Independent Value definition
Independent Value means the value of a Participating Interest determined in accordance with clause 16.12(3)(a).
Examples of Independent Value in a sentence
If (other than in clause 16.12) the Agreement requires that the Independent Value be determined, then the Independent Value must be determined by applying, with all necessary changes as the circumstances may require, the procedures set out in clause 16.12.
Except where expressly provided otherwise in the Agreement, the costs and expenses of determining the Independent Value must be paid by the Defaulting Participant.