Common use of WAIVER OF CLAIMS TO TRUST ACCOUNT Clause in Contracts

WAIVER OF CLAIMS TO TRUST ACCOUNT. Notwithstanding anything contained herein to the contrary, the Indemnitee hereby (i) agrees that it does not have any right, title, interest or claim of any kind (each, a “Claim”) in or to any monies in the trust account established in connection with the Company’s initial public offering (the “IPO”) for the benefit of the public shareholders of the Company and into which substantially all of the proceeds of the Company’s IPO will be deposited (the “Trust Account”), (ii) irrevocably waives any Claim it presently has or may have in the future as a result of, or arising out of, any services provided by the Indemnitee to the Company, which Claim would reduce, encumber, or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account and (iii) agrees that it will not seek recourse against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever. Accordingly, the Indemnitee acknowledges and agrees that any indemnification provided hereto will only be able to be satisfied by the Company if the Company (i) has sufficient funds outside of the Trust Account to satisfy its obligations hereunder or (ii) consummates a Business Combination.