Determination of Appraised Value. For purposes of this Article 7, the appraised value (“Appraised Value”) of the assets of the Company shall be determined by one (1) or more independent Qualified Appraisers. The Non-Defaulting Member shall select one (1) Qualified Appraiser and shall include such selection in the Default Notice. Within fifteen (15) days following the Effective Date of the Default Notice, the Defaulting Member shall either agree to the Qualified Appraiser selected by the Non-Defaulting Member or select a second (2nd) Qualified Appraiser and give written notice to the Non-Defaulting Member of the person so selected. If either the Non-Defaulting Member or the Defaulting Member fails to appoint a Qualified Appraiser within the time period specified and after the expiration of five (5) days following the Effective Date of written demand that a Qualified Appraiser be appointed, the Qualified Appraiser duly appointed by the Member making such demand to appoint such Qualified Appraiser shall proceed to make the appraisal as herein set forth, and the determination thereof shall be conclusive on all the Members. The Qualified Appraiser or the two (2) Qualified Appraisers, as the case may be, shall promptly fix a time for the completion of the appraisal, which shall not be later than thirty (30) days from the Effective Date of the appointment of the last Qualified Appraiser. The Qualified Appraiser(s) shall determine the Appraised Value by determining the fair market value of the assets of the Company, such being the fairest price estimated in the terms of money which the Company could obtain if the assets of the Company were sold, for all cash, in the open market allowing a reasonable time to find a purchaser. Upon submission of the appraisals setting forth the opinions as to the Appraised Value of the assets of the Company, the average of the two (2) appraisals shall constitute the Appraised Value of the assets of the Company for purposes of this Article 7.
Determination of Appraised Value. For purposes of this Article 7 and Section 6.05, the appraised value (“Appraised Value”) of the assets of the Company shall be determined by one (1) or more independent Qualified Appraisers. The Non-Defaulting Member shall select one (1) Qualified Appraiser and shall include such selection in the Default Notice. Within fifteen (15) days following the Effective Date of the Default Notice, the Defaulting Member shall either agree to the Qualified Appraiser selected by the Non-Defaulting Member or select a second (2nd) Qualified Appraiser and give written notice to the Non-Defaulting Member of the person so selected. If either the Non-Defaulting Member or the Defaulting Member fails to appoint a Qualified Appraiser within the time period specified and after the expiration of five (5) days following the Effective Date of written demand that a Qualified Appraiser be appointed, the Qualified Appraiser duly appointed by the Member making such demand to appoint such Qualified Appraiser shall proceed to make the appraisal as herein set forth, and the determination thereof shall be conclusive on all the Members.
Determination of Appraised Value. (a) The parties hereto agree that the Appraised Value shall be determined for all purposes under this Agreement in accordance with the procedure set forth in this Section 3.5.
Determination of Appraised Value. For purposes of this Article 7, the appraised value (“Appraised Value”) of the assets of the Company shall be determined by one (1) or more independent Qualified Appraisers. The Non-Defaulting Member shall select one (1) Qualified Appraiser and shall include such selection in the Default Notice. Within fifteen (15) days following the Effective Date of the Default Notice, the Defaulting Member shall either agree to the Qualified Appraiser selected by
Determination of Appraised Value. Appraised Value = Full Replacement Value x Newness ratio.
Determination of Appraised Value. (a) For purposes of this Agreement, the "Appraised Value" of a business or the interest of a Person in a business shall mean the total amount in U.S. Dollars, determined, unless otherwise specified herein, as of the end of the month immediately preceding the date on which the appraisal is made by an investment banking firm selected in accordance with Section 8.6(b), which a willing buyer would pay to a willing seller for such business or interest, determined as a whole (and, in the case of a business, as a going concern) in an arms' length negotiated transaction without undue time constraints. In determining the Appraised Value, no discounts for lack of control or lack of marketability shall be applied.
Determination of Appraised Value. (i) In order to determine the appraised value of a Common Share, the Requester and the Company (acting with the consent of the majority of the members of the Board who are not affiliated with the Requester) shall each retain an independent investment banking firm of national reputation (such Persons being referred to herein as an "Appraiser"), to determine in good faith through any reasonable valuation method the purchase price expected to be paid for one Common Share in a transaction between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of all relevant facts, in a single transaction or series of related transactions involving the sale or transfer of all of the Company's issued and outstanding Capital Securities and Convertible Securities, with no discount or premium of any type being applied on account of control or lack thereof, marketability or other factors unique to particular Member or group of Members (such value being referred to as the "Common Appraised Value").
Determination of Appraised Value. 17 3.4 Determination of Net Operating Income . . . . . . . . . . . 18
Determination of Appraised Value. A. Within forty-five (45) days following receipt by Lender of full and complete Appraisal Information for each of the Facilities, Lender shall (i) review the Appraisal Information and determine, in its sole discretion, the Appraised Value of each Facility and (ii) notify Borrower of its determination of such value; provided Lender's failure to so notify Borrower within such period shall not be deemed to be a default by Lender hereunder or a waiver of any of the Security Pool Covenants and shall result in an extension of the forty-five (45) day period until the date Lender notifies Borrower of its determination of the Appraised Values. Fifteen (15) days after the date Lender notifies Borrower of its determination of the Appraised Value, such Appraised Value shall become effective and final for purposes of calculating the Loan to Appraisal Ratio. For purposes of this Agreement, Lender has determined the Appraised Value of the Facilities as of the date of Closing and no changes shall be made in such Appraised Value prior to March 31, 1996. In addition, from and after March 31, 1996, Lender shall have the right from time to time to cause one or more of the Facilities to be reappraised if in Lender's reasonable judgment there has been a material adverse change in the value of one or more of the Facilities to be reappraised.
Determination of Appraised Value. As used herein, “Appraised Value” shall mean the fair market value of the Property determined as follows:
