Valuation of Units. The net asset value (the "Net Asset Value") of the Units shall be determined by the Trustees or their designees each day that the New York Stock Exchange is open, as of the close of trading on the Exchange, New York City time, under policies and procedures as may be approved from time to time by the Trustees. Such value when so determined shall be taken as the value thereof for all purposes of this Agreement and shall be binding and final upon the Unitholders, their personal representatives, heirs, legatees, distributees, and beneficiaries.
Valuation of Units. (a) If the Members seek to determine the Fair Market Value of any Units (prior to a Qualified IPO) pursuant to the provisions of this Agreement referencing this Section 9.05, then Echo (provided, that H&F shall have the right to negotiate Fair Market Value on behalf of Echo in the event that (i) the Sponsor Shareholders are not participating in a Transfer giving rise to such Fair Market Value determination or (ii) H&F shall have the right to receive all cash or marketable securities as consideration in the Transfer giving rise to such Fair Market Value determination) and the MCK Members shall negotiate in good faith for fifteen (15) days to determine the Fair Market Value of such Units, as applicable. If Echo and the MCK Members are not able to agree on the applicable Fair Market Value prior to such 15th day, each shall select an Appraiser within five (5) Business Days thereafter. Within thirty (30) days after the selection of such Appraisers, each Appraiser so selected shall independently determine the Fair Market Value of such Units as of the date of notice of any sale or issuance requiring such determination of Fair Market Value (each, an “Initial Appraised Value”). If the two Initial Appraised Values differ from each other by 10% or less (based on the lower Initial Appraised Value), then the Fair Market Value of such Units shall be deemed to be the average of such Initial Appraised Values. If the two Initial Appraised Values differ from each other by more than 10% (based on the lower Initial Appraised Value), then the two initial Appraisers shall, within five (5) Business Days following such calculation, jointly select a third Appraiser. Within twenty one (21) days after the selection of such third Appraiser, such third Appraiser shall determine the Fair Market Value of such Units as of the date of notice of any sale or issuance requiring such determination of Fair Market Value, as applicable (the “Subsequent Appraised Value”), which Subsequent Appraised Value shall not be more than the greater of the two Initial Appraised Values nor less than the lower of the two Initial Appraised Values. If a third Appraiser is selected pursuant to this Section 9.05, the Fair Market Value of such Units shall be deemed to be the Subsequent Appraised Value.
Valuation of Units. On the date of the initial contribution of capital to the Company by the Members (the "Initial Contribution Date"), each Unit shall have a value determined on the applicable Valuation Date. As of each Valuation Date, the value of a Unit shall be determined by dividing the Net Asset Value of the Company by the total number of Units outstanding. For this purpose, the Net Asset Value shall be as defined in Section 15.3.
Valuation of Units. The General Partner shall determine the Net Asset Value and the Net Asset Value Per Unit as of 5:00 p.m. (Toronto time) on each Fiscal Quarter Date within ten business days of the Fiscal Quarter Date. In the event that there are more than one class and/or series of Units outstanding, the Net Asset Value per Unit will be calculated separately for each class and/or series, as the case may be, of Units issued.
Valuation of Units. 16 Section 8.3 Classes of Units..........................................16 Section 8.4 Subdivision and Combination of Units......................17 Section 8.5 Rights of Members.........................................17
Valuation of Units. The Members agree that the value of the Company for the purposes of valuing the Units described in Sections 6.4, 6.5, 6.6, & 6.14 (e) herein shall be equal to ONE HUNDRED PERCENT (100%) of the Company's Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for each of the five fiscal years ending after the effective date of the event giving rise to the valuation. The value of a Member's interest under Sections 6.4, 6.5, 6.6, & 6.14 (e) shall be the product of: (i) the Member's percentage holdings of Units as of the event giving rise to the valuation; and (ii) the value of the Company for each of the five fiscal years ending after the effective date of the event giving rise to the valuation. The value of the Member's Units for each fiscal year shall be determined by the Company's accountant.
Valuation of Units. The "Fair Market Value" of each Unit shall be the fair value of each such Unit determined in good faith by the Manager as of the date of valuation.
Valuation of Units. For the first two (2) full fiscal years following the termination of the offering, the value of a Unit will be deemed to be $500, and no valuations will be performed. Thereafter the estimated value of each Unit will be determined annually based upon the estimated amount a Unitholder would receive if all of the Fund’s assets were sold as of the close of the Fund’s fiscal year for their estimated values and if such proceeds, without reduction for selling expenses, together with the other assets of the Fund, were distributed in liquidation of the Fund. Such estimated values will be based upon annual valuations of Fund properties performed by the Managing Member, but no independent appraisals will be obtained.
Valuation of Units. The “Fair Market Value” of each Unit means the fair value of such Unit determined in good faith by the Board based on the portion of the Total Equity Value to which each Unit would be entitled upon a liquidation of the Company pursuant to Section 8.5, but assuming an all-cash sale without any adjustment on account of any lack of liquidity, minority discount, lack of control and/or restriction on transferability of any securities or any other comparable valuation discounts.
Valuation of Units. The “Fair Market Value” of each Unit means the fair value of each Unit based on the portion of the Total Equity Value to which each Unit would be entitled upon a liquidation of the Company pursuant to Section 8.02 of the Agreement, assuming an all-cash sale and taking into account the total fair market value of the Company, which shall include the value of the Company’s indirect interest in HoldCo and its subsidiaries, as adjusted for any assets or liabilities existing at Trilogy REIT or the Company that are not reflected in the valuation of HoldCo and less the minority interest in Trilogy REIT to be held by holders of preferred ownership interests in Trilogy REIT. The Fair Market Value of each Unit shall be mutually agreed to by NHI and GAHR3 for so long as each remains a Qualifying Member and GAHR4 if it becomes a Qualifying Member and is not an AHI Managed Company.
