Maximum Forward Purchase Clause Samples

Maximum Forward Purchase. At any time subsequent to the date of the consummation of the IPO (but in no event later than immediately prior to the Business Combination Closing), as described in the Registration Statement and subject to subparagraph (iv) hereof, the Purchasers shall purchase in the aggregate up to $16,000,000 of Forward Purchase Units (1,600,000 Forward Purchase Units) (the “Maximum Forward Purchase”). The Maximum Forward Purchase shall be effectuated, at the Purchasers’ election, in one or more private placements of Forward Purchase Units, at one or more times. The closing of any such private placement (other than if occurring immediately prior to the Business Combination Closing) shall occur as soon as practicable but no later than three business days after the Purchasers shall have issued a notice (a “Purchase Election Notice”) to the Company electing to consummate all or a portion of the Maximum Forward Purchase. The obligation to consummate the Maximum Forward Purchase set forth in this Section 1(a)(i) shall not be assignable or transferable by the Purchasers (provided that the individual obligation, as of any date of determination, of each Purchaser to consummate the Maximum Forward Purchase shall be limited to 50% of the Maximum Forward Purchase (the “Individual Maximum Forward Purchase Obligation”). In no event shall either Purchaser’s Individual Maximum Forward Purchase Obligation be deemed to include any portion of the other Purchaser’s Individual Maximum Forward Purchase Obligation. If a partial purchase occurs of the Maximum Forward Purchase amount by either Purchaser, the remainder of that Purchaser’s Individual Maximum Forward Purchase Obligation will continue to exist as an obligation of that Purchaser, subject to the terms and conditions of this Agreement.