FAIR VALUE PER UNIT definition
FAIR VALUE PER UNIT means, as of any date of determination, the fair value of each Unit (or, with respect to a warrant or option, the fair value of each Unit obtainable upon exercise thereof net of the exercise price), determined as follows:
FAIR VALUE PER UNIT has the meaning ascribed thereto in the Plan.
FAIR VALUE PER UNIT means, as of any date of determination, the fair value of each Unit (or, with respect to a warrant or option, the fair value of each Unit obtainable upon exercise thereof net of the exercise price), determined as follows: At any time that the Fair Value Per Unit shall be required to be determined hereunder, the Board of Managers of the Company (the "Board") shall make a good faith determination (the "Board's Determination") of the fair value of each Unit within 30 days of the delivery by the Company of a Repurchase Notice (without taking into account that the Units may be "restricted securities" but with a reasonable discount, not to exceed 20% for the minority position represented by the Units and shall provide to the Management Member with respect to whose Unit such determination is being made a written notice thereof which notice shall set forth supporting data in respect of such calculation (the "Determination Notice"). The Management Member shall have 10 days following receipt of the Determination Notice within which to deliver to the Company a written notice (the "Objection Notice") of an objection, if any, to the Board's Determination, which Objection Notice shall set forth the Management Member's good faith determination (the "Member's Determination") of the fair value of each Unit. The failure by the Management Member to deliver the Objection Notice within such 10-day period shall constitute the Management Member's acceptance of the Board's Determination as conclusive. In the event of the timely delivery of an Objection Notice, the Company and the Management Member shall attempt in good faith to arrive at an agreement with respect to the Fair Value Per Unit, which agreement shall be set forth in writing within 15 days following delivery of the Objection Notice. If the Company and the Management Member are unable to reach an agreement within such 15-day period, the matter shall be promptly referred for determination to a regionally or nationally recognized investment banking or valuation firm (the "Valuer") reasonably acceptable to the Company and the Management Member. The Company and the Management Member will cooperate with each other in good faith to select such Valuer. The Valuer may select the Board's Determination or the Management Member's Determination as the Fair Value Per Unit or may select any other number or value (determined without taking into account that the Units may be "restricted securities" but with a reasonable discount, not t...