Common use of Minimum Acceptable Price Clause in Contracts

Minimum Acceptable Price. (i) With respect to each Advance Notice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the Minimum Acceptable Price in effect with respect to such Advance Notice, or (B) there is no VWAP (each such day, an “Excluded Day”), shall result in an automatic reduction to the amount of the Advance Shares set forth in such Advance Notice by 20% (the resulting amount of each Advance being the “Adjusted Advance Shares”), and each Excluded Day shall be excluded from the Pricing Period for purposes of determining the Market. (ii) The total Shares in respect of each Advance (after reductions have been made to arrive at the Adjusted Advance Shares) shall be automatically increased by such number of Common Shares (the “Additional Shares”) equal to the number of Common Shares sold by the Investor on such Excluded Day, if any, and the price paid per share for each Additional Share shall be equal to the MAP in effect with respect to such Advance Notice (without any further discount), provided that this increase shall not cause the total Advance Shares to exceed the amount set forth in the original Advance Notice or any limitations set forth in Section 2.01(c).

Appears in 1 contract

Sources: Standby Equity Distribution Agreement (Ashford Hospitality Trust Inc)

Minimum Acceptable Price. (i) With respect to each Advance Notice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares Stock is below the Minimum Acceptable Price in effect with respect to such Advance Notice, or (B) there is no VWAP (each such day, an “Excluded Day”), shall result in an automatic reduction to the amount number of the Advance Shares set forth in such Advance Notice by 20% one-third (the resulting amount of each Advance being the “Adjusted Advance SharesAmount”), and each Excluded Day shall be excluded from the Pricing Period for purposes of determining the MarketMarket Price. (ii) The total Advance Shares in respect of each Advance (after reductions have been made to arrive at the Adjusted Advance SharesAmount) shall be automatically increased by such number of Common Shares (the “Additional Shares”) equal to the number of Common Shares sold by the Investor on such Excluded Day, if any, and the price paid per share for each Additional Share shall be equal to the MAP in effect with respect to such Advance Notice (without any further discount), provided that this increase shall not cause the total Advance Shares to exceed the amount set forth in the original Advance Notice or any limitations set forth in Section 2.01(c).

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Biote Corp.)

Minimum Acceptable Price. (i) With respect to each Advance Notice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the Minimum Acceptable Price MAP in effect with respect to such Advance Notice, or (B) there is no VWAP (each such day, an “Excluded Day”), shall result in an automatic reduction to the amount of the Advance Shares set forth in such Advance Notice by 20% one-third (the resulting amount of each Advance being the “Adjusted Advance SharesAmount”), and each Excluded Day shall be excluded from the Pricing Period for purposes of determining the MarketMarket Price. (ii) The total Shares in respect of each Advance (after reductions have been made to arrive at the Adjusted Advance SharesAmount, if any) shall be automatically increased by such number of Common Shares (the “Additional Shares”) equal to the number of Common Shares sold by the Investor on such Excluded Day, if any, and the price paid per share for each Additional Share shall be equal to the MAP in effect with respect to such Advance Notice (without any further discount), provided that this increase shall not cause the total Advance Shares to exceed the amount set forth in the original Advance Notice or any limitations set forth in Section 2.01(c)2.01.

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Virgin Orbit Holdings, Inc.)

Minimum Acceptable Price. (i) With respect to each Advance Notice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the Minimum Acceptable Price in effect with respect to such Advance Notice, or (B) there is no VWAP (each such day, an “Excluded Day”), shall result in an automatic reduction to the amount of the Advance Shares set forth in such Advance Notice by 20% (the resulting amount of each Advance being the “Adjusted Advance SharesAmount”), and each Excluded Day shall be excluded from the Pricing Period for purposes of determining the Market. (ii) The total Shares in respect of each Advance (after reductions have been made to arrive at the Adjusted Advance SharesAmount) shall be automatically increased by such number of Common Shares (the “Additional Shares”) equal to the number of Common Shares sold by the Investor on such Excluded Day, if any, and the price paid per share for each Additional Share shall be equal to the MAP in effect with respect to such Advance Notice (without any further discount), provided that this increase shall not cause the total Advance Shares to exceed the amount set forth in the original Advance Notice or any limitations set forth in Section 2.01(c).

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (KULR Technology Group, Inc.)

Minimum Acceptable Price. (i) With respect to each Advance Notice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the Minimum Acceptable Price in effect with respect to such Advance Notice, or (B) there is no VWAP (each such day, an “Excluded Day”), shall result in an automatic reduction to the amount of the Advance Shares set forth in such Advance Notice by 20% one third (the resulting amount of each Advance being the “Adjusted Advance SharesAmount”), and each Excluded Day shall be excluded from the Pricing Period for purposes of determining the MarketMarket Price. (ii) The total Shares in respect of each Advance (after reductions have been made to arrive at the Adjusted Advance SharesAmount) shall be automatically increased by such number of Common Shares (the “Additional Shares”) equal to the number of Common Shares sold by the Investor on such Excluded Day, if any, and the price paid per share for each Additional Share shall be equal to the MAP in effect with respect to such Advance Notice (without any further discount), provided that this increase shall not cause the total Advance Shares to exceed the amount set forth in the original Advance Notice or any limitations set forth in Section 2.01(c).

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Medalist Diversified REIT, Inc.)

Minimum Acceptable Price. (i) With respect to each Advance Notice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the Minimum Acceptable Price MAP in effect with respect to such Advance Notice, or (B) there is no VWAP (each such day, an “Excluded Day”), shall result in an automatic reduction to the amount of the Advance Shares set forth in such Advance Notice by 20% one third (the resulting amount of each Advance being the “Adjusted Advance SharesAmount”), and each Excluded Day shall be excluded from the Pricing Period for purposes of determining the MarketMarket Price. (ii) The total Advance Shares in respect of each Advance (after reductions have been made to arrive at the Adjusted Advance SharesAmount, if any) shall be automatically increased by such number of Common Shares (the “Additional Shares”) equal to the number of Common Shares sold by the Investor on such Excluded Day, if any, and the price paid per share for each Additional Share shall be equal to the MAP in effect with respect to such Advance Notice (without any further discount), provided that this increase shall not cause the total Advance Shares to exceed the amount set forth in the original Advance Notice or any limitations set forth in Section 2.01(c).

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Rubicon Technologies, Inc.)

Minimum Acceptable Price. (i) With respect to each Advance Notice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the Minimum Acceptable Price MAP in effect with respect to such Advance Notice, or (B) there is no VWAP (each such day, an “Excluded Day”), shall result in an automatic reduction to the amount number of the Advance Shares set forth in such Advance Notice by 20% one third (the resulting amount of each Advance being the “Adjusted Advance SharesAmount”), and each Excluded Day shall be excluded from the Pricing Period for purposes of determining the MarketMarket Price. (ii) The total Advance Shares in respect of each Advance with any Excluded Day(s) (after reductions have been made to arrive at the Adjusted Advance SharesAmount) shall be automatically increased by such number of Common Shares (the “Additional Shares”) equal to the greater of (a) the number of Common Shares sold by the Investor on such Excluded DayDay(s), if any, or (b) such number of Common Shares elected to be subscribed for by the Investor, and the subscription price paid per share for each Additional Share shall be equal to the MAP in effect with respect to such Advance Notice (without any further discount)multiplied by 97%, provided that this increase shall not cause the total Advance Shares [Shares] to exceed the amount set forth in the original applicable Advance Notice or any limitations set forth in Section 2.01(c).

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (InMed Pharmaceuticals Inc.)

Minimum Acceptable Price. (i) With respect to each Advance Notice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the Minimum Acceptable Price MAP in effect with respect to such Advance Notice, or (B) there is no VWAP (each such day, an “Excluded Day”), shall result in an automatic reduction to the amount of the Advance Shares set forth in such Advance Notice by 20% one-third (the resulting amount of each Advance being the “Adjusted Advance SharesAmount”), and each Excluded Day shall be excluded from the Pricing Period for purposes of determining the MarketMarket Price. (ii) The total Advance Shares in respect of each Advance (after reductions have been made to arrive at the Adjusted Advance SharesAmount, if any) shall be automatically increased by such number of Common Shares (the “Additional Shares”) equal to the number of Common Shares sold by the Investor on such Excluded Day, if any, and the price paid per share for each Additional Share shall be equal to the MAP in effect with respect to such Advance Notice (without any further discount), provided that this increase shall not cause the total Advance Shares to exceed the amount set forth in the original Advance Notice or any limitations set forth in Section 2.01(c).

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Kiromic Biopharma, Inc.)

Minimum Acceptable Price. (i) With respect to each Advance Notice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the Minimum Acceptable Price MAP in effect with respect to such Advance Notice, or (B) there is no VWAP (each such day, an “Excluded Day”), shall result in an automatic reduction to the amount of the Advance Shares set forth in such Advance Notice by 20% one-third (the resulting amount of each Advance being the “Adjusted Advance SharesAmount”), and each Excluded Day shall be excluded from the Pricing Period for purposes of determining the MarketMarket Price. (ii) The total Shares in respect of each Advance (after reductions have been made to arrive at the Adjusted Advance SharesAmount) shall be automatically increased by such number of Common Shares (the “Additional Shares”) equal to the number of Common Shares sold by the Investor on such Excluded Day, if any, and the price paid per share for each Additional Share shall be equal to the MAP in effect with respect to such Advance Notice (without any further discount), provided that this increase shall not cause the total Advance Shares to exceed the amount set forth in the original Advance Notice or any limitations set forth in Section 2.01(c).

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Eos Energy Enterprises, Inc.)

Minimum Acceptable Price. (i) With respect to each Advance Notice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the Minimum Acceptable Price MAP in effect with respect to such Advance Notice, or (B) there is no VWAP (each such day, an “Excluded Day”), shall result in an automatic reduction to the amount number of the Advance Shares set forth in such Advance Notice by 2030% (the resulting amount of each Advance being the “Adjusted Advance SharesAmount”), and each Excluded Day shall be excluded from the Pricing Period for purposes of determining the MarketMarket Price. (ii) The total Shares in respect of each Advance (after reductions have been made to arrive at the Adjusted Advance SharesAmount) shall be automatically increased by such number of Common Shares (the “Additional Shares”) equal to the number of Common Shares sold by the Investor on such Excluded Day, if any, and the price paid per share for each Additional Share shall be equal to the MAP in effect with respect to such Advance Notice (without any further discount), provided that this increase shall not cause the total Advance Shares to exceed the amount set forth in the original Advance Notice or any limitations set forth in Section 2.01(c).

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Phoenix Motor Inc.)

Minimum Acceptable Price. (i) With respect to each Advance Notice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the Minimum Acceptable Price MAP in effect with respect to such Advance Notice, or (B) there is no VWAP (each such day, an “Excluded Day”), shall result in an automatic reduction to the amount number of the Advance Shares set forth in such Advance Notice by 20% one third (the resulting amount of each Advance being the “Adjusted Advance SharesAmount”), and each Excluded Day shall be excluded from the Pricing Period for purposes of determining the MarketMarket Price. (ii) The total Advance Shares in respect of each Advance (after reductions have been made to arrive at the Adjusted Advance SharesAmount, if any) shall be automatically increased by such number of Common Shares (the “Additional Shares”) equal to the number of Common Shares sold by the Investor on such Excluded Day, if any, and the price paid per share for each Additional Share shall be equal to the MAP in effect with respect to such Advance Notice (without any further discount), provided that this increase shall not cause the total Advance Shares to exceed the amount set forth in the original Advance Notice or any limitations set forth in Section 2.01(c).

Appears in 1 contract

Sources: Standby Equity Purchase Agreement (Grove Collaborative Holdings, Inc.)