Available SPAC Cash definition

Available SPAC Cash means:
Sample 1Sample 2
Available SPAC Cash means an amount equal to the sum of (a) the gross amount of cash available in the Trust Account following the SPAC Stockholders’ Meeting (after deducting the amount required to satisfy the SPAC Stockholder Redemption Amount) plus (b) the aggregate gross amount of Permitted Financing Proceeds that have been funded, or that will be funded, in connection with the Closing.
Sample 1
Available SPAC Cash has the meaning specified in Section 9.3(c).
Sample 1

Examples of Available SPAC Cash in a sentence

  • The Available SPAC Cash shall be no less than the Minimum Available SPAC Cash Amount.

  • For the avoidance of doubt, if the Available SPAC Cash is equal to, or greater than, the Minimum Available SPAC Cash Amount, no forfeiture of the Sponsor Founder Shares or Sponsor Founder Warrants shall be required pursuant to this Section 6.1, and the terms, “Sponsor Non-Forfeited Shares” and “Sponsor Non-Forfeited Warrants”, shall in such case refer to “Sponsor Founder Shares” and “Sponsor Founder Warrants”, respectively.

  • The Company hereby irrevocably and unconditionally waives the condition set forth in Section 9.03(d) of the Agreement, which states that the Available SPAC Cash shall be no less than the Minimum Available SPAC Cash Amount.


More Definitions of Available SPAC Cash

Available SPAC Cash means: • The amount of cash available in Horizon’s trust account at Closing after satisfaction of any redemptions (but prior to payment of any deferred underwriting commissions or certain transaction expenses); plus • The PIPE Investment actually received prior to or substantially concurrently with the Closing, including, if necessary, the Eldridge Back-Stop Amount (as defined below). In connection with the execution of the BCA, the Sponsor has executed a Non-Redemption and Support Agreement pursuant to which the Sponsor has agreed not to redeem the $155,000,000 of Horizon Class A Stock it currently holds. See “Certain Related Agreements– Sponsor Support Agreement” below. In addition, Eldridge has agreed to invest up to $145,000,000 pursuant to the Back-Stop Letter Agreement. See “Certain Related Agreements – PIPE Investment and Back-Stop Letter Agreement” below. The holders of Horizon Class A Stock have redemption rights in connection with the Business Combination and also in connection with the pending proposal (the “Extension Amendment Proposal”) to amend Horizon’s organizational documents to extend the period of time Horizon is afforded under its organizational documents and its prospectus dated October 19, 2020 and filed with the Securities and Exchange Commission (“SEC”) on October 21, 2020 to consummate an initial business combination (the “SPAC Business Combination Deadline”), as proposed by Horizon in its definitive proxy statement filed with the SEC on August 26, 2022. Termination The BCA may be terminated under the following circumstances prior to the Redomestication Merger:
Sample 1

Related to Available SPAC Cash

  • Available Facility Amount shall have the meaning specified in paragraph 2B(1).

  • Available RP Capacity Amount means (i) the amount of Restricted Payments that may be made at the time of determination pursuant to Sections 7.06(d), (g), (h) and (l) minus (ii) the sum of the amount of the Available RP Capacity Amount utilized by the Borrower or any Restricted Subsidiary to (A) make Restricted Payments in reliance on Sections 7.06 (g), (h) or (l), (B) incur Liens pursuant to Section 7.01(bb), (C) make Investments pursuant to Section 7.02(n), (D) incur Indebtedness pursuant to Section 7.03(y) and (E) make prepayments, redemptions, purchases, defeasances and other payments in respect of Junior Financings prior to their scheduled maturity utilizing the Available RP Capacity Amount pursuant to Section 7.13 plus (iii) the aggregate principal amount of Indebtedness prepaid prior to or substantially concurrently at such time, solely to the extent such Indebtedness (A) was secured by Liens pursuant to Section 7.01(bb) or (B) was incurred pursuant to Section 7.03(y) and not secured pursuant to Section 7.01(bb) (it being understood that the amount under this clause (iii) shall only be available for use under Sections 7.01(bb) and/or 7.03(y), as applicable).

  • Reference Balance Sheet shall have the meaning set forth in Section 3.06(a).

  • Net Available Cash from an Asset Disposition means cash payments received (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and net proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring person of Indebtedness or other obligations relating to the properties or assets that are the subject of such Asset Disposition or received in any other non-cash form) therefrom, in each case net of:

  • Excess Cash Flow Payment Period means, with respect to any Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Available Facility means, in relation to a Facility, the aggregate for the time being of each Lender's Available Commitment in respect of that Facility.

  • Cumulative Retained Excess Cash Flow Amount means, at any date of determination, an amount equal to the aggregate cumulative sum of the Retained Percentage of Excess Cash Flow for the Excess Cash Flow Periods ended on or prior to such date.