Common use of No Liability; No Further Ownership Rights Clause in Contracts

No Liability; No Further Ownership Rights. Notwithstanding anything to the contrary in this Section 1.1, none of the Company, SPAC or Merger Sub or any Party hereto shall be liable to any Person for any amount properly paid to a public official pursuant to any applicable abandoned property, escheat or similar Law. All consideration issuable in accordance with the consummation of the Merger shall be deemed to have been paid in full satisfaction of all rights pertaining to any SPAC Securities and from and after the Merger Effective Time, the holders thereof shall have no right other than to receive the consideration to be paid in connection with the Merger in accordance with this Section 1.1. At the close of business on the day on which the Merger Effective Time occurs, the share transfer books of SPAC shall be closed, and there shall be no further registration of transfers on the share transfer books of the Surviving Company or the Company of the SPAC Securities that were outstanding immediately prior to the Merger Effective Time.

Appears in 2 contracts

Samples: Business Combination Agreement (Keyarch Acquisition Corp), Business Combination Agreement (Global SPAC Partners Co,)

AutoNDA by SimpleDocs

No Liability; No Further Ownership Rights. Notwithstanding anything to the contrary in this Section 1.11.8, none of the Company, SPAC VSAC or Merger Sub or any Party hereto shall be liable to any Person for any amount properly paid to a public official pursuant to any applicable abandoned property, escheat or similar Law. All consideration issuable in accordance with the consummation of the Merger shall be deemed to have been paid in full satisfaction of all rights pertaining to any SPAC VSAC Securities and from and after the Merger Effective Time, the holders thereof shall have no right other than to receive the consideration to be paid in connection with the Merger in accordance with this Section 1.11.8. At the close of business on the day on which the Merger Effective Time occurs, the share transfer books of SPAC VSAC shall be closed, and there shall be no further registration of transfers on the share transfer books of the Surviving Company or the Company of the SPAC VSAC Securities that were outstanding immediately prior to the Merger Effective Time.

Appears in 1 contract

Samples: Business Combination Agreement (Vision Sensing Acquisition Corp.)

AutoNDA by SimpleDocs

No Liability; No Further Ownership Rights. Notwithstanding anything to the contrary in this Section 1.1, none of the Company, SPAC or Merger Sub or any Party hereto shall be liable to any Person for any amount properly paid to a public official pursuant to any applicable abandoned property, escheat or similar Law. All consideration issuable in accordance with the consummation of the Merger shall be deemed to have been paid in full satisfaction of all rights pertaining to any SPAC Securities Company Common Shares and from and after the Merger Effective Time, the holders thereof shall have no right other than to receive the consideration to be paid in connection with the Merger in accordance with this Section 1.1. At the close of business on the day on which the Merger Effective Time occurs, the share transfer books of SPAC the Company shall be closed, and there shall be no further registration of transfers on the share transfer books of the Surviving Company or the Company of the SPAC Securities Company Common Shares that were outstanding immediately prior to the Merger Effective Time.

Appears in 1 contract

Samples: Business Combination Agreement (Financial Strategies Acquisition Corp.)

Time is Money Join Law Insider Premium to draft better contracts faster.