Open Market Value definition

Open Market Value means the value which a property might reasonably be expected to realise if sold in the open market by a prudent vendor;

Open Market Value means, in relation to a supply of goods or services, or to goods that are imported, the amount (together with the GST chargeable on the supply or the importation) that would be payable for the supply or the goods if the supply or importation were for such a consideration in money as would be payable, for the supply or the importation, by a person standing in no such relationship with any person as would affect that consideration;

Open Market Value means the price at which the Premises may be assigned at arm's length in the open market disregarding the terms of any proposed subletting and assuming: a willing seller and willing buyer; a reasonable period in which to market the Premises; that values remain static throughout this period; that the price does not reflect any value attributable to the Tenant's business carried on at the Premises; that the price does not reflect any value attributable to tenant's or trade fixtures at the Premises that the Tenant is entitled to remove on quitting the Premises; and that the Premises are in their actual state of repair and condition at the date of the Tenant's Notice but subject to the terms of this Lease;]158

Examples of Open Market Value in a sentence

• In respect of non-operational properties, including surplus land, the valuations have been carried out at Open Market Value.

• The Independent Valuer, whose Valuation Report is set out in Annexure 1, has determined that the Time Projects Portfolio has an Open Market Value of P372 010 000.

• The net amount due to Time Projects, being the Open Market Value less the Associated Debt, of P194 893 435 will be settled by way of the Consideration, comprising 111 367 677 new Linked Units at the Rights Offer price per Linked Unit of P1.75.

• The total gross rental for the first year of the Contractual Term amounted to RM14.07 million, derived based on the following: (i) 6.25% of the Open Market Value for KMC, KPJ Perdana and KPJ Kajang; and (ii) 6.00% of the Open Market Value for KPJ Sentosa and Kuantan CWC.

• The purchase price as set out in the Exempt Part B report is at the Open Market Value for the 38 affordable homes and for granting the pedestrian easement.

More Definitions of Open Market Value

Open Market Value means the following:

Open Market Value means the price which 100% of the [freehold] or [long leasehold] interest in the Affordable Dwelling would fetch if sold on the open market by a willing vendor and disregarding the obligations and restrictions contained in this Deed and approved by the Council;

Open Market Value means the price which the Dwelling would fetch on the open market by a willing vendor to a willing purchaser unfettered by the terms of this Agreement with that value being the average of no less than two written valuations obtained by the Owner from two Valuers

Open Market Value means the value as determined by an Independent Valuer to be the price at which the lease can reasonably be sold on the date of valuation taking into account the Assumptions

Open Market Value means the value of the Building as determined on the basis of a valuation by the Valuer of the market value as that term is defined in the then current Statement of Asset valuation Practice and Guidance Notes issued by the Royal Institution of Chartered Surveyors, as the Building is comprised in the Headlease and the Operating Lease and is subject to the terms of the Occupational Leases, the Management Agreement and the Non-Disturbance Agreement.

Open Market Value means market value of the relevant Low Cost Market Unit assessed in accordance with the Appraisal and Valuation Manual of the Royal Institute of Chartered Surveyors (the Red Book) current for the time being

Open Market Value means the price at which similar goods of comparable quality and quantity are sold by a supplier to an unrelated person in an arm’s-length transaction.