{"component": "clause", "props": {"groups": [{"snippet_links": [], "snippet": "12 12.3. Closing............................................. 13 12.4.", "samples": [{"hash": "jdqpk1Bnm3i", "uri": "/contracts/jdqpk1Bnm3i#determined-value", "label": "Warrant Agreement (CPS Systems Inc)", "score": 18.0, "published": true}, {"hash": "gitbX1yEtuI", "uri": "/contracts/gitbX1yEtuI#determined-value", "label": "Warrant Agreement (CPS Systems Inc)", "score": 18.0, "published": true}, {"hash": "L14wmx8ZhM", "uri": "/contracts/L14wmx8ZhM#determined-value", "label": "Warrant Agreement (CPS Systems Inc)", "score": 18.0, "published": true}], "size": 4, "hash": "64120ae148ab202cb5a8a8f9cd5a4826", "id": 1}, {"snippet_links": [{"key": "the-holder", "type": "clause", "offset": [0, 10]}, {"key": "right-to-put", "type": "clause", "offset": [28, 40]}, {"key": "notice-thereof", "type": "clause", "offset": [55, 69]}, {"key": "notice-of-sale", "type": "definition", "offset": [72, 86]}, {"key": "to-the-company", "type": "clause", "offset": [89, 103]}, {"key": "the-company-shall", "type": "clause", "offset": [140, 157]}, {"key": "agreement-in-writing", "type": "clause", "offset": [252, 272]}, {"key": "in-accordance-with", "type": "definition", "offset": [300, 318]}], "snippet": "The Holder may exercise the Right to Put by delivering notice thereof (\"Notice of Sale\") to the Company. Promptly thereafter the Holder and the Company shall attempt to reach agreement on the Determined Value. If they do so agree, they shall put their agreement in writing, and closing shall be held in accordance with (S) 12.", "samples": [{"hash": "jdqpk1Bnm3i", "uri": "/contracts/jdqpk1Bnm3i#determined-value", "label": "Warrant Agreement (CPS Systems Inc)", "score": 18.0, "published": true}, {"hash": "gitbX1yEtuI", "uri": "/contracts/gitbX1yEtuI#determined-value", "label": "Warrant Agreement (CPS Systems Inc)", "score": 18.0, "published": true}, {"hash": "L14wmx8ZhM", "uri": "/contracts/L14wmx8ZhM#determined-value", "label": "Warrant Agreement (CPS Systems Inc)", "score": 18.0, "published": true}], "size": 4, "hash": "d7a6de3ba41a28dc88ba408eaebabc19", "id": 2}, {"snippet_links": [{"key": "relevant-time", "type": "definition", "offset": [7, 20]}, {"key": "net-book-value", "type": "definition", "offset": [47, 61]}, {"key": "eligible-container", "type": "definition", "offset": [68, 86]}, {"key": "eligible-generator", "type": "definition", "offset": [88, 106]}, {"key": "refrigeration-unit", "type": "definition", "offset": [117, 135]}, {"key": "eligible-chassis", "type": "clause", "offset": [139, 155]}, {"key": "the-case", "type": "definition", "offset": [160, 168]}, {"key": "in-accordance-with", "type": "definition", "offset": [188, 206]}], "snippet": "At the relevant time of reference thereto, the Net Book Value of an Eligible Container, Eligible Generator, Eligible Refrigeration Unit or Eligible Chassis, as the case may be, determined in accordance with GAAP.", "samples": [{"hash": "iQXNQTgGSEA", "uri": "/contracts/iQXNQTgGSEA#determined-value", "label": "Revolving Credit Agreement (SeaCube Container Leasing Ltd.)", "score": 23.4887063655, "published": true}, {"hash": "ikB9bmkzWpq", "uri": "/contracts/ikB9bmkzWpq#determined-value", "label": "Revolving Credit Agreement (SeaCube Container Leasing Ltd.)", "score": 21.8542094456, "published": true}, {"hash": "7Cstf7esJXb", "uri": "/contracts/7Cstf7esJXb#determined-value", "label": "Revolving Credit Agreement (SeaCube Container Leasing Ltd.)", "score": 21.2381930185, "published": true}], "size": 4, "hash": "01aca9f4b2f86818845013e22d1d5bb9", "id": 3}, {"snippet_links": [{"key": "section-5", "type": "clause", "offset": [23, 32]}, {"key": "to-the-extent", "type": "clause", "offset": [45, 58]}, {"key": "determination-of-the", "type": "clause", "offset": [66, 86]}, {"key": "put-securities", "type": "definition", "offset": [107, 121]}, {"key": "called-securities", "type": "definition", "offset": [125, 142]}, {"key": "the-fair-market-value", "type": "clause", "offset": [168, 189]}, {"key": "for-purposes-of-this-agreement", "type": "definition", "offset": [199, 229]}, {"key": "the-value", "type": "clause", "offset": [259, 268]}, {"key": "class-of-securities", "type": "clause", "offset": [313, 332]}, {"key": "one-share", "type": "definition", "offset": [384, 393]}, {"key": "date-of", "type": "clause", "offset": [440, 447]}, {"key": "put-right-exercise-notice", "type": "definition", "offset": [452, 477]}, {"key": "call-right-exercise-notice", "type": "definition", "offset": [485, 511]}, {"key": "pursuant-to", "type": "definition", "offset": [542, 553]}, {"key": "provided-that", "type": "clause", "offset": [570, 583]}, {"key": "other-units", "type": "definition", "offset": [679, 690]}, {"key": "a-percentage", "type": "definition", "offset": [737, 749]}, {"key": "face-amount", "type": "definition", "offset": [757, 768]}, {"key": "equal-to", "type": "definition", "offset": [816, 824]}, {"key": "within-thirty", "type": "clause", "offset": [927, 940]}, {"key": "days-after", "type": "definition", "offset": [946, 956]}, {"key": "nationally-recognized", "type": "definition", "offset": [1081, 1102]}, {"key": "appraisal-firm", "type": "definition", "offset": [1103, 1117]}, {"key": "qualified-firm", "type": "definition", "offset": [1122, 1136]}, {"key": "notice-to-the", "type": "clause", "offset": [1156, 1169]}, {"key": "other-party", "type": "definition", "offset": [1170, 1181]}, {"key": "if-either-party", "type": "clause", "offset": [1201, 1216]}, {"key": "notice-of", "type": "clause", "offset": [1243, 1252]}, {"key": "a-qualified", "type": "clause", "offset": [1254, 1265]}, {"key": "prior-to-the", "type": "clause", "offset": [1271, 1283]}, {"key": "such-party", "type": "clause", "offset": [1304, 1314]}, {"key": "agreed-to", "type": "clause", "offset": [1339, 1348]}, {"key": "the-appraisal", "type": "clause", "offset": [1401, 1414]}, {"key": "conclusive-and-binding", "type": "clause", "offset": [1562, 1584]}, {"key": "certain-information", "type": "clause", "offset": [1594, 1613]}, {"key": "omitted-and-filed-separately-with-the-securities-and-exchange-commission", "type": "clause", "offset": [1640, 1712]}, {"key": "confidential-treatment", "type": "definition", "offset": [1714, 1736]}, {"key": "each-party", "type": "clause", "offset": [1810, 1820]}, {"key": "the-parties-shall", "type": "clause", "offset": [2008, 2025]}, {"key": "arrange-for", "type": "clause", "offset": [2026, 2037]}, {"key": "the-qualified", "type": "clause", "offset": [2038, 2051]}, {"key": "binding-upon", "type": "clause", "offset": [2614, 2626]}, {"key": "mutually-agreed", "type": "clause", "offset": [2765, 2780]}, {"key": "parties-are", "type": "clause", "offset": [2824, 2835]}, {"key": "third-appraisal", "type": "clause", "offset": [3244, 3259]}, {"key": "binding-on-the-parties", "type": "clause", "offset": [3680, 3702]}, {"key": "minority-ownership", "type": "definition", "offset": [3853, 3871]}, {"key": "lack-of", "type": "clause", "offset": [3876, 3883]}, {"key": "take-into-account", "type": "definition", "offset": [3908, 3925]}, {"key": "unpaid-dividends", "type": "definition", "offset": [3930, 3946]}, {"key": "relevant-evidence", "type": "definition", "offset": [4076, 4093]}, {"key": "information-submitted", "type": "clause", "offset": [4098, 4119]}, {"key": "by-the-parties", "type": "clause", "offset": [4161, 4175]}, {"key": "the-company-shall", "type": "clause", "offset": [4218, 4235]}, {"key": "cooperate-with", "type": "clause", "offset": [4236, 4250]}, {"key": "provide-all-information", "type": "clause", "offset": [4255, 4278]}, {"key": "requested-by", "type": "definition", "offset": [4290, 4302]}, {"key": "execution-by", "type": "definition", "offset": [4336, 4348]}, {"key": "a-non", "type": "clause", "offset": [4381, 4386]}, {"key": "disclosure-agreement", "type": "definition", "offset": [4387, 4407]}, {"key": "form-and-substance", "type": "clause", "offset": [4411, 4429]}, {"key": "to-the-company", "type": "clause", "offset": [4454, 4468]}, {"key": "the-determination-of", "type": "definition", "offset": [4470, 4490]}, {"key": "in-writing", "type": "clause", "offset": [4602, 4612]}, {"key": "any-non", "type": "clause", "offset": [4711, 4718]}, {"key": "disclosure-obligations", "type": "clause", "offset": [4719, 4741]}, {"key": "selection-of-the", "type": "clause", "offset": [4861, 4877]}, {"key": "confidential-information-of-the-company", "type": "clause", "offset": [4972, 5011]}, {"key": "obligations-of-purchaser", "type": "clause", "offset": [5044, 5068]}, {"key": "with-respect-to-confidential-information", "type": "clause", "offset": [5069, 5109]}, {"key": "expenses-of", "type": "clause", "offset": [5162, 5173]}], "snippet": "The provisions of this Section 5 shall apply to the extent that a determination of the Determined Value of Put Securities or Called Securities is required to ascertain the Fair Market Value thereof. For purposes of this Agreement, \u201cDetermined Value\u201d shall be the value, determined separately with respect to each class of securities comprising Put Securities or Called Securities, of one share or unit of such class of securities as of the date of the Put Right Exercise Notice or the Call Right Exercise Notice, as applicable, as determined pursuant to this Section 5; provided that if the Put Securities or Called Securities are denominated in dollars rather than in shares or other units, then the Determined Value shall be stated as a percentage of the face amount thereof (which percentage may be greater than, equal to or less than 100% to reflect any premium or discount to such face amount). The Company and Purchaser, within thirty (30) days after the date of the Put Right Exercise Notice or the Call Right Exercise Notice (the \u201cSelection Deadline\u201d), shall each select a nationally recognized appraisal firm (a \u201cQualified Firm\u201d) and give written notice to the other party of such selection. If either party fails to select, and give notice of, a Qualified Firm prior to the Selection Deadline, such party shall be deemed to have agreed to the other party\u2019s selection of a Qualified Firm and the appraisal of the value of the Put Securities or Called Securities, as applicable, by such selected Qualified Firm shall be the Determined Value and shall be conclusive and binding on [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. the parties. If each party has timely selected a Qualified Firm, then each of the two selected Qualified Firms shall conduct an appraisal of the value of the Put Securities or Called Securities, as applicable, and the parties shall arrange for the Qualified Firms to deliver their appraisals to each party simultaneously. If the higher of the two appraisals with respect to any class of Put Securities or Called Securities (the \u201cHigher Appraisal\u201d) is equal to or is less than one hundred ten percent (110%) of the lower of the two appraisals with respect to such class of Put Securities or Called Securities (\u201cLower Appraisal\u201d), the average of the Lower Appraisal and the Higher Appraisal shall be the Determined Value with respect to such class of Put Securities or Called Securities and shall be deemed conclusive and binding upon the parties. If the Higher Appraisal is more than one hundred ten percent (110%) of the Lower Appraisal, the parties shall select a third mutually agreed-upon Qualified Firm (\u201cThird Firm\u201d). If the parties are unable to agree upon a Third Firm within thirty (30) days after the first two appraisals have been provided to the parties, the two Qualified Firms shall select the Third Firm. The Third Firm shall conduct an appraisal of the value of the Put Securities or Called Securities, as applicable, with respect to which the higher appraisal was more than one hundred ten percent (110%) of the Lower Appraisal (the \u201cThird Appraisal\u201d). The relative differences between the Higher Appraisal, the Lower Appraisal and the Third Appraisal shall be calculated and the two appraisals with the smallest relative difference shall be identified. The average of the two such identified appraisals shall be the Determined Value with respect to such Put Securities or Called Securities for which such Third Appraisal was required and shall be deemed conclusive and binding on the parties. All determination of the value of Put Securities or Called Securities, as applicable, shall be determined with appropriate discounts attributable to minority ownership and lack of marketability and shall take into account all unpaid dividends or interest, if any, accrued thereon. In conducting their appraisals, the Qualified Firms appointed hereunder shall consider all relevant evidence and information submitted to them, and all such evidence submitted by the parties shall be provided to each Qualified Firm. The Company shall cooperate with and provide all information reasonably requested by a Qualified Firm, subject to the execution by each selected Qualified Firm of a non-disclosure agreement in form and substance reasonably satisfactory to the Company. The determination of the value of the Put Securities or Called Securities, as applicable, by each Qualified Firm shall be set forth in writing, together with an explanation of the considerations upon which its appraisal is based (subject to any non-disclosure obligations), with a signed counterpart delivered simultaneously to the Company and Purchaser not later than sixty (60) days after selection of the last of the Qualified Firms. Purchaser acknowledges and agrees that all appraisals constitute confidential information of the Company that is subject to all existing obligations of Purchaser with respect to confidential information of the Company. The Company shall bear the fees and expenses of all Qualified Firms selected under this Section 5.", "samples": [{"hash": "nxTIssx5D0", "uri": "/contracts/nxTIssx5D0#determined-value", "label": "Investor Agreement (Blackhawk Network Holdings, Inc)", "score": 24.2087611225, "published": true}, {"hash": "fB3cnKcOJvo", "uri": "/contracts/fB3cnKcOJvo#determined-value", "label": "Investor Agreement (Blackhawk Network Holdings, Inc)", "score": 24.2087611225, "published": true}], "size": 3, "hash": "5858aaf5831528fec85869ad2fbbb553", "id": 4}, {"snippet_links": [{"key": "relevant-time", "type": "definition", "offset": [7, 20]}, {"key": "lesser-of", "type": "definition", "offset": [47, 56]}, {"key": "net-book-value", "type": "definition", "offset": [72, 86]}, {"key": "eligible-fixed-assets", "type": "clause", "offset": [90, 111]}, {"key": "in-accordance-with", "type": "definition", "offset": [124, 142]}, {"key": "generally-accepted-accounting-principles", "type": "definition", "offset": [143, 183]}, {"key": "sum-of", "type": "clause", "offset": [205, 211]}, {"key": "appraised-value", "type": "definition", "offset": [220, 235]}, {"key": "real-estate", "type": "definition", "offset": [278, 289]}, {"key": "fair-market", "type": "definition", "offset": [295, 306]}, {"key": "machinery-and-equipment", "type": "definition", "offset": [383, 406]}, {"key": "orderly-liquidation", "type": "clause", "offset": [413, 432]}, {"key": "most-recent", "type": "definition", "offset": [457, 468]}, {"key": "by-the-agent", "type": "clause", "offset": [497, 509]}], "snippet": "At the relevant time of reference thereto, the lesser of (i) 50% of the net book value of Eligible Fixed Assets, determined in accordance with generally accepted accounting principles, and (ii) 75% of the sum of (A) the appraised value of Eligible Fixed Assets which constitute Real Estate on a fair market basis and (B) the appraised value of Eligible Fixed Assets which constitute machinery and equipment on an orderly liquidation basis determined by the most recent appraisal thereof conducted by the Agent.", "samples": [{"hash": "aeETOd7qtjo", "uri": "/contracts/aeETOd7qtjo#determined-value", "label": "Revolving Credit Agreement (Transpro Inc)", "score": 18.0, "published": true}], "size": 1, "hash": "c10bb99fbb0d22b782516dfb0207e01f", "id": 5}, {"snippet_links": [{"key": "relevant-time", "type": "definition", "offset": [7, 20]}, {"key": "current-value", "type": "definition", "offset": [57, 70]}, {"key": "loans-outstanding", "type": "clause", "offset": [91, 108]}, {"key": "with-respect-to", "type": "clause", "offset": [109, 124]}, {"key": "repossessed-vehicles", "type": "clause", "offset": [138, 158]}, {"key": "in-accordance-with", "type": "definition", "offset": [171, 189]}, {"key": "generally-accepted-accounting-principles", "type": "definition", "offset": [190, 230]}, {"key": "to-the-extent", "type": "clause", "offset": [232, 245]}, {"key": "lien-or-encumbrance", "type": "clause", "offset": [303, 322]}, {"key": "permitted-lien", "type": "definition", "offset": [334, 348]}, {"key": "the-obligations", "type": "clause", "offset": [362, 377]}, {"key": "indebtedness-secured", "type": "definition", "offset": [397, 417]}, {"key": "the-value", "type": "clause", "offset": [469, 478]}, {"key": "definition-of-the-term", "type": "clause", "offset": [552, 574]}], "snippet": "At the relevant time of reference thereto, the aggregate current value of the Repossession Loans outstanding with respect to the Eligible Repossessed Vehicles, determined in accordance with generally accepted accounting principles. To the extent that any Eligible Repossessed Vehicle is encumbered by a lien or encumbrance which is a Permitted Lien not securing the Obligations, the amount of the Indebtedness secured by such lien or encumbrance shall be deducted from the value determined in accordance with the immediately preceding sentence of this definition of the term \"Determined Value\".", "samples": [{"hash": "330Y1A34Aqs", "uri": "/contracts/330Y1A34Aqs#determined-value", "label": "Revolving Credit Agreement (National Auto Finance Co Inc)", "score": 18.0, "published": true}], "size": 1, "hash": "2f279502cb6a942d7ea1421db0b78d78", "id": 6}, {"snippet_links": [{"key": "relevant-time", "type": "definition", "offset": [7, 20]}, {"key": "lesser-of", "type": "definition", "offset": [47, 56]}, {"key": "net-book-value", "type": "definition", "offset": [65, 79]}, {"key": "eligible-fixed-assets", "type": "clause", "offset": [83, 104]}, {"key": "in-accordance-with", "type": "definition", "offset": [117, 135]}, {"key": "appraised-value", "type": "definition", "offset": [154, 169]}, {"key": "orderly-liquidation", "type": "clause", "offset": [191, 210]}, {"key": "most-recent", "type": "definition", "offset": [235, 246]}, {"key": "pursuant-to-section", "type": "definition", "offset": [275, 294]}, {"key": "provided-that", "type": "clause", "offset": [304, 317]}, {"key": "first-appraisal", "type": "definition", "offset": [329, 344]}, {"key": "as-of-the-closing-date", "type": "clause", "offset": [482, 504]}, {"key": "to-the-extent", "type": "clause", "offset": [542, 555]}, {"key": "lien-or-encumbrance", "type": "clause", "offset": [605, 624]}, {"key": "permitted-lien", "type": "definition", "offset": [636, 650]}, {"key": "the-obligations", "type": "clause", "offset": [664, 679]}, {"key": "indebtedness-secured", "type": "definition", "offset": [699, 719]}, {"key": "the-value", "type": "clause", "offset": [771, 780]}, {"key": "definition-of-the-term", "type": "clause", "offset": [854, 876]}], "snippet": "At the relevant time of reference thereto, the lesser of (a) the net book value of Eligible Fixed Assets, determined in accordance with GAAP, and (b) the appraised value of such assets on an orderly liquidation basis determined by the most recent appraisal thereof conducted pursuant to Section 10.4(i); provided that, until the first appraisal has been completed pursuant to Section 10.4(i), the Determined Value of Eligible Fixed Assets shall be the net book value of such assets as of the Closing Date, determined in accordance with GAAP. To the extent that any Eligible Fixed Asset is encumbered by a lien or encumbrance which is a Permitted Lien not securing the Obligations, the amount of the Indebtedness secured by such lien or encumbrance shall be deducted from the value determined in accordance with the immediately preceding sentence of this definition of the term \"Determined Value\".", "samples": [{"hash": "6rC7j4P7kFs", "uri": "/contracts/6rC7j4P7kFs#determined-value", "label": "Revolving Credit Agreement (First Virtual Communications Inc)", "score": 18.0, "published": true}], "size": 1, "hash": "9c577069827ae8b9a238839e7e05a12d", "id": 7}, {"snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [0, 15]}, {"key": "borrowing-base-equipment", "type": "definition", "offset": [16, 40]}, {"key": "owned-by", "type": "definition", "offset": [41, 49]}, {"key": "as-of-the-closing-date", "type": "clause", "offset": [63, 85]}, {"key": "equal-to", "type": "definition", "offset": [97, 105]}, {"key": "appraised-value", "type": "definition", "offset": [117, 132]}, {"key": "net-orderly-liquidation", "type": "definition", "offset": [153, 176]}, {"key": "after-giving", "type": "clause", "offset": [184, 196]}, {"key": "payment-of-taxes", "type": "clause", "offset": [207, 223]}, {"key": "liquidation-expenses", "type": "definition", "offset": [237, 257]}, {"key": "most-recent", "type": "definition", "offset": [277, 288]}, {"key": "pursuant-to", "type": "definition", "offset": [317, 328]}, {"key": "motor-vehicle-equipment", "type": "definition", "offset": [362, 385]}, {"key": "after-the-closing-date", "type": "clause", "offset": [411, 433]}, {"key": "original-cost", "type": "definition", "offset": [504, 517]}, {"key": "a-purchase", "type": "definition", "offset": [535, 545]}, {"key": "in-the-case", "type": "clause", "offset": [1039, 1050]}, {"key": "the-foregoing", "type": "definition", "offset": [1495, 1508]}, {"key": "in-accordance-with", "type": "definition", "offset": [1564, 1582]}, {"key": "in-clauses", "type": "clause", "offset": [1673, 1683]}, {"key": "rate-of", "type": "clause", "offset": [1886, 1893]}, {"key": "per-month", "type": "clause", "offset": [1918, 1927]}, {"key": "following-the-closing-date", "type": "clause", "offset": [1956, 1982]}, {"key": "date-of-purchase", "type": "definition", "offset": [1990, 2006]}, {"key": "used-trailer", "type": "definition", "offset": [2813, 2825]}], "snippet": "With respect to Borrowing Base Equipment owned by any Borrower as of the Closing Date, an amount equal to 75% of the appraised value of such assets on a net orderly liquidation basis (after giving effect to payment of taxes, charges and liquidation expenses) determined by the most recent appraisal thereof conducted pursuant to \u00a78.4(h), (b) with respect to new Motor Vehicle Equipment acquired by any Borrower after the Closing Date which becomes Borrowing Base Equipment, an amount equal to 75% of the original cost (as reflected by a purchase invoice therefor) of such new Motor Vehicle Equipment, and (c) with respect to used Borrowing Base Equipment acquired by any Borrower after the Closing Date, an amount equal to 75% of the appraised value of such assets on a net orderly liquidation basis (after giving effect to payment of taxes, charges and liquidation expenses) determined by relying on (1) the values assigned to assets of an identical make, model and year in the most recent appraisal conducted pursuant to \u00a78.4(h), or (2) in the case where no asset of an identical make, model and year was appraised in the most recent appraisal conducted pursuant to \u00a78.4(h), on the appraised value on an orderly liquidation basis (after giving effect to payment of taxes, charges and liquidation expenses) assigned to an asset of an identical make and model of the next oldest year that was appraised in the most recent appraisal conducted pursuant to \u00a78.4(h); provided, however, that each of the foregoing calculations shall be adjusted to reflect depreciation in accordance with the following depreciation methods: (i) in the case of Borrowing Base Equipment described in clauses (a) and (b) above, (A) with respect to any tractor owned by any Borrower and constituting Borrowing Base Equipment, the Determined Value of such tractor shall be calculated using a monthly depreciation rate of not less than (x) 1.25% per month for twenty-four (24) months following the Closing Date or the date of purchase, as the case may be, and (y) 0.83% per month thereafter and (B) with respect to any trailer owned by any Borrower and constituting Borrowing Base Equipment, the Determined Value of such trailer shall be calculated using a monthly depreciation rate of not less than 1.0% per month following the Closing Date or the date of purchase, as the case may be, and (ii) in the case of Borrowing Base Equipment described in clause (c) above, (A) with respect to any used tractor acquired by any Borrower after the Closing Date, the Determined Value of such assets shall be calculated using a monthly depreciation rate of not less than (x) 1.25% per month for twenty-four (24) months following the date such used tractor becomes Borrowing Base Equipment and (y) 0.83% per month thereafter and (B) with respect to any used trailer acquired by any Borrower after the Closing Date, the Determined Value of such trailer shall be calculated using a monthly depreciation rate of not less than 1.0% per month following the date such used trailer becomes Borrowing Base Equipment.\u201d", "samples": [{"hash": "cabEem8UOBK", "uri": "/contracts/cabEem8UOBK#determined-value", "label": "Revolving Credit Agreement (Us Xpress Enterprises Inc)", "score": 19.0, "published": true}], "size": 1, "hash": "13e2f7ea4a42a0fea821c1e3c73902da", "id": 8}, {"snippet_links": [{"key": "relevant-time", "type": "definition", "offset": [7, 20]}, {"key": "with-respect-to", "type": "clause", "offset": [47, 62]}, {"key": "eligible-real-estate", "type": "clause", "offset": [63, 83]}, {"key": "appraised-fair-market-value", "type": "definition", "offset": [89, 116]}, {"key": "reference-to", "type": "definition", "offset": [139, 151]}, {"key": "most-recent", "type": "definition", "offset": [156, 167]}, {"key": "pursuant-to-ss", "type": "clause", "offset": [186, 200]}, {"key": "eligible-machinery-and-equipment", "type": "definition", "offset": [231, 263]}, {"key": "appraised-value", "type": "definition", "offset": [269, 284]}, {"key": "orderly-liquidation", "type": "clause", "offset": [323, 342]}], "snippet": "At the relevant time of reference thereto, (a) with respect to Eligible Real Estate, the appraised fair market value thereof determined by reference to the most recent appraisal thereof pursuant to ss.9.9.4 and (b) with respect to Eligible Machinery and Equipment, the appraised value of such machinery and equipment on an orderly liquidation basis determined by reference to the most recent appraisal conducted pursuant to ss.", "samples": [{"hash": "bIZS5aedWAw", "uri": "/contracts/bIZS5aedWAw#determined-value", "label": "Revolving Credit Agreement (CML Group Inc)", "score": 18.0, "published": true}], "size": 1, "hash": "3a7bf1b4a9cfc3fc0eb01c85716ec2d4", "id": 9}, {"snippet_links": [{"key": "relevant-time", "type": "definition", "offset": [7, 20]}, {"key": "lesser-of", "type": "definition", "offset": [47, 56]}, {"key": "net-book-value", "type": "definition", "offset": [65, 79]}, {"key": "eligible-fixed-assets", "type": "clause", "offset": [83, 104]}, {"key": "in-accordance-with", "type": "definition", "offset": [117, 135]}, {"key": "appraised-value", "type": "definition", "offset": [154, 169]}, {"key": "forced-liquidation", "type": "clause", "offset": [188, 206]}, {"key": "most-recent", "type": "definition", "offset": [231, 242]}, {"key": "pursuant-to", "type": "definition", "offset": [271, 282]}], "snippet": "At the relevant time of reference thereto, the lesser of (a) the net book value of Eligible Fixed Assets, determined in accordance with GAAP, and (b) the appraised value of such assets on forced liquidation basis determined by the most recent appraisal thereof conducted pursuant to ss.8.4(h).", "samples": [{"hash": "gcH4Xw5fadZ", "uri": "/contracts/gcH4Xw5fadZ#determined-value", "label": "Revolving Credit, Tranche B Loan and Security Agreement (Mayors Jewelers Inc/De)", "score": 18.0, "published": true}], "size": 1, "hash": "0af7968d846cd3c7c09d15c8a38ad738", "id": 10}], "next_curs": "ClkSU2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjULEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhlkZXRlcm1pbmVkLXZhbHVlIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"size": 19, "parents": [["sale-of-warrant-to-company-right-to-put", "Sale of Warrant to Company Right to Put"], ["determined-value", "Determined Value"]], "children": [["determined-value", "Determined Value"]], "title": "Determined Value", "id": "determined-value", "related": [["appraised-value", "Appraised Value", "Appraised Value"], ["market-value-adjustment", "Market Value Adjustment", "Market Value Adjustment"], ["market-value", "Market Value", "Market Value"], ["target-fair-market-value", "Target Fair Market Value", "Target Fair Market Value"], ["fair-market-value", "Fair Market Value", "Fair Market Value"]], "related_snippets": [], "updated": "2025-07-07T12:37:48+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The \"Determined Value\" clause establishes a method for calculating or agreeing upon the value of an asset, service, or obligation within a contract. Typically, this clause outlines the process for valuation, such as referencing an independent appraiser, using a specific formula, or relying on market benchmarks. By providing a clear mechanism for determining value, the clause helps prevent disputes and ensures both parties have a mutual understanding of how key figures will be established during the contract's performance or upon termination."}, "json": true, "cursor": ""}}