Determination of Values Clause Samples
The "Determination of Values" clause establishes the method by which specific financial or quantitative figures are calculated or agreed upon within a contract. Typically, this clause outlines the procedures, standards, or reference sources to be used when determining values such as asset prices, damages, or settlement amounts, and may specify the involvement of independent experts or third-party appraisers. Its core practical function is to ensure consistency and fairness in the valuation process, thereby reducing disputes and ambiguity over how key figures are established during the contract's performance or upon its termination.
Determination of Values. The Borrower will conduct reviews of the value to be assigned to each of its Portfolio Investments included in the Borrowing Base as follows:
Determination of Values. For the purposes of this Agreement and not to be required to be utilized for any other purpose (including, for the avoidance of doubt, the Borrower’s financial statements, valuations required under the Financial Accounting Standards Board Accounting Standards Codification Topic 820, Fair Value Measurement (ASC 820) or valuations required under the Investment Company Act), the Borrower will conduct reviews of the value to be assigned to each of its Portfolio Investments included in the Borrowing Base as follows:
Determination of Values. For purposes of the Loan Documents, the Eligible Portfolio Investments shall be valued as follows:
Determination of Values. The Borrower will conduct reviews of the value to be assigned to each of its Portfolio Investments as follows:
(A) Quoted Investments - External Review. With respect to Portfolio Investments (including Cash Equivalents) for which market quotations are readily available, the Borrower shall, not less frequently than once each calendar week, determine the market value of such Portfolio Investments which shall, in each case, be determined in accordance with one of the following methodologies (as selected by the Borrower):
Determination of Values. The method of determination by the Company of the Net Investment Factor, and the number and value of Accumulation Units and Annuity Units, will be conclusive upon the Owner, any assignee, the Annuitant, and any beneficiary.
Determination of Values. Policy Value. Cost of insurance charges. Excess amount. Variable paid-up additional insurance.
Determination of Values. The method of determination by the Company of the Net Investment Factor, of the number and value of Accumulation Units and Annuity Units, and of the declared rates in the Guaranteed Return Fund Accounts, will be conclusive upon the Owner, and upon any assignee, participant, annuitant, or beneficiary.
Determination of Values. For purposes of the Loan Documents, each Eligible Portfolio Investment shall be assigned a Value in accordance with the Borrower’s valuation procedures as described in its prospectus and other reports filed by the Borrower with the SEC (the “Internal Value”); provided, that the Value of a Portfolio Investment acquired after the most recent determination of value of Portfolio Investments as described above shall be the cost of such Portfolio Investment; provided, further, that commencing on July 31st, 2016, and for each October 31st , January 31st, April 30th and July 31st thereafter (each an “IVP Testing Date”), the Administrative Agent through an Independent Valuation Provider will, solely for purposes of determining the Borrowing Base, test the values as of such IVP Testing Date of those Unquoted Investments that are Portfolio Investments included in the Borrowing Base selected by the Administrative Agent at the direction of the Required Lenders (such selected assets, the “IVP Tested Assets” and such value (which may be stated as a range or otherwise as a single stated value), the “IVP External Unquoted Borrowing Base Value”); provided that the fair value of such Portfolio Investments tested by the Independent Valuation Provider as of any IVP Testing Date shall be approximately 25% of the aggregate value of the Unquoted Investments in the Borrowing Base (the determination of fair value for such 25% threshold shall be based off of the last determination of value of the Portfolio Investments pursuant to this Section 5.12). Each Lender agrees that it shall respond to any request by the Administrative Agent relating to the selection of IVP Tested Assets within five (5) Business Days of receipt of such request; provided that if the Administrative Agent does not receive any direction from the Required Lenders at least five (5) Business Days prior to the applicable IVP Testing Date, such Portfolio Investments may be selected by the Administrative Agent in its sole discretion (regardless of whether the Administrative Agent has previously submitted a request to the Lenders). For purposes of the Borrowing Base, the value of each Eligible Portfolio Investment shall be the Internal Value, except that if the Internal Value of any Unquoted Investment as most recently determined by the Borrower is more than 5% above the midpoint of the range of (or single stated value, if applicable) the IVP External Unquoted Borrowing Base Value of such Unquoted Investment as most rec...
Determination of Values. The Borrower will conduct reviews of the value to be assigned to each of its Portfolio Investments included in the Credit Facility First Priority Collateral as follows:
Determination of Values. The Borrower will conduct reviews of the value to be assigned to each of its Eligible Portfolio Investments (and, as required on Schedule 1.01(f), each of its Non-Core Assets), as follows: