Agreements and Covenants of the Company. The Company hereby agrees and covenants to: (i) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix), (x) or (xi), the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing; (ii) Subject to Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii), it shall notify the Company in writing of such claim (an “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel; (iii) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii); (iv) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of such shareholders regarding such Business Combination; (v) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same; (vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person; (vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement; (viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and (ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 19 contracts
Sources: Investment Management Trust Agreement (QDRO Acquisition Corp.), Investment Management Trust Agreement (QDRO Acquisition Corp.), Investment Management Trust Agreement (HCM IV Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer, President or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ix), (xparagraphs 1(i) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed except for disbursements made to the Company pursuant to Sections 1(ix1(i) through 1(xi)solely in connection with the consummation of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Except as set forth in this Section 3(c) and Section 3(b) hereof, the Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);Trustee.
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating shareholder votes verifying the vote of such the Company’s shareholders regarding such Business Combination;; and
(ve) Provide In the Representatives with a copy of any Termination Letter(s) and/or any other correspondence event that is sent to the Company directs the Trustee with respect to any proposed withdrawal from commence liquidation of the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between pursuant to Section 1(i), the Company and the Representatives, ensure agrees that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 18 contracts
Sources: Investment Management Trust Agreement (Chardan NexTech Acquisition 2 Corp.), Investment Management Trust Agreement (LifeSci Acquisition III Corp.), Investment Management Trust Agreement (Cleantech Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by any one of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyofficers. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit suit, or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Company Trustee shall be deducted by the Trustee pursuant to Sections 1(ixSection 1(i) through 1(xisolely in connection with the consummation of a business combination (a “Business Combination”). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) In the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement;
(f) If the Company has an Amendment approved by its stockholders, provide the Trustee with an Amendment Notification Letter in the form of Exhibit C providing instructions for the distribution of funds to Public Stockholders who exercise their conversion rights in connection with such Amendment; and
(g) Provide the Representatives Representative with a copy of any Termination Letter(s) Letter, Amendment Notification Letter, and/or any other correspondence that is sent it issues to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discountissuance.
Appears in 15 contracts
Sources: Investment Management Trust Agreement (ROC Energy Acquisition Corp.), Investment Management Trust Agreement (Property Solutions Acquisition Corp.), Investment Management Trust Agreement (Goal Acquisitions Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Officer or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixSection 1(i), (x1(j), and 1(k) or (xi)hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall may obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)hereof. The Company shall pay the Trustee upon receipt of an invoice from the initial acceptance fee and the first annual administration fee at the consummation of the OfferingTrustee. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(v) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 14 contracts
Sources: Investment Management Trust Agreement (BOA Acquisition Corp. II), Investment Management Trust Agreement (BOA Acquisition Corp. II), Investment Management Trust Agreement (Aeon Acquisition I Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer, Chief Financial Officer Officer, President, Executive Vice President, Vice President, Secretary, Assistant Secretary or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all out of pocket expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it as permitted hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for any expenses and losses arising out of, in connection with or resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheldwithheld or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheldwithheld or delayed. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification as agreed by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it a Business Combination is distributed to the Company pursuant to Sections 1(ix) through 1(xi)consummated. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account or after the removal or withdrawal of the Trustee in accordance with this Agreement. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;; and
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 13 contracts
Sources: Investment Management Trust Agreement (Cantor Equity Partners VII, Inc.), Investment Management Trust Agreement (Cantor Equity Partners VII, Inc.), Investment Management Trust Agreement (Cantor Equity Partners VI, Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer, Chief Financial Officer Officer, President, Executive Vice President, Vice President, Secretary or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all out-of-pocket expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it as permitted hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for any expenses and losses arising out of, in connection with or resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheldwithheld or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheldwithheld or delayed. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification as agreed by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it a Business Combination is distributed to the Company pursuant to Sections 1(ix) through 1(xi)consummated. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account or after the removal or withdrawal of the Trustee in accordance with this Agreement. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;; and
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 13 contracts
Sources: Investment Management Trust Agreement (CF Acquisition Corp. VII), Investment Management Trust Agreement (CF Acquisition Corp. VII), Investment Management Trust Agreement (CF Acquisition Corp. VIII)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by any one of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyofficers. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit suit, or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s fraud, gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees remaining owed to the Company Trustee at the consummation of a business combination (a “Business Combination”) shall be deducted by the Trustee pursuant to Sections 1(ixSection 1(i) through 1(xi)solely in connection with the consummation of the Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and the next annual fee on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) The Company agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement;
(f) If the Company has an Amendment approved by its stockholders, provide the Trustee with an Amendment Notification Letter in the form of Exhibit D providing instructions for the distribution of funds to Public Stockholders who properly exercise their redemption rights in connection with such Amendment;
(g) Provide the Representatives Representative with a copy of any Termination Letter(s) Letter, Amendment Notification Letter, and/or any other correspondence that is sent it issues to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;such issuance; and
(vih) Unless otherwise agreed between the Company and the Representatives, ensure that Expressly provide in any Instruction Letter (as defined in Exhibit AB) delivered in connection with a Termination Letter in the a form of substantially similar to that attached hereto as Exhibit A expressly provides B that the Deferred Discount is be paid directly to the account or accounts directed by the Representatives Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other personUnderwriters;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 12 contracts
Sources: Investment Management Trust Agreement (Northern Star Investment Corp. IV), Investment Management Trust Agreement (Northern Star Investment Corp. III), Investment Management Trust Agreement (Northern Star Investment Corp. III)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyan Authorized Representative. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all out-of-pocket expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld, delayed, or conditioned. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld, delayed, or conditioned. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a any merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or other similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;; and
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 9 contracts
Sources: Investment Management Trust Agreement (East West Ave Acquisition Corp.), Investment Management Trust Agreement (Southern Cross Acquisition II Corp.), Investment Management Trust Agreement (East West Ave Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer an Authorized Representative of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a any merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or other similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the Representatives, ensure that Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Form of Exhibit A expressly provides that the Deferred Discount is be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;Underwriter; and
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 7 contracts
Sources: Investment Management Trust Agreement (Crucible Acquisition Corp. II), Investment Management Trust Agreement (Crucible Acquisition Corp. III), Investment Management Trust Agreement (Revolution Acceleration Acquisition Corp II)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer an Authorized Representative of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a any merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or other similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Underwriters with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the Representatives, ensure that Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;Underwriters; and
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 6 contracts
Sources: Investment Management Trust Agreement (ExcelFin Acquisition Corp.), Investment Management Trust Agreement (Build Acquisition Corp.), Investment Management Trust Agreement (Build Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by any one of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyofficers. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit suit, or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xisolely in connection with the consummation of a business combination (a “Business Combination”). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) Provide In the Representatives with a copy event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees that it will not direct the Trustee to make any Termination Letter(spayments that are not specifically authorized by this Agreement; and
(f) and/or any other correspondence that is sent to If the Company has an Amendment approved by its stockholders, provide the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination an Amendment Notification Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D C providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option conversion rights in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 5 contracts
Sources: Investment Management Trust Agreement (Oak Woods Acquisition Corp), Investment Management Trust Agreement (Energy Cloud I Acquisition Corp), Investment Management Trust Agreement (Energy Cloud I Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by any one of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyofficers. In addition, except with respect to its duties under Sections 1(ixSection 1(i), (xSection 1(j) or (xi)and Section 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit suit, or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Company Trustee shall be deducted by the Trustee pursuant to Sections 1(ixSection 1(i) through 1(xisolely in connection with the consummation of a business combination (a “Business Combination”). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) In the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement;
(f) If the Company has an Amendment approved by its stockholders, provide the Trustee with an Amendment Notification Letter in the form of Exhibit C providing instructions for the distribution of funds to Public Stockholders who exercise their conversion rights in connection with such Amendment; and
(g) Provide the Representatives Representative with a copy of any Termination Letter(s) Letter, Amendment Notification Letter, and/or any other correspondence that is sent it issues to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discountissuance.
Appears in 5 contracts
Sources: Investment Management Trust Agreement (HNR Acquisition Corp.), Investment Management Trust Agreement (HNR Acquisition Corp.), Investment Management Trust Agreement (HNR Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (xj) or (xi)k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesRepresentative, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiih) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixi) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 5 contracts
Sources: Investment Management Trust Agreement (SVF Investment Corp. 2), Investment Management Trust Agreement (SVF Investment Corp. 3), Investment Management Trust Agreement (SVF Investment Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(i) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix), (x) or (xi), the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(ii) Subject to Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii), it shall notify the Company in writing of such claim (an “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iii) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);
(iv) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of such shareholders regarding such Business Combination;
(v) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the RepresentativesRepresentative, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem one-hundred percent (100% %) of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 5 contracts
Sources: Investment Management Trust Agreement (Andretti Acquisition Corp.), Investment Management Trust Agreement (Andretti Acquisition Corp.), Investment Management Trust Agreement (Andretti Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer, President or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ix), (xparagraphs 1(i) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ix1(i) through 1(xi)solely in connection with the consummation of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company any paid annual fees (on a pro rata basis) with respect to the period after the liquidation of the Trust Fund. Except as set forth in this Section 3(c) and Section 3(b) hereof, the Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);Trustee.
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating shareholder votes verifying the vote of such the Company’s shareholders regarding such Business Combination;; and
(ve) Provide In the Representatives with a copy of any Termination Letter(s) and/or any other correspondence event that is sent to the Company directs the Trustee with respect to any proposed withdrawal from commence liquidation of the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between pursuant to Section 1(i), the Company and the Representatives, ensure agrees that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 4 contracts
Sources: Investment Management Trust Agreement (Chardan Healthcare Acquisition Corp.), Investment Management Trust Agreement (Trident Acquisitions Corp.), Investment Management Trust Agreement (Trident Acquisitions Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (xj) or (xi)k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesRepresentative, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiih) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixi) Within five (5) business days after the Underwriters exercise their option to purchase additional units shares (or any unexercised portion thereof) or such option to purchase additional units shares expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 4 contracts
Sources: Investment Management Trust Agreement (SVF Investment Corp. 3), Investment Management Trust Agreement (SVF Investment Corp. 2), Investment Management Trust Agreement (SVF Investment Corp. 3)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix), (xparagraph 1(i) or (xi)above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 46(h) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Sections 3(a), 3(b) and 3(c) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that said transaction processing fees shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ix) through 1(xiSection 2(b). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the annual fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii3(c) and as may be provided in Section 2(ii3(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such Sections);.
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such shareholders the Company’s stockholders regarding such Initial Business Combination;
(ve) Provide In all cases, provide the Representatives Underwriter with a copy of any Termination Letter(s) Letters and/or any other correspondence that is sent it sends to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 4 contracts
Sources: Investment Management Trust Agreement (China VantagePoint Acquisition Co), Investment Management Trust Agreement (China VantagePoint Acquisition Co), Investment Management Trust Agreement (China VantagePoint Acquisition Co)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by any one of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyofficers. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j), and 2(a) or (xi)above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit suit, or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xisolely in connection with the consummation of a business combination (a “Business Combination”). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) In the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement;
(f) If the Company has an Amendment approved by its stockholders, provide the Trustee with an Amendment Notification Letter in the form of Exhibit C providing instructions for the distribution of funds to Public Stockholders who exercise their conversion rights in connection with such Amendment; and
(g) Provide the Representatives Representative with a copy of any Termination Letter(s) Letter, Amendment Notification Letter, and/or any other correspondence that is sent it issues to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discountissuance.
Appears in 4 contracts
Sources: Investment Management Trust Agreement (Novus Capital Corp), Investment Management Trust Agreement (Novus Capital Corp), Investment Management Trust Agreement (InterPrivate Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(i) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix), (x) or (xi), the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(ii) Subject to Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii), it shall notify the Company in writing of such claim (an “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iii) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);
(iv) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of such shareholders regarding such Business Combination;
(v) Provide the Representatives Representative with a copy of any Termination Letter(s), Tax Payment Withdrawal Instruction(s), Shareholder Redemption Withdrawal Instruction(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the RepresentativesRepresentative, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixviii) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
(ix) If applicable, issue a press release at least three days prior to the Applicable Deadline announcing that, at least five days prior to the Applicable Deadline, the Company received notice from the Sponsor that the Sponsor intends to deposit funds into the Trust Account for extending the Applicable Deadline and the Board has approved such Extension.
(x) Promptly following the Applicable Deadline, disclose whether or not the deadline for the Company to consummate a Business Combination has been extended.
Appears in 4 contracts
Sources: Investment Management Trust Agreement (TLGY Acquisition Corp), Investment Management Trust Agreement (PROOF Acquisition Corp I), Investment Management Trust Agreement (PROOF Acquisition Corp I)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Officer and Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ix), (xparagraphs 1(i) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4the provisions of Sections 5 and 7(h) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;.
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed except for disbursements made to the Company pursuant to Sections 1(ix1(i) through 1(xi)solely in connection with the consummation of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Except as set forth in this Section 3(c) and Section 3(b) hereof, the Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);Trustee.
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating shareholder votes verifying the vote of such the Company’s shareholders regarding such Business Combination;; and
(ve) Provide In the Representatives with a copy of any Termination Letter(s) and/or any other correspondence event that is sent to the Company directs the Trustee with respect to any proposed withdrawal from commence liquidation of the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between pursuant to Section 1(i), the Company and the Representatives, ensure agrees that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 4 contracts
Sources: Investment Management Trust Agreement (Modiv Acquisition Corp.), Investment Management Trust Agreement (Modiv Acquisition Corp.), Investment Management Trust Agreement (Natural Order Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (xj) or (xi)k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesRepresentative, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiih) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixi) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 4 contracts
Sources: Investment Management Trust Agreement (Prenetics Global LTD), Investment Management Trust Agreement (Artisan Acquisition Corp.), Investment Management Trust Agreement (Artisan Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the CompanyChief Operating Officer. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, care believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s 's gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xisolely in connection with the consummation of an initial business combination (as described in the Registration Statement) (a “Business Combination”). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) Provide the Representatives In connection with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect acting as Paying/Disbursing Agent pursuant to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between Exhibit B, the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct will not give the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted disbursement instructions which would be prohibited under this Agreement;
(viiif) Within five business days after the Representative, on behalf of the underwriters in the IPO, exercise the over-allotment option (or any unexercised portion thereof) or such over-allotment option expires, provide the Trustee with a notice in writing (with a copy to the Representative) of the total amount of the Deferred Discount;
(g) In the event the Company is entitled to receive a tax refund on its income tax obligation, and promptly after the amount of such refund is determined on a final basis, provide the Trustee with notice in writing (with a copy to the Representative) of the amount of such income tax refund; and
(h) If the Company seeks to amend any provisions of its amended and restated memorandum and articles certificate of association (A) incorporation relating to modify the substance stockholders’ rights or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial pre-Business Combination or to redeem 100% of activity (including the Ordinary Shares if time within which the Company does not has to complete its initial a Business Combination within the time period set forth therein or (BCombination) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders Stockholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 4 contracts
Sources: Investment Management Trust Agreement (KBL Merger Corp. Iv), Investment Management Trust Agreement (KBL Merger Corp. Iv), Investment Management Trust Agreement (KBL Merger Corp. Iv)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer, Officer or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x2(a) or (xi)and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 46(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s 's gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Sections 2(a), 2(b) and 2(c) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ix1(i) through 1(xisolely in connection with the consummation of a Business Combination, or pursuant to Section 2(b). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating shareholder votes (which firm may be the general meeting Trustee) verifying the vote of such the Company’s shareholders regarding such Business Combination;
(v) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixe) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide In connection with the Trustee with a notice in writing of acting as Paying/Disbursing Agent pursuant to Exhibit B, not give the total amount of the Deferred DiscountTrustee any disbursement instructions which would be prohibited under this Agreement.
Appears in 4 contracts
Sources: Investment Management Trust Agreement (China Resources Development Inc.), Investment Management Trust Agreement (China Resources Development Inc.), Investment Management Trust Agreement (China Resources Development Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyan Authorized Representative. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all out-of-pocket expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconductmisconduct . Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld, delayed, or conditioned. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld, delayed, or conditioned. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a any merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or other similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;; and
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 4 contracts
Sources: Investment Management Trust Agreement (Tidewise Acquisition Corp), Investment Management Trust Agreement (Future Money Acquisition Corp), Investment Management Trust Agreement (Future Money Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer or other authorized officer of the CompanySecretary. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j), 1(k) or (xi)and 1(l) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable carethe absence of bad faith, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee and its sub agents from and against any and all expenses, including reasonable counsel fees and disbursements, or losses losses, liability, damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including, without limitation, the reasonable fees and expenses of legal counsel) that may be paid, incurred or suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconductmisconduct (in each case as finally determined by a court of competent jurisdiction). Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld, conditioned or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld, conditioned or delayed. The Company may participate in such action with its own counselcounsel and at its own expense;
(iiic) Pay the Trustee the fees set forth on Schedule A heretoin accordance with a mutually agreed upon schedule, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(l) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the monthly fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), the fee schedule and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixg) Within five four (54) business days after the Underwriters exercise their the over- allotment option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $8,400,000.
Appears in 3 contracts
Sources: Investment Management Trust Agreement (Gores Technology Partners, Inc.), Investment Management Trust Agreement (Gores Technology Partners II, Inc.), Investment Management Trust Agreement (Gores Technology Partners, Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Officer and Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ix), (xparagraphs 1(i) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4the provisions of Sections 5 and 7(h) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheldwithheld or delayed. The Company may participate in such action with its own counsel;.
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed except for disbursements made to the Company pursuant to Sections 1(ix1(i) through 1(xi)solely in connection with the consummation of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Except as set forth in this Section 3(c) and Section 3(b) hereof, the Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);Trustee.
(ivd) In connection with any vote of the Company’s shareholders regarding a a merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating shareholder votes verifying the vote of such the Company’s shareholders regarding such Business Combination;; and
(ve) Provide In the Representatives with a copy of any Termination Letter(s) and/or any other correspondence event that is sent to the Company directs the Trustee with respect to any proposed withdrawal from commence liquidation of the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between pursuant to Section 1(i), the Company and the Representatives, ensure agrees that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 3 contracts
Sources: Investment Management Trust Agreement (Abri SPAC 2, Inc.), Investment Management Trust Agreement (Abri SPAC I, Inc.), Investment Management Trust Agreement (Abri SPAC I, Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder here-under in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer Chairman of the Board or President or other authorized officer of the Companyofficer. In additionaddi-tion, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x2(a) or (xi)and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4, hold Hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable includ-ing reason-able counsel fees and disbursements, or losses suffered loss suf-fered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding pro-ceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s 's gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification indemnifica-tion under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counselcoun-sel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2 as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi)Section 2. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the annual fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii3(c) and as may be provided in Section 2(ii3(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such Sections);
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(v) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 3 contracts
Sources: Investment Management Trust Agreement (Global Alternative Asset Management, Inc.), Investment Management Trust Agreement (Global Alternative Asset Management, Inc.), Investment Management Trust Agreement (Global Alternative Asset Management, Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(i) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix), (x) or (xi), the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(ii) Subject to Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii), it shall notify the Company in writing of such claim (an “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iii) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);
(iv) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of such shareholders regarding such Business Combination;
(v) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the RepresentativesRepresentative, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification LetterShareholder Redemption Withdrawal Instruction”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 3 contracts
Sources: Investment Management Trust Agreement (Mercator Acquisition Corp.), Investment Management Trust Agreement (Mercator Acquisition Corp.), Investment Management Trust Agreement (Mercator Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive OfficerPresident, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (xj), and (k) or (xi)hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, care believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 44 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed the disbursements are made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)solely in connection with the completion of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingOffering and thereafter on the anniversary of the Effective Date. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating shareholder votes (which firm may be the general meeting Trustee) verifying the vote of such the Company’s shareholders regarding such Business Combination;
(ve) Provide the Representatives In connection with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect acting as Paying/Disbursing Agent pursuant to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between Exhibit B, the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct will not give the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted disbursement instructions which would be prohibited under this Agreement;
(viiif) Within five business days after the Representative, on behalf of the Underwriter, exercises the over-allotment option (or any unexercised portion thereof) or such over-allotment option expires, provide the Trustee with a notice in writing (with a copy to the Representative) of the total amount of the Deferred Discount;
(g) In the event the Company is entitled to receive a tax refund on its tax obligation, and promptly after the amount of such refund is determined on a final basis, provide the Trustee with notice in writing (with a copy to the Representative) of the amount of such tax refund; and
(h) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify Charter that would affect the substance or timing of the Company’s obligation Public Shareholders’ ability to provide holders of the Ordinary Shares the right to have convert or sell their shares redeemed to the Company in connection with the Company’s initial a Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision provisions relating to the rights of holders of the Ordinary Shares Class A ordinary shares, (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption conversion option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 3 contracts
Sources: Investment Management Trust Agreement (Marquee Raine Acquisition Corp.), Investment Management Trust Agreement (Marquee Raine Acquisition Corp.), Investment Management Trust Agreement (Marquee Raine Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by any one of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyofficers. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit suit, or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xisolely in connection with the consummation of a business combination (a “Business Combination”). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) Provide In the Representatives with a copy event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees that it will not direct the Trustee to make any Termination Letter(spayments that are not specifically authorized by this Agreement; and
(f) and/or any other correspondence that is sent to If the Company has an Amendment approved by its stockholders, provide the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination an Amendment Notification Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D C providing instructions for the distribution of funds to Public Shareholders Stockholders who exercise their redemption option conversion rights in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 3 contracts
Sources: Investment Management Trust Agreement (Merida Merger Corp. I), Investment Management Trust Agreement (Tuscan Holdings Corp.), Investment Management Trust Agreement (Tuscan Holdings Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by any one of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyofficers. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j),and 2(a) or (xi)above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit suit, or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xisolely in connection with the consummation of a business combination (a “Business Combination”). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) Provide In the Representatives with a copy event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees that it will not direct the Trustee to make any Termination Letter(spayments that are not specifically authorized by this Agreement; and
(f) and/or any other correspondence that is sent to If the Company has an Amendment approved by its stockholders, provide the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination an Amendment Notification Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D C providing instructions for the distribution of funds to Public Shareholders Stockholders who exercise their redemption option conversion rights in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 3 contracts
Sources: Investment Management Trust Agreement (Petra Acquisition Inc.), Investment Management Trust Agreement (Petra Acquisition Inc.), Investment Management Trust Agreement (Petra Acquisition Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board or Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyofficer. In addition, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x1(j), 1(k), 2(a) or (xi)and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4, hold Hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s 's gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2 as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi)Section 2. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the annual fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii3(c) and as may be provided in Section 2(ii3(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such Sections);
(ivd) Within five business days after the underwriters’ over-allotment option (or any unexercised portion thereof) expires or is exercised in full, provide the Trustee with a notice in writing (with a copy to the Representative) of the total amount of the Deferred Discount;
(e) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization Business Combination or similar business combination involving the Company and one or more businesses (the “Business Combination”)an Extension, provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating shareholder votes (which firm may be the general meeting Trustee) verifying the vote of such the Company’s shareholders regarding such Business CombinationCombination or Extension;
(vf) Provide Within 5 business days after the Representatives consummation of the initial IPO, provide the Trustee with a notice in writing (with a copy of any Termination Letter(sto the Representative) and/or any other correspondence indicating the date that is sent to 24 months after the Trustee with respect to any proposed withdrawal from date of the Trust Account promptly after it issues consummation of the same;initial public offering (such date, the “Initial Last Date”); and
(vig) Unless otherwise agreed between Within five business days after the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing vote of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed shareholders regarding an Extension (as described in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or paragraph (Be) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will above) provide the Trustee with a letter (an “Amendment Extension Notification Letter”) in (with a copy to the form Representative) providing that (i) the Initial Last Date has been extended (an “Extension”) to a date that is not more than 36 months after the consummation of Exhibit D providing the IPO (such date, the “Extended Last Date”); as used herein the term “Last Date” shall mean the later of (A) the Initial Last Date and (B) the Extended Last Date, if there is an Extension, and (ii) instructions for the distribution of funds to Public Shareholders who exercise exercised their redemption conversion option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred DiscountExtension.
Appears in 3 contracts
Sources: Investment Management Trust Agreement (Redstar Partners, Inc.), Investment Management Trust Agreement (Redstar Partners, Inc.), Investment Management Trust Agreement (Redstar Partners, Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (xj), and (k) or (xi)hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, care believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 44 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed the disbursements are made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)solely in connection with the completion of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingOffering and thereafter on the anniversary of the Effective Date. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) Provide the Representatives In connection with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect acting as Paying/Disbursing Agent pursuant to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between Exhibit B, the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct will not give the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted disbursement instructions which would be prohibited under this Agreement;
(viiif) Within five business days after the Representatives, on behalf of the underwriters in the Offering, exercises the over-allotment option (or any unexercised portion thereof) or such over-allotment option expires, provide the Trustee with a notice in writing (with a copy to the Representatives) of the total amount of the Deferred Discount;
(g) In the event the Company is entitled to receive a tax refund on its tax obligation, and promptly after the amount of such refund is determined on a final basis, provide the Trustee with notice in writing (with a copy to the Representatives) of the amount of such tax refund; and
(h) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify Charter that would affect the substance or timing of the Company’s obligation Public Stockholders’ ability to provide holders of the Ordinary Shares the right to have convert or sell their shares redeemed to the Company in connection with the Company’s initial a Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision provisions relating to the rights of holders of the Ordinary Shares Common Stock, (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders Stockholders who exercise their redemption conversion option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 3 contracts
Sources: Investment Management Trust Agreement (Siddhi Acquisition Corp.), Investment Management Trust Agreement (Rotor Acquisition Corp.), Investment Management Trust Agreement (Rotor Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s a Chief Executive Officer, Officer or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixSection 1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s fraud, willful misconduct or gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall may obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)hereof. The Company shall pay the Trustee upon receipt of an invoice from the initial acceptance fee and the first annual administration fee at the consummation of the OfferingTrustee. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;; and
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 3 contracts
Sources: Investment Management Trust Agreement (Starry Sea Acquisition Corp), Investment Management Trust Agreement (Starry Sea Acquisition Corp), Investment Management Trust Agreement (Starry Sea Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive an Authorized Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any such written instructions and, further, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such advice or instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all actual, out-of-pocket expenses, including reasonable counsel fees and disbursements, or actual losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee by a third party involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s ’s, or its representatives’, gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld, conditioned, or delayed; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in any such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance set-up fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until the it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)hereof. The Company shall pay the Trustee the initial acceptance set-up fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Underwriters with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesUnderwriters, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts as directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixh) Within five four (54) business days after the Underwriters exercise their the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Thimble Point Acquisition Corp.), Investment Management Trust Agreement (Thimble Point Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyofficers. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j), 2(a) or (xi)and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit suit, or other proceeding brought against the Trustee involving any claim, claim or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)solely in connection with the consummation of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating shareholder votes verifying the vote of such the Company’s shareholders regarding such Business Combination;
(ve) Provide In the Representatives with a copy event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees that it will not direct the Trustee to make any Termination Letter(spayments that are not specifically authorized by this Agreement; and
(f) and/or any other correspondence that is sent to If the Company has an Amendment approved by its shareholders, provide the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination an Amendment Notification Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D C providing instructions for the distribution of funds to Public Shareholders who exercise their redemption conversion option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (DD3 Acquisition Corp.), Investment Management Trust Agreement (DD3 Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (xj) or (xi)k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, Claim provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to to, or on behalf of, the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesRepresentative, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiih) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixi) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (LDH Growth Corp I), Investment Management Trust Agreement (LDH Growth Corp I)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive OfficerPresident, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (xj), and (k) or (xi)hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, care believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 44 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed the disbursements are made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)solely in connection with the completion of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingOffering and thereafter on the anniversary of the Effective Date. The Trustee shall refund the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating shareholder votes (which firm may be the general meeting Trustee) verifying the vote of such the Company’s shareholders regarding such Business Combination;
(ve) Provide the Representatives In connection with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect acting as Paying/Disbursing Agent pursuant to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between Exhibit B, the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct will not give the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted disbursement instructions which would be prohibited under this Agreement;
(viiif) Within five business days after the Representatives, on behalf of the underwriters in the Offering, exercises the over-allotment option (or any unexercised portion thereof) or such over-allotment option expires, provide the Trustee with a notice in writing (with a copy to the Representatives) of the total amount of the Deferred Discount;
(g) In the event the Company is entitled to receive a tax refund on its tax obligation, and promptly after the amount of such refund is determined on a final basis, provide the Trustee with notice in writing (with a copy to the Representatives) of the amount of such tax refund; and
(h) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify Charter that would affect the substance or timing of the Company’s obligation Public Shareholders’ ability to provide holders of the Ordinary Shares the right to have convert or sell their shares redeemed to the Company in connection with the Company’s initial a Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision provisions relating to the rights of holders of the Ordinary Shares Class A ordinary shares, (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption conversion option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Trebia Acquisition Corp.), Investment Management Trust Agreement (Trebia Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by two of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyexecutive officers. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j), 1(k) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, care believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xisolely in connection with the consummation of an initial business combination (as described in the Registration Statement, a “Business Combination”). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) Provide the Representatives In connection with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect acting as Paying/Disbursing Agent pursuant to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between Exhibit B, the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct will not give the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted disbursement instructions which would be prohibited under this Agreement;
(viiif) If the Company seeks to amend any provisions of its amended and restated memorandum and articles certificate of association (A) incorporation relating to modify the substance stockholders’ rights or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial pre-Business Combination or to redeem 100% of activity (including the Ordinary Shares if time within which the Company does not has to complete its initial a Business Combination within the time period set forth therein or (BCombination) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D D, signed on behalf of the Company by two of the Company’s executive officers, providing instructions for the distribution of funds to Public Shareholders Stockholders who exercise their redemption conversion option in connection with such Amendment;
(g) If applicable, issue a press release at least three days prior to the Applicable Deadline announcing that, at least five days prior to the Applicable Deadline, the Company received notice from the Sponsor that the Sponsor intends to extend the Applicable Deadline; and
(ixh) Within five (5) business days after Promptly following the Underwriters exercise their option Applicable Deadline, disclose whether or not the term the Company has to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with consummate a notice in writing of the total amount of the Deferred DiscountBusiness Combination has been extended.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Draper Oakwood Technology Acquisition Inc.), Investment Management Trust Agreement (Draper Oakwood Technology Acquisition Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer or other authorized officer of the CompanySecretary. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j), 1(k) or (xi)and 1(l) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good the absence of bad faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee and its sub agents from and against any and all expenses, including reasonable counsel fees and disbursements, or losses losses, liability, damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including, without limitation, the reasonable fees and expenses of legal counsel) that may be paid, incurred or suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconductmisconduct (in each case as finally determined by a court of competent jurisdiction). Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld, conditioned or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld, conditioned or delayed. The Company may participate in such action with its own counselcounsel and at its own expense;
(iiic) Pay the Trustee the fees set forth on Schedule A heretoin accordance with a mutually agreed upon schedule, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(l) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the monthly fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) thisSection 2(c), the fee schedule and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixg) Within five four (54) business days after the Underwriters exercise their the over- allotment option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $21,000,000.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Gores Guggenheim, Inc.), Investment Management Trust Agreement (Gores Guggenheim, Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder here-under in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer Chairman of the CompanyBoard or President. In additionaddi-tion, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x2(a) or (xi)and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4, hold Hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable includ-ing reason-able counsel fees and disbursements, or losses suffered loss suf-fered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding pro-ceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s 's gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification indemnifica-tion under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counselcoun-sel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, fee of $1,000 and an annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is of $3,000 (it being expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xifee). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(iiparagraph 3(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such paragraph);
(ivd) Provide to the Trustee any letter of intent, agreement in principle or definitive agreement for a Business Combination that is executed on or prior to the First Date; and
(e) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;.
(vf) Provide the Representatives In connection with a copy any liquidation of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues Account, not to direct the same;
(vi) Unless otherwise agreed between the Company and the RepresentativesTrustee, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee paying agent, to make only those distributions that are any payment not specifically permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Polaris Acquisition Corp.), Investment Management Trust Agreement (Polaris Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer an Authorized Representative of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(B), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(C) and as may be provided in Section 2(ii)2(B) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a any merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesUnderwriter, ensure that expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Form of Exhibit A expressly provides that the Deferred Discount is be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other personUnderwriter;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiih) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating applicable, issue a press release at least three days prior to the rights of holders of Applicable Deadline announcing that, at least five days prior to the Ordinary Shares (in each case, an “Amendment”)Applicable Deadline, the Company will provide received notice from the Trustee with a letter (an “Amendment Notification Letter”) in Sponsor that the form of Exhibit D providing instructions for Sponsor intends to extend the distribution of funds to Public Shareholders who exercise their redemption option in connection with such AmendmentApplicable Deadline; and
(ixi) Within five (5) business days after Promptly following the Underwriters exercise their option Applicable Deadline, disclose whether or not the term the Company has to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with consummate a notice in writing of the total amount of the Deferred DiscountBusiness Combination has been extended.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Integrated Wellness Acquisition Corp), Investment Management Trust Agreement (Integrated Wellness Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer an Authorized Representative of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(B), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(C) and as may be provided in Section 2(ii)2(B) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a any merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or other similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Underwriters with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesUnderwriters, ensure that expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Form of Exhibit A expressly provides that the Deferred Discount is be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;Underwriters; and
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Banyan Acquisition Corp), Investment Management Trust Agreement (Banyan Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (xj) or (xi)k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesUnderwriter, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters Underwriter prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiih) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixi) Within five (5) business days after the Underwriters exercise their Underwriter exercises its option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (TH International LTD), Investment Management Trust Agreement (Silver Crest Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(i) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix), (x) or (xi), the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(ii) Subject to Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii), it shall notify the Company in writing of such claim (an “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iii) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);
(iv) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of such shareholders regarding such Business Combination;
(v) Provide the Representatives with a copy of any Termination Letter(s), Tax Payment Withdrawal Instruction(s), Shareholder Redemption Withdrawal Instruction(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixviii) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
(ix) If applicable, issue a press release at least three days prior to the Applicable Deadline announcing that, at least five days prior to the Applicable Deadline, the Company received notice from the Sponsor that the Sponsor intends to deposit funds into the Trust Account for extending the Applicable Deadline and the Board has approved such Extension.
(x) Promptly following the Applicable Deadline, disclose whether or not the deadline for the Company to consummate a Business Combination has been extended.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (SOAR Technology Acquisition Corp.), Investment Management Trust Agreement (SOAR Technology Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by two of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyexecutive officers. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j), 2(a) or (xi)and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, care believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Sections 2(a) and 2(b) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xisolely in connection with the consummation of an initial business combination (as described in the Registration Statement, a “Business Combination”) and Section 2(b). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;; and
(ve) Provide the Representatives In connection with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect acting as Paying/Disbursing Agent pursuant to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between Exhibit B, the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct will not give the Trustee to make only those distributions that are permitted disbursement instructions which would be prohibited under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;.
(viiif) If the Company seeks to amend any provisions of its amended and restated memorandum and articles certificate of association (A) incorporation relating to modify the substance stockholders’ rights or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial pre-Business Combination or to redeem 100% of activity (including the Ordinary Shares if time within which the Company does not has to complete its initial a Business Combination within the time period set forth therein or (BCombination) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D E, signed on behalf of the Company by two of the Company’s executive officers, providing instructions for the distribution of funds to Public Shareholders Stockholders who exercise their redemption conversion option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Forum Merger Corp), Investment Management Trust Agreement (Forum Merger Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive an Authorized Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any such written instructions and, further, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such advice or instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all actual, out-of-pocket expenses, including reasonable counsel fees and disbursements, or actual losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee by a third party involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s ’s, or its representatives’, gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld, conditioned, or delayed; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in any such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance set-up fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until the it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)hereof. The Company shall pay the Trustee the initial acceptance set-up fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Underwriters with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesUnderwriters, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts as directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixh) Within five four (54) business days after the Underwriters exercise their the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Thimble Point Acquisition Corp. II), Investment Management Trust Agreement (Thimble Point Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s or its representatives’ fraud, willful misconduct, gross negligence, fraud negligence or willful misconductand material breach of this Agreement. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall may obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)hereof. The Company shall pay the Trustee upon receipt of an invoice from the initial acceptance fee and the first annual administration fee at the consummation of the OfferingTrustee. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;; and
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (AI Infrastructure Acquisition Corp.), Investment Management Trust Agreement (AI Infrastructure Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s a Chief Executive Officer, Officer or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixSection 1(i), (x1(j), and 1(k) or (xi)hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)hereof. The Company shall pay the Trustee upon receipt of an invoice from the initial acceptance fee and the first annual administration fee at the consummation of the OfferingTrustee. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives CCM and Seaport with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the Representatives, ensure that Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Form of Exhibit A expressly provides that the Deferred Discount is (as provided in the Underwriting Agreement) be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;CCM and Seaport; and
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;.
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixh) Within five four (54) business days after the Underwriters exercise their the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of setting forth the total amount of the Deferred DiscountDiscount (as provided in the Underwriting Agreement).
Appears in 2 contracts
Sources: Investment Management Trust Agreement (FACT II Acquisition Corp.), Investment Management Trust Agreement (FACT II Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writingwriting or the electronic equivalent, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyas specified in Section 1(i). In addition, except with respect to its duties under Sections 1(ix1(i), (x2(a) or (xi)and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal verbal, electronic or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it the trustee hereunder and in connection with or any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)section, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);
(ivd) In connection with any vote the vote, if any, of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating shareholder votes verifying the vote of such the Company’s shareholders regarding such Business Combination;; and
(ve) Provide In the Representatives with a copy of any Termination Letter(s) and/or any other correspondence event that is sent to the Company directs the Trustee with respect to any proposed withdrawal from commence liquidation of the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between pursuant to Section 1(i), the Company and the Representatives, ensure agrees that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (S.E. Asia Emerging Market Company., LTD), Investment Management Trust Agreement (S.E. Asia Emerging Market Company., LTD)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(i) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix), (x) or (xi), the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(ii) Subject to Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii), it shall notify the Company in writing of such claim (an “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iii) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);
(iv) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of such shareholders regarding such Business Combination;
(v) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification LetterShareholder Redemption Withdrawal Instruction”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Jones Ventures INTL Acquisition1 Corp), Investment Management Trust Agreement (HCM IV Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer an Authorized Representative of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(B), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(C) and as may be provided in Section 2(ii)2(B) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a any merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesUnderwriter, ensure that expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Form of Exhibit A expressly provides that the Deferred Discount is be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;Underwriter; and
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Thrive Acquisition Corp), Investment Management Trust Agreement (Thrive Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, President or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration monthly fee at the consummation of the Offering. The Trustee shall refund to the Company the monthly fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives J▇▇▇▇▇▇▇▇ LLC and Deutsche Bank Securities Inc. with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;; and
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Landcadia Holdings, Inc.), Investment Management Trust Agreement (Landcadia Holdings, Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(i) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix), (x) or (xi), the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(ii) Subject to Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii), it shall notify the Company in writing of such claim (an “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iii) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);
(iv) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of such shareholders regarding such Business Combination;
(v) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the RepresentativesRepresentative, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Hunt Companies Acquisition Corp. I), Investment Management Trust Agreement (Hunt Companies Acquisition Corp. I)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer or other authorized officer of the CompanySecretary. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j), 1(k) or (xi)and 1(l) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable carethe absence of bad faith, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee and its sub agents from and against any and all expenses, including reasonable counsel fees and disbursements, or losses losses, liability, damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including, without limitation, the reasonable fees and expenses of legal counsel) that may be paid, incurred or suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconductmisconduct (in each case as finally determined by a court of competent jurisdiction). Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld, conditioned or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld, conditioned or delayed. The Company may participate in such action with its own counselcounsel and at its own expense;
(iiic) Pay the Trustee the fees set forth on Schedule A heretoin accordance with a mutually agreed upon schedule, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(l) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the monthly fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), the fee schedule and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixg) Within five four (54) business days after the Underwriters exercise their the over- allotment option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $18,375,000.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Gores Holdings IX, Inc.), Investment Management Trust Agreement (Gores Holdings IX, Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer Officer, Chief Operating Officer, General Counsel, Secretary or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j), 1(k) or (xi)and 1(m) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s or its representatives’ gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld; provided, further, that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take action to mount such a defense. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it the Property is distributed to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A hereto and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization Business Combination or similar business combination involving to approve an amendment to the Company and one or more businesses (Charter of the “Business Combination”nature described in Section 1(k), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business CombinationCombination or such amendment, as the case may be;
(ve) Provide the Representatives Underwriter with a copy of any (1) Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same and (2) any Extension Letter and any related correspondence sent to the Trustee with respect to the Extension Option promptly after the Company or the Sponsor issues the same;
(vif) Unless otherwise agreed between the Company and the Representatives, ensure that Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Form of Exhibit A expressly provides that the Deferred Discount is be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;Underwriter; and
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Jackson Acquisition Co), Investment Management Trust Agreement (Jackson Acquisition Co)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer or other authorized officer of the CompanySecretary. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j), 1(k) or (xi)and 1(l) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good the absence of bad faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee and its sub agents from and against any and all expenses, including reasonable counsel fees and disbursements, or losses losses, liability, damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including, without limitation, the reasonable fees and expenses of legal counsel) that may be paid, incurred or suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconductmisconduct (in each case as finally determined by a court of competent jurisdiction). Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld, conditioned or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld, conditioned or delayed. The Company may participate in such action with its own counselcounsel and at its own expense;
(iiic) Pay the Trustee the fees set forth on Schedule A heretoin accordance with a mutually agreed upon schedule, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(l) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the monthly fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), the fee schedule and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixg) Within five four (54) business days after the Underwriters exercise their Underwriter exercises the over- allotment option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $10,500,000.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Gores Holdings VIII Inc.), Investment Management Trust Agreement (Gores Holdings VIII Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all out-of-pocket expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheldwithheld or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheldwithheld or delayed. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiig) If the Company seeks to amend Expressly provide in any provisions of its amended and restated memorandum and articles of association Instruction Letter (as defined in Exhibit A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed delivered in connection with a Termination Letter in a form substantially similar to that attached hereto as Exhibit A that the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating Deferred Discount be paid directly to the rights of holders of account or accounts directed by the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such AmendmentRepresentatives; and
(ixh) Within five four (54) business days after the Underwriters Underwriters’ exercise their of the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $5,250,000 (or $6,037,500 if the Underwriters’ over-allotment option is exercised in full).
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Tuatara Capital Acquisition Corp), Investment Management Trust Agreement (Tuatara Capital Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s a Chief Executive Officer, Officer or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixSection 1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s willful misconduct or gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall may obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)hereof. The Company shall pay the Trustee upon receipt of an invoice from the initial acceptance fee and the first annual administration fee at the consummation of the OfferingTrustee. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the Representatives, ensure that Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Form of Exhibit A expressly provides that the Deferred Discount is (as provided in the Underwriting Agreement) be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;Underwriter; and
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;.
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixh) Within five four (54) business days after the Underwriters exercise their Underwriter exercises the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of setting forth the total amount of the Deferred DiscountDiscount (as provided in the Underwriting Agreement).
Appears in 2 contracts
Sources: Investment Management Trust Agreement (TCGX Acquisition Corp.), Investment Management Trust Agreement (TCGX Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Officer or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixSection 1(i), (x1(j), and 1(k) or (xi)hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s fraud, willful misconduct or gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall may obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)hereof. The Company shall pay the Trustee upon receipt of an invoice from the initial acceptance fee and the first annual administration fee at the consummation of the OfferingTrustee. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;; and
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Thunderstone Acquisition Corp), Investment Management Trust Agreement (Thunderstone Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Co-Chief Executive Officer, Chief Financial Officer or other authorized officer of the CompanyOfficers. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheldwithheld or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheldwithheld or delayed. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiig) If the Company seeks to amend Expressly provide in any provisions of its amended and restated memorandum and articles of association Instruction Letter (as defined in Exhibit A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed delivered in connection with a Termination Letter in a form substantially similar to that attached hereto as Exhibit A that the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating Deferred Discount be paid directly to the rights of holders of account or accounts directed by the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such AmendmentRepresentatives; and
(ixh) Within five four (54) business days after the Underwriters Underwriters’ exercise their of the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $8,750,000 (or $10,062,500 if the Underwriters’ over-allotment option is exercised in full).
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Replay Acquisition Corp.), Investment Management Trust Agreement (Replay Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(i) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix), (x) or (xi), the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(ii) Subject to Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii), it shall notify the Company in writing of such claim (an “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iii) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);
(iv) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of such shareholders regarding such Business Combination;
(v) Provide the Representatives Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the RepresentativesUnderwriter, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters Underwriter prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their Underwriter exercises its option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Trine II Acquisition Corp.), Investment Management Trust Agreement (Trine II Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, President, Vice President or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x2(a) or (xi)and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 46(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, Company which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Sections 2(a) and 2(b) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ix1(i) through 1(xisolely in connection with the consummation of a Business Combination, or pursuant to Section 2(b). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company shall not be responsible for the annual fee (on a pro rata basis) with respect to any other fees or charges period after the liquidation of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Trust Fund;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “an Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) Provide the Representatives The Company shall provide EBC with a copy of any Termination Letter(s) Letters and/or any other correspondence that is sent it issues to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;such issuance; and
(vif) Unless otherwise agreed between In the event that the Company and directs the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Trustee to commence liquidation of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account pursuant to Section 1(i), the Company or any other person;
(vii) Instruct the Trustee to make only those distributions agrees that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (MedWorth Acquisition Corp.), Investment Management Trust Agreement (MedWorth Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the CompanySecretary. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all documented expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixg) Within five four (54) business days after the Underwriters exercise their the over-allotment option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $10,500,000.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (AfterNext HealthTech Acquisition Corp.), Investment Management Trust Agreement (AfterNext HealthTech Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by any of the following officers of the Company’s Chief Executive Officer: President, Vice President, Chief Financial Officer or other authorized officer of the CompanySecretary. In addition, except with respect to its duties under Sections 1(ix), (x1(i) or (xi)and 1(j) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 46 hereof, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel counsel’s fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 1(i) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that said transaction processing fees shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ix) through 1(xiSection 1(i). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the annual fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii3(c) and as may be provided in Section 2(ii3(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such Sections);; and
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving as described in and contemplated by the Company and one or more businesses Registration Statement (the a “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(v) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (Golden Pond Healthcare, Inc.), Investment Management Trust Agreement (Golden Pond Healthcare, Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by one of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyexecutive officers. In addition, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x1(j) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, care believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi)consummates a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating shareholder votes verifying the vote of such the Company’s shareholders regarding such Business Combination;
(ve) Provide In the Representatives with a copy of any Termination Letter(s) and/or any other correspondence event that is sent to the Company directs the Trustee with respect to any proposed withdrawal from commence liquidation of the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between pursuant to Section 1(i), the Company and the Representatives, ensure agrees that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;
(viiif) If the Company seeks to amend any provisions of its amended Amended and restated memorandum Restated Memorandum and articles Articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares Association (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option rights in connection with such Amendment; and
(ixg) Within five If the Company extends the time it has to consummate a Business Combination by four (54) business days after months by resolution of its Board of Directors, as set forth in the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expiresRegistration Statement, provide the Trustee with a notice letter (an “Extension Notification Letter”) in writing the form of the total amount of the Deferred DiscountExhibit E to such effect.
Appears in 2 contracts
Sources: Investment Management Trust Agreement (TKK SYMPHONY ACQUISITION Corp), Investment Management Trust Agreement (TKK SYMPHONY ACQUISITION Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board or Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyofficer. In addition, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x1(j), 1(k), 2(a) or (xi)and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4, hold Hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2 as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi)Section 2. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the annual fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii3(c) and as may be provided in Section 2(ii3(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such Sections);
(ivd) Within five business days after the underwriters’ over-allotment option (or any unexercised portion thereof) expires or is exercised in full, provide the Trustee with a notice in writing (with a copy to the Representative) of the total amount of the Deferred Discount, which shall in no event be less than $3,125,000;
(e) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization Business Combination or similar business combination involving the Company and one or more businesses (the “Business Combination”)an Extension, provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating shareholder votes (which firm may be the general meeting Trustee) verifying the vote of such the Company’s shareholders regarding such Business CombinationCombination or Extension;
(vf) Provide Within five business days after the Representatives consummation of the initial IPO, provide the Trustee with a notice in writing (with a copy of any Termination Letter(sto the Representative) and/or any other correspondence indicating the date that is sent 18 months after the date of the consummation of the IPO (such date, the “Initial Last Date”);
(g) Within five business days after the Company enters into a letter of intent, memorandum of understanding, agreement in principle or definitive agreement with respect to a Business Combination, provide the Trustee with respect a notice in writing (with a copy to any proposed withdrawal from the Trust Account promptly Representative) indicating that the Company entered into a definitive agreement prior to the Initial Last Date and that the Initial Last Date has been extended to the date that is 24 months after it issues the same;date of the consummation of the IPO (such date, the “Second Last Date”); and
(vih) Unless otherwise agreed between Within five business days after the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing vote of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed shareholders regarding an Extension (as described in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or paragraph (Be) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will above) provide the Trustee with a letter (an “Amendment Extension Notification Letter”) (with a copy to the Representative) providing that (i) the Initial last Date (or the Second Last Date) has been extended (an “Extension”) to a date that is not more than 36 months after the consummation of the IPO (such date, the “Extended Last Date”; as used herein the term “Last Date” shall mean the later of (A) the Initial Last Date, (B) the Second Last Date if the Initial Last Date was extended as described in paragraph (g) above, and (C) the form of Exhibit D providing Extended Last Date, if there is an Extension), and (ii) instructions for the distribution of funds to Public Shareholders who exercise exercised their redemption conversion option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred DiscountExtension.
Appears in 1 contract
Sources: Investment Management Trust Agreement (North Asia Investment CORP)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer, President or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ix), (xparagraphs 1(i) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed except for disbursements made to the Company pursuant to Sections 1(ix1(i) through 1(xi)solely in connection with the consummation of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Except as set forth in this Section 3(c) and Section 3(b) hereof, the Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);Trustee.
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;; and
(ve) Provide In the Representatives with a copy of any Termination Letter(s) and/or any other correspondence event that is sent to the Company directs the Trustee with respect to any proposed withdrawal from commence liquidation of the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between pursuant to Section 1(i), the Company and the Representatives, ensure agrees that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Chardan NexTech Acquisition 2 Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
: (i) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix), (x) or (xi), the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
; (ii) Subject to Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii), it shall notify the Company in writing of such claim (an “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
; (iii) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);
; (iv) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of such shareholders regarding such Business Combination;
; (v) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
; (vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
; (vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
; (viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (HCM Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer, President or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ix), (xparagraphs 1(i) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed except for disbursements made to the Company pursuant to Sections 1(ix1(i) through 1(xi)solely in connection with the consummation of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Except as set forth in this Section 3(c) and Section 3(b) hereof, the Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);Trustee.
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;; and
(ve) Provide In the Representatives with a copy of any Termination Letter(s) and/or any other correspondence event that is sent to the Company directs the Trustee with respect to any proposed withdrawal from commence liquidation of the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between pursuant to Section 1(i), the Company and the Representatives, ensure agrees that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;.
(viiif) If the Company seeks to amend any provisions of its amended Amended and restated memorandum and articles Restated Certificate of association Incorporation (Ai) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed allow redemption in connection with the Company’s its initial Business Combination or to redeem 100% of the Ordinary Shares shares of Common Stock issued in the IPO if the Company does not complete its initial Business Combination within 15 months (or up to 21 months, as applicable) from the time period set forth therein closing of the IPO or (Bii) with respect to any other provision relating to the stockholders’ rights of holders of the Ordinary Shares or pre-initial Business Combination activity (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders Stockholders who exercise their redemption option in connection with such Amendment;
(g) If applicable, issue a press release at least three days prior to the Applicable Deadline announcing that, at least five days prior to the Applicable Deadline, the Company received notice from the Sponsor that the Sponsor intends to extend the Applicable Deadline; and
(ixh) Within five (5) business days after Promptly following the Underwriters exercise their option Applicable Deadline, disclose whether or not the term the Company has to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with consummate a notice in writing of the total amount of the Deferred DiscountBusiness Combination has been extended.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Chardan Nextech Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer or other Secretary as authorized officer of the Companyon Exhibit F hereto. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable carethe absence of bad faith, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee and its sub agents from and against any and all expenses, including reasonable counsel fees and disbursements, or losses losses, liability, damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including, without limitation, the reasonable fees and expenses of legal counsel) that may be paid, incurred or suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, actual fraud or willful misconductmisconduct (in each case as finally determined by a court of competent jurisdiction). Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld, conditioned or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld, conditioned or delayed. The Company may participate in such action with its own counselcounsel and at its own expense;
(iiic) Pay the Trustee the fees set forth on Schedule A heretoin accordance with a mutually agreed upon schedule, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)and 1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the monthly fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), the fee schedule and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiig) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) Shareholder Redemption Withdrawal Instruction in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option and properly tender their shares in connection with such Amendment; and
(ixh) Within five four (54) business days after the Underwriters exercise their the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $3,500,000; and
(i) Provide the Trustee with a certified tax identification number by furnishing appropriate IRS Forms W-9 or W-8 (as applicable) and other tax forms and documents that the Trustee may reasonably request. The Company understands that if such tax reporting documentation is not so certified to the Trustee, the Trustee may be required by the Internal Revenue Code of 1986, as amended, to withhold (without liability) a portion of any interest or other income earned on the investment of monies or other property held by the Trustee pursuant to the Agreement. For certain payments made pursuant to the Agreement, the Trustee may be required to make a “reportable payment” or “withholdable payment” and in such cases the Trustee shall have the duty to act as a payor or withholding agent, respectively, that is responsible for any tax withholding and reporting required under Chapters 3, 4, and 61 of the United States Internal Revenue Code of 1986, as amended (the “Code”). The Trustee shall have the sole right to make the determination as to which payments are “reportable payments” or “withholdable payments”. Notwithstanding anything to this Agreement, in the event that the Trustee determines that any portion of a payment under this Agreement would be subject to withholding under any applicable law, the Trustee shall promptly notify the Company in writing of such determination. The Trustee and the Company shall reasonably cooperate to (i) determine what (if any) withholding applies to the transactions contemplated hereby, and (ii) eliminate or minimize any applicable withholding.
Appears in 1 contract
Sources: Investment Management Trust Agreement (INFINT Acquisition Corp 2)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all out-of-pocket expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheldwithheld or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheldwithheld or delayed. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiig) If the Company seeks to amend Expressly provide in any provisions of its amended and restated memorandum and articles of association Instruction Letter (as defined in Exhibit A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed delivered in connection with a Termination Letter in a form substantially similar to that attached hereto as Exhibit A that the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating Deferred Discount be paid directly to the rights of holders of account or accounts directed by the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such AmendmentRepresentative; and
(ixh) Within five four (54) business days after the Underwriters Underwriters’ exercise their of the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $8,750,000 (or $10,062,500 if the Underwriters’ over-allotment option is exercised in full).
Appears in 1 contract
Sources: Investment Management Trust Agreement (Silver Spike Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all out-of-pocket expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheldwithheld or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheldwithheld or delayed. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiig) If the Company seeks to amend Expressly provide in any provisions of its amended and restated memorandum and articles of association Instruction Letter (as defined in Exhibit A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed delivered in connection with a Termination Letter in a form substantially similar to that attached hereto as Exhibit A that the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating Deferred Discount be paid directly to the rights of holders of account or accounts directed by the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such AmendmentRepresentative; and
(ixh) Within five four (54) business days after the Underwriters Underwriters’ exercise their of the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $8,750,000 (or $10,062,500 if the Underwriters’ over-allotment option is exercised in full).
Appears in 1 contract
Sources: Investment Management Trust Agreement (Silver Spike Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board or Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyofficer. In addition, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x1(j), 1(k), 2(a) or (xi)and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4, hold Hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2 as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi)Section 2. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the annual fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii3(c) and as may be provided in Section 2(ii3(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such Sections);
(ivd) Within five business days after the underwriters’ over-allotment option (or any unexercised portion thereof) expires or is exercised in full, provide the Trustee with a notice in writing (with a copy to the Representative) of the total amount of the Deferred Discount, which shall in no event be less than $2,400,000;
(e) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization Business Combination or similar business combination involving the Company and one or more businesses (the “Business Combination”)an Extension, provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating shareholder votes (which firm may be the general meeting Trustee) verifying the vote of such the Company’s shareholders regarding such Business CombinationCombination or Extension;
(vf) Provide Within five business days after the Representatives consummation of the initial IPO, provide the Trustee with a notice in writing (with a copy of any Termination Letter(sto the Representative) and/or any other correspondence indicating the date that is sent to 18 months after the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing date of the Company’s obligation final prospectus filed pursuant to provide holders Rule 424(b) of the Ordinary Shares the right to have their shares redeemed Securities Act of 1933, as amended, in connection with the Company’s initial Business Combination or to redeem 100% of IPO (such date, the Ordinary Shares if “Initial Last Date”);
(g) Within five business days after the Company does not complete its initial Business Combination within the time period set forth therein enters into a letter of intent, memorandum of understanding, agreement in principle or (B) definitive agreement with respect to any other provision relating a Business Combination, provide the Trustee with a notice in writing (with a copy to the rights of holders Representative) indicating that the Company entered into a definitive agreement prior to the Initial Last Date and that the Initial Last Date has been extended to the date that is 24 months after the date of the Ordinary Shares Company’s final prospectus filed pursuant to Rule 424(b) of the Securities Act of 1933, as amended, in connection with the IPO (in each casesuch date, an the “AmendmentSecond Last Date”), ; and
(h) Within five business days after the Company will vote of the Company’s shareholders regarding an Extension (as described in paragraph (e) above) provide the Trustee with a letter (an “Amendment Extension Notification Letter”) (with a copy to the Representative) providing that (i) the Initial last Date (or the Second Last Date) has been extended (an “Extension”) to a date that is not more than 36 months after the consummation of the IPO (such date, the “Extended Last Date”; as used herein the term “Last Date” shall mean the later of (A) the Initial Last Date, (B) the Second Last Date if the Initial Last Date was extended as described in paragraph (g) above, and (C) the form of Exhibit D providing Extended Last Date, if there is an Extension), and (ii) instructions for the distribution of funds to Public Shareholders who exercise exercised their redemption conversion option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred DiscountExtension.
Appears in 1 contract
Sources: Investment Management Trust Agreement (North Asia Investment CORP)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give With the exception of Exhibits A and B as discussed in Section 1(i) which require two signatures, give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer, Chief Financial Officer Officer, President, Executive Vice President, Vice President or other authorized officer of the CompanySecretary. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xiclosing of the Business Combination (defined below). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesRepresentative, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixh) Within five four (54) business days after the Underwriters exercise their the over-allotment option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $3,500,000.
Appears in 1 contract
Sources: Investment Management Trust Agreement (OceanTech Acquisitions I Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (xj) or (xi)k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesUnderwriter, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters Underwriter prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiih) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixi) Within five (5) business days after the Underwriters exercise their Underwriter exercises its option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Silver Crest Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Officer or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixSection 1(i), (x1(j), and 1(k) or (xi)hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall may obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)hereof. The Company shall pay the Trustee upon receipt of an invoice from the initial acceptance fee and the first annual administration fee at the consummation of the OfferingTrustee. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives CCM with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesCCM, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives CCM on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixh) Within five four (54) business days after the Underwriters exercise their the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of setting forth the total amount of the Deferred DiscountDiscount (as provided in the Underwriting Agreement).
Appears in 1 contract
Sources: Investment Management Trust Agreement (BOA Acquisition Corp. II)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of authorized in writing by the CompanyChief Executive Officer. In addition, except with respect to its duties under Sections 1(ix1(j), (x2(a), and 2(b) or (xi)above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4, hold Hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit suit, or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)Section, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Sections 2(a) and 2(b) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that said transaction processing fees shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ix) through 1(xiSection 2(b). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the annual fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii3(c) and as may be provided in Section 2(ii3(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such Sections);; and
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(v) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Atlas Acquisition Holdings Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer an Authorized Representative of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(B), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(C) and as may be provided in Section 2(ii)2(B) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a any merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or other similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesUnderwriter, ensure that expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Form of Exhibit A expressly provides that the Deferred Discount is be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;Underwriter; and
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Banyan Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by two of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyexecutive officers. In addition, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x1(j) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, care believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xiSection 1(i). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating shareholder votes verifying the vote of such the Company’s shareholders regarding such Business Combination;
(ve) Provide In the Representatives with a copy of any Termination Letter(s) and/or any other correspondence event that is sent to the Company directs the Trustee with respect to any proposed withdrawal from commence liquidation of the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between pursuant to Section 1(i), the Company and the Representatives, ensure agrees that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;
(viiif) If the Company seeks to amend any provisions of its amended Amended and restated memorandum Restated Memorandum and articles Articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares Association (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option rights in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Twelve Seas Investment Co)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s a Chief Executive Officer, Officer or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixSection 1(i), (x1(j), and 1(k) or (xi)hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s willful misconduct or gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall may obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)hereof. The Company shall pay the Trustee upon receipt of an invoice from the initial acceptance fee and the first annual administration fee at the consummation of the OfferingTrustee. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the Representatives, ensure that Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Form of Exhibit A expressly provides that the Deferred Discount is (as provided in the Underwriting Agreement) be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;Underwriter; and
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;.
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixh) Within five four (54) business days after the Underwriters exercise their Underwriter exercises the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of setting forth the total amount of the Deferred DiscountDiscount (as provided in the Underwriting Agreement).
Appears in 1 contract
Sources: Investment Management Trust Agreement (ProCap Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all out-of-pocket expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheldwithheld or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheldwithheld or delayed. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiig) If the Company seeks to amend Expressly provide in any provisions of its amended and restated memorandum and articles of association Instruction Letter (as defined in Exhibit A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed delivered in connection with a Termination Letter in a form substantially similar to that attached hereto as Exhibit A that the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating Deferred Discount be paid directly to the rights of holders of account or accounts directed by the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such AmendmentRepresentatives; and
(ixh) Within five four (54) business days after the Underwriters Underwriters’ exercise their of the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $10,500,000 (or $12,075,000 if the Underwriters’ over-allotment option is exercised in full).
Appears in 1 contract
Sources: Investment Management Trust Agreement (Primavera Capital Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1.(j) or (xi)and i(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, ; provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all out-of-pocket expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(12), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheldwithheld or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheldwithheld or delayed. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(s) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(g), Schedule A and as may be provided in Section 2(ii)2(12) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiig) If the Company seeks to amend Expressly provide in any provisions of its amended and restated memorandum and articles of association Instruction Letter (as defined in Exhibit A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed delivered in connection with a Termination Letter in a form substantially similar to that attached hereto as Exhibit A that the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating Deferred Discount be paid directly to the rights of holders of account or accounts directed by the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such AmendmentRepresentatives; and
(ixh) Within five four (54) business days after the Underwriters Underwriters’ exercise their of the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $7,000,000 (or $8,050,000 if the Underwriters’ overallotment option is exercised in full).
Appears in 1 contract
Sources: Investment Management Trust Agreement (Hony Capital Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President, Chief Executive Officer, Officer or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ix), (x1(i) or (xi)and 1(j) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;; 2 Insert date that is 21 months from the closing of the Offering, or 24 months from the closing of the Offering if the Company has executed a letter of intent, agreement in principle or definitive agreement for an initial business combination before the 21-month period ends.
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration monthly fee at the consummation of the Offering. The Trustee shall refund to the Company the monthly fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general stockholder meeting verifying the vote of such shareholders stockholders regarding such Business Combination;
(ve) Provide the Representatives Deutsche Bank Securities Inc. with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;; and
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (ROI Acquisition Corp. II)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (xj) or (xi)k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Underwriters with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the RepresentativesUnderwriters, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiih) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to that would modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixi) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Levere Holdings Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by one of the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyexecutive officers. In addition, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x1(j) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, care believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xiSection 1(i). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating shareholder votes verifying the vote of such the Company’s shareholders regarding such Business Combination;
(ve) Provide In the Representatives with a copy of any Termination Letter(s) and/or any other correspondence event that is sent to the Company directs the Trustee with respect to any proposed withdrawal from commence liquidation of the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between pursuant to Section 1(i), the Company and the Representatives, ensure agrees that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;
(viiif) If the Company seeks to amend any provisions of its amended Amended and restated memorandum Restated Memorandum and articles Articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares Association (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option rights in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Twelve Seas Investment Co)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyan Authorized Representative. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that providedthat the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all out-of-pocket expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that providedthat the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld, delayed, or conditioned. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld, delayed, or conditioned. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a any merger, share capital stock exchange, asset acquisition, share stock purchase, reorganization or other similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;; and
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Southern Cross Acquisition I Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Companyan Authorized Representative. In addition, except with respect to its duties under Sections 1(ix1(i), (xj), and (k) or (xi)hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 44 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed the disbursements are made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)solely in connection with the consummation of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) In connection with the Trustee acting as Paying/Disbursing Agent pursuant to Exhibit B, the Company will not give the Trustee disbursement instructions which would be prohibited under this Agreement;
(f) Within five business days after the Representatives, on behalf of the underwriters in the IPO, exercises the over-allotment option (or any unexercised portion thereof) or such over-allotment option expires, provide the Trustee with a notice in writing (with a copy to the Representatives) of the total amount of the Deferred Discount;
(g) In the event the Company is entitled to receive a tax refund on its income tax obligation, and promptly after the amount of such refund is determined on a final basis, provide the Trustee with notice in writing (with a copy to the Representatives) of the amount of such income tax refund;
(h) If the Company seeks to amend any provisions of its Charter that would affect the substance or timing of the Company’s Public Stockholders’ ability to convert or sell their shares to the Company in connection with a Business Combination or with respect to any other provisions relating to the rights of holders of the Common Stock, (in each case, an “Amendment”), the Company will provide the Trustee with a letter in the form of Exhibit D providing instructions for the distribution of funds to Public Stockholders who exercise their conversion option in connection with such Amendment;
(i) Provide the Representatives Underwriters with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vij) Unless otherwise agreed between the Company and the Representatives, ensure that Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;Underwriters; and
(viik) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Motor City Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer's President, Chief Financial Officer or other authorized officer Chairman of the CompanyBoard or Secretary. In addition, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x1(j) or (xi)and 1(k) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4, hold Hold the Trustee harmless and indemnify the Trustee and its directors, officers, agents and employees (the "indemnities") from and against any and all against, reasonable expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving caused by (i) the Trustee's execution and performance of this Investment Management Trust Agreement, except in the case of any claimindemnitee to the extent that such loss, liability or expense is due to the negligence or misconduct of such indemnitee, or in connection with (ii) its following any claim instructions or demand, which in any way arises out of or relates to this Agreement, other directions from the services of the Trustee hereunder, or the Property or any interest earned on the Propertyparties, except for expenses and losses resulting from to the Trustee’s gross negligence, fraud extent that its following any such instruction or willful misconduct. Promptly after the receipt direction is expressly forbidden by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii), it shall notify the Company in writing of such claim (an “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counselterms hereof;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, fee of $1,000 and an annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is of $3,500 (it being expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xifee). The Company shall pay the Trustee the initial acceptance fee and the fee for the first annual administration fee twelve months at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. Annual fees shall not be pro-rated for partial years. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(iiparagraph 2(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such paragraph);
(ivd) In the event that the Underwriter exercises its over-allotment option in whole or in part, provide to the Trustee notice in writing (with a copy to the Underwriter) of the total amount of the Deferred Discount promptly after the exercise of the over-allotment option in full or the expiration of any unexercised portion thereof;
(e) Provide to the Trustee any letter of intent, agreement in principle or definitive agreement that is executed in connection with a Business Combination, together with a certified copy of a unanimous resolution of the Board of Directors of the Company affirming that such letter of intent, agreement in principle or definitive agreement is in effect; and
(f) In connection with any vote of the Company’s shareholders 's stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such shareholders the Company's stockholders regarding such Business Combination;
(v) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (North American Insurance Leaders, Inc.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants tocovenants:
(ia) Give To provide all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer and Chief Financial Officer, Chief Financial Officer or other authorized officer of with a copy to the CompanyRepresentative. In addition, except with respect to its duties under Sections 1(ixparagraph 1(i), (x1(j) or (xiand 3(i), the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions; provided, provided however, that the Company and/or the Representative shall promptly confirm such instructions in writing;
(iib) Subject to Section 4, To hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel counsels’ fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud willful misconduct or willful misconductbad faith. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee Company shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee Company shall obtain the consent of the Company Trustee with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Neither the Company nor the Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheldother party. The Company Trustee may participate in such action with its own counselcounsel at its own expense;
(iiic) Pay To pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to this Agreement, as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that said transaction processing fees shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ix) through 1(xiSection 2(b). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the annual fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii3(c) and as may be provided in Section 2(ii3(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such section);
(ivd) That, in the event that the Company consummates a Business Combination and the Trust Account is liquidated in accordance with Section 1(i) hereof, the Trustee or another independent party designated by the Representative shall act as the inspector of election to certify the results of the shareholder vote and the Public Shareholder vote;
(e) That the Termination Letter referenced in Sections 1(i) and 3(i) hereof shall require the Company’s Chief Executive Officer and Chief Financial Officer to each certify the following as applicable: either (A) that (1) prior to the Termination Date, the Company has entered into a Business Combination with a target business, the terms of which are consistent with the requirements set forth in the Registration Statement; and (2) the Company’s board of directors has approved the Business Combination pursuant to a unanimous written consent or (B) that the Company failed to consummate a Business Combination prior to the Termination Date and that the Company shall be dissolved and liquidated in accordance with its Amended and Restated Certificate of Incorporation. A copy of such consent and the definitive agreement relating to the Business Combination so approved shall be attached as an exhibits to the Termination Letter;
(f) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), to provide to the Trustee an affidavit or certificate (the “Report”) of a firm regularly engaged in the inspector business of elections for soliciting proxies and tabulating stockholder votes (which firm may be the general meeting Trustee) verifying the vote of such the Company’s shareholders and Public Shareholders regarding such Business Combination. Such Report shall be attached as an exhibit to the Termination Letter, as applicable;
(v) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixg) Within five (5) business days after the Underwriters exercise their Underwriters’ over-allotment option to purchase additional units (or any unexercised portion thereof) expires or such option its exercise in full, to purchase additional units expires, provide the Trustee with a notice in writing (with a copy to the Underwriters) of the total amount of the Deferred Contingent Discount, which shall in no event be less than $3,375,000; and
(h) As soon as practicable after the Termination Date, to instruct the Trustee to commence liquidation of the Trust Account as part of the Company’s plan of dissolution and liquidation. The Trustee, after consultation with the Company and the Representative, shall deliver the Termination Notice to the Public Shareholders and ratably apportion the Trust Account to the Public Shareholders in accordance with Section 1(j) hereof.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Seanergy Maritime Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give Provide all instructions to the Trustee hereunder in writing, signed by the Company’s Co-Chief Executive Officer, Chief Financial Officer Officers or other authorized officer its Chairman of the CompanyBoard and Vice Chairman. In addition, except with respect to its duties under Sections 1(ix), (xparagraph 1(i) or (xi)and 1(j) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company and/or one of the Co-Managers, as applicable, shall promptly confirm such instructions in writing; and;
(iib) Subject to Section 4, hold Hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;; and
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, fee of $1,000 and an annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is of $3,000 (it being expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xifee). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);
paragraph 2(b) hereof (iv) In connection with it being expressly understood that the Property shall not be used to make any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide payments to the Trustee an affidavit under such paragraph).
(d) In the event that the Company consummates a Business Combination and the Trust Account is liquidated in accordance with Section 1(i) hereof, the Trustee or certificate of another independent party designated by R▇▇▇▇▇ shall act as the inspector of elections for election to certify the general meeting verifying the vote of such shareholders regarding such Business Combination;
(v) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf results of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendmentshareholder vote; and
(ixe) Within five The Officers’ Certificate referenced in Sections 1(i) and 1(j) hereof shall require the Company’s Co-Chief Executive Officers or its Chairman of the Board and Vice Chairman to each certify the following (5wherever applicable): (1) business days after prior to the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expiresLOI Termination Date, provide the Trustee Company has entered into a bona fide Letter of Intent with a notice target business; and/or (2) prior to the LOI Termination Date, the Company has entered into a Business Combination with a target business, the terms of which are consistent with the requirements set forth in writing the Registration Statement; and/or (3) prior to the Second Termination Date, the Company has entered into a Business Combination with a target business, the terms of which are consistent with the requirements set forth in the Registration Statement; and (4) the Board of Directors (the “Board”) pursuant to the unanimous written consent of the total amount Board has approved (where applicable): (i) the Business Combination; and/or (ii) Letter of Intent. A copy of such consent shall be attached as an exhibit to the Deferred DiscountOfficers’ Certificate.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Argyle Security Acquisition CORP)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, President, or Vice President and Chief Financial Officer Officer, Secretary or other authorized officer of the CompanyAssistant Secretary. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit suit, or other proceeding brought against the Trustee involving any claim, claim or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it such payment is distributed to in connection with the Company pursuant to Sections 1(ix) through 1(xi)consummation of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) Provide In the Representatives with a copy event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees that it will not direct the Trustee to make any Termination Letter(spayments that are not specifically authorized by this Agreement; and
(f) and/or any other correspondence that is sent to If the Company has an Amendment approved by its stockholders, provide the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination an Amendment Notification Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D C providing instructions for the distribution of funds to Public Shareholders Stockholders who exercise their redemption conversion option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Opes Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s a Chief Executive Officer, Officer or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixSection 1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s bad faith, willful misconduct or gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall may obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)hereof. The Company shall pay the Trustee upon receipt of an invoice from the initial acceptance fee and the first annual administration fee at the consummation of the OfferingTrustee. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives BTIG, LLC with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the Representatives, ensure that Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Form of Exhibit A expressly provides that the Deferred Discount is (as provided in the Underwriting Agreement, but subject to that certain Letter Agreement, dated December 4, 2025, between the Underwriter and the Company (the “Side Letter”)) be paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;BITG, LLC; and
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;.
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixh) Within five four (54) business days after the Underwriters exercise their Underwriter exercises the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of setting forth the total amount of the Deferred DiscountDiscount (as provided in the Underwriting Agreement).
Appears in 1 contract
Sources: Investment Management Trust Agreement (Leapfrog Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, President, or Vice President and Chief Financial Officer Officer, Secretary or other authorized officer of the CompanyAssistant Secretary. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 45 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit suit, or other proceeding brought against the Trustee involving any claim, claim or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)solely in connection with the consummation of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) Provide In the Representatives with a copy event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees that it will not direct the Trustee to make any Termination Letter(spayments that are not specifically authorized by this Agreement; and
(f) and/or any other correspondence that is sent to If the Company has an Amendment approved by its stockholders, provide the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination an Amendment Notification Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D C providing instructions for the distribution of funds to Public Shareholders Stockholders who exercise their redemption conversion option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Opes Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(i) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix), (x) or (xi), the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(ii) Subject to Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii), it shall notify the Company in writing of such claim (an “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iii) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix) through 1(xi). The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii);
(iv) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of such shareholders regarding such Business Combination;
(v) Provide the Representatives with a copy of any Termination Letter(s), Tax Payment Withdrawal Instruction(s), Shareholder Redemption Withdrawal Instruction(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixviii) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (SOAR Technology Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (x1(j) or (xi)and 1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all out-of-pocket expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheldwithheld or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheldwithheld or delayed. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ix1(i) through 1(xi)1(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the a “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(viif) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;
(viiig) If the Company seeks to amend Expressly provide in any provisions of its amended and restated memorandum and articles of association Instruction Letter (as defined in Exhibit A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed delivered in connection with a Termination Letter in a form substantially similar to that attached hereto as Exhibit A that the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating Deferred Discount be paid directly to the rights of holders of account or accounts directed by the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such AmendmentRepresentatives; and
(ixh) Within five four (54) business days after the Underwriters Underwriters’ exercise their of the over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $8,750,000 (or $10,062,500 if the Underwriters’ over-allotment option is exercised in full).
Appears in 1 contract
Sources: Investment Management Trust Agreement (Silver Spike Acquisition Corp II)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, President, Vice President or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixparagraphs 1(i), (x2(a) or (xi)and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 46(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee Company shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee Company shall obtain the consent of the Company Trustee with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee Company may not agree to settle any Indemnified Claim without the prior written consent of the Company, Trustee which such consent shall not be unreasonably withheld. The Company Trustee may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Sections 2(a) and 2(b) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ix1(i) through 1(xisolely in connection with the consummation of a Business Combination, or pursuant to Section 2(b). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingIPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company shall not be responsible for the annual fee (on a pro rata basis) with respect to any other fees or charges period after the liquidation of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Trust Fund;
(ivd) In connection with any vote of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “an Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business Combination;
(ve) Provide the Representatives The Company shall provide EBC with a copy of any Termination Letter(s) Letters and/or any other correspondence that is sent it issues to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;such issuance; and
(vif) Unless otherwise agreed between In the event that the Company and directs the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Trustee to commence liquidation of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account pursuant to Section 1(i), the Company or any other person;
(vii) Instruct the Trustee to make only those distributions agrees that are permitted under this Agreement, and refrain from instructing it will not direct the Trustee to make any distributions payments that are not permitted under specifically authorized by this Agreement;
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (MedWorth Acquisition Corp.)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board or Chief Executive Officer, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ixparagraphs 1(i), (xand 2(a) or (xi)above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 4the provisions of paragraph 5 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses loss suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest income earned on from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii)paragraph, it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; , provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to paragraph 2(a) as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed further agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(ixparagraphs 1(i) through 1(xisolely in connection with the consummation of a Business Transaction and 2(a). The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges IPO and thereafter on the anniversary of the Trustee except as set forth in this Section 2(iii) and as may be provided in Section 2(ii)Effective Date;
(ivd) In connection with any vote the vote, if any, of the Company’s shareholders stockholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”)Transaction, provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for the general meeting soliciting proxies and/or tabulating stockholder votes verifying the vote of such shareholders the Company’s stockholders regarding such Business CombinationTransaction;
(ve) Provide the Representatives In connection with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect acting as Paying/Disbursing Agent pursuant to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between Exhibit B, Exhibit C or Exhibit D, the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct will not give the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted disbursement instructions which would be prohibited under this Agreement;
(viiif) If Promptly after the Company seeks Advisory Fee and Contingent Fee shall become determinable on a final basis, to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing (with a copy to ▇▇▇▇▇▇ ▇▇▇▇▇▇) of the total amount of the Deferred DiscountAdvisory Fee and Contingent Fee; and
(g) In the event the Company is entitled to receive a tax refund on its income tax obligation, and promptly after the amount of such refund is determined on a final basis, to provide the Trustee with notice in writing (with a copy to ▇▇▇▇▇▇ ▇▇▇▇▇▇) of the amount of such income tax refund.
Appears in 1 contract
Sources: Investment Management Trust Agreement (57th Street General Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s a Chief Executive Officer, Officer or Chief Financial Officer or other authorized officer of the CompanyOfficer. In addition, except with respect to its duties under Sections 1(ixSection 1(i), (x1(j), and 1(k) or (xi)hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to Section 44 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s willful misconduct or gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, provided that the Trustee shall may obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld; provided, further that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)hereof. The Company shall pay the Trustee upon receipt of an invoice from the initial acceptance fee and the first annual administration fee at the consummation of the OfferingTrustee. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii2(c) and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the general shareholder meeting verifying the vote of such shareholders regarding such Business Combination;
(ve) Provide the Representatives Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vif) Unless otherwise agreed between the Company and the Representatives, ensure that Expressly provide in any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form Form of Exhibit A expressly provides that the Deferred Discount is be paid directly to the account or accounts directed by the Representatives Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;; and
(viig) Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted under this Agreement;.
(viii) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option in connection with such Amendment; and
(ixh) Within five four (54) business days after the Underwriters exercise their over-allotment option to purchase additional units (or any unexercised portion thereof) or such over-allotment option to purchase additional units expires, provide the Trustee with a notice in writing of setting forth the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Westin Acquisition Corp)
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:
(ia) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive OfficerPresident, Chief Financial Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(ix1(i), (xj), and (k) or (xi)hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, it in good faith and with reasonable care, care believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;
(iib) Subject to the provisions of Section 44 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against against, any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(ii2(b), it shall notify the Company in writing of such claim (an hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel;
(iiic) Pay the Trustee the fees an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made as set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees unless and until it is distributed the disbursements are made to the Company pursuant to Sections 1(ixSection 1(i) through 1(xi)solely in connection with the completion of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and the first annual administration year’s fee at the consummation of the OfferingOffering and thereafter on the anniversary of the Effective Date. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(iii) 2(c), Schedule A and as may be provided in Section 2(ii)2(b) hereof;
(ivd) In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the inspector business of elections for soliciting proxies and/or tabulating shareholder votes (which firm may be the general meeting Trustee) verifying the vote of such the Company’s shareholders regarding such Business Combination;
(ve) Provide the Representatives In connection with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect acting as Paying/Disbursing Agent pursuant to any proposed withdrawal from the Trust Account promptly after it issues the same;
(vi) Unless otherwise agreed between Exhibit B, the Company and the Representatives, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account or accounts directed by the Representatives on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account to the Company or any other person;
(vii) Instruct will not give the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are not permitted disbursement instructions which would be prohibited under this Agreement;
(viiif) Within five business days after the Representatives, on behalf of the underwriters in the Offering, exercises the over-allotment option (or any unexercised portion thereof) or such over-allotment option expires, provide the Trustee with a notice in writing (with a copy to the Representatives) of the total amount of the Deferred Discount;
(g) In the event the Company is entitled to receive a tax refund on its tax obligation, and promptly after the amount of such refund is determined on a final basis, provide the Trustee with notice in writing (with a copy to the Representatives) of the amount of such tax refund; and
(h) If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify Charter that would affect the substance or timing of the Company’s obligation Public Shareholders’ ability to provide holders of the Ordinary Shares the right to have convert or sell their shares redeemed to the Company in connection with the Company’s initial a Business Combination or to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth therein or (B) with respect to any other provision provisions relating to the rights of holders of the Ordinary Shares Class A ordinary shares, (in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption conversion option in connection with such Amendment; and
(ix) Within five (5) business days after the Underwriters exercise their option to purchase additional units (or any unexercised portion thereof) or such option to purchase additional units expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.
Appears in 1 contract
Sources: Investment Management Trust Agreement (Trebia Acquisition Corp.)