Property Distribution Sample Clauses
Property Distribution. Whenever the distribution provided --------------------- for in this Section 3 shall be payable in property other than cash, its value will be deemed its fair market value, as determined in good faith by the Board of Directors of this corporation. Any securities shall be valued as follows:
(i) Securities not subject to investment letter or other similar restrictions on free marketability:
(A) If traded on a securities exchange or through the Nasdaq National Market, the value shall be deemed to be the average of the closing prices of the securities on such exchange over the thirty-day period ending three (3) days prior to the closing;
(B) If actively traded over-the-counter, the value shall be deemed to be the average of the closing bid or sale prices (whichever is applicable) over the thirty-day period ending three (3) days prior to the closing; and
(C) If there is no active public market, the value shall be the fair market value thereof, as mutually determined in good faith by the Board of Directors of this corporation and the holders of at least a majority of the voting power of all then outstanding shares of Series A Preferred Stock.
(ii) The method of valuation of securities subject to investment letter or other restrictions on free marketability (other than restrictions arising solely by virtue of a shareholder's status as an affiliate or former affiliate) shall be to make an appropriate discount from the market value determined as above in (i)(A), (B) or (C) to reflect the approximate fair market value thereof, as mutually determined in good faith by the Board of Directors of this corporation and the holders of at least a majority of the voting power of all then outstanding shares of such Series A Preferred Stock.
Property Distribution. With respect to each type or class of non-cash --------------------- property held in the Trust on or after Executive's date of Employment termination, Executive shall have the right to elect in writing to receive the distribution of all or part of such property. To the extent that Executive has not so elected to receive distribution of all or part of such property by the 30th day immediately following his date of Employment termination, all such property shall be liquidated by the Trustee and the cash liquidation amount thereof shall be distributed in accordance with this Section 3.01.
Property Distribution. Upon termination of this Agreement, any money or asset derived from the payment of dues or fees under this Agreement, including operations and capital fund balances, and held by the Administering Member shall, after payment of all liabilities, costs, expenses, and charges validly incurred under this Agreement, be returned to all contributing Members in proportion to their assessment determined at the time of termination.
Property Distribution. SF III-Broadway, LLC, a Delaware limited liability company, KCI-Broadway, LLC, a Delaware limited liability company, SDM-Broadway, LLC, a Delaware limited liability company, Belmont-Broadway, LLC, a Delaware limited liability company, ▇▇▇▇▇-▇▇▇▇▇▇-Broadway, LLC, a Delaware limited liability company, Italian Pavillions-Broadway, LLC, a Delaware limited liability company, and Kasun-Broadway, LLC, a Delaware limited liability company (each a "Co-Tenant", and together with ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, LLC, the "Co-Tenants"), are parties to this Agreement because (i) Seller is in the process of distributing an undivided interest to each of the Co-Tenants, as set forth in Section 20 hereof, and (ii) to the extent, prior to the Closing, each Co-Tenant actually receives an interest in the Property in accordance with such distribution, such Co-Tenant will be a record owner of the Property together with ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, LLC (with respect to any retained interest in the Property).
Property Distribution. Further, the parties intend that in the event they dissolve their Domestic Partnership, neither will make any claim, to any property that the other owns other than as set forth in this Agreement. The parties intend that in the event of dissolution of the domestic partnership, any property acquired with joint assets shall be divided equally between them.
Property Distribution. On the Distribution Date and subject to the Distribution Conditions, the Partnership desires to distribute the Property to HACLA LLC, and HACLA LLC desires to accept the Property. The distribution of the Property will be completed through an escrow (“Escrow”) to be opened with Fidelity National Title Insurance Company (“Title Company or "Escrow Agent”).