Purchaser Units. Immediately prior to the First Effective Time, each issued and outstanding Purchaser Unit shall be automatically separated, and the holder thereof shall be deemed to hold one share of DE- Purchaser Common Stock and one Purchaser Right in accordance with the terms of the Purchaser Units, which underlying Purchaser Securities shall be converted in accordance with the applicable terms of this Section 1.7.
Appears in 2 contracts
Sources: Business Combination Agreement (American Resources Corp), Business Combination Agreement (AI Transportation Acquisition Corp)
Purchaser Units. Immediately prior to At the First Initial Merger Effective Time, each every issued and outstanding Purchaser Unit shall be automatically separated, detached and the holder thereof shall be deemed to hold one share Purchaser Class A Share and one-third of DE- Purchaser Common Stock and one Purchaser Right Warrant in accordance with the terms of the applicable Purchaser UnitsUnit, which underlying Purchaser Securities shall be converted in accordance with the applicable terms of this Section 1.71.1(f) below.
Appears in 1 contract
Sources: Business Combination Agreement (Far Peak Acquisition Corp)