Common use of Investment Management Trust Agreement Clause in Contracts

Investment Management Trust Agreement. The Company has entered into the Trust Agreement with respect to certain proceeds of the Offering substantially in the form annexed as Exhibit 10.4 to the Registration Statement. The Trust Agreement will provide that there may be released to the Company (i) up to $1,050,000 of interest earned on the funds held pursuant to the Trust Agreement to fund expenses related to investigating and selecting a target business and the Company’s other working capital requirements and (ii) any amounts the Company may need to pay its income or other tax obligations.

Investment Management Trust Agreement. The Company has entered into the Trust Agreement with respect to certain proceeds of the Offering substantially in the form annexed as Exhibit 10.4 10.9 to the Registration Statement. The Trust Agreement will provide that if the Company has not consummated a business combination by the first anniversary of the Effective Date, there may be released to the Company (i) up to $1,050,000 200,000 of interest earned on the funds held pursuant to the Trust Agreement to fund expenses related to investigating and selecting a target business business, income and other taxes and the Company’s other working capital requirements and (ii) any amounts the Company may need to pay its income or other tax obligationsrequirements.