Common use of Book Value Clause in Contracts

Book Value. If the "book value" shall be used as the measurement of value, per share, the following definition of "book value" shall apply: Capital Stock plus retained earnings plus additional paid-in capital as of the last day of the month preceding the date of purchase ("Valuation Date"), as determined by the accountant regularly employed by the Company or, if no accountant is regularly employed by the Company, then by an accountant selected by mutual agreement of the parties.