Applicable Share Price definition

Applicable Share Price means the average closing sale price of Employer’s common stock, as reported by the OTC Bulletin Board, for the three trading days immediately preceding the 15th day of each month.

Applicable Share Price means the average of (1) the average high daily trading price for each trading day during the last month of the applicable calendar quarter and (2) the average low daily trading price for each trading day during the last month of the applicable calendar quarter; provided, however, that Applicable Share Price in the event of a Liquidation Event shall be based on the applicable transaction price.

Applicable Share Price means the average closing sale price of the shares of the Company for the ten trading days immediately preceding a Transfer Event.

Examples of Applicable Share Price in a sentence

• By way of example only, if Employee’s accrued and unpaid salary totals $5,000 and the Applicable Share Price is $.05, Employer would issue 100,000 shares of its common stock to Employee ($5,000 divided by $.05 equals 100,000 shares).

• Each Salary Conversion Notice shall set forth (1) the amount of accrued and unpaid salary to be converted into shares of Employer’s common stock and (2) the number of shares of Employer’s common stock which are to be issued to Employee based on the following formula: Amount of accrued and unpaid salary from the immediately preceding month divided by the Applicable Share Price (defined below) equals the number of shares to be issued to Employee.

• Each Salary Conversion Notice shall set forth (1) the amount of accrued and unpaid salary to be converted into shares of Employer’s common stock and (2) the number of shares of Employer’s common stock which are to be issued to Employee based on the following formula: Amount of accrued and unpaid salary from the immediately preceding calendar quarter divided by the Applicable Share Price (defined below) equals the number of shares to be issued to Employee.

• By way of example only, if Employee’s accrued and unpaid salary totals $1,000 and the Applicable Share Price is $.05, Employer would issue 20,000 shares of its common stock to Employee ($1,000 divided by $.05 equals 20,000 shares).

• The Applicable Share Price for purposes of calculating any amounts payable pursuant to the Applicable Premium or Strategic Make-Whole shall be appropriately adjusted in respect of any of the events referred to in this Article V to the extent necessary to effect and protect the intended economic benefits thereof.

More Definitions of Applicable Share Price

Applicable Share Price means, (1) in the case of any conversion other than during a Redemption Period, the greater of (x) the Minimum Price and (y) the simple average of the Daily VWAP for the 10 consecutive Trading Days ending on and including the Trading Day immediately preceding the applicable Conversion Date and (2) in the case of a conversion with a Conversion Date during a Redemption Period, the greater of (x) the Minimum Price and (y) the simple average of the Daily VWAP for the 10 consecutive Trading Days ending on and including the Trading Day immediately preceding the Redemption Notice Date, in each case subject to adjustment pursuant to Section 5.05(A)(vi).

Applicable Share Price means the lower of the average closing sale price of the Employer’s common stock, as reported by the NASDAQ, for the last three (3) trading days of the subject calendar quarter (the “ACSP”), provided however, that if the Company shall have raised money in a Regulation D disclosed offering to third party accredited investors at a lower rate than the ACSP, then the Applicable Share Price shall be at the lower price declared in the Regulation D filing as at the calendar quarter close. Executive shall be entitled to incentive bonuses in common shares or cash when granted by the compensation committee of the Board of Directors, or if such committee is not then formed, by the Board of Directors.

Applicable Share Price for the Shares would be the average trading price of CTI’s common stock during the thirty (30) Trading Days immediately preceding the effective date of the Divestiture Event triggering the Termination Payment. In addition, the Shares shall be subject to the terms set forth in the Registration Rights Agreement. The Shares, if and when issued, shall be duly authorized, duly and validly issued and outstanding, fully paid and nonassessable, and free from taxes, liens or charges. If the triggering event for the Termination Payment under this subsection is a Change of Control and, as a result of such Change of Control, CTI’s common stock is no longer publicly traded, then CTI shall not have the ability to make payment of the Elective Portion in stock, and the Elective Portion shall instead be paid via a wire transfer in immediately available funds. “Trading Day” shall mean a day on which trading of the common stock of CTI occurs on the Nasdaq Stock Market or such other national stock exchange or over-the-counter trading market on which CTI’s common stock is then listed for trading. Further, in the event a Divestiture Event occurs during Calendar Year 2005, the cash portion of the Termination Payment shall be placed, as of the effective of the Divestiture Event, in an interest-bearing deposit account with a bank located in the United States designated by PharmaBio and reasonably acceptable to CTI pursuant an escrow agreement mutually acceptable to CTI and PharmaBio, and on December 31, 2005 the principal thereof shall be paid to PharmaBio and any interest shall be paid to CTI (or its designee). The only condition to the payment of such principal and interest under the escrow agreement shall be the arrival of December 31, 2005. For clarity, PharmaBio’s security interest in and to the Collateral shall be terminated as of the placement of the Termination Payment into such escrow under the conditions described in the immediately prior sentence.

Applicable Share Price has the meaning specified in Section 15.01(a)(iii).

Applicable Share Price means, with respect to a fiscal year the average of the VWAP for each trading day of such fiscal year.

Applicable Share Price means the closing price of a Share on the NYSE as of the close of regular trading on the last trading day prior to the Closing Date.

Applicable Share Price means the average closing price of the Common Shares during the thirty trading days ending on the last trading day prior to the Closing Date.