Calculation of net asset value per share
1) Securities that are officially listed on a stock exchange shall be valued at the last available price. If a security is officially listed on several stock exchanges, then the last available price on the stock exchange which is the main market for this security shall prevail.
2) Securities which are not officially listed on any stock exchange but are traded on a market open to the public shall be valued at the last available price.
3) Securities or money market instruments with a residual term of less than 397 days may be depreciated or amortized [attributed, imputed] according to the linear method, using the difference between the original price (purchase price) and the repayment price (price at final maturity). Valuation at the current market price may cease if the repayment price is known and fixed. Any changes to creditworthiness are also taken into account;
4) Investments whose price is not in line with the market and those assets that are not covered by Items 1, 2 and 3 above are calculated at the price that would probably have been achieved in a diligent purchase at the time of valuation and that is defined in good faith by the executive board of the management company or under their guidance and supervision by representatives).
5) OTC derivatives shall be valued on a daily basis at a valuation to be set and verified by the management company, as stipulated in good faith by the management company and according to the generally accepted valuation models verifiable by auditors on the basis of the likely achievable sales value.
6) UCITS and/or other undertakings for collective investments shall be valued at the last established and available redemption price. If redemption of the shares is suspended or if no redemption prices are specified, then these shares shall be valuated just like all other assets at the respective fair market value, as stipulated in good faith by the management company and according to the generally accepted valuation models verifiable by auditors.
7) If no tradable price is available for the respective assets, then these assets – just like the other legally permitted assets – shall be valuated at the respective fair market value as stipulated in good faith by the management company and according to the generally accepted valuation models verifiable by auditors on the basis of the likely achievable sales value.
8) The liquid assets shall be valued at their nominal value plus accrued interest.
9) The market...
Calculation of net asset value per share
Calculation of net. Asset Value of a Series. Net Asset Value of a Series will be estimated as required. Upon request, on any Business Day, the Managing Owner shall make available to any Limited Owner the estimated Net Asset Value of a Series per Interest. Each Limited Owner shall be notified of any decline in the estimated Net Asset Value of a Series per Interest to less than 50% of the Net Asset Value of a Series per Interest as of the last day of the preceding month within seven (7) Business Days of such occurrence. Included in such notification shall be a description of the Limited Owners' voting rights as set forth in Section 8.2 hereof.
Calculation of net. REVENUES
1.1 The Net Revenues for the 1998 and 1999 calendar years ("the Relevant Calendar Years") shall be such sum as shall be agreed or determined pursuant to this Schedule as the revenues derived from the Business for each Relevant Calendar Year calculated as set out in paragraph 2 (Calculation of Net Revenues).
1.2 For the 1998 calendar year, the Purchaser will pay to the Seller by way of Deferred Consideration the sum of (Pounds)250,000 provided that if the Net Revenues for such Relevant Calendar Year are less than (Pounds)8,850,000 then this Deferred Consideration shall be the sum of (Pounds)X, where X = (A / 1,261,000) x 250,000, A being the amount by which such Net Revenues exceed (Pounds)7,589,000 (and if such Net Revenues are equal to or less than (Pounds)7,589,000, this Deferred Consideration shall be nil). Any payment due to the Seller from the Purchaser pursuant to this paragraph 1.2 shall be paid by the Purchaser on the Determination Date for such Net Revenues together with interest thereon from 31 January 1999 to the date of payment at the rate of 3% above the base rate of Barclays Bank Plc from time to time.
1.3 For the 1999 calendar year, the Purchaser will further pay to the Seller by way of Deferred Consideration the sum of (Pounds)350,000 provided that if the Net Revenues for such Relevant Calendar Year are equal to or exceed (Pounds)8,000,000 but are less than (Pounds)9,350,000 this Deferred Consideration shall be the sum of (Pounds)100,000 plus the sum of (Pounds)Y, where Y = (B / 1,350,000) x 250,000. B being the amount by which such Net Revenues exceed (Pounds)8,000,000 (and if such Net Revenues are less than (Pounds)8,000,000 this Deferred Consideration shall be nil). Any payment due to the Seller from the Purchaser to this paragraph 1.3 shall be paid by the Purchaser on the Determination Date for such Net Revenues together with interest thereon from 30 January 2000 until the date of payment at the rate of 3% above the base rate of Barclays Bank Plc from time to time.
(a) To incentivise the Seller to continue existing trading relationships the Purchaser shall further pay to the Seller in respect of Know-how an amount equal to ten per cent of Net Revenues of all sales by the Purchaser to the Seller, Card Key Systems Inc and Card Key Systems Limited made in each of the Relevant Calendar Years ("Card Key Sales").
(b) Any payment due to the Seller from Purchaser pursuant to this paragraph 1.4(a) shall be paid by the Purchaser within 5...
Calculation of net. Working Capital at October 26, 1996 EXHIBITS --------
Calculation of net asset value per share
a) Securities that are officially listed on a stock exchange shall be valued at the last available price. If a security is officially listed on several stock exchanges, then the last available price on the stock exchange which is the main market for this security shall prevail.
b) Securities which are not officially listed on any stock exchange but are traded on a market open to the public shall be valued at the last available price.
c) Securities or money market instruments could be valuated according to the amortization method under the requirements described in the Trust Agreement.
d) Investments whose price is not in line with the market and those assets that are not covered by Items 1, 2 and 3 above are calculated at the price that would probably have been achieved in a diligent purchase at the time of valuation and that is defined in good faith by the executive board of the management company or under their guidance and supervision by representatives).
