Forfeiture Clause Example with 5 Variations from Business Contracts

This page contains Forfeiture clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Forfeiture. To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 3,150,000 Units within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to 787,500 multiplied by a fraction, (a) the numerator of which is 3,150,000 minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and... (b) the denominator of which is 3,150,000. The Sponsor will be required to forfeit only that number of Founder Shares as is necessary so that the Sponsor and Insiders will own an aggregate of 20.0% of the Company's issued and outstanding equity shares after the Public Offering (excluding the Ordinary Shares underlying the Private Placement Units). View More
Found in ITHAX Acquisition Corp. contract

Variations of a "Forfeiture" Clause from Business Contracts

Forfeiture. To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 3,150,000 2,625,000 Units within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to 787,500 656,250 multiplied by a fraction, (a) the numerator of which is 3,150,000 2,625,000 minus the number of Units purchased by the Underwriters upon the exercise of thei...r over-allotment option, and (b) the denominator of which is 3,150,000. 2,625,000. The Sponsor will be required to forfeit only that number of Founder Shares as is necessary so that the Sponsor and Insiders will own an aggregate of 20.0% of the Company's issued and outstanding equity shares after the Public Offering (excluding the Ordinary Shares underlying the Private Placement Units). View More
Found in ITHAX Acquisition Corp. contract
Forfeiture. To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 3,150,000 1,650,000 Units within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to 787,500 412,500 multiplied by a fraction, (a) the numerator of which is 3,150,000 1,650,000 minus the number of Units purchased by the Underwriters upon the exercise of thei...r over-allotment option, and (b) the denominator of which is 3,150,000. 1,650,000. The Sponsor will be required to forfeit only that number of Founder Shares as is necessary so that the Sponsor and Insiders will own an aggregate of 20.0% of the Company's issued and outstanding equity shares after the Public Offering (excluding the Ordinary Shares underlying the Private Placement Units). Offering. View More
Found in CHW Acquisition Corp contract
Forfeiture. To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 3,150,000 3,000,000 Units within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to 787,500 750,000 multiplied by a fraction, (a) the numerator of which is 3,150,000 3,000,000 minus the number of Units purchased by the Underwriters upon the exercise of thei...r over-allotment option, and (b) the denominator of which is 3,150,000. 3,000,000. The Sponsor will be required to forfeit only that number of Founder Shares as is necessary so that the Sponsor and Insiders will own an aggregate of 20.0% of the Company's issued and outstanding equity shares after the Public Offering (excluding the Ordinary Shares underlying the Private Placement Units). Offering. View More
Found in 2 Contracts from 2 Companies
Forfeiture. To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 3,150,000 3,750,000 Units within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to 787,500 937,500 multiplied by a fraction, (a) the numerator of which is 3,150,000 3,750,000 minus the number of Units purchased by the Underwriters upon the exercise of thei...r over-allotment option, and (b) the denominator of which is 3,150,000. 3,750,000. The Sponsor will be required to forfeit only that number of Founder Shares as is necessary so that the Sponsor and Insiders will own an aggregate of 20.0% of the Company's issued and outstanding equity shares after the Public Offering (excluding the Ordinary Shares underlying the Private Placement Units). Offering. View More
Found in 2 Contracts from PowerUp Acquisition Corp.
Forfeiture. To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 3,150,000 1,500,000 Units within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to 787,500 375,000 multiplied by a fraction, (a) the numerator of which is 3,150,000 1,500,000 minus the number of Units purchased by the Underwriters upon the exercise of thei...r over-allotment option, and (b) the denominator of which is 3,150,000. 1,500,000. The Sponsor will be required to forfeit only that number of Founder Shares as is necessary so that the Sponsor and Insiders will own an aggregate of 20.0% of the Company's issued and outstanding equity shares after the Public Offering (excluding the Ordinary Shares underlying the Private Placement Units). Offering. View More
Found in 3 Contracts from CHW Acquisition Corp