Common use of Determination Price Clause in Contracts

Determination Price. The Determination Price shall be equal to 93% of the lesser of (i) the arithmetic average of the closing bid prices of the Common Stock for the 10 consecutive trading days ending on and including the date hereof, and (ii) the closing bid price of the Common Stock on the date hereof. “Trading day” shall mean any day on which the Common Stock is traded for any period on the Nasdaq National Market.

Appears in 2 contracts

Samples: Letter Agreement (Vertex Pharmaceuticals Inc / Ma), Exchange Agreement (Vertex Pharmaceuticals Inc / Ma)

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Determination Price. The Determination Price shall be equal to 93% of the lesser of (i) the arithmetic average of the closing bid prices of the Common Stock on the Agreement Date and for the 10 9 consecutive trading days ending on and including immediately preceding the date hereofAgreement Date, and (ii) the closing bid price of the Common Stock on the date hereof. “Trading day” shall mean any day on which the Common Stock is traded for any period on the Nasdaq National MarketAgreement Date.

Appears in 1 contract

Samples: Exchange Agreement (Vertex Pharmaceuticals Inc / Ma)

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Determination Price. The Determination Price shall be equal to 93% of the lesser of (i) the arithmetic average of the closing bid prices of the Common Stock for the 10 consecutive trading days ending on and including the date hereofAgreement Date, and (ii) the closing bid price of the Common Stock on the date hereof. “Trading day” shall mean any day on which the Common Stock is traded for any period on the Nasdaq National MarketAgreement Date.

Appears in 1 contract

Samples: Exchange Agreement (Vertex Pharmaceuticals Inc / Ma)

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