Examples of Class B Shares in a sentence
As of the Closing Date, the SPAC will have sufficient authorized but unissued SPAC Class B Shares to meet its obligations under the Exchangeable Shares issued in accordance with Section 2.3(c).
Buyer shall have delivered to Seller an opinion of legal counsel for SPAC as to Exchangeable Shares and SPAC Class B shares regarding, among others, valid issuance of such securities on a fully paid, non-assessable basis, the prospectus exempt issuance (for the SPAC Class B Shares only), and freely-tradable nature of such securities subject to the applicable lockup terms set forth in this Agreement and applicable Law, in the form mutually acceptable to the Parties, acting reasonably.
Xxxxxxxxx to the SPAC Board to serve so long as Seller holds at least forty percent (40%) of the Exchangeable Shares (including the SPAC Class B Shares issued upon conversion or exchange of such Exchangeable Shares) issued to Seller at the Closing pursuant to this Agreement1.