Common use of No Claim Against Trust Fund Clause in Contracts

No Claim Against Trust Fund. Notwithstanding anything else in this Agreement, the Company and the Signing Shareholders acknowledge that they have read Parent’s final prospectus dated August 17, 2005 and understand that Parent has established the Trust Fund for the benefit of Parent’s public stockholders and that Parent may disburse monies from the Trust Fund only (a) to Parent’s public stockholders if they elect to convert their shares to cash in accordance with Parent’s Charter Documents and/or the liquidation of Parent or (b) to Parent after it consummates a business combination. The Company and the Signing Shareholders further acknowledge that, if the transactions contemplated by this Agreement or, upon termination of this Agreement, another business combination, are not consummated by August 23, 2007, Parent will be obligated to return to its stockholders the amounts being held in the Trust Fund. Accordingly, the Company and the Signing Shareholders, for themselves and their subsidiaries, affiliated entities, directors, officers, employees, stockholders, representatives and advisors, hereby waive all rights against Parent to collect from the Trust Fund any monies that may be owed to them by Parent for any reason whatsoever, including but not limited to a breach of this Agreement by Parent or any negotiations, agreements or understandings with Parent, and will not seek recourse against the Trust Fund at any time for any reason whatsoever.

Appears in 2 contracts

Samples: Merger Agreement (Ithaka Acquisition Corp), Merger Agreement (Ithaka Acquisition Corp)

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No Claim Against Trust Fund. Notwithstanding anything else in this Agreement, the Company and the Signing Shareholders acknowledge Stockholder acknowledges that they have it has read Parent’s final prospectus dated August 17June 21, 2005 2011 and understand understands that Parent has established the Trust Fund for the benefit of Parent’s public stockholders and that Parent may disburse monies from the Trust Fund only (a) to Parent’s public stockholders if in the event they elect to convert their shares to into cash in accordance with Parent’s Charter Documents and/or the liquidation of Parent or Parent, (b) to Parent after it consummates after, or concurrently with, the consummation of a business combination, and (c) to Parent in limited amounts for its working capital requirements and tax obligations. The Company and the Signing Shareholders Stockholder further acknowledge that, if the transactions contemplated by this Agreement Agreement, or, upon termination of this Agreement, another business combination, are not consummated by August 23June 24, 20072013, Parent will be obligated to return to its stockholders the amounts being held in the Trust Fund. Accordingly, the Company and the Signing ShareholdersCompany, for themselves itself and their its subsidiaries, affiliated entities, directors, officers, employees, stockholders, representatives representatives, advisors and advisorsall other associates and Affiliates, and Stockholder, for itself, hereby waive all rights rights, title, interest or claim of any kind against Parent to collect from the Trust Fund any monies that may be owed to them by Parent for any reason whatsoever, including but not limited to a breach of this Agreement by Parent or any negotiations, agreements or understandings with ParentParent (whether in the past, present or future), and will not seek recourse against the Trust Fund at any time for any reason whatsoever. This paragraph will survive the termination of this Agreement for any reason.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Trio Merger Corp.)

No Claim Against Trust Fund. Notwithstanding anything else in this Agreement, the Company and the Signing Shareholders acknowledge acknowledges that they have it has read Parent’s final prospectus dated August 17January 29, 2005 2007 and understand understands that Parent has established the Trust Fund for the benefit of Parent’s public stockholders and that that, subject to the limited exceptions described therein, Parent may disburse monies from the Trust Fund only (a) to Parent’s public stockholders if in the event they elect to convert their shares to into cash in accordance with Parent’s Charter Documents certificate of incorporation and/or the liquidation of Parent or (b) to Parent after it consummates a business combination. The Company and the Signing Shareholders further acknowledge acknowledges that, if the transactions contemplated by this Agreement Transactions, or, upon termination of this Agreement, another business combination, are not consummated by August 23January 29, 20072009, Parent will shall be obligated to return to its stockholders the amounts being held in the Trust Fund. Accordingly, the Company and the Signing ShareholdersCompany, for themselves itself and their each of its subsidiaries, affiliated entities, directors, officers, employees, stockholders, representatives representatives, advisors and advisorsall other associates and affiliates, hereby waive all rights rights, title, interest or claim of any kind against Parent to collect from the Trust Fund any monies that may be owed to them by Parent for any reason whatsoever, including but not limited to a breach of this Agreement by Parent or any negotiations, agreements or understandings with ParentParent (whether in the past, present or future), and will shall not seek recourse against the Trust Fund at any time for any reason whatsoever. This paragraph shall survive this Agreement and shall not expire and may not be altered in any way without the express written consent of Parent.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Renaissance Acquisition Corp.)

No Claim Against Trust Fund. Notwithstanding anything else in this Agreement, the Company and the Signing Shareholders acknowledge Seller acknowledges that they have it has read Parent’s Purchaser's final prospectus dated August 17June 30, 2005 and understand understands that Parent Purchaser has established the Trust Fund for the benefit of Parent’s Purchaser's public stockholders and that Parent Purchaser may disburse monies from the Trust Fund only (a) to Parent’s Purchaser's public stockholders if in the event they elect to convert their shares to into cash in accordance with Parent’s Purchaser's Charter Documents and/or the liquidation of Parent Purchaser or (b) to Parent Purchaser after it consummates a business combination. The Company and the Signing Shareholders Seller further acknowledge acknowledges that, if the transactions contemplated by this Agreement Agreement, or, upon termination of this Agreement, another business combination, are not consummated by August 23July 6, 2007, Parent Purchaser will be obligated to return to its stockholders the amounts being held in the Trust Fund. Accordingly, the Company and the Signing ShareholdersSeller, for themselves itself and their subsidiariesits Subsidiaries, affiliated entities, directorsmanagers, officers, employees, stockholdersmembers, representatives representatives, advisors and advisorsall other associates and affiliates, hereby waive all rights rights, title, interest or claim of any kind against Parent Purchaser to collect from the Trust Fund any monies that may be owed to them by Parent Purchaser for any reason whatsoever, including but not limited to a breach of this Agreement by Parent Purchaser or any negotiations, agreements or understandings with ParentPurchaser (whether in the past, present or future), and will not seek recourse against the Trust Fund at any time for any reason whatsoever. This paragraph will survive this Agreement and will not expire and will not be altered in any way without the express written consent of Purchaser.

Appears in 1 contract

Samples: Asset Purchase Agreement (Courtside Acquisition Corp)

No Claim Against Trust Fund. Notwithstanding anything else in this Agreement, the Company and the Signing Shareholders acknowledge acknowledges that they have it has read Parent’s final prospectus dated August 17November 10, 2005 2020 (“Final Prospectus”) and understand understands that Parent has established the Trust Fund for the benefit of Parent’s public stockholders and that Parent may disburse monies from the Trust Fund only (a) to Parent’s public stockholders if in the event they elect to convert their shares to into cash in accordance with Parent’s Charter Documents and/or the liquidation of Parent or (b) to Parent after it consummates after, or concurrently with, the consummation of a business combination. The Company and the Signing Shareholders further acknowledge that, if the transactions contemplated by this Agreement or, upon termination of this Agreement, another business combination, are not consummated by August 23, 2007, Parent will be obligated to return to its stockholders the amounts being held in the Trust Fund. Accordingly, the Company Company, on behalf of itself and the Signing Shareholders, for themselves and their subsidiaries, affiliated entities, directors, officers, employees, stockholders, representatives and advisorsits Affiliates, hereby waive waives all rights rights, title, interest or claim of any kind against Parent to collect from the Trust Fund any monies that may be owed to them by Parent for any reason whatsoever, including but not limited to a breach of this Agreement by Parent or any negotiations, agreements or understandings with ParentParent (whether in the past, present or future), and will not seek recourse against the Trust Fund at any time for any reason whatsoever. This paragraph will survive the termination of this Agreement for any reason, but notwithstanding anything set forth herein will not limit the rights of the Company or its Stockholders at or following the Closing.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Northern Star Acquisition Corp.)

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No Claim Against Trust Fund. Notwithstanding anything else in this Agreement, the Company and the Signing Shareholders acknowledge Stockholder acknowledges that they have it has read Parent’s final prospectus dated August 17December 6, 2005 2007 and understand understands that Parent has established a certain trust account referenced in Section 2(c) of the Trust Fund Agreement dated December 6, 2007 (“Trust Fund”) for the benefit of Parent’s public stockholders and that Parent may disburse monies from the Trust Fund only (a) to Parent’s public stockholders if in the event they elect to convert their shares to into cash in accordance with Parent’s Charter Documents and/or the liquidation of Parent or Parent, (b) to Parent after it consummates after, or concurrently with, the consummation of a business combination, and (c) to Parent in limited amounts for its working capital requirements and tax obligations. The Company and the Signing Shareholders Stockholder further acknowledge that, if the transactions contemplated by this Agreement Agreement, or, upon termination of this Agreement, another business combination, are not consummated by August 23December 6, 20072009, Parent will be obligated to return to its stockholders the amounts being held in the Trust Fund. Accordingly, each of the Company Stockholder and the Signing ShareholdersCompany, for themselves itself and their its subsidiaries, affiliated entities, directors, officers, employees, stockholders, representatives representatives, advisors and advisorsall other associates, hereby waive all rights rights, title, interest or claim of any kind against Parent to collect from the Trust Fund any monies that may be owed to them by Parent for any reason whatsoever, including but not limited to a breach of this Agreement by Parent or any negotiations, agreements or understandings with ParentParent (whether in the past, present or future), and will not seek recourse against the Trust Fund at any time for any reason whatsoever. This paragraph will survive this Agreement and will not expire and will not be altered in any way without the express written consent of Parent, the Company and the Stockholder.

Appears in 1 contract

Samples: Securities Purchase Agreement (Tremisis Energy Acquisition CORP II)

No Claim Against Trust Fund. Notwithstanding anything else in this Agreement, the Company and the Signing Shareholders acknowledge each Stockholder acknowledges that they have it has read Parent’s final prospectus dated August 17April 24, 2005 2007 and understand understands that Parent has established the Trust Fund for the benefit of Parent’s public stockholders and that Parent may disburse monies from the Trust Fund only (a) to Parent’s public stockholders if in the event they elect to convert their shares to into cash in accordance with Parent’s Charter Documents and/or the liquidation of Parent or Parent, (b) to Parent after it consummates after, or concurrently with, the consummation of a business combination, and (c) to Parent in limited amounts for its working capital requirements and tax obligations. The Company and the Signing Shareholders each Stockholder further acknowledge that, if the transactions contemplated by this Agreement Agreement, or, upon termination of this Agreement, another business combination, are not consummated by August 23April 24, 20072009, Parent will be obligated to return to its stockholders the amounts being held in the Trust Fund. Accordingly, the Company and the Signing ShareholdersCompany, for themselves itself and their its subsidiaries, affiliated entities, directors, officers, employees, stockholders, representatives representatives, advisors and advisorsall other associates and affiliates, and each Stockholder, for his, her or itself, hereby waive all rights rights, title, interest or claim of any kind against Parent to collect from the Trust Fund any monies that may be owed to them by Parent for any reason whatsoever, including but not limited to a breach of this Agreement by Parent or any negotiations, agreements or understandings with ParentParent (whether in the past, present or future), and will not seek recourse against the Trust Fund at any time for any reason whatsoever. This paragraph will survive this Agreement and will not expire and will not be altered in any way without the express written consent of the Committee, Parent, the Company and each Stockholder.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Victory Acquisition Corp)

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