Transaction Failure definition

Transaction Failure means the failure to consummate a Business Combination within 18 months of the Effective Date (or 24 months after the Effective Date, if a letter of intent, agreement in principle or definitive agreement has been executed within 18 months after the Effective Date and the Business Combination relating thereto has not yet been consummated within such 18-month period).

Transaction Failure means the failure to consummate a Business Combination within 24 months of the date of the Prospectus filed in connection with the Company’s IPO.

Transaction Failure means the earlier of (i) the failure to enter into a letter of intent, definitive agreement or agreement in principle with respect to a Business Combination on any day during the twelve-month period immediately following the Effective Date, and (ii) the failure to consummate a Business Combination on any day during the eighteen-month period immediately following the Effective Date.

Examples of Transaction Failure in a sentence

• If a Transaction Failure occurs, the undersigned shall take all reasonable actions within such person’s power to cause (i) the Trust Account to be liquidated and distributed to the holders of the IPO Shares as soon as reasonably practicable, and (ii) the Company to liquidate as soon as practicable after the Termination Date (the earliest date on which the conditions in clauses (i) and (ii) are both satisfied being the “ Liquidation Date”).

• If a Transaction Failure occurs, the undersigned shall take all reasonable actions within such person’s power to cause (i) the Trust Fund to be liquidated and distributed to the holders of the IPO shares as soon as reasonably practicable and in any event no later than the Termination Date, and (ii) the Company to dissolve and liquidate as soon as practicable (the earliest date on which the conditions in clauses (i) and (ii) are both satisfied being the “Liquidation Date”).

• If a Transaction Failure occurs, the undersigned shall take all reasonable actions within such person's power to cause (i) the Trust Account to be liquidated and distributed to the holders of the IPO shares as soon as reasonably practicable and, in any event, no later than the Termination Date, and (ii) the Company to dissolve and liquidate as soon as practicable (the earliest date on which the conditions in clauses (i) and (ii) are both satisfied being the "Liquidation Date").

• If a Transaction Failure occurs, the undersigned shall take all reasonable actions within such person’s power to cause (i) the Trust Account to be liquidated and distributed to the holders of the IPO Shares as soon as reasonably practicable and, in any event, no later than the Termination Date, and (ii) the Company to dissolve and liquidate as soon as practicable.

• No Takeout Transaction Failure has occurred with respect to the related Financing Fund.

More Definitions of Transaction Failure

Transaction Failure means the failure to consummate a Business Combination within 24 months of the date of the consummation of the IPO (or within 36 months if extended pursuant to a stockholder vote as described in the Registration Statement).

Transaction Failure means the earlier of (i) the failure to enter into a letter of intent, definitive agreement or agreement in principal with respect to a Business Combination on any day during the eighteen-month period immediately following the Effective Date, and (ii) the failure to consummate a Business Combination on any day during the twenty-four-month period immediately following the Effective Date.

Transaction Failure means the failure to enter into a letter of intent, definitive agreement or agreement in principal with respect to a Business Combination within 24 months of the closing of the IPO.

Transaction Failure means the failure to consummate a Business Combination (i) during the eighteen-month period immediately following the closing date of the IPO, or (ii) during the twenty-four-month period immediately following the closing date of the IPO if a letter of intent, agreement in principle or definitive agreement is executed within eighteen months following the closing date of the IPO.

Transaction Failure means the failure to consummate a Business Combination within 24 months of the Effective Date.

Transaction Failure means the failure to enter into a letter of intent, definitive agreement or agreement in principal with respect to a Business Combination within 18 months of the closing of the IPO (or 24 months after the closing of the IPO, if a letter of intent, agreement in principle or definitive agreement has been executed within 18 months after the closing of the IPO and the Business Combination relating thereto has not yet been consummated within such 18-month period).

Transaction Failure means the earlier of (i) the failure to enter into a definitive agreement with respect to the Business Combination on any day during the eighteen (18) month period immediately following the Effective Date, and (ii) the failure to consummate the Business Combination on any day during the twenty four (24) month period immediately following the Effective Date.