Adjust Sample Clauses

Adjust. Adjust the shares, at the Grantee’s request, as the Committee deems appropriate to reflect the Change in Control.
Adjust. Adjust the shares as the Committee deems appropriate to reflect the Change in Control.
Adjust. No. Price/Unit NOI/Unit NOI/Unit Factor Price/Unit --- --------- -------- -------- ------ ---------- 1 $73,214 $6,267 $6,348 1.01292 $ 74,160 2 $26,750 $2,916 $6,348 2.17695 $ 58,234 3 $45,238 $3,510 $6,348 1.80855 $ 81,815 4 $37,111 $3,562 $6,348 1.78214 $ 66,137 5 $75,099 $6,263 $6,348 1.01357 $ 76,118 6 $32,254 $3,083 $6,348 2.05903 $ 66,412 7 $37,500 $3,811 $6,348 1.66570 $ 62,464 8 $41,852 $4,240 $6,348 1.49717 $ 62,660 Mean = $ 68,500 Value @ mean $8,357,000 =============================================================================== The various sales reflected NOIs per square foot ranging from $3.16 to $6.26 and NOIs per unit ranging from $2,916 to $6,267. The subject NOI (without reserve expenses) has been approximated at $5.40 per square foot or $6,348 per unit from the first year of the Discounted Cash Flow analysis in the Income Approach section of this report. To estimate an adjustment for each sale, the subject's NOI has been compared to the individual NOI of the comparable sales. The adjustments should account for all the various physical and economic differences in each improved property sale as income is a function of the current market. Market conditions should reflect perceived risk, or other factors, which may affect value. Time differences do not need further adjustment as any drop in value would theoretically be the function of a drop in income. There would need to be an adjustment for age in order to recognize differences in the length of the income streams. The chart on the facing page presents the adjustment process for NOI per square foot and NOI per unit. After adjustment, the sales range in price from $49.49 to $69.58 per square foot and $58,234 to $81,815 per unit. The simple average adjusted prices (not weighted) per square foot and per unit of the comparable sales was calculated at $58.28 and $68,500, respectively. Applying an age adjustment based on square foot area and number of units indicates value at $55.50 per square foot and $65,300 per unit 143,508 SF at $55.50/SF, Rounded........... $8,000,000 122 units at $65,300/unit.................. $8,000,000 A second method of comparison is by use of the effective gross rental multiplier (EGRM). In this analysis, the subject's effective gross income is multiplied by a factor estimated from the sales to derive an indication of value. The sales utilized in this analysis reflect EGRMs ranging from 4.56 to 7.80 as shown on the following facing page. Expense ratios range from 33.2...
Adjust. No. Price/SF NOI/SF NOI/SF Factor Price/SF ---- -------- ------ ------- ------ -------- 1 $ 69.11 $ 5.92 $ 4.44 0.750000 $51.83 2 $ 28.96 $ 3.16 $ 4.44 1.405063 $40.69 3 $ 51.54 $ 4.00 $ 4.44 1.110000 $57.21 4 $ 48.99 $ 4.69 $ 4.44 0.946695 $46.38 5 $ 75.12 $ 6.26 $ 4.44 0.709265 $53.28 6 $ 40.26 $ 3.85 $ 4.44 1.153247 $46.43 7 $ 45.77 $ 4.65 $ 4.44 0.954839 $43.70 8 $ 42.06 $ 4.26 $ 4.44 1.042254 $43.84 Mean= $47.92 Value @ mean $12,623,278
Adjust e) Refresh NTS
Adjust. In case of oil spill Tier 1, CONTRACTOR'S ABBREV Oil Spill Contingency Plan will be used.(inboard) In case of oil spills Tier 2 and 3, Talisman Oil Spill Contingency Plan will be used.
Adjust. No. Price/Unit NOI/Unit NOI/Unit Factor Price/Unit ----------------------------------------------------------- 1 $71,000 $6,390 $5,514 0.86291 $ 61,267 2 51,515 4,379 5,514 1.25919 64,867 3 40,023 NA 5,514 NA NA 4 49,838 NA 5,514 NA NA 5 52,083 4,464 5,514 1.23522 64,334 6 50,202 4,396 5,514 1.25432 62,969 7 61,895 5,387 5,514 1.02358 63,354 8 63,504 5,480 5,514 1.00620 63,898 9 62,687 5,266 5,514 1.05511 66,142 After adjustments, the sales reflected a range in value for the subject from $61,267 to $66,142 per unit. Again, please note no NOI information was available for Sales 3 and 4. Sale 1 is the most recent sale, but it reflected a significantly higher NOI per unit than the subject. The adjusted value by this sale was $61,267 per unit. Sales 7 and 8 are most similar in NOI per unit and these sales reflected values of $63,354 and $63,898 per unit. Additionally, an age adjustment was made. Based on all the data, we estimated a value for the subject of $58,000 per unit. The following indication reflects an "as is" value per unit for the subject considering the subject's deferred maintenance and rent loss. 220 units x $58,000/unit.............. $12,760,000 Less: Deferred maintenance............ (185,000) Less Rent Loss........................ (34,121) Value via NOI Price/Unit Method....... $12,540,879 Rounded $12,500,000 EFFECTIVE GROSS INCOME MULTIPLIER METHOD In addition to the NOI price per square foot and price per unit analysis, we have employed an effective gross income multiplier (EGIM) analysis to the sales. Unlike the price per unit analysis, EGIMs cannot be adjusted for dissimilar factors when compared to the subject. Instead, certain factors must be closely analyzed for determining comparability of the multiplier to the subject property. These include the timing of the sale and whether market condition changes have occurred between the date of valuation and the sale date, as well as occupancies and expense ratio levels, and the comparability of the sale in terms of its physical features and the resulting income stream potential. Listed below are the details of the sales we felt to be pertinent in our selection of a reasonable EGIM for the subject. All factors were considered in our interpretation of the data leading to the EGIM of the sales.
Adjust. No. Price/SF NOI/SF NOI/SF Factor Price/SF --- ------- ------ ----- ------ --------- 1 $69.11 $5.92 $5.40 0.91216 $ 63.04 2 $28.96 $3.16 $5.40 1.70886 $ 49.49 3 $51.54 $4.00 $5.40 1.35000 $ 69.58 4 $48.99 $4.69 $5.40 1.15139 $ 56.41 5 $75.12 $6.26 $5.40 0.86262 $ 64.80 6 $40.26 $3.85 $5.40 1.40260 $ 56.47 7 $45.77 $4.65 $5.40 1.16129 $ 53.15 8 $42.06 $4.26 $5.40 1.26761 $ 53.32 Mean = 58.28 Value @ mean $8,364,005 Sale Sale Subject Adjust.