Non-Redemption. The Holder hereby agrees to either not request redemption in connection with the Extension or to reverse any previously submitted redemption demand in connection with the Extension with respect to the aggregate number of shares of Class A Common Stock set forth on Exhibit A hereto (“Non-Redeemed Shares”) it holds; provided that in no event ▇▇▇▇ ▇▇▇▇▇▇ be required to hold a number of shares of Class A Common Stock representing in excess of 9.9% of the total number of shares of Class A Common Stock of the Company outstanding following the redemption of Class A Common Stock in connection with the Meeting. The Non-Redeemed Shares held by the Holder shall not be subject to any transfer restrictions other than with respect to this Section 1, and the Holder shall have no obligation to hold any shares of Class A Common Stock following the effectuation of the Extension. Nothing in this Agreement is intended to restrict or prohibit the Holder’s ability to redeem any shares of Class A Common Stock other than the Non-Redeemed Shares and, in the case of the Non-Redeemed Shares, the restrictions on the Holder’s ability to redeem shall only apply with respect to the Extension. The Company will file a Current Report on Form 8-K under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), reporting the number of shares of Class A Common Stock tendered for redemption prior to the redemption deadline, no later than 9:30 a.m. Eastern Time on the date following the redemption deadline.
Appears in 2 contracts
Sources: Stock Transfer Agreement (New Providence Acquisition Corp. II), Stock Transfer Agreement (New Providence Acquisition Corp. II)