Permitted Withdrawals definition
Permitted Withdrawals means amounts to be withdrawn from the Trust Account to pay the Company’s franchise and income taxes, provided that all permitted withdrawals can only be made (x) from interest earned (less up to $100,000 interest to pay dissolution expenses) and not from the principal held in the Trust Account and (y) only to the extent such interest is in amount sufficient to cover the Permitted Withdrawal amount; (vi) ”Private Placement Units” shall mean the Units to purchase up to an aggregate of 500,000 Units of the Company (or up to 528,125 units if the underwriters’ over-allotment option is exercised in full) that Sponsor has agreed to purchase for an aggregate purchase price of $5,000,000 (or up to $5,281,250 if the over-allotment option is exercised in full) or $10.00 per Units, in a private placement that shall occur simultaneously with the consummation of the Public Offering; (vii) ”Public Shareholders” shall mean the holders of securities issued in the Public Offering; (viii) “Section 16” shall mean Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the Commission promulgated thereunder; (ix) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering and certain proceeds from the sale of the Private Placement Warrants (to the extent overfunded) shall be deposited; and (x) ”Transfer” shall mean to (a) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act, with respect to any security or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares, (b) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) publicly announce any intention to effect any transaction specified in clause (a) or (b).
Permitted Withdrawals means amounts withdrawn to fund our working capital requirements, subject to an annual limit of $1,000,000, and/or to pay our taxes;
Permitted Withdrawals. Any withdrawal by Seller of amounts on deposit in the Hedge Account, but only to the extent (i) that no Default or Event of Default has occurred and is continuing, (ii) such amounts relate to an Interest Rate Protection Agreement entered into with respect to an Asset that is a Purchased Asset and (iii) such amounts (a) relate to regularly scheduled payments due to Seller pursuant to a Hedge Counterparty’s obligations under the related Interest Rate Protection Agreement, (b) relate to regularly scheduled payments due to a Hedge Counterparty pursuant to Seller’s obligations under an Interest Rate Protection Agreement, or (c) are required to be delivered to a Hedge Counterparty in satisfaction of Seller’s collateral posting requirements under an Interest Rate Protection Agreement.
Examples of Permitted Withdrawals in a sentence
Prior to the occurrence of a Default or an Event of Default, Seller may withdraw from the Hedge Account any amounts representing Permitted Withdrawals.
More Definitions of Permitted Withdrawals
Permitted Withdrawals means withdrawals from the interest accrued in the Trust Account, in accordance with Colombier’s Current Charter and IPO prospectus, to (i) fund Colombier’s working capital requirements, subject to an annual limit of $1,000,000, and (ii) pay Colombier’s taxes, provided that notwithstanding the $1,000,000 annual limitation applicable to working capital withdrawals; provided that all Permitted Withdrawals may only be made from interest and not from the principal held in the Trust Account.
Permitted Withdrawals means interest earned on the funds held in the Trust Account that may be released to the Company to fund working capital and regulatory compliance requirements and other costs related thereto.
Permitted Withdrawals. Any withdrawal by Seller of amounts on deposit in the Hedge Account, but only to the extent that (i) no Default or Event of Default has occurred and is continuing, (ii) such amounts relate to an Interest Rate Protection Agreement entered into with respect to an Asset that is a Purchased Asset and (iii) such amounts (a) relate to regularly scheduled payments due to a Hedge Counterparty pursuant to Seller’s obligations under an Interest Rate Protection Agreement, or (b) are required to be delivered to a Hedge Counterparty in satisfaction of Seller’s collateral or margin posting requirements under an Interest Rate Protection Agreement.
Permitted Withdrawals means amounts withdrawn from the Trust Account (i) to fund working capital requirements, subject to an annual limit of five per cent (5%) of the interest earned on the funds held in the Trust Account, and/or (ii) to pay franchise and income tax obligations.
Permitted Withdrawals means amounts that may be withdrawn from the Trust Account to fund South Mountain’s regulatory compliance costs and to pay its taxes.
Permitted Withdrawals means amounts withdrawn from the Trust Account to (i) fund the Company’s working capital requirements following this offering related to our search for a Business Combination, to fund repayment of amounts owed under a promissory note between the Company and the Sponsor, to pay underwriting fees and expenses, subject to an aggregate annual limit of 0.5% of the amount raised in the IPO ($1,250,000, or up to $1,437,500 if the underwriter’s over-allotment option is exercised in full), and (ii) to pay the Company’s taxes.
Permitted Withdrawals means, other than in connection with litigation, arbitration or regulatory proceedings, authorized withdrawals, if any, by County Bank of Rehoboth Beach, Delaware ("County Bank") from the Indemnity Accounts only, pursuant to the provisions of section 7.(a) of those certain Nonexclusive Master Sale, Participation, Servicing and Indemnification Agreements constituting a part of the Pay-Day Advance Loan Documents, for administrative, overhead, and operating expenses and legal expenses related to the content, development and structure of County Bank's pay-day advance loan program including, by way of example, expansion of the Borrower's or Subsidiaries' pay-day advance loan business into new markets or operational changes. Such administrative, overhead and operating expenses include, by way of example, audit fees and expenses, delivery fees, wire fees, inspection fees, background checks, and insurance.