How is Security Price defined in a legal contract?
- Security Price means the average closing price for a particular security, tracked over 20 trading days prior to the date of determining the Security Price. The reference exchange is the primary securities exchange or automated quotation system where the security is listed. If the security is not publicly traded, the Security Price is the value ascertained by the managing body.
Seen in 13 SEC filings - Security Price means the price per security as determined by an authorized agent at a specific valuation time on a relevant exchange on a given date.
Seen in 8 SEC filings - Security Price means the average of the bid quotations per security by a bid solicitation agent for a certain amount of securities at a specific time and date from three selected independent securities dealers. If these cannot be obtained, it refers to a calculated price based on then current conversion rate and sale price of certain stock.
Seen in 5 SEC filings - Security Price means on any date of deciding, the average of the secondary market bid quotations per a given original amount, obtained by a bid solicitation agent for a certain original principal amount of Securities at a certain time on the date of determination from three selected securities dealers in a specific city. If these cannot be obtained or if the bids do not reflect the secondary market value of the Securities, the Security Price equals the conversion rate in effect as of the determination date multiplied by the average sale price.
Seen in 4 SEC filings
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for ‘Definitions of security price’ yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Security Price means the average closing or bid price of a security, acquired over an explicit period, on a primary exchange or through an authorized agent.
Relevant Contract Types
Relevant Circumstances
- Buying, selling or trading securities
- Establishing financial services contracts
- Setting the conditions for an investment agreement
Relevant Sectors
Genie Definition 2
- Security Price means the fair market value ascertained by a governing body for non-publicly traded securities.
Relevant Contract Types
Relevant Circumstances
- Valuating a business for sale or merger
- Determining the price of non-publicly traded securities
Relevant Sectors
Are you creating, reviewing or negotiating a document?
🚀 Try our AI Legal Assistant! It can suggest a definition just for your specific needs (Simply import your contract, then ask it to draft a definition suitable for your document, that's it!)
Security Price means the average closing or bid price of a security, acquired over an explicit period, on a primary exchange or through an authorized agent
Download our whitepaper on the future of AI in Legal
Try using Genie's Free AI Legal Assistant
Generate quality, formatted contracts with AI
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Let our Legal AI make edits for you
Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.
AI review
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Book your personalised demo now
