Per Share Market Value

Per Share Market Value. Means on On any particular date (a) the closing bid price per share of the Common Stock on such date on the OTC Bulletin Board or other registered national stock exchange on such Subsequent Market on which the shares of Common Stock is are then listed or quoted, or if there is no such price on such date, then the closing bid price on the OTC Bulletin Board or on such exchange or quotation system Subsequent Market on the date nearest preceding such date, or (b) if the shares of Common Stock is are not then listed then or quoted on the OTC Bulletin Board or any registered national stock exchange, a Subsequent Market, the closing bid price for a share of Common Stock in the over-the-counter market, as reported by the OTC Bulletin Board or in the National Quotation Bureau Incorporated or similar organization or agency succeeding to its functions of reporting prices) at the close of business on such date, or (c) if the shares of Common Stock is are not then reported by the OTC Bulletin Board or the National Quotation Bureau Incorporated (or similar organization or agency succeeding to its functions of reporting prices), then the average of the "Pink Sheet" quotes for the relevant conversion period, as determined in good faith by the holder, or (d) if the Common Stock is not then publicly traded the fair market value of a share of Common Stock as determined by an Independent Appraiser selected in good faith by the Majority Holders; PROVIDED, HOWEVER, that the Issuer, after receipt of the determination by such Independent Appraiser, shall have the right to select an additional Independent Appraiser, in which case, the fair market value shall be equal to the average of the determinations by each such Independent Appraiser; and PROVIDED, FURTHER that all determinations of the Per Share Market Value shall be appropriately adjusted for any stock dividends, stock splits or other similar transactions during such period. The determination of fair market value by an Independent Appraiser shall be based upon the fair market value of the Issuer determined on a going concern basis as between a willing buyer and a willing seller and taking into account all relevant factors determinative of value, and shall be final and binding on all parties. In determining the fair market value of any shares of Common Stock, no consideration shall be given to any restrictions on transfer of the Common Stock imposed by agreement or by federal or state securities laws, or to the existence or absence of, or any limitations on, voting rights. Payee View More

Per Share Market Value. Means on any particular date (a) the last closing bid price per share of the Common Stock on such date on the OTC Bulletin Board or other registered national stock exchange Trading Market on which the Common Stock is then listed listed, or if there is no such price on such date, then the closing bid price on such exchange or quotation system on the date nearest preceding such date, or (b) if the Common Stock is not listed then on a Trading Market, the OTC Bulletin Board or any registered... national stock exchange, the last closing bid price for a share of Common Stock in the over-the-counter market, as reported by the OTC Bulletin Board or in the National Quotation Bureau Incorporated or similar organization or agency succeeding to its functions of reporting prices) at the close of business on such date, or (c) if the Common Stock is not then reported by the OTC Bulletin Board or the National Quotation Bureau MERU NETWORKS, INC. CLASS A WARRANT TO PURCHASE COMMON STOCK 15 Incorporated (or similar organization or agency succeeding to its functions of reporting prices), then the average of the "Pink Sheet" quotes for the relevant conversion period, as determined in good faith by the holder, applicable Trading Days preceding such date of determination, or (d) if the Common Stock is not then publicly traded the fair market value of a share of Common Stock as determined by an Independent Appraiser selected in good faith by the Majority Holders; PROVIDED, HOWEVER, provided, however, that the Issuer, after receipt of the determination by such Independent Appraiser, shall have the right to select an additional Independent Appraiser, in which case, the fair market value shall be equal to the average of the determinations by each such Independent Appraiser; and PROVIDED, FURTHER provided, further that all determinations of the Per Share Market Value shall be appropriately adjusted for any stock dividends, stock splits or other similar transactions during such period. The determination of fair market value by an Independent Appraiser shall be based upon the fair market value of the Issuer determined on a going concern basis as between a willing buyer and a willing seller and taking into account all relevant factors determinative of value, and shall be final and binding on all parties. In determining the fair market value of any shares of Common Stock, no consideration shall be given to any restrictions on transfer of the Common Stock imposed by agreement or by federal or state securities laws, or to the existence or absence of, or any limitations on, voting rights. View More

Per Share Market Value. Means on any particular date (a) the last closing bid price per share of the Common Stock on such date on the OTC Bulletin Board or other registered national stock exchange Trading Market on which the Common Stock is then listed listed, or if there is no such price on such date, then the closing bid price on such exchange or quotation system on the date nearest preceding such date, or (b) if the Common Stock is not listed then on a Trading Market, the OTC Bulletin Board or any registered... national stock exchange, the last closing bid price for a share of Common Stock in the over-the-counter market, as reported by the OTC Bulletin Board or in the National Quotation Bureau Incorporated or similar organization or agency succeeding to its functions of reporting prices) at the close of business on such date, or (c) if the Common Stock is not then reported by the OTC Bulletin Board or the National Quotation Bureau MERU NETWORKS, INC. CLASS B WARRANT TO PURCHASE COMMON STOCK 15 Incorporated (or similar organization or agency succeeding to its functions of reporting prices), then the average of the "Pink Sheet" quotes for the relevant conversion period, as determined in good faith by the holder, applicable Trading Days preceding such date of determination, or (d) if the Common Stock is not then publicly traded the fair market value of a share of Common Stock as determined by an Independent Appraiser selected in good faith by the Majority Holders; PROVIDED, HOWEVER, provided, however, that the Issuer, after receipt of the determination by such Independent Appraiser, shall have the right to select an additional Independent Appraiser, in which case, the fair market value shall be equal to the average of the determinations by each such Independent Appraiser; and PROVIDED, FURTHER provided, further that all determinations of the Per Share Market Value shall be appropriately adjusted for any stock dividends, stock splits or other similar transactions during such period. The determination of fair market value by an Independent Appraiser shall be based upon the fair market value of the Issuer determined on a going concern basis as between a willing buyer and a willing seller and taking into account all relevant factors determinative of value, and shall be final and binding on all parties. In determining the fair market value of any shares of Common Stock, no consideration shall be given to any restrictions on transfer of the Common Stock imposed by agreement or by federal or state securities laws, or to the existence or absence of, or any limitations on, voting rights. View More

Per Share Market Value. Means on any particular date (a) the daily volume weighted average last closing price per Ordinary Share share of the Common Stock on such date on the Nasdaq Global Market, Nasdaq Capital Trading Market or another registered national stock exchange on which the Ordinary Shares are Common Stock is then listed, or if there is no such closing price on such date, then the volume weighted average closing bid price on such date, or if there is no closing bid price on such date, then the closing price... on such exchange or quotation system on the date nearest preceding such date, or (b) if the Ordinary Shares are Common Stock is not listed then on the Nasdaq Global Market, Nasdaq Capital a Trading Market or any registered national stock exchange, the volume weighted average last closing price for a share of Ordinary Shares Common Stock in the over-the-counter market, as reported by the OTC Bulletin Board Trading Market or any registered national stock exchange or in the National Quotation Bureau Incorporated or similar organization or agency succeeding to its functions of reporting prices) at the close of business on such date, or if there is no closing price on such date, then the closing bid price on such date, or (c) if the Ordinary Shares are Common Stock is not then reported by the OTC Bulletin Board Trading Market or any registered national stock exchange or in the National Quotation Bureau Incorporated (or similar organization or agency succeeding to its functions of reporting prices), then the "Pink Sheet" average of the Otcmarkets.com quotes for the applicable five (5) Trading Days preceding such date of determination, or (d) if the Ordinary Shares are Common Stock is not then publicly traded the fair market value of an Ordinary Share a share of Common Stock as determined by an Independent Appraiser selected in good faith by the holder of this and similar warrants; Holder; provided, however, that the Issuer, after receipt of the determination by such Independent Appraiser, shall have the right to select an additional Independent Appraiser, in which case, the fair market value shall be equal to the average of the determinations by each such Independent Appraiser; and provided, further further, that all determinations of the Per Share Market Value shall be appropriately adjusted for any share stock dividends, share stock splits or other similar transactions during such period. The determination of fair market value by an Independent Appraiser shall be based upon the fair market value of the Issuer determined on a going concern basis as between a willing buyer and a willing seller and taking into account all relevant factors determinative of value, and shall be final and binding on all parties. In determining the fair market value of any Ordinary Shares, shares of Common Stock, no consideration shall be given to any restrictions on transfer of the Ordinary Shares Common Stock imposed by agreement or by federal or state securities laws, or to the existence or absence of, or any limitations on, voting rights. View More

Per Share Market Value. Means on any particular date (a) the daily volume weighted average last closing price per Ordinary Share share of the ordinary shares on such date on the Nasdaq Global Market, Nasdaq Capital Trading Market or another registered national stock exchange on which the Ordinary Shares are ordinary shares is then listed, or if there is no such closing price on such date, then the volume weighted average closing bid price on such date, or if there is no closing bid price on such date, then the closing... price on such exchange or quotation system on the date nearest preceding such date, or (b) if the Ordinary Shares are ordinary shares is not listed then on the Nasdaq Global Market, Nasdaq Capital a Trading Market or any registered national stock exchange, the volume weighted average last closing price for a share of Ordinary Shares ordinary shares in the over-the-counter market, as reported by the OTC Bulletin Board Trading Market or any registered national stock exchan ge or in the National Quotation Bureau Incorporated or similar organization or agency succeeding to its functions of reporting prices) at the close of business on such date, or if there is no closing price on such date, then the closing bid price on such date, or (c) if the Ordinary Shares are ordinary shares is not then reported by the OTC Bulletin Board Trading Market or any registered national stock exchange or in the National Quotation Bureau Incorporated (or similar organization or agency succeeding to its functions of reporting prices), then the average of the "Pink Sheet" quotes for the applicable five (5) Trading Days preceding such date of determination, or (d) if the Ordinary Shares are ordinary shares is not then publicly traded the fair market value of an Ordinary Share ordinary share or as determined by an Independent Appraiser selected in good faith by the holder of this and similar warrants; Majority Holders; provided, however, that the Issuer, after receipt of the determination determin ation by such Independent Appraiser, shall have the right to select an additional Independent Appraiser, in which case, the fair market value shall be equal to the average of the determinations by each such Independent Appraiser; and provided, further further, that all determinations of the Per Share Market Value shall be appropriately adjusted for any share stock dividends, share stock splits or other similar transactions during such period. The determination of fair market value by an Independent Appraiser shall be based upon the fair market value of the Issuer determined on a going concern basis as between a willing buyer and a willing seller and taking into account all relevant factors determinative of value, and shall be final and binding on all parties. In determining the fair market value of any Ordinary Shares, ordinary shares, no consideration shall be given to any restrictions on transfer of the Ordinary Shares ordinary sh ares imposed by agreement or by federal or state securities laws, or to the existence or absence of, or any limitations on, voting rights. View More