Trading Volume Tier Daily Sell Order Limits Sample Clauses

Trading Volume Tier Daily Sell Order Limits. Subject to each Stockholder’s adherence to Institutional Trading Parameters as set forth below, if Trading Volume on the applicable Trading Day 1. is less than or equal to 200,000 shares of PubCo Common Stock, then no Stockholder shall sell more than its Ratable Allocation of the number of shares constituting Fifteen percent (15.0%) of Trading Volume on any Trading Day; 2. is greater than 200,000 but less than or equal to 500,000 shares of PubCo Common Stock, then no Stockholder shall sell more than its Ratable Allocation of the number of shares constituting Twenty percent (20.0%) of Trading Volume on any Trading Day; 3. is greater than 500,000 shares of PubCo Common Stock, each Stockholder may sell an unlimited amount of shares (subject to strict adherence to the Institutional Trading Parameters, as defined below) on any Trading Day; provided, however, that at any time on such Trading Day the quoted share price opens at or falls to Eighty-Five percent (85.0%) or less of the Bid price quoted at the close of regular trading hours on the preceding Trading Day (the “Previous Day’s Close”) or, on the first day of trading, below the Bid price quoted at the open of regular trading hours (the “Opening Price”), all sales by such Stockholder in excess of the limits set forth in the preceding clause 1(a)(i)2 shall be temporarily halted until the price stabilizes and returns to above Eighty-Five percent (85.0%) of the Previous Day’s Close or the Opening Price (the “Floor Price Trading Restrictions”), respectively; and 4. where Trading Volume shall mean, with respect to any designated Trading Day, the total number of shares of Pubco Common Stock that are traded on NASDAQ and any other national stock exchange on which said shares are listed during the published pre-market, regular trading hours, and after hours sessions of such exchange(s). Trading Volume includes all executed buy and sell transactions for Pubco Common Stock, as reported by NASDAQ, Bloomberg LP, or any other nationally-recognized institutional quotation service deriving data from NASDAQ and any other national stock exchange on which Pubco Common Stock is listed; and 5. where Trading Day shall mean any calendar day on which NASDAQ and/or any other national stock exchange on which said shares are listed is open; and 6. provided, however, that on any Trading Day each Stockholder may sell a minimum of the greater of (x) 5,000 shares or (y) Five percent (5.0%) of Trading Volume at the prevailing market pric...
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Related to Trading Volume Tier Daily Sell Order Limits

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