Common use of Conversion Prices Clause in Contracts

Conversion Prices. (a) The Initial Notes shall be convertible by the Purchaser in accordance with their terms into Common Stock at a conversion price of $14.00 per share (the "Initial Note Conversion Price"). (b) The License Notes shall be convertible by the Purchaser in accordance with their terms into Common Stock at a per share conversion price equal to the sum of (i) [ * * * ] to the Initial Closing Date [ * * * ] plus (ii) the [ * * * ] (the "License Note Conversion Price"); provided that in no event shall the License Note Conversion Price be less than $14.00 per share or greater than $20.00 per share. (c) Any Additional Note shall be convertible by the Purchaser in accordance with its terms into Common Stock at a per share conversion price equal to the sum of (i) [ * * * ] plus (ii) [ * * * ] (the "Additional Note Conversion Price"); provided that in no event shall the Additional Note Conversion Price be less than $14.00 per share (the "Minimum Conversion Price") or greater than $20.00 per share (the "Maximum Conversion Price"). Each of the Minimum Conversion Price and the Maximum Conversion Price shall be subject to adjustment from time to time in accordance with paragraph 6(i)(i), (ii), (iii), (iv) or (v) of the promissory note attached hereto as Exhibit A. (d) For purposes of this Section 12, the "Closing Price" of the Common Stock on any trading day shall mean the last reported sales price of the Common Stock on such trading day, as reported by the Nasdaq National Market or, if the Common Stock is listed on a United States securities exchange, the closing per share sales price, regular way, on such trading day on the principal United States securities exchange on which the Common Stock is traded or, if no such sale takes place on such trading day, the average of the closing bid and asked prices on such day.

Conversion Prices. (a) The Initial Notes shall be convertible by the Purchaser in accordance with their terms into Common Stock at a conversion price of $14.00 per share (the "Initial Note Conversion Price"). (b) The License Notes shall be convertible by the Purchaser in accordance with their terms into Common Stock at a per share conversion price equal to the sum of (i) [ * * * ] the average of the Closing Prices of the Common Stock for the 20 consecutive trading days immediately prior to the Initial Closing Date [ * * * ] (the "License Note 20-Day Average") plus (ii) the [ * * * ] product of (x) the License Note 20-Day Average multiplied by (y) 0.025 (the "License Note Conversion Price"); provided that in no event shall the License Note Conversion Price be less than $14.00 per share or greater than $20.00 per share. (c) Any Additional Note shall be convertible by the Purchaser in accordance with its terms into Common Stock at a per share conversion price equal to the sum of (i) [ * * * ] the average of the Closing Prices of the Common Stock for the 20 consecu- tive trading days immediately prior to the Additional Closing Date applicable thereto (the "Additional Note 20-Day Average") plus (ii) [ * * * ] the product of (x) the Additional Note 20-Day Average multiplied by (y) 0.025 (the "Additional Note Conversion Price"); provided that in no event shall the Additional Note Conversion Price be less than $14.00 per share (the "Minimum Conversion Price") or greater than $20.00 per share (the "Maximum Conversion Price"). Each of the Minimum Conversion Price and the Maximum Conversion Price shall be subject to adjustment from time to time in accordance with paragraph 6(i)(i), (ii), (iii), (iv) or (v) of the promissory note attached hereto as Exhibit A. (d) For purposes of this Section 12, the "Closing Price" of the Common Stock on any trading day shall mean the last reported sales price of the Common Stock on such trading day, as reported by the Nasdaq National Market or, if the Common Stock is listed on a United States securities exchange, the closing per share sales price, regular way, on such trading day on the principal United States securities exchange on which the Common Stock is traded or, if no such sale takes place on such trading day, the average of the closing bid and asked prices on such day.