Market System definition

Market System means a complete and fully operational telecommunications system using the LICENSED TECHNOLOGY and shall include all equipment used thereon and other ancillary devices, equipment and materials, including without limitation, the LICENSED PRODUCTS.

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Market System or otherwise traded in the over-the-counter market, the term "Stock Value" shall mean the value of a share of Parent Common Stock as of the last day of such quarter as reasonably determined by the Board of Directors of Parent. Notwithstanding the foregoing, Seller may elect, by written notice to Buyer at least ten trading days prior to the end of such quarter, to receive payment of such Stock Value in cash in lieu of shares of Parent Common Stock. In the event Parent effects an underwritten initial public offering of Parent Common Stock for cash resulting in net proceeds to Parent of at least $20 million (the "IPO") within one year from the date hereof, and the gross price to the public of a share of Parent Common Stock in the IPO, as set forth in an executed underwriting agreement (the "IPO Price to the Public") is less than $7.00 (adjusted for stock splits, reverse stock splits and stock dividends occurring after the date hereof), Buyer shall deliver to Seller, within 30 days after the closing of the IPO, that number of shares of Parent Common Stock (rounded to the nearest whole share) which, when added to the number of shares of Parent Common Stock delivered to Seller pursuant to Section 2.2 (adjusted for stock splits, reverse splits and stock dividends occurring after the date hereof) will result in a total value of Parent Common Stock of $90,006, assuming each share of Parent Common Stock is valued at the IPO Price to the Public.

Market System of the National Association of Securities Dealers, Inc. Automated Quotations System or any similar system of automated dissemination of quotations of securities prices in the United States or for which there is a recognized market maker or trading market.

Examples of Market System in a sentence

Automated Quotation ("NASDAQ") National Market System or the NASDAQ SmallCap Market, then the closing or last sale price, respectively, reported for the last business day immediately preceding the Determination Date.
The Company will maintain the listing of its Common Stock on the American Stock Exchange, Nasdaq SmallCap Market, Nasdaq National Market System, Bulletin Board, or New York Stock Exchange (whichever of the foregoing is at the time the principal trading exchange or market for the Common Stock (the "Principal Market")), and will comply in all respects with the Company's reporting, filing and other obligations under the bylaws or rules of the Principal Market, as applicable.
The “Principal Market” for the Common Stock shall include the NASD OTC Bulletin Board, NASDAQ SmallCap Market, NASDAQ National Market System, American Stock Exchange, or New York Stock Exchange (whichever of the foregoing is at the time the principal trading exchange or market for the Common Stock, or any securities exchange or other securities market on which the Common Stock is then being listed or traded.
The price per Share shall be determined by reference to prevailing market prices through the National Market System.
The "Principal Market" for the Common Stock shall include the NASD OTC Bulletin Board, NASDAQ SmallCap Market, NASDAQ National Market System, American Stock Exchange, or New York Stock Exchange (whichever of the foregoing is at the time the principal trading exchange or market for the Common Stock, or any securities exchange or other securities market on which the Common Stock is then being listed or traded.
The Parent shall maintain at least one class of common shares of the Parent having trading privileges on the New York Stock Exchange or NYSE Amex Equities or which is subject to price quotations on The NASDAQ Stock Market’s National Market System.
Automated Quotation ("NASDAQ") National Market System, the NASDAQ SmallCap Market or the American Stock Exchange, Inc., then the closing or last sale price, respectively, reported for the last business day immediately preceding the Determination Date.
The Closing Price for any day shall be (i) if the Common Stock is listed or admitted for trading on any national securities exchange, the last sale price (regular way), or the average of the closing bid and ask prices if no sale occurred, of Common Stock on the principal securities exchange on which the Common Stock is listed, or, if not listed or admitted to trading on any national securities exchange, on the National Market System of the National Association of Securities Dealers, Inc.
Until at least two (2) years after the Warrants have been exercised, the Company will use its commercial best efforts to continue the listing of the Common Stock on the Bulletin Board, NASDAQ SmallCap Market, New York Stock Exchange, American Stock Exchange, or NASDAQ National Market System and will comply in all respects with the Company's reporting, filing and other obligations under the bylaws or rules of the NASD and NASDAQ.
The China Connect Market System is a platform for trading of China Connect Securities under China Connect.

More Definitions of Market System

Market System. (or such other exchange on which the Common Stock is listed) shall equal or exceed $10.00 on at least twenty (20) consecutive trading days subsequent to the date of the grant; Options as to an additional 250,000 shares of Common Stock shall become vested and exercisable if the closing price for the Common Stock as quoted on the NASDAQ National Market System (or such other exchange on which the Common Stock is listed) shall equal or exceed $13.00 on at least twenty (20) consecutive trading days subsequent to the date of the grant; and Options as to an additional 100,000 shares of Common Stock shall become vested and exercisable if the closing price for the Common Stock as quoted on the NASDAQ National Market System (or such other exchange on which the Common Stock is listed) shall equal or exceed $20.00 on at least twenty (20) consecutive trading days subsequent to the date of grant (the foregoing applicable closing prices of the Common Stock set forth in this Section 3.4(b)(i), the "Target Prices").