Common use of Deferred Underwriting Commission Clause in Contracts

Deferred Underwriting Commission. The Underwriter agrees that 3.0% of the gross proceeds from the sale of the Firm Units ($1,500,000) (the “Deferred Underwriting Commission”) will be deposited, and held, in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust Company, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholders.

Deferred Underwriting Commission. The Underwriter agrees that 3.03.5% of the gross proceeds from the sale of the Firm Units Securities ($1,500,0005,075,000) and 3.5% of the gross proceeds from the sale of the Option Securities (up to $761,250) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative for its own account SVB Leerink upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust Company, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters Underwriter hereby forfeit forfeits any rights or claims to the Deferred Underwriting CommissionCommission any Underwriter may have; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholderspublic shareholders.

Deferred Underwriting Commission. The Underwriter agrees Underwriters agree that 3.03.5% of the gross proceeds from the sale of the Firm Units Securities ($1,500,0004,375,000) and 3.5% of the gross proceeds from the sale of the Option Securities (up to $656,250) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Chardan Capital Markets, LLC and Barclays Capital Inc. for its their own account upon consummation of the Company’s Business Combination. Each The Deferred Underwriting Commission is due and payable only to Chardan Capital Markets, LLC and Barclays Capital Inc., with 60% of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. Commission due to Chardan Capital Markets, LLC and 40% of the Deferred Underwriting Commission due to Barclays Capital Inc. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust Company, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting CommissionCommission any Underwriter may have; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholderspublic shareholders.

Deferred Underwriting Commission. The Underwriter agrees Underwriters agree that 3.03.5% of the gross proceeds from the sale of the Firm Units ($1,500,0003,150,000) and 3.5% of the gross proceeds from the sale of the Option Units (up to $472,500) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Maxim for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholderspublic stockholders.

Deferred Underwriting Commission. The Underwriter agrees Underwriters agree that 3.0% $87,500 of the gross proceeds from the sale of the Firm Units and $0.175 per Option Unit of the gross proceeds from the sale of the Option Units (up to $1,500,000315,000, for a total maximum of $402,500) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative I-Bankers for its their own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that except for the Deferred Underwriting Commission relating to 1,500,000 Units which shall be payable to EarlyBirdCapital, Inc., only the Representative I-Bankers shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust Company, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees Underwriters agree that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public ShareholdersStockholders.

Deferred Underwriting Commission. The Underwriter agrees that 3.02.0% of the gross proceeds from the sale of the Firm Units ($1,500,000780,000) and 2.0% of the gross proceeds from the sale of the Option Units (up to $897,000) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Chardan for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public ShareholdersStockholders.

Deferred Underwriting Commission. The Underwriter agrees that 3.02.5% of the gross proceeds from the sale of the Firm Units ($1,500,0004,375,000) and 2.5% of the gross proceeds from the sale of the Option Units (up to $[_____]) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Chardan for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public ShareholdersStockholders.

Deferred Underwriting Commission. The Underwriter agrees Underwriters agree that 3.03.25% of the gross proceeds from the sale of the Firm Units ($1,500,0003,250,000) and 3.25% of the gross proceeds from the sale of the Option Units (up to $487,500) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Maxim for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholderspublic shareholders.

Deferred Underwriting Commission. The Underwriter agrees that 3.04.0% of the gross proceeds from the sale of the Firm Units ($1,500,0001,600,000) and 4.0% of the gross proceeds from the sale of the Option Units (up to $240,000) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Chardan for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust Company, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholderspublic shareholders. The Deferred Underwriting Commission will be reduced by fifty percent (50%) for each Unit redeemed by the public shareholders in connection with the Business Combination.

Deferred Underwriting Commission. The Underwriter agrees Underwriters agree that 3.03.5% of the gross proceeds from the sale of the Firm Units ($1,500,0003,500,000) and 5.5% of the gross proceeds from the sale of the Option Units (up to $825,000) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Maxim for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter Underwriters agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholdersthen outstanding holders of Ordinary Shares sold in this Offering.

Deferred Underwriting Commission. The Underwriter agrees Underwriters agree that 3.03.5% of the gross proceeds from the sale of the Firm Units ($1,500,0007,000,000) and 3.5% of the gross proceeds from the sale of the Option Units (up to $1,050,000) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Maxim for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholderspublic stockholders.

Deferred Underwriting Commission. The Underwriter agrees Underwriters agree that 3.03.5% of the gross proceeds from the sale of the Firm Units ($1,500,0004,025,000) and 3.5% of the gross proceeds from the sale of the Option Units (up to $603,750) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Maxim for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholderspublic shareholders.

Deferred Underwriting Commission. The Underwriter agrees Underwriters agree that 3.04.0% of the gross proceeds from the sale of the Firm Units ($1,500,0001,600,000) and 4.0% of the gross proceeds from the sale of the Option Units (up to $240,000) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Chardan for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust Company, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholderspublic shareholders. The Deferred Underwriting Commission will be reduced by fifty percent (50%) for each Unit redeemed by the public shareholders in connection with the Business Combination.

Deferred Underwriting Commission. The Underwriter agrees Underwriters agree that 3.03.5% of the gross proceeds from the sale of the Firm Units ($1,500,0004,200,000) and 5.5% of the gross proceeds from the sale of the Option Units (up to $990,000) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Maxim for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter Underwriters agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholdersthen outstanding holders of Ordinary Shares sold in this Offering.

Deferred Underwriting Commission. The Underwriter agrees that 3.01.0% of the gross proceeds from the sale of the Firm Units ($1,500,000400,000) and 4.0% of the gross proceeds from the sale of the Option Units (up to $240,000) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Cantor Xxxxxxxxxx for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCST, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby Underwriter shall forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public ShareholdersStockholders.

Deferred Underwriting Commission. The Underwriter agrees that 3.03.5% of the gross proceeds from the sale of the Firm Units Securities ($1,500,0004,375,000) and 3.5% of the gross proceeds from the sale of the Option Securities (up to $656,250) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative for its own account SVB Leerink upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust Company, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters Underwriter hereby forfeit forfeits any rights or claims to the Deferred Underwriting CommissionCommission any Underwriter may have; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholderspublic shareholders.

Deferred Underwriting Commission. The Underwriter agrees that 3.04.0% of the gross proceeds from the sale of the Firm Units ($1,500,0001,600,000) and 4.0% of the gross proceeds from the sale of the Option Units (up to $240,000) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Chardan for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust Company, as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public ShareholdersStockholders. The amount of Deferred Underwriting Commission will be reduced by 2.0% for each Unit that is redeemed by shareholders prior to or in connection with the Company’s Business Combination.

Deferred Underwriting Commission. The Underwriter agrees Underwriters agree that 3.03.5% of the gross proceeds from the sale of the Firm Units ($1,500,0006,300,000) and 3.5% of the gross proceeds from the sale of the Option Units (up to $945,000) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Maxim for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public Shareholderspublic stockholders.

Deferred Underwriting Commission. The Underwriter agrees that 3.02.0% of the gross proceeds from the sale of the Firm Units ($1,500,000800,000) and 2.0% of the gross proceeds from the sale of the Option Units (up to $920,000) (the “Deferred Underwriting Commission”) will be deposited, deposited in and held, held in the Trust Account and payable directly from the Trust Account, without accrued interest, to the Representative Chardan for its own account upon consummation of the Company’s Business Combination. Each of the Underwriters acknowledges that only the Representative shall receive the Deferred Underwriting Commission. In the event that the Company is unable to consummate a Business Combination and Continental Stock Transfer & Trust CompanyCompany (“CST”), as the trustee of the Trust Account (in this context, the “Trustee”), commences liquidation of the Trust Account as provided in the Trust Agreement, the Underwriter agrees that: (i) the Underwriters hereby forfeit any rights or claims to the Deferred Underwriting Commission; and (ii) the Deferred Underwriting Commission, together with all other amounts on deposit in the Trust Account, shall be distributed on a pro-rata basis among the Public ShareholdersStockholders.