NSR Value Amount definition

NSR Value Amount means that amount obtained by multiplying (i) the number of shares by which the Second Tranche Shares or the Penalty Shares, as applicable, exceeds 7,700,000 Common Shares (or such other amount as determined by the TSXV) at the time of the issuance for such Second Tranche Shares or Penalty Shares, as applicable, by (ii) the Market Price on the trading day immediately prior to the date on which the Second Tranche Shares or Penalty Shares, as applicable, are to be issued to GoldQuest.
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Examples of NSR Value Amount in a sentence

  • To the extent that Portex is required to issue Common Shares to satisfy the Second Instalment or Penalty Shares, as applicable, in excess of 7,700,000 Common Shares (or such other amount as determined by the TSXV), it shall, in lieu of issuing that number of excess Common Shares, satisfy such obligation by payment of the NSR Value Amount in accordance with Article III.

  • Commencing on the date on which Portex is required to issued the Second Tranche Shares or the Penalty Shares, the NSR Value Amount shall bear interest at the rate of two (2%) per cent per annum of the outstanding principal, compounded semi-annually.

  • Should Portex be unable to obtain such approvals, the NSR Value Amount shall be satisfied by payment of the NSR Value Amount in immediately available funds to or at the direction of GoldQuest.