Dissenting SPAC Shares definition

Dissenting SPAC Shares means SPAC Shares that are (i) issued and outstanding immediately prior to the First Effective Time and (ii) held by SPAC Shareholders who have validly exercised their Cayman Dissent Rights (and not waived, withdrawn, lost or failed to perfect such rights).

Dissenting SPAC Shares has the meaning specified in Section 2.09(g).

Examples of Dissenting SPAC Shares in a sentence

• At the hearing of such petition, the Cayman Court shall determine the fair value of the Dissenting SPAC Shares to be paid to each Dissenting SPAC Shareholder.

• The SPAC Shares owned by any SPAC Shareholder who fails to perfect or who effectively withdraws or otherwise loses his, her or its dissenters’ rights pursuant to the Cayman Act shall cease to be Dissenting SPAC Shares and shall thereupon be deemed to have been converted into, and to have become exchangeable for, as of the First Effective Time, the right to receive the applicable Merger Consideration, without any interest thereon in accordance with Section 2.3(c).

• If the Dissenting SPAC Shareholders do not agree with the fair value determined by the Vision Deal Board and file a petition with the Cayman Court for a determination of the fair value of the Dissenting SPAC Shares, the Cayman Court will determine the fair value of the Dissenting SPAC Shares as at the date of the EGM at which the Merger is approved.

• What ZCL is doing in Water & Wastewater is to bring the relatively new technology of fiberglass reinforced plastic (FRP) storage vessels to the large existing market for underground storage tanks that is currently dominated by concrete.

• The SPAC Shares held by Dissenting SPAC Shareholders who fail to perfect in accordance with the prescribed statutory procedure or withdraw or otherwise lose their Appraisal Rights under the Cayman Companies Act will cease to be Dissenting SPAC Shares and will be deemed to have been converted into the right to receive newly issued Successor Company Shares immediately following the Effective Time pursuant to the Business Combination Agreement.

• The SPAC Shares held by Dissenting SPAC Shareholders who fail to perfect in accordance with the prescribed statutory procedure or who effectively withdraw or otherwise lose their Appraisal Rights under the Cayman Companies Act will cease to be Dissenting SPAC Shares and will be deemed to have been converted into the right to receive newly issued Successor Company Shares upon the Merger becomes effective pursuant to the Business Combination Agreement.

• Payment for Services performed pursuant to a Purchase Order issued hereunder shall be made in accordance with the terms specified in such Purchase Order.

• If the Dissenting SPAC Shareholder does not agree with the Purchase Price Offer, Vision Deal or the Successor Company (as applicable) will, and the Dissenting SPAC Shareholder may, file a petition with the Grand Court of the Cayman Islands (the “ Cayman Court”) for a determination of the fair value of the Dissenting SPAC Shares of all Dissenting SPAC Shareholders.