First Put Limit definition
First Put Limit shall have the meaning set forth in Section 2.3.1(b).
First Put Limit means a number of Put Shares equal to the lesser of (i) 17.5% of the sum of the aggregate daily reported trading volumes in the outstanding Common Stock on the Company's Principal Market, excluding any block trades which exceed "X" shares of Common Stock made by persons other than the Investor or any affiliates of the Investor, for all Evaluation Days (as defined in Section 2.3.7(b) below) in the First Pricing Period (this limitation is referred to herein as the "First Volume Limitation"), where "X" shall equal the lesser of (x) 100,001 shares or (y) 25% of that day's trading volume, (ii) the Intended Put Share Amount, and (iii) the number of Put Shares which, when multiplied by their respective Put Share Prices, equals the Maximum Put Dollar Amount. The "Second Put Limit" shall mean a number of Put Shares equal to the lesser of (i) 17.5% of the sum of the aggregate daily reported trading volumes in the outstanding Common Stock on the Company's Principal Market, excluding any block trades which exceed "X" (as defined above) shares of Common Stock made by persons other than the Investor or any affiliates of the Investor, for all Evaluation Days (as defined in Section 2.3.7(b) below) in the Second Pricing Period (this limitation is referred to herein as the "Second Volume Limitation," which, together with the First Volume Limitation is referred to as the Volume Limitations), (ii) the difference of the Intended Put Share Amount minus the First Put Limit, and (iii) the number of Put Shares which, when multiplied by their respective Put Share Prices, and added to the First Put Limit, equals the Maximum Put Dollar Amount. Company agrees not to trade Common Stock or arrange for Common Stock to be traded for the purpose of artificially increasing the Volume Limitations. Notwithstanding the above, in no event shall the sum of the First Put Limit and the Second Put Limit exceed 17.5% of the sum of the aggregate daily reported trading volumes in the outstanding Common Stock on the Company's Principal Market, excluding any block trades which exceed "X" (as defined above) shares of Common Stock made by persons other than the Investor or any affiliates of the Investor, for the twenty (20) Trading Days immediately preceding the Put Date (this limitation, together with the limitation in (i) immediately above, are collectively referred to herein as the "Volume Limitations"). In the event of any future change in the Nasdaq's "double counting" rules, the 17.5% percentage of ...
First Put Limit means the sum of the Daily Accrued Amounts from each Evaluation Day in the First Pricing Period. In the event that the First Put Limit exceeds the number of Remaining Registered Put Shares (as defined below) under the effective Equity Line Registration Statement (as defined below), then the difference between the First Put Limit and the number of Remaining Registered Put Shares shall be issued to Swa▇▇▇ ▇▇ restricted shares (the "Restricted Shares"). Any such Restricted Shares issued to Swa▇▇▇ ▇▇all have "piggyback" registration rights with regard to the next registration statement filed by the Company.
Examples of First Put Limit in a sentence
The "Individual Put Limit" is the number of shares of Common Stock that the Investor shall be obligated to purchase in a given Put, and shall equal the sum of the First Put Limit and the Second Put Limit for that Put, but shall not exceed 9.9% of the total amount of the Company's Common Stock that would be outstanding upon completion of the Put.
With respect to each Put, the Put Share Price for a number of Put Shares equal to the First Put Limit for that Put shall be determined on the First Pricing Date, and the Put Share Price for a number of Put Shares equal to the Second Put Limit for that Put shall be determined on the Second Pricing Date.
The "Individual Put Limit" is the number of shares of Common Stock that the Investor shall be obligated to purchase in a given Put, and shall equal the sum of the First Put Limit and the Second Put Limit for that Put, subject to the further limitations set forth in this subsection (b).
More Definitions of First Put Limit
First Put Limit means a number of Put Shares equal to the lesser of (i) 20% of the sum of the aggregate daily reported Trading Volumes in the outstanding Common Stock on the Company's Principal Market, excluding any block trades which exceed "X" shares of Common Stock made by persons other than the Investor or any affiliates of the Investor, for all Evaluation Days (as defined in Section 2.3.1(b) below) in the First Pricing Period (this limitation is referred to herein as the "First Volume Limitation"), where "X" shall equal the lesser of (x) 100,001 shares or (y) 25% of that day's Trading Volume, (ii) the Intended Put Share Amount, and (iii) the number of Put Shares which, when multiplied by their respective Put Share Prices, equals the Maximum Put Dollar Amount.
First Put Limit means a number of Put Shares equal to the lesser of (i) 20% of the sum of the aggregate daily reported Trading Volumes in the outstanding Common Stock on the Company's Principal Market, excluding any block trades which exceed "X" shares of Common Stock made by persons other than