Initial Closing Price definition
Examples of Initial Closing Price in a sentence
Notwithstanding anything to the contrary contained in this Section 4.8, the Company shall have no obligation to solicit or obtain the Stockholder Approval if the Milestone Price is determined to be the Initial Closing Price rather than the Alternative Milestone Price, and the Company shall have no obligation to solicit or obtain the Stockholder Approval after March 31, 2020.
If the lowest average Closing Bid Price for any five (5) Business Days (not necessarily consecutive) during the First Repricing Period (the "FIRST REPRICING PRICE"), is not equal to or greater than 120% of the Initial Closing Price, then one-third (1/3) of the Initial Shares shall be repriced (the "FIRST REPRICED SHARES").
If Incara is unable to obtain such approvals within such period, EPIL shall have the right, in its sole discretion, to purchase, at the Initial Closing Price, any remaining Shares otherwise required to be purchased and, if so purchased by EPIL, EPIL shall be entitled to the remedies available to EPIL under the Development Agreement in the case of a breach under Section 12.3 of the Development Agreement.
Within 60 days following the determination of any adjustment pursuant to Section 2.6 to the Initial Closing Price Payment, Seller and Purchaser shall attempt in good faith to agree upon the allocation of such adjustment.
Notwithstanding the foregoing, if the Initial Closing does not occur by May 1, 2018, in lieu of purchasing the Initial Closing Shares at the Initial Closing Price Per Share, the Purchaser will pay the Company the Alternative Initial Cash Payment (as defined in the Collaboration Agreement) (the “Alternative Initial Closing”).