Common use of Market Price Clause in Contracts

Market Price. The "Warrant Value" of the portion of the Purchase Option being surrendered shall equal the remainder derived from subtracting (a) the Exercise Price multiplied by the number of Warrants being surrendered from (b) the Market Price of the Warrants multiplied by the number of Warrants being surrendered. As used herein, the term "Market Price" at any date shall be deemed to be the average last reported sale price of the Warrants for the five days immediately preceding such date, as officially reported by the principal securities exchange on which the Warrants are listed or admitted to trading, or, if the Warrants are not listed or admitted to trading on any national securities exchange or if any such exchange on which the Warrants are listed is not its principal trading market, the last reported sale price as furnished by the NASD through the Nasdaq National Market or SmallCap Market, or, if applicable, the OTC Bulletin Board, or if the Warrants are not listed or admitted to trading on any of the foregoing markets, or similar organization, as determined in good faith by resolution of the Board of Directors of the Company, based on the best information available to it.

Market Price. The "Warrant Stock Value" of the portion of the Purchase Option being surrendered shall equal the remainder derived from subtracting (a) the Exercise Price multiplied by the number of Warrants shares of Common Stock being surrendered from (b) the Market Price of the Warrants Common Stock multiplied by the number of Warrants shares of Common Stock being surrendered. As used herein, the term "Market Price" at any date shall be deemed to be the average last reported sale price of the Warrants Common Stock for the five days immediately preceding such date, as officially reported by the principal securities exchange on which the Warrants are Common Stock is listed or admitted to trading, or, if the Warrants are Common Stock is not listed or admitted to trading on any national securities exchange or if any such exchange on which the Warrants are Common Stock is listed is not its principal trading market, the last reported sale price as furnished by the NASD through the Nasdaq National Market or SmallCap Market, or, if applicable, the OTC Bulletin Board, or if the Warrants are Common Stock is not listed or admitted to trading on any of the foregoing markets, or similar organization, as determined in good faith by resolution of the Board of Directors of the Company, based on the best information available to it.

Market Price. The "Warrant Stock Value" of the portion of the Purchase Option being surrendered shall equal the remainder derived from subtracting (a) the Exercise Price multiplied by the number of Warrants shares of Common Stock being surrendered from (b) the Market Price of the Warrants Common Stock multiplied by the number of Warrants shares of Common Stock being surrendered. As used hereinin this paragraph, the term "Market Price" at any date shall be deemed to be the average last reported sale price of the Warrants Common Stock for the five days immediately preceding such date, as officially reported by the principal securities exchange on which the Warrants are Common Stock is listed or admitted to trading, or, if the Warrants are Common Stock is not listed or admitted to trading on any national securities exchange or if any such exchange on which the Warrants are Common Stock is listed is not its principal trading market, the last reported sale price as furnished by the NASD through the Nasdaq National Market or SmallCap Market, or, if applicable, the OTC Bulletin Board, or if the Warrants are Common Stock is not listed or admitted to trading on any of the foregoing markets, or similar organization, as determined in good faith by resolution of the Board of Directors of the Company, based on the best information available to it.

Market Price. The "Warrant Value" of the portion of the Purchase Option being surrendered shall equal the remainder derived from subtracting (a) the Exercise Price multiplied by the number of Warrants being surrendered from (b) the Market Price of the Warrants multiplied by the number of Warrants being surrendered. As used hereinin this paragraph, the term "Market Price" at any date shall be deemed to be the average last reported sale price of the Warrants for the five days immediately preceding such date, as officially reported by the principal securities exchange on which the Warrants are listed or admitted to trading, or, if the Warrants are not listed or admitted to trading on any national securities exchange or if any such exchange on which the Warrants are listed is not its principal trading market, the last reported sale price as furnished by the NASD through the Nasdaq National Market or SmallCap Market, or, if applicable, the OTC Bulletin Board, or if the Warrants are not listed or admitted to trading on any of the foregoing markets, or similar organization, as determined in good faith by resolution of the Board of Directors of the Company, based on the best information available to it.

Market Price. The "Warrant Value" of the portion of the Purchase Option being surrendered shall equal the remainder derived from subtracting (a) the Exercise Price multiplied by the number of Warrants being surrendered from (b) the Market Price of the Warrants multiplied by the number of Warrants being surrendered. As used herein, the term phrase "Market Price" at any date shall be deemed to be (i) when referring to the Common Stock, the last reported shale price, or, in case no such reported sale takes place on such day, the average of the last reported sale price of the Warrants prices for the five days immediately preceding such datelast three (3) trading days, in either case as officially reported by the principal securities exchange on which the Warrants are Common Stock is listed or admitted to tradingtrading or by the Nasdaq SmallCap Market ("Nasdaq SmallCap") or by the National Association of Securities Dealers Automated Quotation System ("Nasdaq"), or, if the Warrants are Common Stock is not listed or admitted to trading on any national securities exchange or if any such exchange on which the Warrants are listed is not its principal trading marketquoted by Nasdaq, the last reported sale average closing bid price as furnished by the NASD National Association of Securities Dealers, Inc. ("NASD") through the Nasdaq National Market or SmallCap Market, or, similar organization if applicable, the OTC Bulletin BoardNasdaq is no longer reporting such information, or if the Warrants are Common Stock is not listed or admitted to trading quoted on any of the foregoing markets, or similar organizationNasdaq, as determined in good faith (using customary valuation methods) by resolution of the members of the Board of Directors of the Company, based on the best information available to itit or (ii) when referring to an Underlying Warrant, the Market Price shall equal the difference between the Market Price of the Common Stock and the Exercise Price of the Underlying Warrant.