Common use of Waiver of Liquidation Distributions; Conversion Rights Clause in Contracts

Waiver of Liquidation Distributions; Conversion Rights. In connection with the Shares purchased pursuant to this Agreement and any other Company securities purchased on a private placement basis prior to or concurrent with the IPO, the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the trust account established by the Company in connection with the IPO (the “Trust Account”), in the event of a liquidation of the Company upon the Company’s failure to timely complete a Business Combination. For purposes of clarity, in the event the Subscriber purchases shares of Common Stock in the IPO or in the aftermarket, any additional shares so purchased shall be eligible to receive any liquidating distributions by the Company. However, in no event will Subscriber have the right to redeem any Shares into funds held in the trust account with the Escrow Agent upon the successful completion of a Business Combination.