Closing Bid Price. For purposes of this Agreement, "Closing Bid ----------------- Price" means, for any security as of any particular date (a) the closing bid price of such security on such date on the Nasdaq Small Cap Market or on the Subsequent Market on which such security is then listed or quoted, or if there is no such price on such date, then the closing bid price on the Nasdaq Small Stock Market or on such Subsequent Market on the date nearest preceding such date, or (b) if such security is not then listed or quoted on the Nasdaq Small Cap Market or on a Subsequent Market, the closing bid price for such security in the over-the-counter market, as reported by the National Quotation Bureau Incorporated or similar organization or agency succeeding to its functions of reporting prices) at the close of business on such date, or (c) if such security is not then reported by the National Quotation Bureau Incorporated (or similar organization or agency succeeding to its functions of reporting prices), then the average of the "Pink Sheet" quotes for the relevant period, as determined in good faith by the holder of the securities making such determination, or (d) if such security is not then publicly traded the fair market value of a unit of such security as determined by an appraiser selected in good faith by the holders of a majority of the Common Shares.
Closing Bid Price. For purposes of this Agreement, "CLOSING BID PRICE" means, for any security as of any date, the last closing bid price for such security on The Nasdaq SmallCap Market as reported by Bloomberg Financial Markets ("BLOOMBERG"), or, if The Nasdaq SmallCap Market is not the principal trading market for such security, the last closing bid price of such security on a Subsequent Market (as defined below) on which such security is listed or traded as reported by Bloomberg, or if the foregoing do not apply, the last closing bid price of such security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg, or, if no closing bid price is reported for such security by Bloomberg, the last closing trade price of such security as reported by Bloomberg, or, if no last closing trade price is reported for such security by Bloomberg, the average of the bid prices of any market makers for such security as reported in the "pink sheets" by the National Quotation Bureau, Inc. If the Closing Bid Price cannot be calculated for such security on such date on any of the foregoing bases, the Closing Bid Price of such security on such date shall be the fair market value as mutually determined by the Company and the holders of a majority of the outstanding Common Shares and Repricing Rights (on an as exercised basis), including for purposes of this determination any Common Shares and Repricing Rights (on an as exercised basis) with respect to which the Purchase Price is being determined. If the Company and the holders of Common Shares and Repricing Rights are unable to agree upon the fair market value of the Common Stock, then such dispute shall be resolved pursuant to Section 5(c)(iii) with the term "Closing Bid Price" being substituted for the term "Market Price." (All such determinations to be appropriately adjusted for any stock dividend, stock split or other similar transaction during such period).
Closing Bid Price. The closing bid price of the Company's Common Stock shall be equal to or greater than $13.00 per share on the Second Closing Date, subject to adjustment for any stock splits or other similar transactions.
Closing Bid Price. At any time after August 14, 1997, if at the time of conversion the average Closing Bid Price (as hereinafter defined) of the Class A Common Stock of the Corporation for the immediately preceding twenty (20) consecutive trading days (the "Twenty-Day Average") is below the Series A Applicable Conversion Value then in effect, then the Series A Applicable Conversion Value relevant only for the shares of Series A Preferred Stock being then converted shall automatically be adjusted immediately prior to conversion to equal 83.33% of the Twenty-Day Average. The preceding adjustment to the Series A Applicable Conversion Value relevant to the shares being then converted shall not adjust or otherwise effect the Series A Applicable Conversion Value of the remaining outstanding shares of Series A Preferred Stock.
Closing Bid Price. The closing bid price for the Common ----------------- Stock on the Nasdaq SmallCap Market or Nasdaq National Market or such other stock exchange on which 40 the Common Stock shall then be listed has not averaged less than $4.25 per share for the twenty (20) Trading Days immediately preceding each of the Second Tranche Closing Date and the Third Tranche Closing Date, as applicable; and the average daily dollar volume of the Common Stock on the Nasdaq SmallCap Market or Nasdaq National Market or such other stock exchange on which the Common Stock shall then be listed shall be at least $125,000 per day for the twenty (20) Trading Days immediately preceding each of the Second Tranche Closing Date and the Third Tranche Closing Date, as applicable;
Closing Bid Price. All references to the closing bid price of the Common Stock shall be as reported by Bloomberg, L.P.
Closing Bid Price. The Common Stock shall have sustained a Closing Bid Price of greater than one $1.50 per share for each of the five (5) trading days immediately preceding the Closing Date.
