Examples of Underwriting Commission in a sentence
For the avoidance of doubt, any such election by an Underwriter shall be without prejudice to any right or claim of any other Underwriter to its respective portion of the Deferred Underwriting Commission or to any other right such Underwriter may have under this Agreement.
The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Underwriting Commission.
The remaining proceeds (less commissions and actual expense payments or other fees payable pursuant to this Agreement and payment of the Deferred Underwriting Commission) shall be paid to the order of the Company upon delivery to the Representative of certificates (in form and substance satisfactory to the Underwriters) representing the Firm Units (or through the facilities of the Depository Trust Company (“DTC”)) for the account of the Underwriters.
The funds deposited in the Trust Account shall include an aggregate of $8,500,000 ($0.425 per Firm Unit), payable to the Underwriters as Deferred Underwriting Commission, in accordance with Section 1.3 hereof.
Notwithstanding anything to the contrary in this Agreement, each Underwriter may at any time prior to the consummation of any Business Combination and in its sole and absolute discretion, by written notice to the Company, elect to forfeit any right or claim to its Deferred Underwriting Commission, in which case the Company agrees to instruct the Trustee not to pay such Underwriter its Deferred Underwriting Commission upon the consummation of any Business Combination.