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 taxes, if any, and (ii) to pay Public Stockholders who properly redeem their Public Shares (as defined below) in connection with a stockholder vote to approve an amendment to the Company’s Amended and Restated Certificate of Incorporation (x) to modify the substance or timing of the Company’s obligation to allow redemption 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 18 months from the closing of the Offering (assuming the Sponsor does not exercise its option to extend the period of time the Company will have to consummate an initial Business Combination by up to 6 months) or (y) with respect to any other provision relating to stockholders’ 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 $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 taxes, if any, and (ii) to pay Public Stockholders Shareholders who properly redeem their Public Shares (as defined below) in connection with a stockholder shareholder vote to approve an amendment to the Company’s Amended and Restated Certificate Memorandum and Articles of Incorporation Association (x) to modify the substance or timing of the Company’s obligation to allow redemption 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 18 15 months (or up to within 21 months if the Company extends the period of time to consummate our initial business combination in accordance with the terms described in the Pricing Disclosure Package and the Prospectus) from the closing of the Offering (assuming the Sponsor does not exercise its option to extend the period of time the Company will have to consummate an initial Business Combination by up to 6 months) or (y) with respect to any other provision relating to stockholdersshareholders’ 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 $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 taxesits franchise and income taxes as well as expenses relating to the administration of the Trust Account, if any, and (ii) the amounts necessary to pay Public Stockholders who properly redeem their Public Shares (as defined below) in connection with a stockholder vote to approve an amendment to the Company’s Amended and Restated Certificate of Incorporation (x) to modify the substance or timing of the Company’s obligation to allow redemption in connection with its initial Business Combination or to redeem 100% of the Company’s outstanding Public Shares if the Company has not consummated an initial Business Combination within 18 fifteen months from the closing of the Offering (assuming the Sponsor does not exercise its option to extend the period of time or eighteen months, if the Company will have has an executed letter of intent, agreement in principle or definitive agreement for a business combination prior to consummate an initial Business Combination by up to 6 monthsthe expiration of such fifteen month period) or (y) with respect to any other provision relating to stockholdersPublic Stockholders’ rights or certain pre-initial Business Combination activityactivities. Otherwise, all funds held in the Trust Account (including any interest income earned on the amounts funds held in the Trust Account (net and not previously released to the Company to pay its franchise and income taxes as well as expenses relating to the administration of taxes payable thereon the Trust Account 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 $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 taxesfranchise and income taxes as well as expenses relating to the administration of the Trust Account, if any, and (ii) to pay Public Stockholders Shareholders who properly redeem their Public Shares (as defined below) in connection with a stockholder shareholder vote to approve an amendment to the Company’s Amended and Restated Certificate Memorandum and Articles of Incorporation Association (x) to modify the substance or timing of the Company’s obligation to allow redemption in connection with its initial Business Combination or to redeem 100% of the Company’s outstanding Public Shares if the Company has not consummated an initial Business Combination within 18 months from the closing of the Offering (assuming the Sponsor does not exercise its option or up to extend the period of time 24 months if the Company will have extends the time to consummate complete an initial Initial Business Combination by up to 6 monthsas described in the Prospectus) or (y) with respect to any other provision relating to stockholdersPublic Shareholders’ rights or pre-initial Business Combination activity. Otherwise, all funds held in the Trust Account (including any interest income earned on the amounts funds held in the Trust Account (net and not previously released to the Company to pay its franchise and income taxes as well as expenses relating to the administration of taxes payable thereon the Trust Account 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 $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 taxes, if any, and (ii) to pay Public Stockholders Shareholders who properly redeem their Public Shares (as defined below) in connection with a stockholder shareholder vote to approve an amendment to the Company’s Amended and Restated Certificate Memorandum and Articles of Incorporation Association (the “Charter”) (x) to modify the substance or timing of the Company’s obligation to allow redemption 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 18 months from the closing of the Offering (assuming or up to 24 months if the Sponsor does not exercise its option Company were to extend the period of time the Company will have to consummate an initial Business Combination by up to 6 monthsas described in the Prospectus) or (y) with respect to any other provision relating to stockholdersshareholders’ 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 $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.