definiens: of an equity security means ( i ) if the equity security is traded on a National Exchange, then Fair Market Value shall equal the average closing sale price of a share of such equity security as reported on the National Exchange for the five ( 5 ) trading days immediately preceding, and the five ( 5 ) trading days including and following, the date payment is received for such security from the Sublicensee ; ( ii ) if the equity security is not traded on a National Exchange, then Fair Market Value shall be detennined on the basis of the common stock equivalents of such equity security, and shall equal the effective gross price per share of a common stock equivalent of ASLAN ( subject to appropriate adjustments for stock splits, stock dividends, recapitalizations, reorganizations and combinations ) in the last sale of equity securities by ASLAN to Third Parties other than the Sublicensee ( but including sales to such other Third Parties made at the same time as the sale to the Sublicensee ) within the preceding six ( 6 ) months . If no shares have been issued as provided in subsection ( ii ), the board of directors of ASLAN shall determine the Fair Market Value in good faith, provided that [COMPANY] shall have the right to request a determination by an independent expert selected by mutual agreement of the Parties