Initial Book Value definition

Initial Book Value means, with respect to Property contributed to the Company by an Interest Holder, the Property's fair market value at the time of contribution and, with respect to all other Property, the Property's adjusted basis for federal income tax purposes at the time of acquisition.

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Initial Book Value means the Book Value per Share as at December 31, 1996 (taking into account the consummation of the transactions contemplated in the Subscription Agreement and the acquisition of Rockwood Casualty Insurance Company).

Initial Book Value means, with respect to Property contributed to the Company by a Member, the Property’s fair market value at the time of contribution and, with respect to all other Property, the Property’s adjusted basis for federal income tax purposes at the time of acquisition.

Examples of Initial Book Value in a sentence

In the event the applicable Seller’s Initial Book Value is greater than its Closing Date Book Value, then such Seller shall promptly pay to the applicable Purchaser the difference between the Initial Book Value and the Closing Date Book Value.
In the event the Closing Date Book Value is greater than the book value of the applicable Seller’s investment in WIC on October 1, 2005 (“Initial Book Value”) then the applicable Purchaser will promptly pay to the applicable Seller the difference between the Closing Date Book Value and the Initial Book Value.
At the Closing, the Cash Amount shall be reduced by the amount of the Initial Book Value Adjustment (if less than $0) and the Cash Amount shall be further reduced by the amount, if any, that the cash portion of the Acquired Assets is less than the Customer Deposits portion of the Assumed Liabilities.
To the extent that Estimated Initial Book Value is greater (or less) than $19.5 million, the Purchase Price will be increased (or decreased) by the amount of such difference.
Since the guarantees of the Borrower and CLP are fully secured by the OP Units, the contingent liability of the Borrower and CLP for such guarantees shall be limited to fifty percent (50%) of the Initial Book Value of the OP Units ("EUPP Liability").
The Initial Book Value of any assets contributed by a Member to the Company shall be the gross fair market value of such assets at the time of such contribution.
The Borrower consummated with Bank One, NA ("Bank One") an Executive Unit Purchase Program ("EUPP") dated December 17, 1999, and funded on January 25, 2000, in the aggregate amount of $9,864,423 (the "Initial Book Value") providing financing to certain executives and Trustees of the Board of Directors of the Borrower who qualify to purchase redeemable Operating Purchase Units ("OP Units") of the Borrower pursuant to the EUPP.
However, if the fair market value of the OP Units at any time is less than or equal to fifty (50%) of the Initial Book Value of the OP Units, then the EUPP Liability for such guarantees shall be increased to one hundred percent (100%) of the Initial Book Value of the OP Units.
Any adjustments to the Cash Amount pursuant to this subsection by reason of the Initial Book Value Adjustment and any shortfall of the cash portion of the Acquired Assets being less than the Customer Deposits portion of the Assumed Liabilities shall be made in accordance with Section 1.04(a).
The Cash Amount payable to the Company shall be reduced by: (i) any Initial Book Value Adjustment (as defined below) (if less than $0), and (ii) any amounts by which the cash portion of the Acquired Assets is less than the Customer Deposits portion of the Assumed Liabilities.

More Definitions of Initial Book Value

Initial Book Value means (i) with respect either to any Company asset contributed to the Company by a Member, or to any asset revalued for book purposes pursuant to Section 6.7, the fair market value of the asset determined as of the date of contribution or revaluation, as the case may be, or (ii) with respect to any other Company asset, the cost of the asset to the Company. For greater certainty, the Initial Book Value of any real estate acquired by the Company will be the actual acquisition cost to the Company on the acquisition date including all applicable real estate commissions, closing costs, expenses and taxes incurred in the acquisition.

Initial Book Value means the total shareholder equity of the Company as of December 31, 1989 as stated in the Company's financial statements prepared by an independent qualified public accountant.