Common use of Minimum Acceptable Price Clause in Contracts

Minimum Acceptable Price. (i) With respect to each Advance Notice (other than in connection with an Investor Notice) selecting an Option 2 Pricing Period, 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 an Option 2 Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the 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 number of Advance Shares set forth in such Advance Notice by one-third (the resulting amount of each Advance being the “Adjusted Advance Amount”), and each Excluded Day shall be excluded from the Option 2 Pricing Period for purposes of determining the Market Price.

Appears in 2 contracts

Samples: Equity Purchase Agreement (Lionheart III Corp), Equity Purchase Agreement (SMX (Security Matters) Public LTD Co)

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Minimum Acceptable Price. (i) With respect to each Advance Notice (other than in connection with an Investor Notice) selecting an Option 2 Pricing Period, the Company may notify the Investor of the MAP Minimum Acceptable Price with respect to such Advance by indicating a MAP Minimum Acceptable Price on such Advance Notice. If no MAP Minimum Acceptable Price is specified in an Advance Notice, then no MAP Minimum Acceptable Price shall be in effect in connection with such Advance. Each Trading Day during an Option 2 a Pricing Period for which (A) with respect to each Advance Notice with a MAPMinimum Acceptable Price, the VWAP of the Common Shares is below the MAP 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 number of Advance Shares set forth in such Advance Notice by one-third (the resulting amount of each Advance being the “Adjusted Advance Amount”), and each Excluded Day shall be excluded from the Option 2 Pricing Period for purposes of determining the Market Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (MSP Recovery, Inc.)

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Minimum Acceptable Price. (i) With respect to each Advance Notice (other than in connection with an Investor Notice) selecting an Option 2 Pricing Period, the Company may notify the Investor of the MAP MAP, with respect to such Advance 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 an Option 2 applicable Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Common Shares is below the 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 number amount of the Advance Shares set forth in such Advance Notice by one-third 33.3% in the event of an Option 1 Pricing Period or 100% in the event of an Option 2 Pricing Period (the resulting amount of each Advance being the “Adjusted Advance Amount”), and each Excluded Day shall be excluded from the Option 2 Pricing Period for purposes of determining the applicable Market Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (Xos, Inc.)

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