Common use of Definition of Market Price Clause in Contracts

Definition of Market Price. As used herein, the phrase “Market Price” at any date shall be deemed to be (i) if the principal trading market for such securities is NASDAQ Stock Market or another exchange, the average of the high reported sale prices per share of Common Stock for the five preceding consecutive trading days on which the Common Stock trades ending on the date immediately before the date of determination, (ii) if the principal market for the Common Stock is the over-the-counter market, the average of the closing sale prices per share for the five preceding consecutive trading days ending on the date immediately before the date of determination on such trading days or, (iii) if the Common Stock is not quoted by such over-the-counter market, the average of the average of the mean of the bid and asking prices per share on such trading days as set forth in the National Quotation Bureau sheet listing such securities for such days. Notwithstanding the foregoing, if there is no reported high sale price, as the case may be, reported on any of the ten trading days preceding the event requiring a determination of Market Price hereunder, then the Market Price shall be the average of the high bid and asked prices for such days; and if there is no reported high bid and asked prices, as the case may be, reported on any of the ten trading days preceding the event requiring a determination of Market Price hereunder, then the Market Price shall be determined in good faith by resolution of the Board of Directors of the Company, based on the best information available to it or in the event of a dispute of the determination of the Board of Directors of the Company provided in clause (b) above, by arbitration in accordance with the rules then standing of the American Arbitration Association, before a single arbitrator to be chosen by the Company and reasonably acceptable to a majority in interest of the holders of Warrants from a panel of persons qualified by education and training to pass on the matter to be decided.

Definition of Market Price. As used hereinin this Warrant, the phrase “term -------------------------- "Market Price” at any date " shall mean the average of the daily closing prices per share of the Common Stock for the ten (10) consecutive trading days immediately preceding the day as of which Market Price is being determined. The closing price for each day shall be deemed to be (i) if the principal trading market for last reported sale price or, in case no such securities is NASDAQ Stock Market or another exchangesale takes place on such day, the average of the high reported sale prices per share of Common Stock for the five preceding consecutive trading days on which the Common Stock trades ending closing bid and asked prices, in either case on the date immediately before the date of determinationNew York Stock Exchange, (ii) if the principal market for the Common Stock is the over-the-counter market, the average of the closing sale prices per share for the five preceding consecutive trading days ending on the date immediately before the date of determination on such trading days or, (iii) if the Common Stock is not quoted by such over-the-counter marketlisted or admitted to trading on the New York Stock Exchange, on the principal national securities exchange on which the shares are listed or admitted to trading, or, if the shares are not so listed or admitted to trading, the average of the average of the mean of the highest reported bid and asking lowest reported asked prices per share on such trading days as set forth in furnished by the National Quotation Bureau sheet listing such securities for such days. Notwithstanding Association of Securities Dealers, Inc. (the foregoing, "NASD") through NASDAQ or through a similar organization if there NASDAQ is no reported high sale price, longer reporting such information or as the case may be, reported on the NASD's OTC Electronic Bulletin Board ("OTC"). If shares of Common Stock are not listed or admitted to trading on any of the ten trading days preceding the event requiring a determination of Market Price hereunderexchange or quoted through NASDAQ or any similar organization or reported on OTC, then the Market Price shall be deemed to be the average higher of (A) the book value of a share of the high bid and asked prices for such days; and if there is no reported high bid and asked prices, Common Stock as the case may be, reported on determined by any firm of the ten trading days preceding the event requiring a determination of Market Price hereunder, then the Market Price shall be determined in good faith independent public accountants selected by resolution of the Board of Directors of the Company, based on the best information available to it or in the event of a dispute of the determination of the Board of Directors of the Company provided in clause (b) aboveand acceptable to the Registered Holder, by arbitration in accordance with the rules then standing as of the American Arbitration Association, before a single arbitrator end of the most recent fiscal quarter preceding the date as of which the determination is to be chosen made, or (B) the fair value thereof determined in good faith by the Company and reasonably acceptable to Company's Board of Directors as expressed by a majority in interest resolution of such board as of a date which is within fifteen (15) days of the holders date as of Warrants from a panel of persons qualified by education and training to pass on which the matter determination is to be decidedmade. The fees and expenses of any accounting firm engaged pursuant to subclause (A) of this Section 3(f) shall be paid by the Company.

Definition of Market Price. As used hereinin this Warrant, the phrase “term "Market Price” at " shall mean the average of the daily closing prices per share of the Common Stock for the ten (10) consecutive trading days immediately preceding the day as of which Market Price is being determined. The closing price for each day shall be the last reported sale price or, in case no such sale takes place on such day, the average of the reported closing bid and asked prices, in either case on the American Stock Exchange, or, if the shares of the Common Stock are not listed or admitted to trading on the American Stock Exchange, on the principal national securities exchange on which the shares are listed or admitted to trading, or, if the shares are not so listed or admitted to trading, the average of the highest reported bid and lowest reported asked prices as furnished by the National Association of Securities Dealers, Inc. (the "NASD") through NASDAQ or through a similar organization if NASDAQ is no longer reporting such information or as reported on the NASD's OTC Electronic Bulletin Board ("OTC"). If shares of the Common Stock are not listed or admitted to trading on any date exchange or quoted through NASDAQ or any similar organization or reported on OTC, the Market Price shall be deemed to be the higher of (iA) if the principal trading market for such securities is NASDAQ Stock Market or another exchange, the average book value of the high reported sale prices per a share of Common Stock for the five preceding consecutive trading days on which the Common Stock trades ending on the date immediately before the date as determined by any firm of determination, (ii) if the principal market for the Common Stock is the over-the-counter market, the average of the closing sale prices per share for the five preceding consecutive trading days ending on the date immediately before the date of determination on such trading days or, (iii) if the Common Stock is not quoted independent public accountants selected by such over-the-counter market, the average of the average of the mean of the bid and asking prices per share on such trading days as set forth in the National Quotation Bureau sheet listing such securities for such days. Notwithstanding the foregoing, if there is no reported high sale price, as the case may be, reported on any of the ten trading days preceding the event requiring a determination of Market Price hereunder, then the Market Price shall be the average of the high bid and asked prices for such days; and if there is no reported high bid and asked prices, as the case may be, reported on any of the ten trading days preceding the event requiring a determination of Market Price hereunder, then the Market Price shall be determined in good faith by resolution of the Board of Directors of the Company, based on the best information available to it or in the event of a dispute of the determination of the Board of Directors of the Company provided in clause (b) above, by arbitration in accordance with the rules then standing of the American Arbitration Association, before a single arbitrator to be chosen by the Company and reasonably acceptable to a majority in interest the Registered Holder, as of the holders end of Warrants from a panel the most recent fiscal quarter preceding the date as of persons qualified by education and training to pass on which the matter determination is to be decidedmade, or (B) the fair value thereof determined in good faith by the Company's Board of Directors as expressed by a resolution of such board as of a date which is within fifteen (15) days of the date as of which the determination is to be made. The fees and expenses of any accounting firm engaged pursuant to subclause (A) of this Section 3(f) shall be paid by the Company.

Definition of Market Price. As used hereinin this Warrant, the phrase “term "Market Price” at any date " shall mean the average of the daily closing prices per share of the Common Stock for the ten (10) consecutive trading days immediately preceding the day as of which Market Price is being determined. The closing price for each day shall be deemed to be (i) if the principal trading market for last reported sale price or, in case no such securities is NASDAQ Stock Market or another exchangesale takes place on such day, the average of the high reported sale prices per share of Common Stock for the five preceding consecutive trading days on which the Common Stock trades ending closing bid and asked prices, in either case on the date immediately before the date of determinationNew York Stock Exchange, (ii) if the principal market for the Common Stock is the over-the-counter market, the average of the closing sale prices per share for the five preceding consecutive trading days ending on the date immediately before the date of determination on such trading days or, (iii) if the Common Stock is not quoted by such over-the-counter marketlisted or admitted to trading on the New York Stock Exchange, on the principal national securities exchange on which the shares are listed or admitted to trading, or, if the shares are not so listed or admitted to trading, the average of the average of the mean of the highest reported bid and asking lowest reported asked prices per share on such trading days as set forth in furnished by the National Quotation Bureau sheet listing such securities for such days. Notwithstanding Association of Securities Dealers, Inc. (the foregoing, "NASD") through NASDAQ or through a similar organization if there NASDAQ is no reported high sale price, longer reporting such information or as the case may be, reported on the NASD's OTC Electronic Bulletin Board ("OTC"). If shares of Common Stock are not listed or admitted to trading on any of the ten trading days preceding the event requiring a determination of Market Price hereunderexchange or quoted through NASDAQ or any similar organization or reported on OTC, then the Market Price shall be deemed to be the average higher of (A) the book value of a share of the high bid and asked prices for such days; and if there is no reported high bid and asked prices, Common Stock as the case may be, reported on determined by any firm of the ten trading days preceding the event requiring a determination of Market Price hereunder, then the Market Price shall be determined in good faith independent public accountants selected by resolution of the Board of Directors of the Company, based on the best information available to it or in the event of a dispute of the determination of the Board of Directors of the Company provided in clause (b) aboveand acceptable to the Registered Holder, by arbitration in accordance with the rules then standing as of the American Arbitration Association, before a single arbitrator end of the most recent fiscal quarter preceding the date as of which the determination is to be chosen made, or (B) the fair value thereof determined in good faith by the Company and reasonably acceptable to Company's Board of Directors as expressed by a majority in interest resolution of such board as of a date which is within fifteen (15) days of the holders date as of Warrants from a panel of persons qualified by education and training to pass on which the matter determination is to be decidedmade. The fees and expenses of any accounting firm engaged pursuant to subclause (A) of this Section 3(f) shall be paid by the Company.

Definition of Market Price. As used herein, the phrase “Market Price” at any date shall be deemed to be (i) if the principal trading market for such securities is NASDAQ Stock The Nasdaq SmallCap Market or another exchange, the average of the high reported sale prices per share of Common Stock for the five preceding consecutive trading days on which the Common Stock trades ending on the date immediately before the date of determination, (ii) if the principal market for the Common Stock is the over-the-counter market, the average of the closing high reported sale prices per share for the five preceding consecutive trading days ending on the date immediately before the date of determination on such trading days as set forth by such market or, (iii) if the Common Stock is not quoted by such over-the-counter market, the average of the average of the mean of the bid and asking prices per share on such trading days as set forth in the National Quotation Bureau sheet listing such securities for such days. Notwithstanding the foregoing, if there is no reported high sale price, as the case may be, reported on any of the ten trading days preceding the event requiring a determination of Market Price hereunder, then the Market Price shall be the average of the high bid and asked prices for such days; and if there is no reported high bid and asked prices, as the case may be, reported on any of the ten trading days preceding the event requiring a determination of Market Price hereunder, then the Market Price shall be determined in good faith by resolution of the Board of Directors of the Company, based on the best information available to it or in the event of a dispute of the determination of the Board of Directors of the Company provided in clause (b) above, by arbitration in accordance with the rules then standing of the American Arbitration Association, before a single arbitrator to be chosen by the Company and reasonably acceptable to a majority in interest of the holders of Warrants from a panel of persons qualified by education and training to pass on the matter to be decided.