Definition of Fair Market Value. Whenever "Fair Market Value" of Common Stock shall be determined for purposes of this Agreement, it shall be determined by reference to the last sale price of a share of Common Stock on the principal United States Securities Exchange registered under the 1934 Act on which the Common Stock is listed (the "Exchange"), or on the National Association of Securities Dealers, Inc. Automatic Quotation System (including the National Market System) ("NASDAQ") on the applicable date. If the Exchange or NASDAQ is closed for trading on such date, or if the Common Stock does not trade on such date, then the last sale price used shall be the one on the date the Common Stock last traded on the Exchange or NASDAQ.
Appears in 4 contracts
Samples: Option Agreement (Park Place Entertainment Corp), Option Agreement (Park Place Entertainment Corp), Option Agreement (Park Place Entertainment Corp)
