Examples of Warrant Surrender Agreement in a sentence
Between the Effective Date and the Closing Date, the Parties shall reasonably cooperate and negotiate in order to come to agreement on the form, terms and conditions of each of (i) the Statement of Merger, (ii) the Surviving Articles, (iii) the Surviving Bylaws, (iv) the Option Surrender Agreement, (v) the Warrant Surrender Agreement and (vi) the Escrow Agreement (collectively, the “Ancillary Documents”).
The Company shall, prior to the Closing and subject to Applicable Laws, (x) obtain from each Warrantholder an executed Warrant Surrender Agreement substantially in the form attached as Exhibit F (a “Warrant Surrender Agreement”) and (y) take or cause to be taken all actions, and shall obtain all consents, as may be required to effect the treatment of Warrants pursuant to this Section 1.6(a)(iii).
Each Company Warrant will have been exercised by the holder thereof prior to the Effective Time or else the holder of such Company Warrant shall have agreed that such Company Warrant shall be terminated at the time of the Closing in exchange for the cash payment contemplated by Section 1.6(a) in accordance with the applicable Warrant Surrender Agreement.
For purposes of Section 1.6(a), any amounts deposited by Parent into the Accelerable Escrow shall be deemed to be received by each Effective Time Holder that has not yet executed and delivered to Parent a Warrant Surrender Agreement.
Warrant Surrender Agreement On January 31, 2021, in connection with entering into the Merger Agreement, the Company entered into a Warrant Surrender Agreement, by and among Company and the Sponsors, pursuant to which each of the Sponsors agreed to irrevocably forfeit and surrender 250,000 Private Placement Warrants immediately prior to, and contingent upon, the Closing of the Transaction.