Sponsor definition
Examples of Sponsor in a sentence
In no event will payment by any other Person with whom or which Indemnitee may be associated (including, without limitation, the Sponsor Entity) or their insurers affect the obligations of the Company hereunder or shift primary liability for the Company’s obligation to indemnify or advance Expenses to any other Person with whom or which Indemnitee may be associated (including, without limitation, the Sponsor Entity).
The private placements described in this Section 1.4.2 are referred to herein as the “Private Placements.” Except as described in the Registration Statement, none of the Private Placement Warrants (or Ordinary Shares underlying the Private Placement Warrants) may be sold, assigned or transferred by the Sponsor or its permitted transferees until thirty (30) days after consummation of a Business Combination.
In the event any other Person with whom or which Indemnitee may be associated (including, without limitation, the Sponsor Entity) or their insurers advances or extinguishes any liability or loss for Indemnitee, the payor has a right of subrogation against the Company or its insurers for all amounts so paid which would otherwise be payable by the Company or its insurers under this Agreement.
Sponsor has executed and delivered agreements, the forms of which are included as exhibits to the Registration Statement (the “Purchase Agreements”), pursuant to which the Sponsor will, among other things, on the Closing Date, consummate the purchase of and deliver the purchase price for the Private Placement Securities as provided for in such Purchase Agreements.
In the event that the Over-allotment Option is not exercised in full, the Sponsor has agreed to forfeit such number of Founder Shares (up to 750,000 Founder Shares) such that the Founder Shares then outstanding will comprise 20% of the issued and outstanding shares of the Company after giving effect to the Offering and exercise, if any, of the Over-allotment Option (excluding the shares of Ordinary Shares underlying the Underwriter Units) and the Private Placement Shares and the Private Placement Warrants.