Daily Allocation definition
Daily Allocation shall have the meaning specified in Section 4.01(a)(i).
Daily Allocation means, for each Participating Holder on any Trading Day, such Holder’s pro rata share of the Leak-Out Cap for such Trading Day, calculated based on such Holder’s Assigned Value (as determined on the applicable Exchange Date(s)) relative to the aggregate Assigned Value of all Participating Holders on such Trading Day.
Examples of Daily Allocation in a sentence
Each Holder shall be responsible for compliance with its own Daily Allocation.
If any Holder is not a Participating Holder for a particular Trading Day (because such Holder holds no outstanding Series C, no outstanding Note, and no shares of Common Stock issued pursuant to this Agreement or upon conversion, amortization, or payment under the Series C or the Note), then such Holder’s would-be Daily Allocation for such Trading Day shall be reallocated to the remaining Participating Holders for such Trading Day on a pro rata basis using the methodology described in Section 4.10.2.