Lowest Reset Price shall equal the lowest Reset Price determined on any six-month anniversary date of the Date of Issuance preceding the Date of Exercise, taking into account, as appropriate, any adjustments made pursuant to Section 5 hereof. Payment of the Exercise Price may be made by either of the following, or a combination thereof, at the election of Holder:
Lowest Reset Price shall equal the lowest Reset Price determined on an anniversary date of the Date of Issuance preceding the Date of Exercise, taking into account, as appropriate, any adjustments made pursuant to Section 5 hereof.
Lowest Reset Price shall equal the lowest Reset Price determined on any six-month anniversary date of the Date of Issuance preceding the Date of Exercise, taking into account, as appropriate, any adjustments made pursuant to Section 5 hereof. For purposes hereof, the term "Closing Bid Price" shall mean the closing bid price on the O.T.C. Bulletin Board, the National Market System ("NMS"), the New York Stock Exchange, the Nasdaq Small Cap Market, or if no longer traded on the O.T.C. Bulletin Board, the NMS, the New York Stock Exchange, the Nasdaq Small Cap Market, the "Closing Bid Price" shall equal the closing price on the principal national securities exchange or the over-the-counter system on which the Common Stock is so traded and, if not available, the mean of the high and low prices on the principal national securities exchange on which the Common Stock is so traded. Payment of the Exercise Price may be made by either of the following, or a combination thereof, at the election of Holder:
Examples of Lowest Reset Price in a sentence
The Exercise Price ("Exercise Price"), shall initially equal $Y per share ("Initial Exercise Price"), where "Y" shall equal 110% of the Market Price for the applicable Put (as both are defined in the Investment Agreement) or, if the Date of Exercise is more than six (6) months after the Date of Issuance, the lesser of (i) the Initial Exercise Price or (ii) the "Lowest Reset Price," as that term is defined below.
If the Date of Exercise is more than six (6) months after the Date of Issuance, the Exercise Price shall be reset to equal the lesser of (i) the Exercise Price then in effect, or (ii) the "Lowest Reset Price," as that term is defined below.
The "Lowest Reset Price" shall equal the lowest Reset Price determined on any six-month anniversary date of the Date of Issuance preceding the Date of Exercise, taking into account, as appropriate, any adjustments made pursuant to Section 5 hereof.
The Exercise Price ("Exercise Price"), shall initially equal $Y per share ("Initial Exercise Price"), where "Y" shall equal the Market Price for the applicable Put (as both are defined in the Investment Agreement) or, if the Date of Exercise is more than six (6) months after the Date of Issuance, the lesser of (i) the Initial Exercise Price or (ii) the "Lowest Reset Price," as that term is defined below.
The Exercise Price ("Exercise Price"), shall initially equal $Y per share ("Initial Exercise Price"), where "Y" shall equal 110% of the Market Price ending on the Pricing Period End Date (as both are defined in the Investment Agreement) for the applicable Put or, if the Date of Exercise is more than six (6) months after the Date of Issuance, the lesser of (i) the Initial Exercise Price or (ii) the "Lowest Reset Price," as that term is defined below.
More Definitions of Lowest Reset Price
Lowest Reset Price shall equal the lowest Reset Price determined on any six-month anniversary date of the Date of Issuance preceding the Date of Exercise, taking into account, as appropriate, any adjustments made pursuant to Section 5 hereof. Notwithstanding the above if all of the following are true on the date of an Exercise of this Warrant, then the Exercise Price with respect to that Exercise only shall equal the Initial Exercise Price (subject to any adjustments required under Section 5 of this Warrant), notwithstanding any price resets that would otherwise apply pursuant to this Section 3: (A) the Company has not completed a reverse stock split anytime after the Date of Issuance through and including the date of such Exercise, (B) the lowest Closing Price of the Company's Common Stock for the five (5) trading days immediately preceding the date of such Exercise is $3.00 or greater.
Lowest Reset Price shall equal the Lowest Reset Price determined on an anniversary date of the Date of Issuance preceding the Date of Exercise, taking into account, as appropriate, any adjustments made pursuant to Section 5 hereof.
Lowest Reset Price shall equal the lowest Reset Price determined on any six-month anniversary date of the Date of Issuance preceding the Date of Exercise, taking into account, as appropriate, any adjustments made pursuant to Section 5 hereof. Notwithstanding the above, the Company shall not be required to calculate any additional Reset Prices after the date that is one (1) year after the Date of Issuance if, and only if, all of the following have been satisfied or have occurred: (i) the Company has filed a Registration Statement ("Registration Statement") not later than the time required by the Letter of Intent for a Private Equity Line of Common Stock Pursuant to Regulation D entered into between the Company and Swartz Private Equity, LLC on or about May 19, 1999 (ii) the Company hxx xxxd its best efforts to have the Registration Statement declared effective as soon as possible thereafter, and (iii) the Company has responded in good faith to all comments or requests from the Securities Exchange Commission relating to the Registration Statement within thirty (30) days of the date such comments or requests were received. Payment of the Exercise Price may be made by either of the following, or a combination thereof, at the election of Holder:
Lowest Reset Price shall equal the Fixed Price, as defined in that certain Agreement With Regard to Exercise Price Resets And 4.99% Limitation (the "Reset Fixing Agreement") entered into as of February 9, 2006, by and among Patriot Scientific Corporation and Swartz Private Eqxxxx, LLC taking into account, as appropriate, any adjustments made pursuant to Section 5 hereof."
Lowest Reset Price shall equal the lowest Reset Price determined on any six-month anniversary date of the date of a Merger preceding the Date of Exercise, taking into account, as appropriate, any adjustments made pursuant to Section 5 hereof.
Lowest Reset Price shall equal the lowest Reset Price determined on any six-month anniversary date of the Date of Issuance preceding the Date of Exercise, taking into account, as appropriate, any adjustments made pursuant to Section 5 hereof. Notwithstanding the above, if for any consecutive period of twenty (20) consecutive Liquid Days (as defined below), the Closing Price (as defined below) of the Company's Common Stock exceeds $2.00 per share (subject to adjustments for any stock splits that occur after the original Date of Issuance hereof), then the Exercise Price shall be reset back to $1.00 (subject to adjustments for any stock splits that occur after the original Date of Issuance hereof), and no further Resets shall occur. For purposes hereof, a "Liquid Day" shall mean any trading day during which the Warrant Shares issuable upon exercise of this Warrant are authorized and reserved, and are either (i) registered for resale under a current and effective resale registration statement or (ii) eligible for immediate resale, without volume limitations, pursuant to Rule 144 under the Securities Act of 1933.
Lowest Reset Price. (as defined below) is less than $1.00, then, the Exercise Price shall be reduced to equal the "Lowest Reset Price". The Company shall calculate a "Reset Price" on the Trading Initiation Date, which shall equal the lowest Closing Bid Price of the Company's Common Stock for the five (5) consecutive Trading Days beginning on and following the Trading Initiation Date, and shall calculate a "Reset Price" on each six-month anniversary date of the Trading Initiation Date, which shall equal the lowest Closing Bid Price of the Company's Common Stock for the five (5) Trading Days ending on such six-month anniversary date of the Trading Initiation Date. The "Lowest Reset Price" shall equal the lowest Reset Price determined on the Trading Initiation Date or any six-month anniversary date of the Trading Initiation Date preceding the Date of Exercise, taking into account, as appropriate, any adjustments made pursuant to Section 5 hereof. For purposes hereof, "Trading Initiation Date" shall mean the date that the Company's Common Stock first becomes publicly traded on a national exchange or market and a "Trading Day" shall mean a day on which the Company's Common Stock actually trades on its principal market or exchange. Payment of the Exercise Price may be made by either of the following, or a combination thereof, at the election of Holder: