Common use of Minimum Cash Condition Clause in Contracts

Minimum Cash Condition. Upon the Closing, SPAC shall have an aggregate amount of (i) cash and cash equivalents, including funds remaining in the Trust Account (after giving effect to the completion and payment of the Closing Redemption), that (ii) when added to the aggregate proceeds of all Transaction Financing (including the Bridge Financing), whether received by SPAC, Pubco or a Target Company, and (iii) after deducing all SPAC Expenses (including SPAC’s deferred Expenses of the IPO and deferred advisor fees and the fees owed to the Placement Agent and SPAC’s other expenses incurred in connection with the Transaction Financing) and SPAC’s cash liabilities (whether due as of or after the Closing) (such net amount of clauses (i), (ii) and (iii), the “Net Cash”) is at least equal to Twenty-Three Million U.S. Dollars ($23,000,000) (the condition set forth in this Section 7.2(d), the “Minimum Cash Condition”).