Examples of SPAC Transaction in a sentence
This Agreement shall automatically terminate upon the earlier of (a) immediately prior to the consummation of the Company’s IPO or the closing of a SPAC Transaction, (b) the consummation of a Deemed Liquidation Event (as defined in the Restated Certificate) and (c) a transaction or series of related transactions in which a Person, or a group of related Persons, acquires from stockholders of the Company shares representing more than fifty percent (50%) of the outstanding voting power of the Company.
Notwithstanding the foregoing or anything to the contrary herein, the provisions of Section 2 shall not apply to the sale of any Transfer Stock (a) to the public in an offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (a “Public Offering”) (b) pursuant to a Deemed Liquidation Event (as defined in the Company’s Restated Certificate of Incorporation or (c) pursuant to a SPAC Transaction.
The covenants set forth in this Section 5, except for Section 5.6, shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO or the closing of a SPAC Transaction or (ii) upon a Deemed Liquidation Event, as such term is defined in the Restated Certificate, whichever event occurs first.
The covenants set forth in Section 3.1, Section 3.2 and Section 3.3 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, (iii) upon a Deemed Liquidation Event, as such term is defined in the Restated Certificate or (iv) upon the closing of a SPAC Transaction, whichever event occurs first.
Notwithstanding the foregoing, this Subsection 3.3.2(a) shall not apply to a Deemed Liquidation Event that is a SPAC Transaction (as defined below).