Common use of Floor Price Clause in Contracts

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty five percent (25%) below the average of closing trade prices for the five (5) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right and shall be under no obligation to purchase and sell one fifth (1/5th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two (2) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to purchase and sell the Investment Amount under such Put Notice shall terminate on such second Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth (1/5th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 7 contracts

Samples: Equity Purchase Agreement (Attitude Drinks Inc.), Equity Purchase Agreement (BioNeutral Group, Inc), Equity Purchase Agreement (Kenergy Scientific, Inc.)

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Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty to a price equal to seventy five percent (2575%) below of the average of the closing trade prices for the five ten (510) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), then for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 5 contracts

Samples: Equity Purchase Agreement (VNUE, Inc.), Equity Purchase Agreement (VNUE, Inc.), Equity Purchase Agreement (VNUE, Inc.)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more is less than twenty seventy five percent (2575%) below of the average of the closing trade bid prices for the five ten (510) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second third Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 4 contracts

Samples: Equity Purchase Agreement (Momentous Entertainment Group Inc), Equity Purchase Agreement (Xfuels, Inc.), Equity Purchase Agreement (Momentous Entertainment Group Inc)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty five percent (25%) below the average of the closing trade prices for the five ten (510) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second third Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 3 contracts

Samples: Equity Purchase Agreement (Propanc Health Group Corp), Equity Purchase Agreement (PureSafe Water Systems, Inc.), Equity Purchase Agreement (Brazil Gold Corp.)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty five percent (25%) below the average of the closing trade prices for the five ten (5IO) trading days immediately preceding the date of the Company’s 's Put Notice (a "Low Bid Price"), for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5thI/I 0th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days-not necessarily consecutive-then the balance of each party’s 's right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second third Trading Day ("Termination Day"), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5thI/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 2 contracts

Samples: Equity Purchase Agreement (Oxford City Football Club, Inc.), Equity Purchase Agreement (Media Assets Group, Inc.)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty five percent (25%) below the average of the closing trade prices for the five ten (510) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to purchase and sell the Investment Amount under such Put Notice shall terminate on such second third Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 2 contracts

Samples: Equity Purchase Agreement (Competitive Technologies Inc), Equity Purchase Agreement (Competitive Technologies Inc)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty five percent (2520%) below the average of the closing trade prices for the five ten (510) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second third Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 2 contracts

Samples: Equity Purchase Agreement (Andalay Solar, Inc.), Equity Purchase Agreement (Andalay Solar, Inc.)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty five percent (25%) below the average of closing trade prices the Closing Prices for the five ten (510) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Closing Price”), for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Closing Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second third Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Closing Price equals or exceeds the Low Bid Closing Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (Andalay Solar, Inc.)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty five percent (2520%) below the average of closing trade prices for the five (5) trading days immediately preceding the date of the Company’s 's Put Notice (a "Low Bid Price"), for each such Trading Day, the parties shall have no right and shall be under no obligation to purchase and sell one fifth (1/5th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two (2) Trading Days--not necessarily consecutive--then the balance of each party’s 's right and obligation to purchase and sell the Investment Amount under such Put Notice shall terminate on such second Trading Day ("Termination Day"), and the Investment Amount shall be adjusted to include only one-fifth (1/5th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Closing Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (Stevia Corp)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more is less than twenty seventy five percent (2575%) below of the average of the closing trade bid prices for the five ten (510) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5thl/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second third Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5thl/l0,h) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Closing Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (2050 Motors, Inc.)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty to a price equal to seventy five percent (2575%) below of the average of the closing trade prices for the five ten (510) trading days immediately preceding the date of the Company’s 's Put Notice (a "Low Bid Price"), then for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s 's right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second Trading Day ("Termination Day"), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (Elite Data Services, Inc.)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty five percent (2520%) below the average of the closing trade prices for the five ten (510) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right and shall be under no obligation to purchase and sell one fifth (1/5th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two (2) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to purchase and sell the Investment Amount under such Put Notice shall terminate on such second Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth (1/5th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (Genufood Energy Enzymes Corp.)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty below seventy five percent (2575%) below of the average of the closing trade bid prices for the five ten (510) trading days immediately preceding the date of the Company’s 's Put Notice (a "Low Bid Price"), then for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s 's right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second Trading Day ("Termination Day"), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (EMAV Holdings, Inc.)

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Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty five to a price equal to eighty percent (2580%) below of the average of the closing trade prices for the five ten (510) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), then for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two (2) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (Sangui Biotech International Inc)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more is less than twenty five eighty percent (2580%) below of the average of closing trade prices the Closing Prices for the five (5) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second third Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Closing Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (Quanta Inc)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more is less than twenty seventy five percent (2575%) below of the average of closing trade prices the Closing Prices for the five ten (510) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second third Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Closing Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (Wikisoft Corp.)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty five percent (2520%) below the average of closing trade prices for the five (5) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right and shall be under no obligation to purchase and sell one fifth (1/5th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two (2) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to purchase and sell the Investment Amount under such Put Notice shall terminate on such second Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth (1/5th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (Net Savings Link, Inc.)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more than twenty to a price equal to seventy five percent (2575%) below of the average of the closing trade bid prices for the five ten (510) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), then for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth tenth (1/5th1/10th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth tenth (1/5th1/10th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (AuraSource, Inc.)

Floor Price. In the event that, during a Valuation Period, the Closing Bid Price on any Trading Day falls more than twenty five percent (25%) below the average of closing trade prices for price on the five (5) trading days day immediately preceding prior to the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right and shall be under no obligation to purchase and sell one fifth (1/5th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two (2) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to purchase and sell the Investment Amount under such Put Notice shall terminate on such second Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth (1/5th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (Data Storage Corp)

Floor Price. In the event that, during a Valuation Period, the Closing Price on any Trading Day falls more is less than twenty five eighty percent (2580%) below of the average of closing trade prices the Closing Prices for the five (5) trading days immediately preceding the date of the Company’s Put Notice (a “Low Bid Price”), for each such Trading Day, the parties shall have no right to sell and shall be under no obligation to purchase and sell one fifth (1/5th) of the Investment Amount specified in the Put Notice, and the Investment Amount shall accordingly be deemed reduced by such amount. In the event that during a Valuation Period there exists a Low Bid Price for any two three (23) Trading Days—not necessarily consecutive—then the balance of each party’s right and obligation to sell and purchase and sell the Investment Amount under such Put Notice shall terminate on such second third Trading Day (“Termination Day”), and the Investment Amount shall be adjusted to include only one-fifth (1/5th) of the initial Investment Amount for each Trading Day during the Valuation Period prior to the Termination Day that the Bid Closing Price equals or exceeds the Low Bid Price.

Appears in 1 contract

Samples: Equity Purchase Agreement (Innerscope Hearing Technologies, Inc.)

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