Covenants of Spac Clause Samples
The "Covenants of SPAC" clause sets out the specific promises and obligations that the Special Purpose Acquisition Company (SPAC) must uphold throughout the transaction process. These covenants typically include requirements for the SPAC to operate its business in the ordinary course, refrain from certain actions without consent (such as incurring new debt or issuing shares), and to provide necessary information or access to the target company. By clearly outlining these commitments, the clause ensures that the SPAC maintains its value and operations as expected, thereby protecting the interests of the target company and facilitating a smooth transaction.
Covenants of Spac. Section 6.1. Conduct of Business 68 Section 6.2. Access to Information 70 Section 6.3. Acquisition Proposals and Alternative Transactions 71 Section 6.4. Nasdaq Listing 71 Section 6.5. SPAC Public Filings 71 Section 6.6. Section 16 Matters 71 Section 6.7. SPAC Extension 71
Covenants of Spac. 46
Section 8.01 Indemnification and Directors’ and Officers’ Insurance 46 Section 8.02 Conduct of SPAC During the Interim Period 47 Section 8.03 Inspection 49 Section 8.04 Section 16 Matters 50 Section 8.05 Post-Closing Directors and Officers 50 Section 8.06 Incentive Equity Plan 50 Section 8.07 SPAC Amended Bylaws and Amended Charter 51 Section 8.08 Pre-Approved Arrangements 51 Section 8.09 SPAC Public Filings 51 Section 8.10 Listing 51 Section 8.11 Non-Transfer of Certain SPAC Intellectual Property 51 Section 8.12 Trust Account 52 Section 8.13 Takeover Laws 52
Covenants of Spac