which the shares or warrants were originally purchased; (f) in the event of the Companys liquidation prior to the completion of an initial Business Combination; or (g) by virtue of the laws of the State of Delaware or the Sponsors limited liability company agreement upon dissolution of the Sponsor or the organizational documents of the Representative upon dissolution of the Representative; provided, however, that in the case of clauses (a) through (f), and (h), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions herein.
8. Each of the Insiders and the Sponsor represents and warrants that it, he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insiders biographical information furnished to the Company (including any such information included in the Prospectus) is true and accurate in all respects and does not omit any material information with respect to the Insiders background. Each of the Sponsors and the Insiders questionnaire furnished to the Company is true and accurate in all respects. Each of the Insiders and the Sponsor represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or she is not currently a defendant in any such criminal proceeding.
9. Except as disclosed in the Prospectus, neither the Sponsor nor any officer, director, or any affiliate of the Sponsor, officer, or director of the Company, shall receive from the Company any finders fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate, the consummation of the Companys initial Business Combination (regardless of the type of transaction that it is).
10. Each of the Insiders and the Sponsor agrees that, until the consummation of the Business Combination and for one year thereafter, it, he or she will keep confidential all confidential, proprietary and non-public information of the Company (whether written, oral or electronic communications), including without limitation, the names of the targets identified by the Company for a potential Business Combination and any and all information provided by the Company to the Sponsor or the Insider regarding such targets.
11. Each of the Insiders and the Sponsor has full right and power, without violating any agreement to which it is bound (including, without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as an officer and/or director on the board of directors of the Company and hereby consents to being named in the Prospectus as an officer and/or director of the Company.
12. As used herein, (i) Business Combination shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) Capital Stock shall mean, collectively, the Common Stock and the Founder Shares; (iii) Founder Shares shall mean (a) the 11,810,833 shares of the Companys Class B common stock, par value $0.0001 per share, initially issued to the Sponsor (up to 1,507,500 shares of which are subject to complete or partial forfeiture by the Sponsor if the over-allotment option is not exercised by the Underwriters) for an aggregate purchase price of $25,000, or $0.002 per share, prior to the consummation of the Public Offering; (iv) Initial Stockholders shall mean the Sponsor and any Insider that holds Founder Shares; (v) Private Placement Units shall mean the 610,000 units (or up to 632,500 units if the underwriters over-allotment option is exercised) of the Company, each unit comprised of one share of Common Stock and one-half of one Warrant, which the Sponsor has agreed to purchase for an aggregate purchase price of $6,100,000 (or up to $6,325,000 if the underwriters over-allotment option is exercised), or $10.00 per unit, in a private placement that shall occur simultaneously with the consummation of the Public Offering; (vi) Public Stockholders shall mean the holders of securities issued in the Public Offering; (vii) Trust Account shall mean the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited; and (viii) Transfer shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the