2.15. The term “Registration Statement” shall mean the Company’s initial registration statement, as amended, on Form F-1, No. 333-173575 for its initial public offering of securities.
2.16. The term “Subsidiary,” with respect to any Person, shall mean any corporation or other entity of which a majority of the voting power of the voting equity securities or equity interest is owned, directly or indirectly, by that Person.
2.17. The term “Trust Account” shall mean thegross proceeds of the initial public offering of securities pursuant to the Registration Statement and sale of warrants by the Company deposited into a trust account for the benefit of the Company and the holders of the Company’s ordinary shares, no par value.
16.6. Notwithstanding any provision in this Agreement, the Company shall become obligated to indemnify, hold harmless and exonerate Indemnitee in accordance with the terms of this Agreement only to the extent there are funds available outside the Trust Account to the Company for such purposes as described in the Registration Statement. If no funds are available outside the Trust Account for such purposes, then the Company shall not be obligated to indemnify, hold harmless and exonerate Indemnitee unless and until a Business Combination is consummated. Indemnitee agrees that he has no right of set-off or any other right, title, interest or claim of any kind in, or to any distribution of, the Trust Account and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Losses against the Trust Account for any reason whatsoever and hereby waives any and all rights to seek access to the Trust Account.
INFINITY CROSS BORDER ACQUISITION CORPORATION | |
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INDEMNITEE | |
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