Definition of Pre-Automatic Conversion Price

Pre-Automatic Conversion Price means, with respect to a particular date of determination, the lower of (i) the Conversion Price then in effect and (ii) the price which is equal to the product of (1) 70% multiplied by (2) the quotient of (A) the sum of each of the three (3) lowest Closing Bid Prices of the Common Stock during the twenty (20) consecutive Trading Day period immediately preceding the applicable Pre-Automatic Conversion Date divided by (B) three (3). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during any such measuring period. In the event of a dispute as to the determination of the Pre-Automatic Conversion Price, then such dispute shall be resolved pursuant to Section 23.
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Examples of Pre-Automatic Conversion Price in a sentence

No later than one (1) Trading Day after the timely delivery of a valid Automatic Conversion Notice, the Company shall deliver to the Holder's account with DTC such number of shares of Common Stock (the "Pre-Automatic Conversion Shares") equal to the quotient of (x) the applicable Holder Optional Redemption Price divided by (y) the Pre-Automatic Conversion Price, and as to which the Holder shall be the owner thereof as of such time of delivery of the applicable Automatic Conversion Notice.