Milestone Price definition

Milestone Price means the Initial Market Price; provided, however, that if the VWAP over the five full Trading Days immediately following the Public Announcement is not at or above the Threshold Price, then the Milestone Price shall mean the Alternative Milestone Price; provided further, that each Purchaser may deem the Milestone Price to be the Initial Market Price in its sole discretion.

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Milestone Price means an amount equal to the average closing price of common stock of the Buyer on NASDAQ (as reported by Bloomberg L.P. or in another authoritative source mutually selected by the Buyer and the Company) for the period consisting of the five consecutive trading days ending with the complete trading day ending on the second Business Day prior to the Milestone being achieved.

Milestone Price means the fair market value --------------- of the New Preferred Stock immediately following the Milestone Event as determined in good faith by the Board of Directors of the Company, provided that in no event will the Milestone Price be less than the price per share of the Preferred Stock issued (other than pursuant to a Non-Investor Issuance (as defined below) and as adjusted for stock splits, stock dividends and other similar transactions) immediately prior to the Milestone Event; and (iii) "New --- Preferred Stock" shall mean Series F Convertible Preferred Stock or, at the --------------- election of the Company, a new series of Preferred Stock containing rights, preferences and privileges which are substantially the same as those of the Series F Convertible Preferred Stock, except that the New Preferred Stock will not include a warrant to purchase shares of capital stock of the Company or any additional rights. In the event that the Milestone Price as calculated pursuant to this clause (b) is greater than the price per share of capital stock (the "Next Price") paid in the first issuance of capital stock by the Company (other than pursuant to a Non-Investor Issuance) immediately following the Milestone Event (either pursuant to a preferred stock offering or an Initial Public Offering, with such Next Price to be adjusted for stock splits, stock dividends or other similar transactions) (the "Subsequent Issuance"), then Purchaser shall be entitled to receive an additional amount of shares of New Preferred Stock at the time of the Subsequent Issuance equal to (x) minus (y), where (x) equals $500,000 divided by the Next Price and (y) equals the Milestone Shares. In the event that the Subsequent Issuance is a Qualified Public Offering (as defined in paragraph 6(O) of the Charter), the Company may, at its election, substitute shares of Common Stock for shares of New Preferred Stock due under this clause (b), with such substituted number of shares of Common Stock to be calculated on the same basis as set forth in paragraph 6 of the Charter.

Examples of Milestone Price in a sentence

• In the event that the Milestone Price is the Alternative Milestone Price, the Stockholder Approval shall have been obtained on or before March 31, 2020.

• Notwithstanding anything to the contrary contained in this Section 4.8, the Company shall have no obligation to solicit or obtain the Stockholder Approval if the Milestone Price is determined to be the Initial Closing Price rather than the Alternative Milestone Price, and the Company shall have no obligation to solicit or obtain the Stockholder Approval after March 31, 2020.

• Notwithstanding any other provision of this Agreement, if the Alternative Milestone Price is less than $0.50 per share (as adjusted for any stock splits or combinations occurring after the date of this Agreement), then the Milestone Closing will not occur and no party to this Agreement will have any right or obligation to sell, issue or purchase the Milestone Securities.

• In the event the Milestone Price is the Alternative Milestone Price, the Company shall have filed the Class A-2 Certificate of Designation with the Secretary of State of the State of Delaware prior to the Milestone Closing.

• In such event, Purchaser may elect to purchase up to that number of Milestone Shares equal to 19.99% of the total number of shares of Common Stock so outstanding at the Milestone Price.

• The measurement and value of such completed Work shall be determined in accordance with the Milestone Price Schedule, attached hereto as Schedule C2, together with such supporting evidence as may be required by the Owner.

• The total amount of such Milestone Payment deposited shall not exceed the amount of the then pending claims, with the Radiance Common Stock valued at the applicable Average Milestone Price as specified in Section 2.1(b)(iv).

• If any Average Milestone Price is less than Five Dollars ($5.00), CVD, at its option, subject to Section 2.1(d), may pay up to thirty percent (30%) of such Milestone Payment in cash, which cash shall be allocated in accordance with Section 2.1(c); provided, however, that Milestone Payments with respect to Radiance Common Stock and Radiance Options outstanding immediately prior to the Effective Time shall be made only in shares of CVD Common Stock.

• The measurement and value of such completed Work shall be determined in accordance with the Milestone Price Schedule, together with such supporting evidence as may be required by the Owner.

• The Company shall have received payment, by check or wire transfer of immediately available funds, in the full amount of (a) the Purchase Price for the Initial Shares being purchased by the Purchaser at the Initial Closing, or (b) the Milestone Price for the Milestone Shares being purchased by the Purchaser at the Milestone Closing.

More Definitions of Milestone Price

Milestone Price means an amount equal to the average closing price of common stock of the Buyer on NASDAQ (as reported by Bloomberg