Net Concession Value definition

Net Concession Value means the Gross Concession Value less unamortized "Improvement Costs" (as hereinafter defined) expended by Concessionaire as of the Valuation Date and, in the event of an Outright Sale, "Documented Transaction Costs" (as hereinafter defined) in connection with such Outright Sale. In the event that County elects to designate a Valuation Date, County shall notify Concessionaire of the Valuation Participation determined by its appraiser within thirty (30) days after its receipt from such appraiser. Any disputes regarding the Gross Concession Value or Net Concession Value shall be resolved by arbitration as provided in the Agreement. Prior to the arbitration, Concessionaire shall cause an appraiser to conduct a valuation using the Valuation Date designated by County and the appraisal standards set forth above. Concessionaire and County shall negotiate in good faith, after Concessionaire has notified County of the Valuation Participation as determined by Concessionaire's appraiser, for a period of no less than thirty (30) days to resolve any disputes regarding Gross Concession Value and Net Concession Value prior to initiating the arbitration procedure. All appraisals or valuations submitted or otherwise offered into evidence by County or Concessionaire in any such arbitration procedure must meet the standards set forth herein for Written Appraisal Evidence. Notwithstanding the foregoing, In the event that (whether before or after the seventy ninth (79th) month of the Term), prior to the occurrence of an Outright Sale County elects to designate a Valuation Date upon the occurrence of the Outright Sale, the Gross Concession Value shall be deemed to be the total consideration paid in connection with the Outright Sale, and the Valuation Participation payments shall commence on the first day of the first calendar month immediately following the closing of the Outright Sale Transaction. County may elect to cause an appraisal of the concession within nine (9) months after the occurrence of the Outright Sale as provided above, in which event the remaining Valuation Participation payments may be increased to reflect the Gross Concession Value as determined by the appraiser. Disputes regarding the appraiser's conclusions shall be resolved by arbitration as provided above.
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Related to Net Concession Value

  • Transaction Value : means the actual contract value (the bid sum or price) in South African currency, inclusive of all applicable taxes in respect of the goods, services or construction works that are contracted for.

  • Capitalization Value means the sum of (i) Combined EBITDA capitalized at an annual interest rate equal to 8.25%, and (ii) Cash and Cash Equivalents, and (iii) Construction Asset Cost.

  • Disposition Value means, at any time, with respect to any property

  • Unencumbered Asset Value means, at any time for the Consolidated Group, without duplication, the sum of the following: (a) an amount equal to (i) Unencumbered NOI from all Unencumbered Properties (other than Non-Stabilized Properties and acquisition properties described in clause (b) below) that have been owned by the Consolidated Group for four full fiscal quarter periods or longer (which amount for each individual Unencumbered Property as well as the aggregate amount for all Unencumbered Properties shall not be less than zero) divided by (ii) the Capitalization Rate, plus (b) the aggregate acquisition cost of all Unencumbered Properties acquired during the then most recently ended four fiscal quarter period, plus (c) the undepreciated book value of Unencumbered Properties that are Non-Stabilized Properties; provided that if the Unencumbered Asset Value attributable to Non-Stabilized Properties accounts for more than 15% of Unencumbered Asset Value, the amount of undepreciated book value of such Non-Stabilized Properties that exceeds such limit shall be deducted from Unencumbered Asset Value, plus (d) cash from like-kind exchanges on deposit with a qualified intermediary (“1031 proceeds”), plus (e) the value of Mezzanine Debt Investments and Mortgage Receivables owned by the Consolidated Group that are not more than ninety (90) days past due determined in accordance with GAAP, in each case that are not subject to a Lien or Negative Pledge; provided that if the Unencumbered Asset Value attributable to Mezzanine Debt Investments and Mortgage Receivables accounts for more than 10% of Unencumbered Asset Value, the amount of Mezzanine Debt Investments and Mortgage Receivables that exceeds such limit shall be deducted from Unencumbered Asset Value, plus (f) the undepreciated book value of all Unimproved Land and Construction in Progress owned by the Consolidated Group to the extent any such assets are not subject to a Lien or Negative Pledge, plus (g) Balance Sheet Cash; provided that, to the extent that Unencumbered Asset Value attributable to investments in Mezzanine Debt Investments, Mortgage Receivables, 1031 proceeds, Unimproved Land, and Construction in Progress account for more than 25% of Unencumbered Asset Value, in the aggregate, the amount that exceeds such limit shall be deducted from Unencumbered Asset Value. For clarification purposes, in determining whether clause (a) or clause (b) above applies, the date a Property will be deemed to have been acquired is the date it was acquired by the Consolidated Group or any prior Affiliate of the Consolidated Group.

  • Contribution Value shall have the meaning set forth in Section 2.02 of the Contribution Agreement.