TWAP definition
TWAP shall have the meaning ascribed to such term in Section 2.1(b).
TWAP means, with respect to any type of Digital Asset and as of any date of determination, an amount equal to the time weighted average price in U.S. dollars for such type of Digital Asset for the consecutive [24-hour period] immediately prior to 8:00 a.m. New York Time on a date that is at least [seven (7) Business Days] prior to the distribution of such Digital Asset, as reported on https://coinmarketcap.com or another recognizable third party source.]
TWAP means the time-weighted average price of the Token during the applicable Pricing Period calculated by the Seller in good faith. The TWAP will be calculated as the average of hourly price averages. Each hourly price average will be calculated by summing all traded Token prices on the Exchange during the hour and dividing by the number of trades in the hour (“Hourly Average”). The final TWAP for calculating Tranche Purchase Prices will equal the sum of all Hourly Averages during the Pricing Period divided by the Tranche Pricing Period.
Examples of TWAP in a sentence
For certainty, the Hourly Average and Historic Knockout Rate will be used to calculate the Historic Knockout Amount for each hour, which will then be used to calculate the Schedule B Tranche TWAP.
More Definitions of TWAP
TWAP or “Time-Weighted Average Price” shall mean the arithmetic average of the last traded price of a round-lot trade of the Company’s Common Shares recorded at regular 10-minute intervals during regular trading hours (period between 9:30 a.m. and 4:00 p.m. Eastern Time) on a given Trading Day.
TWAP means the arithmetic average of the last traded price of a round-lot trade of the Company’s Ordinary Shares recorded at regular thirty (30) minute intervals during regular trading hours on a Purchase Date. In the event that no round-lot trade of the Company’s Common Shares is recorded during any thirty (30) minute interval on a Purchase Date, the price for such interval shall be deemed to be the last traded price of a round-lot trade from the most recent prior interval on the same Purchase Date in which a round-lot trade occurred. If no round-lot trade has occurred on the Purchase Date prior to such interval, the price for such interval shall be deemed to be the last traded price of a round-lot trade from the most recent prior Business Day. For a Regular Purchase, TWAP calculation begins at 9:30 a.m. EST. For an Accelerated Purchase, TWAP calculation begins at the nearest thirty (30) minute interval following receipt of a Accelerate Purchase Notice.