Leakage. The Company covenants and agrees that (a) there shall be no Leakage prior to the Closing and (b) no arrangements or agreements shall be made that would reasonably be expected to result in any Leakage prior to the Closing. The Company shall notify SPAC in writing promptly after becoming aware of anything which would constitute a breach of this Section 8.16 (including the specific amount of any Leakage, if known, or a reasonable estimate thereof).
Appears in 2 contracts
Sources: Business Combination Agreement (OTR Acquisition Corp.), Business Combination Agreement (OTR Acquisition Corp.)
Leakage. The Company covenants and agrees that (a) there shall be no Leakage prior to the Closing and (b) no arrangements or agreements shall be made that would reasonably be expected to result in any Leakage prior to the Closing, in each case other than Permitted Leakage. The Company shall notify SPAC Parent in writing promptly after becoming aware of anything which would constitute a breach of this Section 8.16 7.20 (including the specific amount of any Leakage, if known, or a reasonable estimate thereof).
Appears in 1 contract
Sources: Business Combination Agreement (New Beginnings Acquisition Corp.)