Proportional Increase definition
Proportional Increase means an amount equal to the percentage increase of shares held by such holders of preferred stock (calculated on an as if converted to common basis) following the issuance of Additional Stock. Fair market value shall be the lesser of (i) the closing price of the company’s common stock on the Nasdaq stock market (or such other exchange or listing service on which the company’s common stock is quoted), and (ii) any trailing average of the closing price of the company’s common stock up to 20 trading days. Registration Rights: None. Warrant Purchase Agreement: The Company and each Holder shall execute, in PfG’s discretion, either a Warrant Purchase Agreement and Warrant, or an all-inclusive Warrant. In either case, the Warrant documentation shall contain, among other things, customary representations and warranties by the Company, covenants of the Company (including without limitation, the giving of notices and the duty to make fair adjustments) reflecting the provisions set forth herein, securities compliance representations by PfG and appropriate conditions to closing.
Examples of Proportional Increase in a sentence
The 1998-C Securitization Trustee shall pay the Class A-1 Certificateholders, Class A-2 Certificateholders and/or Class A-3 Certificateholders, as the case may be, such amounts increased in proportion to the calculation of Proportional Increase in Section 3.01(a)(iv) above.