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Common use of Fair Market Value Determination Clause in Contracts

Fair Market Value Determination. The Fair Market Value of the Minority Member's Interest shall be determined on the basis of the Appraisers' Certificates in accordance with the provisions of this subparagraph (iii), provided, that there shall be no "controlling interest premium" if the Majority Member's Interest has a Sharing Ratio of less than 66 2/3% nor any "minority interest discount" if the Minority Member's Interest has a Sharing Ratio of greater than 33 1/3%. The higher of the values set forth on the Appraisers' Certificates is hereinafter referred to as the "Higher Value," and the lower of such values is hereinafter referred to as the "Lower Value." If the Higher Value is not more than 110% of the Lower Value, the Fair Market Value of the Minority Member's Interest will be the arithmetic average of the Higher Value and the Lower Value. If the Higher Value is more than 110% of the Lower Value, a third appraiser shall be selected in accordance with the provisions of subparagraph (iv) below, and the Fair Market Value of the Minority Member's Interest will be determined in accordance with the provisions of subparagraph (v) below.

Appears in 2 contracts

Samples: License Agreement (Nstar/Ma), Management Agreement (RCN Corp /De/)

Fair Market Value Determination. The Fair Market Value of the Minority Selling Member's Interest shall be determined on the basis of the Appraisers' Appraiser's Certificates in accordance with the provisions of this subparagraph (iiiiv), provided, that there shall be no "controlling interest premium" if the Majority Selling Member's Interest has a Sharing Ratio an Investment Percentage of less than 66 2/3% %, nor any "minority interest discount" if the Minority Selling Member's Interest has a Sharing Ratio an Investment Percentage of greater than 33 1/3%. The higher of the values set forth on the Appraisers' Appraisers Certificates is hereinafter referred to as the "Higher Value," and the lower of such values is hereinafter referred to as the "Lower Value." If the Higher Value is not more than 110% of the Lower Value, the Fair Market Value of the Minority Selling Member's Interest will be the arithmetic average of the Higher Value and the Lower Value. If the Higher Value is more than 110% of the Lower Value, a third appraiser shall be selected in accordance with the provisions of subparagraph (iv) below, and the Fair Market Value of the Minority Selling Member's Interest will be determined in accordance with the provisions of subparagraph (v) below.

Appears in 1 contract

Samples: Operating Agreement (RCN Corp /De/)

Fair Market Value Determination. The Fair Market Value of the Minority Selling Member's ’s Interest shall be determined on the basis of the Appraisers' Appraiser’s Certificates in accordance with the provisions of this subparagraph (iii), provided, that there shall be no "controlling interest premium" if the Majority Selling Member's ’s Interest has a Sharing Ratio of less than 66 2/3% %, nor any "minority interest discount" if the Minority Selling Member's ’s Interest has a Sharing Ratio of greater than 33 1/3%. The higher of the values set forth on the Appraisers' Appraisers Certificates is hereinafter referred to as the "Higher Value," and the lower of such values is hereinafter referred to as the "Lower Value." If the Higher Value is not more than 110% of the Lower Value, the Fair Market Value of the Minority Selling Member's ’s Interest will be the arithmetic average of the Higher Value and the Lower Value. If the Higher Value is more than 110% of the Lower Value, a third appraiser Appraiser shall be selected in accordance with the provisions of subparagraph (iv) below, and the Fair Market Value of the Minority Selling Member's ’s Interest will be determined in accordance with the provisions of subparagraph (v) below.

Appears in 1 contract

Samples: Operating Agreement (RCN Corp /De/)

Fair Market Value Determination. The Fair Market Value of the Minority Selling Member's Interest shall be determined on the basis of the Appraisers' Appraiser's Certificates in accordance with the provisions of this subparagraph (iiiiv), provided, that there shall be no "controlling interest premium" if the Majority Selling Member's Interest has a Sharing Ratio an Investment Percentage of less than 66 2/3% %. nor any "minority interest discount" if the Minority Selling Member's Interest has a Sharing Ratio an Investment Percentage of greater than 33 1/3%. The higher of the values set forth on the Appraisers' Appraisers Certificates is hereinafter referred to as the "Higher Value," and the lower of such values is hereinafter referred to as the "Lower Value." If the Higher Value is not more than 110% of the Lower Value, the Fair Market Value of the Minority Selling Member's Interest will be the arithmetic average of the Higher Value and the Lower Value. If the Higher Value is more than 110% of the Lower Value, a third appraiser shall be selected in accordance with the provisions of subparagraph (iv) below, and the Fair Market Value of the Minority Selling Member's Interest will be determined in accordance with the provisions of subparagraph (v) below.

Appears in 1 contract

Samples: License Agreement (Nstar/Ma)