Maximum Price means an amount (excluding related brokerage, commission, applicable goods and services tax, stamp duties, clearance fees and other related expenses) which may be paid for an ordinary share purchased or acquired by us pursuant to the mandate contained in paragraph (a) above, not exceeding, in the case of a market purchase of an ordinary share, the highest independent bid or the last independent transaction price, whichever is higher, of our ordinary shares quoted or reported on the NASDAQ Global Select Market or the securities exchange operated by JSE Limited (the “JSE”), as the case may be, or shall not exceed any volume weighted average price, or other price determined under any pricing mechanism, in compliance with the requirements under Rule 10b-18 under the Exchange Act, at the time the purchase is effected; and
Maximum Price means: (a) from August 2, 2016 and through December 27, 2016, $27.50; (b) subsequent to December 27, 2016 and through June 28, 2020, the product of (i) $25.00 plus any accrued and unpaid dividends per share to, but excluding, the date of sale and (ii) the sum of (A) 1.0 and (B) (x) the number of complete years until the optional redemption date (June 28, 2021) remaining at the date of sale multiplied by (y) 0.0050; and (c) on June 29, 2020 and thereafter, $25.00 plus any accrued and unpaid dividends per share to, but excluding, the date of sale. The Company hereby confirms that, as of the date of this Placement Notice, neither the Prospectus, nor any Issuer Free Writing Prospectus, when taken together with the Prospectus, includes an untrue statement of a material fact or omits to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The Company hereby confirms that, as of the date of this Placement Notice, it is not in possession of any material non-public information. [ADDITIONAL SALES PARAMETERS MAY BE ADDED, SUCH AS THE MAXIMUM AGGREGATE OFFERING PRICE, THE TIME PERIOD IN WHICH SALES ARE REQUESTED TO BE MADE, SPECIFIC DATES THE SHARES MAY NOT BE SOLD ON AND THE MANNER IN WHICH SALES ARE TO BE MADE BY THE AGENT. Pursuant to Section 7(q) of the several Sales Agreements (each, an “Agreement”), each dated as of August 2, 2016, by and among Summit Hotel Properties, Inc. (the “Company”) and Summit Hotel OP, LP (the “Operating Partnership”), on the one hand, and each of Xxxxxx X. Xxxxx & Co. Incorporated, Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated, Canaccord Genuity Inc., Deutsche Bank Securities Inc., Xxxxxxxxx LLC, KeyBanc Capital Markets Inc., Xxxxxxx Xxxxx & Associates Inc. and RBC Capital Markets, LLC, (each, an “Agent”), on the other hand, the undersigned President and Chief Executive Officer of the Company and the undersigned Executive Vice President, Chief Financial Officer and Treasurer of the Company hereby represent and warrant to each Agent that, as of the date indicated next to the signatures below:
Maximum Price means: (a) from August 2, 2016 and through December 27, 2016, $27.50; (b) subsequent to December 27, 2016 and through June 28, 2020, the product of (i) $25.00 plus any accrued and unpaid dividends per share to, but excluding, the date of sale and (ii) the sum of (A) 1.0 and (B) (x) the number of complete years until the optional redemption date (June 28, 2021) remaining at the date of sale multiplied by (y) 0.0050; and (c) on June 29, 2020 and thereafter, $25.00 plus any accrued and unpaid dividends per share to, but excluding, the date of sale. For the purposes of this Agreement, “Trading Day” means any day on which shares of the Common Stock and/or the Series D Preferred Stock may be purchased and sold on the NYSE.
Examples of Maximum Price in a sentence
Where the Contract is based on a stipulated sum or Guaranteed Maximum Price, the Contractor shall submit a schedule of values to the Architect before the first Application for Payment, allocating the entire Contract Sum to the various portions of the Work.
The general contractor is responsible for completing the particular project for a fixed price; (ii) a construction manager hired by the State to provide professional services and act as a consultant to the State in the design development and construction phases and to deliver the particular project for a Guaranteed Maximum Price; or (iii) a design-build contractor hired by the State to provide both design and construction services, under a single contract, for a particular project.
The Construction Manager, however, does not warrant or guarantee estimates and schedules except as may be included as part of the Guaranteed Maximum Price.
The proposed schedule shall be integrated into the Construction Manager's CPM Schedule upon approval of its Guaranteed Maximum Price Amendment.
Where the Contract is based on a stipulated sum or Guaranteed Maximum Price, the Contractor shall submit to the Architect, before the first Application for Payment, a schedule of values allocating the entire Contract Sum to the various portions of the Work and prepared in such form and supported by such data to substantiate its accuracy as the Architect may require.
More Definitions of Maximum Price
Maximum Price means the purchase price (excluding brokerage, commission, applicable goods and services tax and other related expenses) that shall not exceed 105% of the Average Closing Price; and
Maximum Price means:
i. in respect of the sale of an Employee Unit to the person to whom the Employee Unit is first transferred following separate indefeasible title being raised in the LTO for the Employee Unit, either as a parcel or strata lot, the Original Maximum Price;
ii. in respect of any sale of the Employee Unit after the initial transfer referred to in paragraph (i) of this definition: the sale price for the then most recent sale of the Employee Unit plus that most recent sale price multiplied by the Change in CPI. Where the Change in CPI is negative or cannot be determined, the Maximum Price under this paragraph (ii) shall be the most recent sale price. The sample calculations set out in Schedule C attached hereto shall be used for the purposes of interpreting this definition of “Maximum Price”.
Maximum Price means the maximum price at which the Shares can be purchased pursuant to the Shares Purchase Mandate, which shall not exceed the sum constituting five per cent (5%) above the average closing price of the Shares over the period of five (5) trading days in which transactions in the Shares on SGX-ST were recorded, in the case of a Market Purchase, before the day on which such purchase is made, and, in the case of an Off-Market Purchase, immediately preceding the date of offer by the Company, as the case may be, and adjusted for any corporate action that occurs after the relevant five (5) day period.
Maximum Price means $4.25.
Maximum Price means 105% of the Average Closing Price (hereinafter defined), excluding related expenses of the purchase or acquisition of a Share by way of a Market Purchase; and
Maximum Price means an amount equal to the maximum that the initial purchase price for a Purchased Loan may be such that, after giving effect to the purchase of such Purchased Loan, the Asset Base Margin Value will be less than or equal to the sum of (i) the aggregate of the Asset Base Components for all Purchased Loans subject to Transactions and (ii) the product of 87.5% and the aggregate Asset Value for all Mortgage Loans subject to Transactions.
Maximum Price means the purchase price (excluding brokerage, stamp duties, applicable goods and services tax and other related expenses) to be paid for a Share in the event of any proposed Share Buy Back determined by the Directors, subject to compliance with the Catalist Rules, where applicable, but in any event, not exceeding the maximum price, which: