Black Scholes Cap

Black Scholes Cap. The sum of (i) $1.00 (as equitably adjusted to reflect any events requiring an adjustment of the Exercise Price pursuant to Sections 2 or 3 hereof) plus (ii) the Intrinsic Value; provided, however, that if the Intrinsic Value is less than or equal to zero (0), then the Black Scholes Cap shall mean $1.00 (as equitably adjusted to reflect any events requiring an adjustment of the Exercise Price pursuant to Sections 2 or 3 hereof).