Maximum Draw Down Amount means the lesser of (i) 2.5% of the Company’s Market Capitalization at the time of the Draw Down, or (ii) $15 million.
Maximum Draw Down Amount means the lesser of (i) 2.5% of the Company’s Market Capitalization at the time a Draw Down Notice is delivered, or (ii) $10 million.
Maximum Draw Down Amount means the lesser of:
Examples of Maximum Draw Down Amount in a sentence
In no event shall any Draw Down Amount exceed the Maximum Draw Down Amount.
During the Commitment Period, the Company may, in its sole discretion, issue a Draw Down Notice (as hereinafter defined) which shall specify the dollar amount of Shares the Company elects to sell to the Investor (each such election, a “Draw Down”) up to a Draw Down Amount equal to the Maximum Draw Down Amount, which Draw Down the Investor shall be obligated to accept.
The Company may, in its sole discretion, issue a Draw Down Notice (defined below) specifying the dollar amount it elects to raise by selling Shares to the Investor (each such election a “Draw Down”) up to a Draw Down Amount equal to the Maximum Draw Down Amount, which Draw Down the Investor will be obligated to accept.
More Definitions of Maximum Draw Down Amount
Maximum Draw Down Amount with respect to any Draw Down effected by the Company in accordance with Section 2.03 hereof shall mean the lesser of (i) $250,000 (subject to increase to (I) $500,000 in the event the average VWAP for the Common Stock for each of the five Trading Days immediately preceding the applicable Draw Down Date, multiplied by the Average Daily Trading Volume of the Common Stock applicable with respect to such Draw Down Date shall exceed $750,000 or (II) $800,000 in the event the average VWAP for the Common Stock for each of the five Trading Days immediately preceding the applicable Draw Down Date, multiplied by the Average Daily Trading Volume of the Common Stock applicable with respect to such Draw Down Date shall exceed $1,250,000 and (ii) 10% of the product of (x) the average VWAP for the Common Stock for each of the five Trading Days immediately preceding the applicable Draw Down Date, multiplied by (y) the Average Daily Trading Volume of the Common Stock applicable with respect to such Draw Down Date.
Maximum Draw Down Amount means 4.5% of the Company's Market Capitalization (as defined and calculated in accordance with Annex A) at the time of the Draw Down; provided, however, that such amount shall not exceed $7.5 million in respect of any Draw Down.
Maximum Draw Down Amount means 2.5% of the Company's Market Capitalization (as defined and calculated in accordance with Annex A) at the time of the Draw Down; PROVIDED, HOWEVER, that such amount shall not exceed $5 million in respect of any Draw Down.
Maximum Draw Down Amount means the maximum dollar amount the Underwriter may sell, as the Company's Underwriter, on a best efforts basis, of shares of Common Stock pursuant to a Capital Demand Notice, which number shall be equal to 110% of the Minimum Draw Down Amount specified in such Capital Demand Notice.
Maximum Draw Down Amount means 3% of the Company’s Market Capitalization at the time of the Draw Down.
Maximum Draw Down Amount means, as of the date of determination, the lesser of (i) the portion of the Commitment Amount outstanding as of such date of determination and (ii) $30,000,000.
Maximum Draw Down Amount means: (i) in respect of the first Draw Down after the date hereof, 4.0% of the Company’s Market Capitalization at the time of such Draw Down; (ii) in respect of not more than one Draw Down per calendar quarter beginning on February 1, 2010, 3.0% of the Company’s Market Capitalization at the time of such Draw Down and (iii) in respect of all other Draw Downs after the date hereof, 2.0% of the Company’s Market Capitalization at the time of such Draw Down.