Reset Price. The Reset Price will initially be the Initial Price and subject to a $7.00 floor (the “Reset Price Floor”). The Reset Price will be subject to reset on a monthly basis (each a “Reset Date”), with the first such Reset Date occurring 90 days after the Closing Date, to be the lowest of (a) the then-current Reset Price, (b) the Initial Price and (c) the 30-day VWAP Price of the Shares immediately preceding such Reset Date; provided that the Reset Price will also be reduced upon a Dilutive Offering Reset immediately upon the occurrence of such Dilutive Offering, which would eliminate the Reset Price Floor.
Reset Price. The Reset Price for each sale pursuant to Section 4(c) immediately following the BC Closing, the Reset Price shall initially equal $8.00. The Reset Price shall be adjusted first on the one month anniversary of the BC Closing, and then every three month anniversary of the most recent reset date (each such date, a “Reset Date”) to be the lowest of (a) the then-current Reset Price, (b) $8.00 and (c) an amount equal to the product of (i) 1.05 multiplied by (ii) the VWAP Price of the last five (5) trading days immediately preceding the applicable Reset Date, but not lower than $2.00; provided, however, that if WAV or the Company offers and sells or issues any shares or debt or securities that are convertible into or exchangeable or exercisable for shares (including, but not limited to, any equity line of credit or similar facility determined based on the per share price of any draw by WAV on such facility (with notice of any such draw to be provided to Investor within one (1) business day of such draw), and excluding securities issued or issuable as merger consideration in connection with the Business Combination Agreement, with such exclusion applicable only to the extent the terms and related agreements are not amended with respect to such securities), at a price lower than, or upon any conversion or exchange or exercise price of currently outstanding or future issuances of any securities convertible or exchangeable or exercisable for shares (other than any incentive equity outstanding immediately following the closing of the Business Combination, with such exclusion applicable only to the extent the terms and related agreements are not amended with respect to such securities) being equal to a price lower than, the then-current Reset Price (the “Offering Price”), then immediately after such event, the Reset Price shall be further reduced to equal the Offering Price.
Reset Price. The Reset Price will initially be the Initial Price; provided that the Reset Price will be reduced upon a Dilutive Offering Reset immediately upon the occurrence of such Dilutive Offering.
Reset Price. The Reset Price will initially be the Initial Price. The Reset Price will be subject to reset on a monthly basis (each a “Reset Date”), with the first such Reset Date occurring 180 days after the Closing Date, to be the lowest of (a) the then-current Reset Price, (b) the Initial Price and (c) the 30-day VWAP Price of the Shares immediately preceding such Reset Date; provided that the Reset Price will also be reduced upon a Dilutive Offering Reset immediately upon the occurrence of such Dilutive Offering; provided further that except upon the occurrence of a Dilutive Offering, the Reset Price will not be below $5.00 per Share.
Reset Price. The Initial Price, subject to reduction upon mutual agreement of Counterparty and Seller; provided, that the Reset Price will be reduced upon a Dilutive Offering Reset.
Reset Price. The Reset Price will initially be the Initial Price and will not be adjusted prior to the Closing, at which time, upon the conversion of Shares of Preferred Stock to Shares of Common Stock, the Initial Price will be adjusted as set forth in the section entitled “Initial Price.” Following such adjustment of the Initial Price upon the Closing, the Reset Price will be subject to reduction upon a Dilutive Offering Reset immediately upon the occurrence of such Dilutive Offering.
Reset Price. The Reset Price will initially be the Initial Price. The Reset Price will be subject to reset on a bi-weekly basis commencing the first week following the thirtieth day after the closing of the Business Combination to be the lowest of (a) the then-current Reset Price, (b) the Initial Price and (c) the VWAP Price of the Shares of the prior two weeks; provided that the Reset Price will also be reduced upon a Dilutive Offering Reset immediately upon the occurrence of such Dilutive Offering.
Reset Price. $10.00; provided, that the Reset Price will be reduced upon a Dilutive Offering Reset.
Reset Price. The Reset Price will initially be the Initial Price. The Reset Price will be subject to reset prior to the opening of pre-market trading on every other Monday (or the next succeeding trading day if Monday is not a trading day) following the thirtieth day after the closing of the Business Combination. The Reset Price will be equal to the lowest of (a) the then current Reset Price, (b) the Initial Price or (c) the mathematical average of the VWAP Prices of the Shares on each trading day during the period beginning on the prior Reset Date and ending on the trading day prior to the current Reset Date; provided the Reset Price shall not be less than $2.00, except pursuant to reduction upon a Dilutive Offering Reset immediately upon the occurrence of such Dilutive Offering.
Reset Price. For purposes of Section 4(e)(iii), the Reset Price for each sale pursuant to Section 4(c) immediately following the BC Closing, the Reset Price shall initially equal $10.25. The Reset Price shall be adjusted at the open of trading on the first trading day of each week commencing on the first week following the BC Closing to be the lowest of (a) the then-current Reset Price, (b) $10.25 and (c) the VWAP Price of the last ten (10) trading days preceding the first trading day of each week, but not lower than $5.00; provided, however, that if OTEC or the Company offers and sells or issues any shares or debt or securities that are convertible into or exchangeable or exercisable for shares (including, but not limited to, any equity line of credit or similar facility determined based on the per share price of any draw by OTEC on such facility (with notice of any such draw to be provided to Investors within one (1) business day of such draw), and excluding securities issued or issuable as merger consideration in connection with the Business Combination Agreement, with such exclusion applicable only to the extent the terms and related agreements are not amended with respect to such securities), at a price lower than, or upon any conversion or exchange or exercise price of currently outstanding or future issuances of any securities convertible or exchangeable or exercisable for shares (other than any incentive equity outstanding immediately following the closing of the Business Combination, with such exclusion applicable only to the extent the terms and related agreements are not amended with respect to such securities) being equal to a price lower than, the then-current Reset Price (the “Offering Price”), then the Reset Price shall be further reduced to equal the Offering Price.
