Implied Share Price definition
Implied Share Price means, as of any IAAI Dilution Calculation Date, (x) the Implied Value as of such date divided by (y) the Adjusted Fully Diluted KAR Shares as of such date minus the number of IAAI Dilutive Shares in the IAAI Dilution Period ending on such IAAI Dilution Calculation Date.
Implied Share Price means a price per share of Parent Class B Common Stock equal to: (i) if neither the Second Closing nor Third Closing has occurred, $5.9266, (ii) if the Second Closing has occurred, but the Third Closing has not occurred, $5.2962, if the Third Closing has occurred, but the Second Closing has not occurred, $5.5315 and (iv) if both the Second Closing and Third Closing have occurred, $4.9784, in each case, as appropriately adjusted for stock splits, stock dividends and the like.