Common use of Founder Shares Clause in Contracts

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor pursuant to the Sponsor Subscription Agreement, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 1,125,000 by (b) a fraction, (i) the numerator of which is 4,500,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their overallotment option, and (ii) the denominator of which is 4,500,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor Founders and the Anchor Investors pursuant to the Sponsor Subscription AgreementFounder Shares Agreements, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 1,125,000 750,000 by (b) a fraction, (i) the numerator of which is 4,500,000 3,000,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their overallotment over-allotment option, and (ii) the denominator of which is 4,500,0003,000,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor Founders pursuant to the Sponsor Founder Subscription AgreementAgreements, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 1,125,000 562,500 by (b) a fraction, (i) the numerator of which is 4,500,000 2,250,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their overallotment option, over-allotment option and (ii) the denominator of which is 4,500,0002,250,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor pursuant to the Sponsor Founder Subscription Agreement, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 1,125,000 300,000 by (b) a fraction, (i) the numerator of which is 4,500,000 2,250,000 minus the number of Public Units Shares purchased by the Underwriters upon the exercise of their overallotment option, over-allotment option and (ii) the denominator of which is 4,500,0002,250,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor Founders pursuant to the Sponsor Founder Subscription AgreementAgreements, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 1,125,000 468,750 by (b) a fraction, (i) the numerator of which is 4,500,000 1,875,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their overallotment option, over-allotment option and (ii) the denominator of which is 4,500,0001,875,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor Founders pursuant to the Sponsor Founder Subscription AgreementAgreements, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 1,125,000 750,000 by (b) a fraction, (i) the numerator of which is 4,500,000 3,000,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their overallotment option, over-allotment option and (ii) the denominator of which is 4,500,0003,000,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.

Founder Shares. Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor Founders pursuant to the Sponsor Founder Subscription AgreementAgreements, in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 1,125,000 843,750 by (b) a fraction, (i) the numerator of which is 4,500,000 3,375,000 minus the number of Public Units purchased by the Underwriters upon the exercise of their overallotment option, over-allotment option and (ii) the denominator of which is 4,500,0003,375,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.