Common use of Warrants Purchase Agreement Clause in Contracts

Warrants Purchase Agreement. The Sponsor has executed and delivered a private placement warrants agreement, which is annexed as an exhibit to the Registration Statement (the “Warrants Purchase Agreement”), pursuant to which the Sponsor will, among other things, on the Closing Date, consummate the purchase of and deliver the purchase price for the Placement Warrants purchased in the Warrant Private Placement. Pursuant to the Warrants Purchase Agreement, (i) the Sponsor has waived any and all rights and claims it may have to any proceeds, and any interest thereon, held in the Trust Account in respect of the Placement Securities, and (ii) the proceeds from the sale of the Placement Warrants will be deposited by the Company in the Trust Account in accordance with the terms of the Trust Agreement on the Closing Date and Option Closing Date (if any) as provided for in the Warrants Purchase Agreement.