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 the last reported sale price, or, in case no such reported sale takes place on such day, the average of the last reported bid prices for the last three trading days, in either case as officially reported by the Nasdaq SmallCap Market or the principal securities exchange on which the Common Stock is listed or admitted to trading or by the Nasdaq National Market (collectively, "NASDAQ"), or, if the Common Stock is not quoted by the Nasdaq SmallCap Market listed or admitted to trading on any national securities exchange or quoted by NASDAQ, the average closing bid price as furnished by the NASD or similar organization, or if the Common Stock is not quoted on the Nasdaq SmallCap Market, as determined in good faith by resolution of the Board of Directors of the Company, based on the best information available to it.

Definition of Market Price. As used herein, the phrase "Market Price" at any date shall be deemed to be the last reported sale price, or, in case no such reported sale takes place on such day, the average of the last reported bid prices for the last three trading days, in either case as officially reported by the Nasdaq SmallCap Small Cap Market or the principal securities exchange on which the Common Stock is listed or admitted to trading or by the Nasdaq National Market (collectively, "NASDAQ"), or, if the Common Stock is not quoted by the Nasdaq SmallCap Small Cap Market listed or admitted to trading on any national securities exchange or quoted by NASDAQ, the average closing bid price as furnished by the NASD or similar organization, or if the Common Stock is not quoted on the Nasdaq SmallCap Small Cap Market, as determined in good faith by resolution of the Board of Directors of the Company, based on the best information available to it.