Common use of Purchase Price Per Share Clause in Contracts

Purchase Price Per Share. (i) The purchase price per share of the Company's Common Stock (the "Purchase Price") shall be the average of the two (2) lowest Stock Prices during the six (6) Trading Days prior to but excluding a Mandatory Purchase Date, an Additional Purchase Date or a Call Purchase Date, as the case may be (the "Purchase Price Period"); PROVIDED, HOWEVER, that any trading price below the Floor Price during such six (6) Trading Days shall be deemed to be equal to the Floor Price for purposes of determining the Purchase Price. If the Company, at any time during a Purchase Price Period, subdivides (by any stock split, stock dividend, recapitalization, reorganization, reclassification or otherwise) its shares of Common Stock into a greater number of shares, then, as of the beginning of the Purchase Price Period, the Stock Price in effect prior to such subdivision shall be proportionately reduced. If the Company, at any time during a Purchase Price Period, combines (by reverse stock split, recapitalization, reorganization, reclassification or otherwise) its shares of Common Stock into a smaller number of shares, then as of the beginning of the Purchase Price Period, the Stock Price in effect prior to such combination shall be proportionately increased.

Appears in 1 contract

Samples: Financing Agreement (Cygnus Inc /De/)

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Purchase Price Per Share. (i) The purchase price per share of the Company's Common Stock (the "Purchase Price") shall be the average of the two (2) lowest Stock Prices during the six (6) Trading Days prior to but excluding a Mandatory Purchase Date, an Additional Purchase Date or a Call Purchase Date, as the case may be (the "Purchase Price Period"); PROVIDEDprovided, HOWEVERhowever, that any trading price below the Floor Price during such six (6) Trading Days shall be deemed to be equal to the Floor Price for purposes of determining the Purchase Price. If the Company, at any time during a Purchase Price Period, subdivides (by any stock split, stock dividend, recapitalization, reorganization, reclassification or otherwise) its shares of Common Stock into a greater number of shares, then, as of the beginning of the Purchase Price Period, the Stock Price in effect prior to such subdivision shall be proportionately reduced. If the Company, at any time during a Purchase Price Period, combines (by reverse stock split, recapitalizationrecapitaliztion, reorganizationreorganziation, reclassification or otherwise) its shares of Common Stock into a smaller number of shares, then as of the beginning of the Purchase Price Period, the Stock Price in effect prior to such combination shall be proportionately increased."

Appears in 1 contract

Samples: Cygnus Inc /De/

Purchase Price Per Share. (i) The purchase price per share of the Company's Common Stock (the "Purchase Price") shall be the average of the two (2) lowest Stock Prices during the six (6) Trading Days prior to but excluding a Mandatory Purchase Date, an Additional Purchase Date or a Call Purchase Date, as the case may be (the "Purchase Price Period"); PROVIDEDprovided, HOWEVERhowever, that any trading price below the Floor Price during such six (6) Trading Days shall be deemed to be equal to the Floor Price for purposes of determining the Purchase Price. If the Company, at any time during a Purchase Price Period, subdivides (by any stock split, stock dividend, recapitalization, reorganization, reclassification or otherwise) its shares of Common Stock into a greater number of shares, then, as of the beginning of the Purchase Price Period, the Stock Price in effect prior to such subdivision shall be proportionately reduced. If the Company, at any time during a Purchase Price Period, combines (by reverse stock split, recapitalization, reorganization, reclassification or otherwise) its shares of Common Stock into a smaller number of shares, then as of the beginning of the Purchase Price Period, the Stock Price in effect prior to such combination shall be proportionately increased.

Appears in 1 contract

Samples: Flexible Financing Agreement (Cygnus Inc /De/)

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Purchase Price Per Share. (i) The purchase price per share of the Company's Common Stock (the "Purchase Price") shall be 98% of the average of the two (2) lowest Stock Prices during the six (6) Trading Days prior to but excluding a Mandatory Purchase Date, an Additional Purchase Date or a Call Purchase Date, as the case may be (the "Purchase Price Period"); PROVIDEDprovided, HOWEVERhowever, that any trading price below the Floor Price during such six (6) Trading Days shall be deemed to be equal to the Floor Price for purposes of determining the Purchase Price; and PROVIDED FURTHER, however, that in no event shall any transaction in the Common Stock effected directly or indirectly by the Investor or any Affiliate of the Investor be one of such two (2) lowest Stock Prices. In order to give effect to the second proviso in the preceding sentence, the Investor shall immediately advise the Company of any transactions which should be excluded from the determination of the Purchase Price as a result of such proviso, in which case, the next lowest Stock Price shall be deemed to be the lowest Stock Price for the purposes of this paragraph. If the Company, at any time during a Purchase Price Period, subdivides (by any stock split, stock dividend, recapitalization, reorganization, reclassification or otherwise) its shares of Common Stock into a greater number of shares, then, as of the beginning of the Purchase Price Period, the Stock Price in effect prior to such subdivision shall be proportionately reduced. If the Company, at any time during a Purchase Price Period, combines (by reverse stock split, recapitalizationrecapitaliztion, reorganizationreorganziation, reclassification or otherwise) its shares of Common Stock into a smaller number of shares, then as of the beginning of the Purchase Price Period, the Stock Price in effect prior to such combination shall be proportionately increased.

Appears in 1 contract

Samples: Structured Equity Line Flexible Financing Agreement (Cygnus Inc /De/)

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