Purchase Notice Limit definition

Purchase Notice Limit means for any Purchase Notice the Investor’s committed obligation under each Purchase Notice shall not exceed the Investment Limit; the maximum amount of Purchase Notice Shares the Company may require the Investor to purchase per each Purchase Notice shall be the lesser of: (i) 200% of the Average Daily Trading Volume or (ii) the Investment Limit divided by the highest closing price of the ADSs over the most recent five (5) Business Days including the respective Purchase Notice Date. Notwithstanding the foregoing, the Investor may waive the Purchase Notice Limit at any time to allow the Investor to purchase additional ADSs under a Purchase Notice.

Purchase Notice Limit means for any Purchase Notice: The Investor’s committed obligation under each Purchase Notice shall not exceed the Investment Limit; the maximum amount of Purchase Notice Shares the Company may request the Investor to purchase per each Purchase Notice shall be the lesser of: (i) 200% of the Average Daily Trading Volume or (ii) the then Investment Limit divided by the highest closing price of the Common Stock over the most recent five (5) Business Days including the respective Purchase Notice Date. Notwithstanding the forgoing, the Investor may waive the Purchase Notice Limit at any time to allow the Investor to purchase additional shares under a Purchase Notice. For the purpose of determining the closing price, the parties shall refer to the as reported closing price on Bloomberg.

Purchase Notice Limit means, with respect to a Purchase made pursuant to Section 3.1, a number of shares of Common Stock equal to the lesser of (i) a number of shares of Common Stock which, when aggregated with all other shares of Common Stock then beneficially owned by the Investor and its affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor of more than the Beneficial Ownership Limitation, (ii) a number of shares of Common Stock equal to the product of A) the Average Daily Trading Volume and B) the Percentage Limit, and (iii) number of shares of Common Stock equal to quotient obtained by dividing A) Purchase Limit with B) Closing Sale Price of the Common Stock on the day prior to the Purchase Notice Date.

Examples of Purchase Notice Limit in a sentence

• If the Investor and the Company are unable to promptly resolve such dispute relating to such Average Daily Trading Volume, Purchase Notice Limit or VWAP (as the case may be), at any time after the second (2nd) Business Day following such initial notice by the Company or the Investor (as the case may be) of such dispute to the Company or the Investor (as the case may be), then the Company and the Investor may select an independent, reputable investment bank as mutually agreed upon to resolve such dispute.

• Upon satisfaction of the terms and conditions set forth herein (including, without limitation, the provisions of Article VII), the Company shall have the right, but not the obligation, to require the Investor, by its delivery to the Investor of a Purchase Notice from time to time, to purchase Purchase Notice Shares provided that the amount of Purchase Notice Shares shall not exceed the Purchase Notice Limit, subject to the Beneficial Ownership Limitation set forth in Section 7.2(g).

• No Purchase Notice will be made in an amount less than twenty-five thousand dollars ($25,000) or greater than the Purchase Notice Limit.

• Upon the terms and conditions set forth herein (including, without limitation, the provisions of Article VII), the Company shall have the right, but not the obligation, to direct the Investor, by its delivery to the Investor of a Purchase Notice from time to time, to purchase Purchase Notice Shares provided that the amount of Purchase Notice Shares shall not exceed the Purchase Notice Limit or the Beneficial Ownership Limitation set forth in Section 7.2(h).

• Upon the terms and conditions set forth herein (including, without limitation, the provisions of Article VII), the Company shall have the right, but not the obligation, to require the Investor, by its delivery to the Investor of a Purchase Notice, from time to time, to purchase Purchase Notice Shares provided that the amount of Purchase Notice Shares shall not exceed the Purchase Notice Limit or the Beneficial Ownership Limitation set forth in Section 7.2(g), (each such purchase, a “Closing”).

More Definitions of Purchase Notice Limit

Purchase Notice Limit means the maximum amount of Purchase Notice Shares the Company may request the Investor to purchase per each Purchase Notice shall be the lesser of: (i) 200% of the Average Daily Trading Volume or (ii) the Investment Limit divided by the highest closing price of the Common Stock over the most recent five (5) Business Days including the respective Purchase Date. Notwithstanding the forgoing, the Investor may waive the Purchase Notice Limit at any time to allow the Investor to purchase additional shares under a Purchase Notice.

Purchase Notice Limit means for any Purchase Notice the Investor’s committed obligation under each Purchase Notice shall not exceed the Investment Limit. Notwithstanding the forgoing, the Investor may waive the Purchase Notice Limit at any time to allow the Investor to purchase additional shares under a Purchase Notice.

Purchase Notice Limit means for any Purchase Notice the Investor’s committed obligation under each Purchase Notice shall not exceed the Investment Limit, for any Fixed Purchase Notice the Investor’s committed obligation shall not exceed $150,000, and the maximum amount of Purchase Notice Shares the Company may require the Investor to purchase per each Purchase Notice shall be the lesser of: (i) 30% of the Average Daily Trading Volume or (ii) the Investment Limit divided by the highest closing price of the Common Stock over the most recent five (5) Business Days immediately preceding receipt of the subject Purchase Notice. Notwithstanding the forgoing, the Investor may waive the Purchase Notice Limit at any time to allow the Investor to purchase additional shares under a Purchase Notice.

Purchase Notice Limit means the lower of

Purchase Notice Limit means, for any Purchase Notice, the Investor’s committed obligation under such Purchase Notice, shall not exceed the Maximum Percentage.

Purchase Notice Limit means, for any Purchase Notice, (A) the Investor’s committed obligation under such Purchase Notice shall not exceed the Investment Limit, and (B) the maximum amount of Purchase Notice Shares the Company may require the Investor to purchase in any Rapid Purchase Notice shall be the lesser of: (i) 20% of the Average Daily Trading Volume, or (ii) the Investment Limit divided by the average closing price of the Common Stock over the most recent five (5) Business Days immediately preceding receipt of the subject Purchase Notice. For any VWAP Purchase Notice, the maximum amount of Purchase Notice Shares the Company may require the Investor to purchase shall be the lesser of: (i) 35% of the Average Daily Trading Volume, or (ii) the Investment Limit divided by the average closing price of the Common Stock over the most recent five (5) Business Days immediately preceding receipt of the subject Purchase Notice. Each Purchase Notice shall have a minimum put size of $75,000 to ensure each transaction is economically viable. The Investor may initiate requests to increase the Purchase Notice Limit or waive restrictions without needing a formal request from the Company, enabling quicker decisions and better alignment with market conditions. The Investor needs to seek the approval of the Company if the increase of the previously submitted Purchase Notice is greater than 30% of the originally submitted notice. Automatic Adjustment for High-Volume Days: On days when trading volume exceeds 150% of the average daily volume over the most recent five (5) Business Days immediately preceding the High-Volume Day, the Purchase Notice Limit may automatically adjust upwards, to allow for the lesser of 70% of the average daily volume or $1,250,000, allowing the Investor to capitalize more effectively when liquidity is abundant. Waiver of Limits: Notwithstanding the foregoing, the Investor may waive the Purchase Notice Limit with respect to any submitted Purchase Notice, at any time at its sole discretion, following receipt of a written request regarding the same from the Company.

Purchase Notice Limit means fifty thousand (50,000) shares of Common Stock; unless waived upon mutual agreement between the Company and Investor.