SPAC Closing definition

SPAC Closing means the completion of the transactions contemplated by the business combination agreement and plan of reorganization entered into between Decarbonization Plus Acquisition Corporation III, a Delaware corporation (“DCRC”), DCRC Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of DCRC, and Solid Power, Inc., a Colorado corporation, on June 15, 2021, as hereinafter may be amended by the parties thereto in accordance with its terms.

SPAC Closing means the completion of the transactions contemplated by the business combination agreement and plan of reorganization entered into between Decarbonization Plus Acquisition Corporation III, a Delaware corporation ("DCRC"), DCRC Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of DCRC, and Solid Power, Inc., a Colorado corporation, on June 15, 2021, as hereinafter may be amended by the parties thereto in accordance with its terms.

SPAC Closing means the raising of at least Sixty-Five Million ($65,000,000.00) through a SPAC traded on the American Stock Exchange.

Examples of SPAC Closing in a sentence

• For clarity, the SPAC Closing shall not constitute a Change in Control under the Plan.

• The SPAC Closing Statement and each component thereof shall be prepared and calculated in accordance with the definitions contained in this Agreement.

• In connection with the the De- SPAC Closing, the Company shall enter into a registration rights agreement with the Investor in substantially the same form as (and for the avoidance of doubt, shall be no less favorable than) any registration rights agreement by and between the SPAC and Perception Capital Partners II LLC, a Delaware limited liability company, who is the sponsor of the SPAC.

• Any amounts funded by the Sponsor to the SPAC under a Drawdown Request shall not accrue interest and shall be promptly repaid by the SPAC to the Sponsor upon the De- SPAC Closing.

• SPAC shall have delivered to the Company a fully executed version of the SPAC Closing Date Certificate.

• For clarity, if the SPAC Closing does occur, Purchaser shall receive the Warrant even if Purchaser elects to not convert all of the outstanding principal of such Purchaser’s Note.

• Employer will pay to Executive a transaction bonus in an amount in cash equal to $1,500,000 payable in a lump sum (less applicable withholdings) no later than thirty (30) days following the SPAC Closing Date.

• Section 4.11 of the Business Combination Agreement is hereby amended by deleting the following language: The SPAC Closing Cash will be sufficient to enable SPAC to pay all of the SPAC Transaction Expenses accrued and unpaid as of the Closing.

• The SPAC Closing Cash will be sufficient to enable SPAC to pay all of the SPAC Transaction Expenses accrued and unpaid as of the Closing.

• After the SPAC Closing, the Company will ensure that Black Ridge at all times maintains a number of authorized but unissued shares of BRAC Common Stock sufficient to satisfy the obligations under the Note and Warrant.

More Definitions of SPAC Closing

SPAC Closing means the closing of the Business Combination.

SPAC Closing means the consummation of the Contemplated Transaction;

SPAC Closing has the meaning set forth in the Subscription Agreement.