Variable Exercise Price definition

Variable Exercise Price means, as of any Exercise Date, 85% of the Market Price on such Exercise Date (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or similar events occurring on such Exercise Date).

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Variable Exercise Price means, as of any date of determination, the amount obtained by multiplying the Exercise Percentage then in effect by the average of the five (5) lowest Closing Bid Prices for the Common Stock during the twenty (20) consecutive trading day period ending on the trading day immediately preceding such date of determination (subject to equitable adjustment for any stock splits, stock dividends, reclassifications or similar events during such twenty (20) trading day period), and shall be subject to adjustment as provided herein.

Variable Exercise Price means, as of any date of determination, the amount obtained by multiplying (i) .95 (the "Exercise Percentage") and (ii) the average of the three (3) lowest Closing Bid Prices for the Common Stock during the twenty (20) consecutive trading day period ending on the trading day immediately preceding such date of determination (subject to equitable adjustment for any stock splits, stock dividends, reclassifications or similar events during such twenty (20) trading day period), and shall be subject to adjustment as provided herein; provided that beginning on that day which is one hundred eighty days after the Issuance Date such twenty day period shall be increased by one (1) additional trading day for each thirty (30) day period thereafter.

Examples of Variable Exercise Price in a sentence

• By way of example, if Holder exercises $10,000 of this Warrant at a Variable Exercise Price of $0.05, and the then current Fixed Exercise Price is $0.1069, the Holder shall receive 200,000 Warrant Shares upon exercise of this Warrant and the aggregate number of Warrant Shares issuable pursuant to this Warrant shall be increased by 106,454 Warrant Shares.

• By way of example, if Holder exercises $10,000 of this Warrant at a Variable Exercise Price of $0.05, and the then Fixed Exercise Price is $0.1069, the Holder shall receive 200,000 Warrant Shares upon exercise of this Warrant and the aggregate number of Warrant Shares issuable pursuant to this Warrant shall be increased by the difference between 200,000 Warrant Shares subtracted by 93,546 Warrant Shares ($10,000 divided by $0.1069) or 106,454 Warrant Shares.

• If any part of this Warrant is exercised by Holder at the Variable Exercise Price, the number of Warrant Shares issuable under the Warrant shall increase by an amount equal to the difference between the number of Warrant Shares issued following an exercise at the Variable Exercise Price in accordance with Section 2(b) subtracted by the number of Warrant Shares that would have then been issued if the Warrant was exercised at the Fixed Exercise Price.

• For purposes of this Warrant, “Exercise Price” means, as of any given Exercise Date, the lesser of (x) the Fixed Exercise Price and (y) the Variable Exercise Price in effect as of such Exercise Date, subject to adjustment as provided herein.

• For purposes of this Warrant, “Exercise Price” means [INSERT IN SERIES A WARRANT ONLY: means, as of any given Exercise Date, the lesser of (x) the Fixed Exercise Price and (y) the Variable Exercise Price in effect as of such Exercise Date] [INSERT IN SERIES B WARRANT ONLY: $0.01], subject to adjustment as provided herein.

• The adjustment in the number of Common Shares shall be applicable regardless of whether the Exercise Price is deemed to be the Fixed Exercise Price or the Variable Exercise Price.

• For purposes of this Warrant, “Exercise Price” means [INSERT IN SERIES A WARRANT ONLY: means, as of any given Exercise Date, the lesser of (x) the Fixed Exercise Price and (y) the Variable Exercise Price in effect as of such Exercise Date] [INSERT IN SERIES B WARRANT ONLY: $0.01, subject to adjustment as provided herein.

More Definitions of Variable Exercise Price

Variable Exercise Price means, as of any date of determination after the publication of such results, the average of the lowest three (3) Closing Bid Prices for the twenty (20) consecutive trading day period ending on the trading day immediately preceding the date of determination, provided, however, in no event shall the Variable Exercise Price exceed the Closing Bid Price on the date of determination (subject to equitable adjustment for any stock splits, stock dividends, reclassifications or similar events during such twenty (20) day trading period), and shall be subject to adjustment as provided herein.

Variable Exercise Price means, as of any date of determination, the amount obtained by multiplying the Exercise Percentage then in effect by the average of the Closing Bid Prices for the Corporation's Common Stock during the ten (10) consecutive trading days ending on the trading day immediately preceding such date of determination (subject to equitable adjustment for any stock splits, stock dividends, reclassifications or similar events during such ten (10) trading day period), and shall be subject to adjustment as provided herein. For the avoidance of doubt, the trading day immediately preceding any Exercise Date is the last calendar day that is a trading day and which is immediately preceding the Exercise Date.

Variable Exercise Price means, as of any Exercise Date, 85% of the Market Price on such Exercise Date (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or similar events occurring on such Exercise Date).][INSERT IN SERIES B WARRANT ONLY: [Intentionally Omitted]]

Variable Exercise Price means, as of any date of determination, the average of the lowest five (5) Closing Bid Prices for the ten (10) consecutive trading day period ending on the trading day immediately preceding the date of determination, provided, however, in no event shall the Variable Exercise Price exceed the Closing Bid Price on the date of determination (subject to equitable adjustment for any stock splits, stock dividends, reclassifications or similar events during such ten (10) trading day period), and shall be subject to adjustment as provided herein. Notwithstanding the foregoing, in the event that the Corporations does not realize $4,500,000 or more of gross revenues for the fourth quarter of fiscal year 2001 as reflected in its filing with the Securities and Exchange Commission, "VARIABLE EXERCISE PRICE" shall mean, as of any date of determination after the publication of such results, the average of the lowest three (3) Closing Bid Prices for the twenty (20) consecutive trading day period ending on the trading day immediately preceding the date of determination, provided, however, in no event shall the Variable Exercise Price exceed the Closing Bid Price on the date of determination (subject to equitable adjustment for any stock splits, stock dividends, reclassifications or similar events during such twenty (20) day trading period), and shall be subject to adjustment as provided herein.

Variable Exercise Price means for any time of determination, the greater of (i) the Floor Price, if any, and (ii) 82.5% of the quotient of (x) the sum of the VWAP of the Common Stock for each of the three (3) consecutive Trading Day period ending and including the Trading Day ended immediately preceding the applicable time of determination, divided by (y) 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.