Common use of Initial Merger Clause in Contracts

Initial Merger. Upon the terms and subject to the conditions set forth in this Agreement and in accordance with the applicable provisions of the Plan of Initial Merger and Part XVI of the Cayman Act, at the Initial Merger Effective Time, Merger Sub 1 and SPAC shall consummate the Initial Merger, pursuant to which SPAC shall be merged with and into Merger Sub 1, following which the separate corporate existence of SPAC shall cease, and Merger Sub 1 shall continue as the surviving company after the Initial Merger as a wholly-owned subsidiary of PubCo.

Initial Merger. Upon the terms and subject to the conditions set forth in this Agreement Agreement, and in accordance with the applicable provisions of the Plan of Initial Merger and Part XVI of the Cayman Companies Act, at the Initial Merger Effective Time, Merger Sub 1 and SPAC shall consummate the Initial Merger, pursuant to which SPAC shall be merged with and into Merger Sub 1the Company, following which and the separate corporate existence of SPAC Merger Sub 1 shall cease, and Merger Sub 1 shall continue the Company, as the surviving company after the Initial Merger Surviving Corporation, shall thereafter continue its corporate existence as a wholly-owned subsidiary of PubCo.