SOSC Equity Royalties Sample Clauses

SOSC Equity Royalties. No part of the SOSC Economic Royalties shall be paid in Parent Shares unless the parties to the particular SOSC IUA so agree. If any amount is to be paid in Parent Shares, that portion of the SOSC Economic Royalty so allocated shall be divided by the Price Per Share. For this purpose, "Price Per Share" means the greater of (i) the value per share of Parent Stock as determined by the board of directors of Clearwire Parent from time to time, as in effect on the relevant closing date; or (ii) the price per share of Parent Shares in the then most recently completed funding round of Clearwire in excess of Fifty Million Dollars ($50,000,000), or, if such funding round did not include common stock but did include preferred stock or other convertible securities, the price per share of common stock, based on converting such preferred stock or other convertible securities to common stock pursuant to the applicable conversion rights, provided, however that (x) if the Parent Shares are publicly traded on a national securities exchange or listed in a national automated interdealer quotation system, the Price Per Share will be the average reported closing trading price of the Parent Shares for the twenty trading days immediately prior to the Commencement Date of the related IUA, and (y) any valuation pursuant to clause (b)(ii) above shall be based only upon a transaction that has occurred within 180 days prior to the date of such valuation, and if there has been no such transaction such valuation shall be made in accordance with clause (b)(i) above of clause (x) of this proviso.