Determination of Liabilities. Current Liabilities – GAAP book value when it approximates fair value. Long-term Debt – fair value (“marked to market”) of debt maturing in one year or more. Minority interests – based on allocation of fair value of assets less liabilities of the joint venture based on the provisions of the joint venture agreement. Liabilities required by ASC 805 and liabilities already included in the valuation of real estate or the fair value of other liabilities (e.g., accrued property taxes included in a discounted cash flow valuation and accrued interest expense included in the fair value of a loan) shall be excluded from the valuation.
Appears in 3 contracts
Samples: Dealer Agreement (Resource Apartment REIT III, Inc.), Dealer Agreement (Hines Global Reit Ii, Inc.), Dealer Agreement (Industrial Property Trust Inc.)
Determination of Liabilities. Current Liabilities – GAAP book value when it approximates fair value. Long-term Debt – fair value (“marked to market”) of debt maturing in one year or more. Minority interests – based on allocation of fair value of assets less liabilities of the joint venture based on the provisions of the joint venture agreement. Liabilities required by ASC 805 SFAS 141 and liabilities already included in the valuation of real estate or the fair value of other liabilities (e.g., accrued property taxes included in a discounted cash flow valuation and accrued interest expense included in the fair value of a loan) shall be excluded from the valuation.
Appears in 1 contract
Samples: Selected Dealer Agreement (KBS Legacy Partners Apartment REIT, Inc.)
