EBC definition
Examples of EBC in a sentence
Each of the Initial Shareholders has executed a letter agreement with EBC and the Company, dated as of the date hereof, and the form of which is filed as an exhibit to the Registration Statement (the “Insider Letter”), respecting the rights and obligations of such Initial Shareholder in certain events, including but not limited to the liquidation of the Company.
The holders of the EBC Founder Shares will not sell, transfer, assign, pledge or hypothecate any of the EBC Founder Shares for a period of 180 days pursuant to Conduct Rule 5110(e)(1) of the Financial Industry Regulatory Authority, Inc.
The holders of the EBC Founder Shares shall have registration rights as provided for in the Registration Rights Agreement (as defined in Section 2.24.5).
The demand and piggyback registration rights being granted to EBC and its respective designees and related persons are subject to FINRA Rule 5110(g)(8) and are limited to one demand and unlimited “piggy-back” rights for periods of five and seven years, respectively, from the commencement of sales of the Company’s initial public offering.
Notwithstanding the foregoing, the Representative and the Company acknowledge and agree that, from and after the consummation by the Company of its initial Business Combination, the EBC Founder Shares shall not bear any restrictive legends relating thereto, and the Company shall cause its transfer agent to remove any such legends no later than the consummation of its initial Business Combination.