FIAC definition
Examples of FIAC in a sentence
The Municipality will cooperate fully with any recommendations and requirements imposed by the FIAC.
Except with respect to interest earned on the funds held in the Trust Account that may be released to FIAC to pay its tax obligations, if any, the cash in the Trust Account may be disbursed only for the purposes set forth in the Final Prospectus.
In addition, the Municipality may elect to comply with FIAC prior to the funding of the Loan or at any time during the term of this Loan Agreement.
The FIAC shall be in substantially the form attached hereto as Exhibit I.
Upon failure of the Municipality to pay one or more installments of the Loan Repayments in a timely manner, or in the event that the Secretary deems it advisable or necessary, the Secretary, after consultation with the governing body of the Municipality, can require the Municipality to undergo a financial and management operations review or to comply with FIAC if permitted in accordance with Section 2.07 hereof.
The Investor acknowledges that FIAC is a blank check company with the powers and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving FIAC and one or more businesses or assets.
In accordance with the powers granted to the Secretary in the Loan Act, the Secretary may require at any time during the term of this Loan Agreement the requirement of FIAC for the Municipality; provided the Secretary shall not make such requirement so long as the Municipality maintains a financial rating on its general obligation bonds or Additional Revenue Obligations of not less than the lowest category of "A" from any Rating Agency.
As of the date hereof, FIAC is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be expected to be material to the financial condition, operating results or assets of FIAC.
Except as set forth on Section 6(d)(iii) to the Disclosure Letter, there are no agreements or arrangements under which FIAC (or New PubCo) is obligated to register the sale of any of its securities under the Securities Act.
There are 11,500,000 FIAC Public Warrants with a strike price of $11.50 and 11,200,000 FIAC Private Warrants outstanding with a strike price of $11.50.