Share Repurchase Price. Share Repurchase Price" shall mean the product of (A) the greater of (I) the Exercise Price paid by Cascade per share of Ascend Common Stock acquired pursuant to the Ascend Option and (II) the Fair Market Value (as defined in Section 7(b)(iii)) of a single share of Ascend Common Stock as of the date of the applicable Repurchase Notice, and (B) the number of shares of Ascend Common Stock to be repurchased pursuant to this Section 7 as covered by the applicable Repurchase Notice. (iii) Fair Market Value. As used in this Agreement, "Fair Market Value" shall mean, with respect to any security, the per share average of the last reported sale prices on The Nasdaq National Market (or such other national stock exchange or national market system as shall then be the primary trading market for such security) for the ten (10) trading days immediately preceding the applicable date.
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Sources: Stock Option Agreement (Cascade Communications Corp)
Share Repurchase Price. Share Repurchase Price" shall mean the product of (A) the greater of (I) the Exercise Price paid by Cascade Ascend per share of Ascend Cascade Common Stock acquired pursuant to the Ascend Cascade Option and (II) the Fair Market Value (as defined in Section 7(b)(iii)) of a single share of Ascend Cascade Common Stock as of the date of the applicable Repurchase Notice, and (B) the number of shares of Ascend Cascade Common Stock to be repurchased pursuant to this Section 7 as covered by the applicable Repurchase Notice. (iii) Fair Market Value. As used in this Agreement, "Fair Market Value" shall mean, with respect to any security, the per share average of the last reported sale prices on The Nasdaq National Market (or such other national stock exchange or national market system as shall then be the primary trading market for such security) for the ten (10) trading days immediately preceding the applicable date.
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