Common use of Minimum Acceptable Price Clause in Contracts

Minimum Acceptable Price. (i) With respect to each Advance Notice selecting an Option 2 Pricing Period, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during an Option 2 Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Ordinary Shares is below the MAP in effect with respect to such Advance Notice, (B) there is no VWAP or (C) the VWAP of the Ordinary Shares is such that the Purchase Price would be below the nominal value of one Ordinary Share (each such day, an “Excluded Day”), shall result in an automatic reduction to the number of Advance Shares set forth in such Advance Notice by one-third (the resulting amount of each Advance being the “Adjusted Advance Amount”), and each Excluded Day shall be excluded from the Option 2 Pricing Period for purposes of determining the Market Price.

Appears in 2 contracts

Samples: Equity Purchase Agreement (Lilium N.V.), Equity Purchase Agreement (Lilium N.V.)

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Minimum Acceptable Price. (i) With respect to each Advance Notice selecting an Option 2 Pricing PeriodNotice, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during an Option 2 a Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Ordinary Common Shares is below the MAP Minimum Acceptable Price in effect with respect to such Advance Notice, or (B) there is no VWAP or (C) the VWAP of the Ordinary Shares is such that the Purchase Price would be below the nominal value of one Ordinary Share (each such day, an “Excluded Day”), shall result in an automatic reduction to the number amount of the Advance Shares set forth in such Advance Notice by one-third (y) 50% if the applicable Advance Notice specifies a Pricing Period of 2 consecutive Trading Days or by (z) 20% if the applicable Advance Notice specifies a Pricing Period of 5 consecutive Trading Days (the resulting amount of each Advance being the “Adjusted Advance AmountShares”), and each Excluded Day shall be excluded from the Option 2 Pricing Period for purposes of determining the Market PriceMarket.

Appears in 1 contract

Samples: Equity Distribution Agreement (Ashford Hospitality Trust Inc)

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Minimum Acceptable Price. (i) With respect to each Advance Notice selecting with an Option 2 1 Pricing Period, the Company may notify the Investor of the MAP with respect to such Advance by indicating a MAP on such Advance Notice. If no MAP is specified in an Advance Notice, then no MAP shall be in effect in connection with such Advance. Each Trading Day during an the Option 2 1 Pricing Period for which (A) with respect to each Advance Notice with a MAP, the VWAP of the Ordinary Shares is below the MAP in effect with respect to such Advance Notice, (Bb) the VWAP is below the par value of the Ordinary Shares divided by 92%, or (C) there is no VWAP or (C) the VWAP of the Ordinary Shares is such that the Purchase Price would be below the nominal value of one Ordinary Share (each such day, an “Excluded Day”), shall result in an automatic reduction to the number of Advance Shares set forth in such Advance Notice by one-third (the resulting amount of each Advance being the “Adjusted Advance Amount”), and each Excluded Day shall be excluded from the Option 2 1 Pricing Period for purposes of determining the Market Price.

Appears in 1 contract

Samples: Advance Agreement (Mainz Biomed N.V.)

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