Common use of per Unit Clause in Contracts

per Unit. The Firm Units are to be offered initially to the public (the “Offering”) at the offering price of $10.00 per Firm Unit. Each Unit consists of one share of the Company’s common stock, par value $.001 per share (the “Common Stock”), and one warrant to purchase one share of Common Stock (the “Warrant(s)”). The shares of Common Stock and the Warrants included in the Firm Units will trade separately on the 20th trading day after the earlier to occur of the expiration of the Over-allotment Option (as hereinafter defined) or its exercise in full, but in no event will Maxim allow separate trading until the preparation of an audited balance sheet of the Company reflecting receipt by the Company of the proceeds of the Offering and the filing by the Company with the Securities and Exchange Commission (the “Commission”) of a Current Report on Form 8-K which includes such balance sheet. Each Warrant entitles its holder, upon exercise, to purchase one share of Common Stock for $8.00 during the period commencing on the later of the consummation by the Company of its “Business Combination” or one year from the effective date (the “Effective Date”) of the Registration Statement and terminating on the four-year anniversary of the Effective Date, unless earlier redeemed as provided in the Warrant Agreement (as defined in Section 2.21 hereof). As used herein, the term “Business Combination” shall mean the acquisition by the Company, whether by merger, capital stock exchange, asset or stock acquisition or other similar type of transaction, or a combination of the foregoing, one or more entities with agreements to acquire vessels or an operating business in the shipping industry (as described more fully in the Registration Statement). Maxim Group LLC _____________, 2005

per Unit. The Firm Units are to be offered initially to the public (the “"Offering”") at the offering price of $10.00 8.00 per Firm Unit. Each Unit consists of one share of the Company’s 's common stock, par value $.001 per share (the “"Common Stock”"), and one warrant to purchase one share of Common Stock (the “"Warrant(s)”"). The shares of Common Stock and the Warrants included in the Firm Units will trade not be separately on the 20th trading day transferable until 90 days after the earlier to occur effective date (the "Effective Date") of the expiration of the Over-allotment Option Registration Statement (as hereinafter defineddefined in Section 2.1.1 hereof) or unless Maxim informs the Company of its exercise in fulldecision to allow earlier separate trading, but in no event will Maxim allow separate trading until the preparation of an audited balance sheet of the Company reflecting receipt by the Company of the proceeds of the Offering and the filing by the Company with the Securities and Exchange Commission (the “"Commission”") of a Current Report on Form 8-K which includes such balance sheet. Each Warrant entitles its holder, upon exercise, to purchase one share of Common Stock for $8.00 6.00 during the period commencing on the later of the consummation by the Company of its “"Business Combination” " or one year from the effective date (the “Effective Date”) Date of the Registration Statement and terminating on the four-year anniversary of the Effective Date, unless earlier redeemed as provided in the Warrant Agreement (as defined in Section 2.21 hereof). As used herein, the term “"Business Combination” " shall mean the acquisition by the Company, whether by merger, capital stock exchange, asset or stock acquisition or other similar type of transaction, or a combination of the foregoing, of one or more entities with agreements to acquire vessels or an operating business businesses in the shipping industry (as described more fully in the Registration Statement). Maxim Group LLC _____________, 2005.

per Unit. The Firm Units are to be offered initially to the public (the “"Offering”") at the offering price of $10.00 per Firm Unit. Each Unit consists of one share of the Company’s 's common stock, par value $.001 per share (the “"Common Stock”"), and one warrant to purchase one share of Common Stock (the “"Warrant(s)”"). The shares of Common Stock and the Warrants included in the Firm Units will trade not be separately on the 20th trading day transferable until 90 days after the earlier to occur effective date (the "Effective Date") of the expiration of the Over-allotment Option Registration Statement (as hereinafter defineddefined in Section 2.1.1 hereof) or unless Maxim informs the Company of its exercise in fulldecision to allow earlier separate trading, but in no event will Maxim allow separate trading until the preparation of an audited balance sheet of the Company reflecting receipt by the Company of the proceeds of the Offering and the filing by the Company with the Securities and Exchange Commission (the “"Commission”") of a Current Report on Form 8-K which includes such balance sheet. Each Warrant entitles its holder, upon exercise, to purchase one share of Common Stock for $8.00 during the period commencing on the later of the consummation by the Company of its “"Business Combination” " or one year from the effective date (the “Effective Date”) Date of the Registration Statement and terminating on the four-year anniversary of the Effective Date, unless earlier redeemed as provided in the Warrant Agreement (as defined in Section 2.21 hereof). As used herein, the term “"Business Combination” " shall mean the acquisition by the Company, whether by merger, capital stock exchange, asset or stock acquisition or other similar type of transaction, or a combination of the foregoing, of one or more entities with agreements to acquire vessels or an operating business businesses in the shipping industry (as described more fully in the Registration Statement). Maxim Group LLC _____________, 2005.

per Unit. The Firm Units are to be offered initially to the public (the “"Offering”") at the offering price of $10.00 8.00 per Firm Unit. Each Unit consists of one (1) share of the Company’s 's common stock, par value $.001 per share (the “"Common Stock”"), and one (1) warrant to purchase one (1) share of Common Stock (the “"Warrant(s)”"). The shares of Common Stock and the Warrants included in the Firm Units will trade not be separately on the 20th trading day transferable until 90 days after the earlier to occur effective date (the "Effective Date") of the expiration of the Over-allotment Option Registration Statement (as hereinafter defineddefined in Section 2.1.1 hereof) or unless Maxim informs the Company of its exercise in fulldecision to allow earlier separate trading, but in no event will Maxim allow separate trading until the preparation of an audited balance sheet of the Company reflecting receipt by the Company of the proceeds of the Offering and the filing by the Company of such audited balance sheet with the Securities and Exchange Commission (the “Commission”as herein defined) of on a Current Report on Form 8-K or similar form by the Company which includes such balance sheet. Each Warrant entitles its holder, upon exercise, to purchase one share of Common Stock for $8.00 6.00 during the period commencing on the later of the consummation by the Company of its “"Business Combination” " or one year from the effective date (the “Effective Date”) Date of the Registration Statement and terminating on the four-year anniversary of the Effective Date, unless earlier redeemed as provided in the Warrant Agreement (as defined in Section 2.21 hereof). As used herein, the term “"Business Combination” shall mean the acquisition by the Company, whether by merger, capital stock exchange, asset or stock acquisition or other similar type of transaction, or a combination of the foregoing, one or more entities with agreements to acquire vessels or an operating business in the shipping industry " (as described more fully in the Registration Statement). Maxim Group LLC _____________) shall mean any merger, 2005capital stock exchange, asset pr stock acquisition or other similar business combination consummated by the Company with one or more related or unrelated operating business(es) or asset(s) in the hospitality industry.

per Unit. The Firm Units are to be offered initially to the public (the “Offering”) at the offering price of $10.00 8.00 per Firm Unit. Each Unit consists of one (1) share of the Company’s common stock, par value $.001 per share (the “Common Stock”), and one (1) warrant to purchase one (1) share of Common Stock (the “Warrant(s)”). The shares of Common Stock and the Warrants included in the Firm Units will trade not be separately on the 20th trading day transferable until 90 days after the earlier to occur effective date (the “Effective Date”) of the expiration of the Over-allotment Option Registration Statement (as hereinafter defineddefined in Section 2.1.1 hereof) or unless Maxim informs the Company of its exercise in fulldecision to allow earlier separate trading, but in no event will Maxim allow separate trading until the preparation of an audited balance sheet of the Company reflecting receipt by the Company of the proceeds of the Offering and the filing by the Company of such audited balance sheet with the Securities and Exchange Commission (the “Commission”as herein defined) of on a Current Report on Form 8-K or similar form by the Company which includes such balance sheet. Each Warrant entitles its holder, upon exercise, to purchase one share of Common Stock for $8.00 6.00 during the period commencing on the later of the consummation by the Company of its “Business Combination” or one year from the effective date (the “Effective Date”) Date of the Registration Statement and terminating on the four-year anniversary of the Effective Date, unless earlier redeemed as provided in the Warrant Agreement (as defined in Section 2.21 hereof). As used herein, the term “Business Combination” shall mean the acquisition by the Company, whether by merger, capital stock exchange, asset or stock acquisition or other similar type of transaction, or a combination of the foregoing, one or more entities with agreements to acquire vessels or an operating business in the shipping industry (as described more fully in the Registration Statement). Maxim Group LLC _____________) shall mean any merger, 2005capital stock exchange, asset pr stock acquisition or other similar business combination consummated by the Company with one or more related or unrelated operating business(es) or asset(s) in the hospitality industry.

per Unit. The Firm Units are to be offered initially to the public (the “"Offering”") at the offering price of $10.00 8.00 per Firm Unit. Each Unit consists of one (1) share of the Company’s 's common stock, par value $.001 per share (the “"Common Stock”"), and one (1) warrant to purchase one (1) share of Common Stock (the “"Warrant(s)”"). The shares of Common Stock and the Warrants included in the Firm Units will trade not be separately on the 20th trading day transferable until 90 days after the earlier to occur effective date (the "Effective Date") of the expiration of the Over-allotment Option Registration Statement (as hereinafter defineddefined in Section 2.1.1 hereof) or unless Maxim informs the Company of its exercise in fulldecision to allow earlier separate trading, but in no event will Maxim allow separate trading until the preparation of an audited Maxim Group LLC _________, 2005 Page 2 of 44 balance sheet of the Company reflecting receipt by the Company of the proceeds of the Offering and the filing by the Company of such audited balance sheet with the Securities and Exchange Commission (the “Commission”as herein defined) of on a Current Report on Form 8-K or similar form by the Company which includes such balance sheet. Each Warrant entitles its holder, upon exercise, to purchase one share of Common Stock for $8.00 6.00 during the period commencing on the later of the consummation by the Company of its “"Business Combination” " or one year from the effective date (the “Effective Date”) Date of the Registration Statement and terminating on the four-year anniversary of the Effective Date, unless earlier redeemed as provided in the Warrant Agreement (as defined in Section 2.21 hereof). As used herein, the term “"Business Combination” shall mean the acquisition by the Company, whether by merger, capital stock exchange, asset or stock acquisition or other similar type of transaction, or a combination of the foregoing, one or more entities with agreements to acquire vessels or an operating business in the shipping industry " (as described more fully in the Registration Statement). Maxim Group LLC _____________) shall mean any merger, 2005capital stock exchange, asset pr stock acquisition or other similar business combination consummated by the Company with one or more related or unrelated operating business(es) or asset(s) in the hospitality industry.