Working Capital Unit definition

Working Capital Unit shall have the meaning given in the Recitals hereto.
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Working Capital Unit means the units, each consisting of one share of SPAC Common Stock, one warrant, each whole warrant exercisable to purchase one share of SPAC Common Stock, and one right, each to receive one-sixth (1/6) of one share of SPAC Common Stock upon the consummation of the Business Combination, that may be issued, at the option of the lender, at a conversion price of $10.00 per unit, upon the conversion of up to $1,500,000 of loans made to the SPAC by the Sponsor (or its affiliates) or certain of the SPAC’s officers and directors in order to finance the SPAC’s transaction costs in connection with a Business Combination.
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Working Capital Unit means private placement-equivalent units to be issued to the Sponsor, its affiliates of any of the Company’s officers and directors to the Company in connection with the search and consummation of the initial Business Combination of the Company.
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Examples of Working Capital Unit in a sentence

  • Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part of, and be represented by, a Unit, Private Unit or Working Capital Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or the facilities of The Depository Trust Company (the “Depository”) or other book-entry depositary system, in each case as determined by the Board of Directors of the Company or by an authorized committee thereof.

  • Each Working Capital Unit shall have the same terms and conditions as the units issued by Maker pursuant to a private placement to Payee (the “Private Placement”), as described in the prospectus (the “Prospectus”) for Maker’s initial public offering (the “IPO”) dated February 11, 2021 and filed with the U.S. Securities and Exchange Commission, including the transfer restrictions applicable thereto.

  • Notwithstanding anything to the contrary contained in this Agreement, no Registration shall be effected or permitted and no Registration Statement shall become effective, with respect to any Registrable Securities held by any Holder, until after the expiration of the Founder Shares Lock-Up Period, the Private Placement Lock-Up Period, or the Working Capital Unit Lock-up Period, as the case may be.

  • Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part of, and be represented by, a Unit, Private Unit, Working Capital Unit, or Extension Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or the facilities of The Depository Trust Company (the “Depository”) or other book-entry depositary system, in each case as determined by the Board of Directors of the Company or by an authorized committee thereof.

  • Each such newly issued Working Capital Unit shall include a restricted legend that contemplates the same restrictions as the Private Placement Units.

  • Notwithstanding anything to the contrary contained in this Agreement, no Registration shall be effected or permitted and no Registration Statement shall become effective, with respect to any Registrable Securities held by any Holder, until after the expiration of the Founder Shares Lock-Up Period, the Private Placement Lock-Up Period, the Working Capital Unit Lock-up Period, the Representative Shares Lock-up Period, or the Extension Unit Lock-up Period, as the case may be.

  • Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part of, and be represented by, a Unit, Private Unit, Extension Unit, or Working Capital Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or the facilities of The Depository Trust Company (the “Depository”) or other book-entry depositary system, in each case as determined by the Board of Directors of the Company or by an authorized committee thereof.

Related to Working Capital Unit

  • Working Capital Units shall have the meaning given in the Recitals hereto.

  • Working Capital Assets has the meaning as set forth in the Recitals of this Agreement.

  • Working Capital Target means $0.

  • Working Capital Deficit means the amount by which the Net Working Capital is less than the Target Net Working Capital.

  • Net Working Capital means, at any time, Consolidated Current Assets at such time minus Consolidated Current Liabilities at such time.

  • Working Capital Adjustment shall have the meaning set forth in Section 3.5(c)(i).

  • Estimated Working Capital has the meaning set forth in Section 2.3(a).

  • Closing Working Capital means: (a) the Current Assets of the Company, less (b) the Current Liabilities of the Company, determined as of the close of business on the Closing Date.

  • Target Working Capital has the meaning set forth in Section 2.04(a)(ii).

  • Target Working Capital Amount means $162,000,000.

  • Working Capital Adjustment Amount has the meaning set forth in Section 2.1(b)(ii).

  • Working Capital means, with respect to the Borrower and the Subsidiaries on a consolidated basis at any date of determination, Current Assets at such date of determination minus Current Liabilities at such date of determination; provided, that, for purposes of calculating Excess Cash Flow, increases or decreases in Working Capital shall be calculated without regard to any changes in Current Assets or Current Liabilities as a result of (a) any reclassification in accordance with GAAP of assets or liabilities, as applicable, between current and noncurrent or (b) the effects of purchase accounting.

  • Net Working Capital Adjustment means (a) the amount by which Net Working Capital as of immediately prior to the Closing exceeds Target Net Working Capital or (b) the amount by which Net Working Capital as of immediately prior to the Closing is less than Target Net Working Capital, in each case, if applicable; provided, that any amount which is calculated pursuant to clause (b) above shall be deemed to be a negative number.

  • Net Working Capital Target means $0.00.

  • Target Net Working Capital Amount means $0.

  • Net Working Capital Adjustment Amount means an amount, which may be a positive or negative number, equal to the Net Working Capital as of the Effective Time minus the Net Working Capital Threshold.

  • Final Working Capital has the meaning set forth in Section 2.4(b)(iii).

  • Working Capital Shares shall have the meaning given in the Recitals hereto.