Common use of Volume Threshold Clause in Contracts

Volume Threshold. In connection with an Advance, if the total number of Ordinary Shares traded on the Principal Market during the applicable Pricing Period is less than the Volume Threshold, then the number of Advance Shares issued and sold pursuant to such Advance Notice shall be reduced to the greater of (a) 30% of the trading volume of the Ordinary Shares on the Principal Market during such Pricing Period as reported by Bloomberg L.P., or (b) the number of Ordinary Shares sold by the Investor during such Pricing Period (such reduced number of Advance Shares, the “Reduced Advance”), but in each case not to exceed the amount requested in the Advance Notice.

Appears in 2 contracts

Sources: Standby Equity Purchase Agreement (Vertical Aerospace Ltd.), Standby Equity Purchase Agreement (Webull Corp)

Volume Threshold. In connection with an AdvanceAdvance Notice, if the total number of Ordinary Shares traded on the Principal Market during the applicable Pricing Period is less than the Volume Threshold, then the number of Advance Shares issued and sold pursuant to such Advance Notice shall be reduced to the greater of (a) 3020% of the trading volume of the Company’s Ordinary Shares on the Principal Market during such the Pricing Period as reported by Bloomberg L.P., or (b) the number of Ordinary Shares sold by the Investor during such Pricing Period (such reduced number of Advance Shares, the “Reduced Advance”)Period, but in each case not to exceed the amount requested in the Advance Notice.

Appears in 2 contracts

Sources: Standby Equity Purchase Agreement (Energem Corp), Standby Equity Purchase Agreement (Energem Corp)