Redemption Right definition
Examples of Redemption Right in a sentence
To the knowledge of SPAC, as of the date of this Agreement, following the Closing, no SPAC Shareholder is entitled to receive any amount from the Trust Account except to the extent such SPAC Shareholder has exercised his, her or its SPAC Shareholder Redemption Right.
If a Redemption Right is so specified, this Security may be redeemed at the option of the Company on any Business Day on and after the date, if any, specified on the face hereof (each, a "Redemption Date").
Unless a Redemption Right is specified on the face hereof, this Security shall not be redeemable at the option of the Company before the Maturity Date specified on the face hereof.
If the rollover described above is disabled or canceled, then on the applicable maturity date of the Promissory Note, all payments received in respect of the outstanding principal balance and all accrued interest will rollover into a Promissory Note with an Investor Redemption Right at the current and effective interest rate as of the rollover date.
Prior to the Closing, none of the funds held in the Trust Account may be released other than to pay Taxes and payment to SPAC Shareholders who have validly exercised their SPAC Shareholder Redemption Right.