Common use of Determination of Exercise Price Clause in Contracts

Determination of Exercise Price. Prior to the Final Measurement Date, a majority in interest of the Original Holders shall retain, at Buyer's expense, a nationally recognized investment banking firm with significant experience in the equity derivatives market (reasonably acceptable to Buyer) to determine the revised aggregate number of shares issuable upon exercise of the Warrants such that, in the written opinion of such investment banking firm rendered within 15 days after the Final Measurement Date, on the Final Measurement Date, the Warrants issued to the Original Holders and their Permitted Transferees would have an aggregate value, based upon the assumptions set forth on Exhibit A, equal to the Warrant Value Amount. Within two (2) Business Days after the determination of the Warrant Value Amount, Buyer shall notify each Warrant holder of the Warrant Value Amount and such holder of its Total Warrant Value and contemporaneously, such investment bank shall provide to Buyer and holder a copy of its opinion and of its standing bid, each as described in Exhibit A.

Appears in 3 contracts

Sources: Merger Agreement (Ryder TRS Inc), Merger Agreement (Questor Partners Fund L P), Merger Agreement (Budget Group Inc)