Common use of Normal Valuation Clause in Contracts

Normal Valuation. For the purposes of this Agreement, the value of any security of ▇▇▇▇▇▇ as of the date of distribution to the Members (or, in the event such date is a holiday or other day which is not a business day, as of the next preceding business day) will be determined as follows: (a) a security which is listed on a recognized securities exchange or the National Market System will be valued at its last sales price or, if no sale occurred on such date, at the last "bid" price; and (b) a security which is traded on the Nasdaq Bulletin Board will be valued at its last sales price or, if no sale occurred on such date, at the last "bid" price; (c) a security which is traded over-the-counter (other than on the National Market System or the Nasdaq Bulletin Board) will be valued at the last "bid" price; and (d) all other securities will be valued on such date by the Managing Member at fair market value in such manner as it may reasonably determine.

Normal Valuation. For the purposes of this Agreement, the value of any security of ▇▇▇▇▇▇ GEOK as of the date of distribution to the Members (or, in the event such date is a holiday or other day which is not a business day, as of the next preceding business day) will be determined as follows: (a) a security which is listed on a recognized securities exchange or the National Market System will be valued at its last sales price or, if no sale occurred on such date, at the last "bid" price; and (b) a security which is traded on the Nasdaq Bulletin Board will be valued at its last sales price or, if no sale occurred on such date, at the last "bid" price; (c) a security which is traded over-the-counter (other than on the National Market System or the Nasdaq Bulletin Board) will be valued at the last "bid" price; and (d) all other securities will be valued on such date by the Managing Member at fair market value in such manner as it may reasonably determine.