Trust Account Proceeds definition
Examples of Trust Account Proceeds in a sentence
Section 9.1. Trust Account Proceeds and Related Available Equity 69 Section 9.2. Nasdaq Listing 69 Section 9.3. No Solicitation by Acquiror 69 Section 9.4. Conduct of Business 69 Section 9.5. Acquiror Public Filings 71 Section 9.6. Shareholder Litigation 71 Section 9.7. Section 16 Matters 71 Section 9.8. Exchange Listing 72 Section 9.9. Employee Matters 72 Section 9.10.
This Commitment Letter shall terminate (i) automatically if Gross Trust Account Proceeds are equal to or greater than US$12,500,000, (ii) automatically upon the funding of the Commitments under this Commitment Letter and the receipt of the PubCo Ordinary Shares in respect thereof, and (iii) automatically upon the termination of the Business Combination Agreement in accordance with its terms.
On the Closing Date, commensurate with the Avalon Merger Effective Time (and for the avoidance of doubt, following disbursement of the Trust Account Proceeds), the Avalon Merger Surviving Corporation will pay or cause to be paid by wire transfer of immediately available funds all such BCG Transaction Expenses; provided, however, that the Company shall be obligated to pay any excess BCG Transaction Expenses in the event that Surviving Corporation does not have adequate funds at the Closing.
The Parties agree that after taking into consideration the Redemption, the Trust Account Proceeds and the gross proceeds of a PIPE Investment, the amount of cash available to Purchaser should amount to Thirty Million Dollars ($30,000,000) or more at Closing.