Common use of Net Agreed Value Clause in Contracts

Net Agreed Value. (i) In the case of cash, the amount thereof, (ii) in the case of Contributed Property, the fair market value of such property at the time of the contribution, reduced by any indebtedness either assumed by the Company upon such contribution or to which such property is subject at the time of the contribution, and (iii) in the case of property distributed to a Member, the fair market value of such property at the time of the distribution, reduced by any indebtedness either assumed by the Member upon such distribution or to which such property is subject at the time of distribution.