definiens: means, for any date, the price determined by the first of the following clauses that applies : ( a)if the Common Stock is then listed or quoted on a Trading Market, the daily volume weighted average priceof the Common Stock for such date ( or the nearest preceding date ) on the Trading Market on which theCommon Stock is then listed or quoted for trading as reported by Bloomberg Financial L.P. ( based on aTrading Day from 9:30 a.m. ( New York City time ) to 4:02 p.m. ( New York City time ) ) ; ( b ) if the OTCBulletin Board is not a Trading Market, the volume weighted average price of the Common Stock for suchdate ( or the nearest preceding date ) on the OTC Bulletin Board ; ( c ) if the Common Stock is not then quotedfor trading on the OTC Bulletin Board and if prices for the Common Stock are then reported in the published by Pink OTC Markets, Inc. ( or a similar organization or agency succeeding to itsfunctions of reporting prices ), the most recent bid price per share of the Common Stock so reported ; or ( d)in all other cases, the fair market value of a share of Common Stock as determined by an independentappraiser selected in good faith by the Holder and reasonably acceptable to the Corporation