Book Value. Book Value" shall mean the value of an asset or assets of the Trust on the books of the Trust before provision for amortization or depreciation, and before deducting any indebtedness or other liability in respect thereto, except that no asset shall be valued at more than its fair value as determined by the Board of Trustees.
Appears in 4 contracts
Samples: Agreement and Declaration (United Mortgage Trust), Agreement and Declaration of Trust (United Mortgage Trust), Agreement and Declaration (United Mortgage Trust)
Book Value. Book Value" of an asset or assets shall mean the value of an such asset or assets of the Trust on the books of the Trust before provision Trust, without deduction for amortization or depreciation, and before deducting any indebtedness depreciation or other liability in respect theretoasset valuation reserves and without deduction for mortgages or other security interests to which such asset or assets are subject, except that no asset shall be valued at more than its fair market value as determined by the Board of Trustees.
Appears in 2 contracts
Samples: Standstill Agreement (American Realty Trust Inc), Agreement and Plan of Merger (American Realty Trust Inc)
Book Value. Book Value" of an asset or assets shall mean the value of an such asset or assets of the Trust on the books of the Trust Trust, before provision for amortization amortization, depreciation or depreciation, depletion and before deducting any indebtedness or other liability in respect theretoof such asset or assets, except that no asset shall be valued at more than its fair market value as determined by the Board of Trustees.
Appears in 1 contract
Samples: Mortgage & Realty Trust
