Common use of Conversion of Warrants Clause in Contracts

Conversion of Warrants. Pursuant to Section 3.6(c) of the Business Combination Agreement, each Warrant that is outstanding immediately prior to the Second Merger Effective Time (as defined in the Business Combination Agreement) shall cease to represent a right to acquire the number of SPAC Class A Shares set forth in such Warrant and shall be converted at the Second Merger Effective Time into a right to acquire that number of Pubco Ordinary Shares equal to (i) the number of SPAC Class A Shares set forth in such Warrant multiplied by (ii) the Exchange Ratio (as defined in the Business Combination Agreement) on substantially the same terms as were in effect immediately prior to the Second Merger Effective Time under the terms of the Existing Warrant Agreement.