Test Price definition

Test Price means the volume-weighted average price of the Common Stock for the sixty (60) trading day period immediately preceding the relevant Test Date as calculated by Bloomberg (or its successor). For avoidance of doubt, the Test Prices and number of Option Shares set forth above shall be subject to adjustment for any capital changes of the Company as provided in Section 10.1 of the Plan. Notwithstanding the foregoing or any other provision of this Agreement to the contrary, in the event of a Change in Control, Section 10.2 of the Plan shall control the vesting, exercisability and termination of the Option.
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Test Price means the volume-weighted average price of the Common Stock for the sixty (60) trading day period immediately preceding the relevant Test Date as calculated by Bloomberg (or its successor).
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Test Price. Test Date: Percentage of Option Shares Vested: Expiration Date:
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Examples of Test Price in a sentence

  • By way of example and not limitation, if the Holder demands Downside Protection with respect to 3,300,000 Tranche I Warrant Shares at a time when the Test Price is $4.50, the Company will issue to the Holder a number of Downside Protection Shares equal to 3,300,000 / ($4.50/$1.50) = 1,100,000 Downside Protection Shares.

  • The Company hereby grants to Optionee an unvested, non-qualified option to purchase up to__________ shares of Common Stock (the “Option Shares”) at an exercise price equal to the applicable Test Price therefor as set forth on Schedule 1 hereto (the “Option”).

  • Contractor shall provide clinical laboratory services only according to the test list approved by Director, Exhibit B (Test Price List), and as otherwise requested by Director following procedures set forth in Exhibit A (SOW), Paragraph 3 (WORK), and Exhibit B (Test Price List).

  • B = the Test Price or Dilutive Offering Reset Price pursuant to Section 2(a) or Section 2(b), as applicable (provided, however, (B) shall not be lower than $1.50); and C = $1.50 Demand of the Downside Protection shall be irrevocable.

  • As another example, if the Holder demands Downside Protection with respect to 3,300,000 Tranche I Warrant Shares when the Test Price is $2.50, the Company would be required to issue to the Holder a number of Downside Protection Shares equal to 3,300,000 / ($2.50/$1.50) = 1,980,000 Downside Protection Shares.

  • The Holder hereby certifies that, as of ____________ (the Reset Date or Dilutive Offering Reset Date, as applicable), the Test Price or Dilutive Offering Reset Price, as applicable, of the Tranche ___ Warrant Shares calculated pursuant to Section 2(a) or Section 2(b) of the Warrant, as applicable, is below the Downside Protection Threshold Price.

  • Unit Test Price Based on our experience with similar products the following tests have been added to the unit labor cost.

  • Downside Protection for the other Tranches of Warrant Shares shall be triggered only if, at the next Reset Date (x) with respect to the Tranche I Warrants, the Exercise Price is lower than the Downside Protection Threshold Price, (y) with respect to the Tranche II Warrants, 125% of the Test Price is lower than the Downside Protection Threshold Price, or (z) with respect to the Tranche III Warrants, 150% of the Test Price is lower than the Downside Protection Threshold Price.

  • Date Principal Interest Test Price Rule (September 1) Amount Rate Yield Price Used Used T: Term bond.

  • The Option shall vest and may be exercised for the indicated “Percentage of Option Shares Vested” if the relevant Test Price for the Common Stock is satisfied as of the relevant test date (each, a “Test Date”), in accordance with the schedule set forth below.