Common use of Release Event Clause in Contracts

Release Event. The Lock-Up Agreement shall terminate if, (i) during any calendar month of the second, third or fourth calendar quarter after the Registration Date, the average daily closing sale price of the Company's publicly traded common stock is, for 45 consecutive trading days preceding the first day of such calendar month, greater than or equal to $10.00 per share (as adjusted for any stock splits or stock dividends that may occur after the Effective Date), and (ii) the average daily trading volume of the Company's publicly traded common stock is, for such 45 day period, greater than or equal to 250,000 shares (a "Release Event").