Liquid Stock definition

Liquid Stock means capital stock which is registered under Section 12(b) or Section 12(g) of the Securities Exchange Act of 1934, as amended, the disposition of which would not be significantly restricted by low trading volume; provided, that capital stock which is either (i) listed for trading on the NASDAQ National Market System with average daily trading volume over the past six months of at least 75,000 shares, or (ii) listed for trading on the New York Stock Exchange, Inc. shall be deemed to be Liquid Stock.

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Liquid Stock means capital stock which is registered under Section 12(b) or Section 12(g) of the Securities Exchange Act of 1934, as amended, the disposition of which would not be significantly restricted by low trading volume or otherwise; provided, that capital stock which is either (i) listed for trading on the NASDAQ National Market System with average daily trading volume over the past six months of at least 100,000 shares, or (ii) listed for trading on the New York Stock Exchange, Inc. shall be deemed to be Liquid Stock. Upon such automatic conversion, any accrued and unpaid dividends shall be paid in accordance with the provisions of Section (a).

Liquid Stock means any block of Indemnity Shares that is freely tradable on the NSM and that is not Locked-up Stock.

Examples of Liquid Stock in a sentence

The term "Qualified Sale" shall mean an Acquisition or Asset Transfer (as defined in Section (c)) which provides for minimum consideration payable with respect to each share of Common Stock (on a fully diluted basis) of at least three times the then effective Series A Preferred Conversion Price in cash or Liquid Stock.
For purposes of computing Net Gain, the value of Liquid Stock shall equal the average closing price (or if no closing price is available for one or more trading days, the average of the closing bid price and closing asked price for each such trading day) of the Liquid Stock on the 10 trading days immediately preceding the Liquidity Event (or all such trading days on which the Liquid Stock has been traded if fewer than 10 days).

More Definitions of Liquid Stock

Liquid Stock means shares of stock (issued by any acquirer of the Company's assets in a transaction described in clause (i) of the definition of "Change of Control" or any acquirer of the Company's Common Stock or other voting stock in a transaction described in clause (ii) or (iv) of such definition) which have all of the following attributes:

Liquid Stock is defined in Section 10.01 of this Agreement.

Liquid Stock means stock or other securities (i) which are freely tradeable and which have been registered pursuant to a registration statement or similar document in compliance with the Securities Act of 1933, as amended, and for which the registration statement or similar document has gone effective or (ii) which are freely tradeable by virtue of their issuance pursuant to a transaction described in Section 3(a)(10) of the Securities Act of 1933. as amended.

Liquid Stock means any block of Indemnity Shares that is freely tradable on the SWX New Market and as to which the lock-up restrictions set forth in the lock-up agreement to be entered into pursuant to Section 7(a)(vii) and EXHIBIT D of this Agreement have expired.