SPAC Board definition
Examples of SPAC Board in a sentence
Subject to Section 6.11(h), the SPAC Board shall not change, withdraw, withhold, fail to make, qualify or modify, or publicly propose to change, withdraw, withhold, fail to make, qualify or modify, the SPAC Recommendation, and the SPAC Board Special Committee shall not recommend or publicly propose to recommend to the Board to do any of the foregoing (any of the foregoing, a “Modification in Recommendation”).
The SPAC Board Special Committee, either at a duly called and held meeting or by way of written resolution, has unanimously (i) determined that this Agreement and the Transactions, including the Mergers, are advisable, fair to and in the best interests of SPAC and SPAC’s shareholders in accordance with Cayman Islands Law and (ii) recommended that the SPAC Board approve and adopt this Agreement, the consummation of the Transactions and the performance by SPAC of its obligations hereunder.
Without limiting the generality of the foregoing, SPAC’s requirement to call and hold the SPAC Shareholder Meeting shall not be affected by the commencement, public proposal, public disclosure or communication to SPAC of any Acquisition Proposal or the SPAC Board making a SPAC Change in Recommendation.
Subject to Section 6.9, unless SPAC shall have made a SPAC Change in Recommendation, the SPAC Board shall use its reasonable best efforts to solicit the Required SPAC Shareholder Approval at the SPAC Shareholder Meeting.
Except as otherwise agreed in writing by the Company and SPAC prior to the Closing, and subject to clause (ii) in Section 6.18(a), SPAC shall take all necessary action so that all of the members of the SPAC Board in office prior to the Closing resign, or are otherwise validly removed, effective as of the Merger Effective Time.