Initial Public Offering Letter of Intent
Category: 270 Legal Recent Posts, Initial Public Offering, Letter of Intent
Re: Initial Public Offering
Gentlemen:
The undersigned, an officer, director or shareholder of Asia Special Situation Acquisition Corp. (the “Company”), in consideration of Maxim Group LLC (“Maxim”) entering into a letter of intent (“Letter of Intent”) to underwrite an initial public offering of the securities of the Company (“IPO”) and embarking on the IPO process, hereby agrees that, subject only to consummation of the IPO, the undersigned shall comply with each of the following covenants and agreements. As used herein, certain capitalized terms not otherwise defined herein or in the Registration Statement, shall have the meanings that are defined in Section 14 hereof):
1. If the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all Insider Shares owned by the undersigned in accordance with the majority of the votes cast by the holders of the IPO Shares. In the event that the undersigned acquires ordinary shares in connection with the IPO or in the secondary trading market after the IPO, the undersigned will vote all such shares “FOR” the approval of a Business Combination.
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