Common use of Deferred Discount Clause in Contracts

Deferred Discount. The Underwriters agree that 3.5% of the gross proceeds from the sale of the Firm Units ($2,975,000) and 3.5% of the gross proceeds from the sale of the Option Units (up to $446,250) (the “Deferred Discount”) will be deposited in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Underwriters for their own account upon consummation of the Business Combination. The Underwriters hereby agree that if no Business Combination is consummated within the time period provided in the Trust Agreement and the funds held under the Trust Agreement are distributed to the holders of the shares of Common Stock included in the Units sold pursuant to this Agreement, (i) the Underwriters will forfeit any rights or claims to the Deferred Discount and (ii) the trustee under the Trust Agreement is authorized to distribute the Deferred Discount to the public stockholders on a pro rata basis.

Deferred Discount. The Underwriters agree that 3.5% of the gross proceeds from the sale of the Firm Units ($2,975,0002,625,000) and 3.5% of the gross proceeds from the sale of the Option Units (up to $446,250393,750) (the “Deferred Discount”) will be deposited in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Underwriters for their own account upon consummation of the Business Combination. The Underwriters hereby agree that if no Business Combination is consummated within the time period provided in the Trust Agreement and the funds held under the Trust Agreement are distributed to the holders of the shares of Common Stock Ordinary Shares included in the Units sold pursuant to this Agreement, (i) the Underwriters will forfeit any rights or claims to the Deferred Discount and (ii) the trustee under the Trust Agreement is authorized to distribute the Deferred Discount to the public stockholders shareholders on a pro rata basis.

Deferred Discount. The Underwriters agree that 3.5% of the gross proceeds from the sale of the Firm Units ($2,975,0002,625,000) and 3.5% of the gross proceeds from the sale of the Option Units (up to $446,250393,750) (the “Deferred Discount”) will be deposited in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Underwriters for their own account upon consummation of the Business Combination. The Underwriters hereby agree that if no Business Combination is consummated within the time period provided in the Trust Agreement and the funds held under the Trust Agreement are distributed to the holders of the shares of Common Stock included in the Units sold pursuant to this Agreement, (i) the Underwriters will forfeit any rights or claims to the Deferred Discount and (ii) the trustee under the Trust Agreement is authorized to distribute the Deferred Discount to the public stockholders on a pro rata basis.

Deferred Discount. The Underwriters agree that 3.5% of the gross proceeds from the sale of the Firm Units ($2,975,0002,100,000) and 3.5% of the gross proceeds from the sale of the Option Units (up to $446,250315,000) (the “Deferred Discount”) will be deposited in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Underwriters for their own account upon consummation of the Business Combination. The Underwriters hereby agree that if no Business Combination is consummated within the time period provided in the Trust Agreement and the funds held under the Trust Agreement are distributed to the holders of the shares of Common Stock included in the Units sold pursuant to this Agreement, (i) the Underwriters will forfeit any rights or claims to the Deferred Discount and (ii) the trustee under the Trust Agreement is authorized to distribute the Deferred Discount to the public stockholders on a pro rata basis.

Deferred Discount. The Underwriters agree that 3.5% of the gross proceeds from the sale of the Firm Units ($2,975,0002.975,000) and 3.5% of the gross proceeds from the sale of the Option Units (up to $446,250) (the “Deferred Discount”) will be deposited in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Underwriters for their own account upon consummation of the Business Combination. The Underwriters hereby agree that if no Business Combination is consummated within the time period provided in the Trust Agreement and the funds held under the Trust Agreement are distributed to the holders of the shares of Common Stock included in the Units sold pursuant to this Agreement, (i) the Underwriters will forfeit any rights or claims to the Deferred Discount and (ii) the trustee under the Trust Agreement is authorized to distribute the Deferred Discount to the public stockholders on a pro rata basis.

Deferred Discount. The Underwriters agree that 3.5% of the gross proceeds from the sale of the Firm Units ($2,975,0002,800,000) and 3.5% of the gross proceeds from the sale of the Option Units (up to $446,250420,000) (the “Deferred Discount”) will be deposited in and held in the Trust Account and payable directly from the Trust Account, without accrued interest, to Underwriters for their own account upon consummation of the Business Combination. The Underwriters hereby agree that if no Business Combination is consummated within the time period provided in the Trust Agreement and the funds held under the Trust Agreement are distributed to the holders of the shares of Common Stock included in the Units sold pursuant to this Agreement, (i) the Underwriters will forfeit any rights or claims to the Deferred Discount and (ii) the trustee under the Trust Agreement is authorized to distribute the Deferred Discount to the public stockholders on a pro rata basis.