Common use of Black Scholes Value Clause in Contracts

Black Scholes Value. Remaining Term Number of calendar days from date of public announcement of the Successor Major Transaction until the last date on which this Warrant may be exercised. Interest Rate A risk-free interest rate corresponding to the US$ LIBOR/Swap rate for a period equal to the Remaining Term.* Cost to Borrow Zero Volatility If the first public announcement of the Successor Major Transaction is made at or prior to 4:00 p.m., New York City time, the arithmetic mean of the historical volatility for the 10, 30 and 50 trading day periods ending on the date of such first public announcement, obtained from the HVT or similar function on Bloomberg. If the first public announcement of the Successor Major Transaction is made after 4:00 p.m., New York City time, the arithmetic mean of the historical volatility for the 10, 30 and 50 trading day periods ending on the next succeeding trading day following the date of such first public announcement, obtained from the HVT or similar function on Bloomberg. Stock Price The greater of (1) the closing price of the Common Stock on the Principal Market (the “Closing Market Price”) on the trading day immediately preceding the date on which a Successor Major Transaction is consummated, (2) the first Closing Market Price following the first public announcement of a Successor Major Transaction, or (3) the Closing Market Price as of the date immediately preceding the first public announcement of the Successor Major Transaction. Dividends Zero. Strike Price Exercise Price as defined in Section 1(b).

Black Scholes Value. Remaining Term Number of calendar days from date of public announcement of the Successor Major Transaction until the last date on which this Warrant may be exercised. Interest Rate A risk-free interest rate corresponding to the US$ LIBOR/Swap rate for a period equal to the Remaining Term.* Cost to Borrow Zero Volatility If the first public announcement of the Successor Major Transaction is made at or prior to 4:00 p.m., New York City time, the arithmetic mean of the historical volatility for the 10, 30 and 50 trading day Trading Day periods ending on the date of such first public announcement, obtained from the HVT or similar function on Bloomberg. If the first public announcement of the Successor Major Transaction is made after 4:00 p.m., New York City time, the arithmetic mean of the historical volatility for the 10, 30 and 50 trading day Trading Day periods ending on the next succeeding trading day following the date of such first public announcement, obtained from the HVT or similar function on Bloomberg. Stock Price The greater of (1) the closing price of the Common Stock on the Principal Market (the “Closing Market Price”) on the trading day Trading Day immediately preceding the date on which a Successor Major Transaction is consummated, (2) the first Closing Market Price following the first public announcement of a Successor Major Transaction, or (3) the Closing Market Price as of the date immediately preceding the first public announcement of the Successor Major Transaction; provided, however, in the event the Common Stock is not then quoted on the Principal Market or reported on any other national securities exchange or inter-dealer quotation system, the stock price shall be the fair market value of the Common Stock calculated in accordance with Section 1.1(d), with the date of determination being the Trading Day immediately preceding the date on which a Successor Major Transaction is consummated. Dividends Zero. Strike Price Exercise Price as defined in Section 1(b).