeem 100% of the outstanding Public Shares if the Company has does not consummated consummate an initial Business Combination within 12 24 months (from the closing of the Offering or 15 months27 months from the closing of the Offering if the Company has executed a letter of intent, as applicable) agreement in principle or definitive agreement for an initial business combination within 24 months from the closing of the Offering or (y) with respect to any other provision relating to Shareholders’ which adversely affects the rights or pre-initial Business Combination activityof Public Stockholders. Otherwise, all funds held in the Trust Account (Account, including any interest income earned on the amounts held in the Trust Account (net of taxes payable thereon in accordance with the preceding sentence)) , will remain in the Trust Account until the earlier of the consummation of the Company’s initial Business Combination and the Liquidation; provided, however, that in the event of the Liquidation, up to $50,000 100,000 of interest income may be released to the Company if the proceeds of the Offering held by the Company outside of the Trust Account are not sufficient to cover the costs and expenses associated with implementing the Company’s plan of dissolution.

Use of Funds in Trust Account. During the period prior to the Company’s initial Business Combination or Liquidation, the Company may instruct the Trustee to release from the Trust Account, (i) solely from interest income earned on the funds held in the Trust Account, the amounts necessary to pay the Company’s tax obligations, if any, and (ii) to pay public shareholders (the “Public Shareholders”) who properly redeem their Public Shares (as defined in section 4(gg) herein) in connection with a Shareholder vote to approve an amendment to the Company’s Amended and Restated Memorandum and Articles of Association (x) to modify the substance or timing of the Company’s obligation to allow redemptions in connection with its initial Business Combination or to redeem 100% of the outstanding Public Shares if the Company has not consummated an initial Business Combination within 12 15 months (or 15 months, as applicable) from the closing of the Offering or (y) with respect to any other provision relating to Shareholders’ rights or pre-initial Business Combination activity. Otherwise, all funds held in the Trust Account (including any interest income earned on the amounts held in the Trust Account (net of taxes payable thereon in accordance with the preceding sentence)) will remain in the Trust Account until the earlier of the consummation of the Company’s initial Business Combination and the Liquidation; provided, however, that in the event of the Liquidation, up to $50,000 of interest income may be released to the Company if the proceeds of the Offering held by the Company outside of the Trust Account are not sufficient to cover the costs and expenses associated with implementing the Company’s plan of dissolution.