Common use of Average Closing Price Clause in Contracts

Average Closing Price. Average Closing Price" shall mean the average --------------------- of the daily closing prices for a share of the Company's common stock, for the twenty (20) trading days preceding the Change of Control Date, on the Composite Tape for the New York Stock Exchange -- Listed Stocks, or, if the common stock is not listed on such Exchange, on the principal United States securities exchange registered under the Securities Exchange Act of 1934, as amended, on which the common stock is listed, or, if the common stock is not listed on any such Exchange, the average of the daily closing bid quotations with respect to a share of the common stock for such twenty (20) trading days on the National Association of Securities Dealers, Inc. Automated Quotations Systems or any system then in use.