Common use of Disbursement of the Escrow Warrants Clause in Contracts

Disbursement of the Escrow Warrants. The Escrow Agent shall hold the Escrow Warrants until such time that the Company consummates a Business Combination (as such term is defined in the Registration Statement); provided, however, that if the Escrow Agent is notified by the Company pursuant to Section 6.7 hereof that the Company is being liquidated at any time during the Escrow Period, then immediately prior to the effectiveness of such liquidation, the Escrow Agent shall promptly destroy the certificates representing the Escrow Warrants and the Escrow Warrants shall no longer be considered issued and outstanding securities of the Company. The Escrow Agent shall have no further duties hereunder after the disbursement or destruction of the Escrow Warrants in accordance with this Section 3.2.