Franchise Valuation Sample Clauses

Franchise Valuation. Xxxxxx used a franchise valuation analysis to estimate the value of Village’s common stock based on the composition of its balance sheet on June 30, 2024. The franchise valuation analysis involves calculating the net asset value of Village and adding a core deposit premium to the net asset value to determine the overall value of Village. In order to calculate Village’s net asset value, Xxxxxx adjusted Village’s tangible common equity with an after-tax credit mark of approximately $2.838 million. The deposit premium was calculated by assigning a premium to each deposit account type based on the perceived value of each type of deposit to a potential acquiror. Non-Interest Bearing deposits $ 236,063 10.00% $ 23,606 NOW Accounts 73,305 8.00% 5,864 Savings and Money Market Accounts 251,038 6.00% 15,062 Certificates of Deposit 68,506 0.00% 0 Total deposits $ 628,912 7.08% $ 44,533 Source: S&P Capital IQ Pro; Village-provided documents. Xxxxxx selected premiums of 0% for certificates of deposit, 6% for savings and money market accounts, 8% for NOW accounts, and 10% for non-interest bearing deposits. Applying these premiums to Village’s deposits suggested an overall premium of 7.08%, or $44.533 million. Xxxxxx noted that deposit premiums paid in bank merger transactions vary. Therefore, Xxxxxx also selected a range of deposit premiums from 5% to 9%. The following chart provides a summary of the franchise value analysis: Dollars in thousands, except per share amounts Amount Per Share Tangible Common Equity $ 70,142 $ 46.91 Less: Credit Xxxx (After-Tax) ($2,838) ($1.90) Add: Deposit Premium $ 44,533 $ 29.78 Indicated Franchise Value $ 111,837 $ 74.80 Minimum Franchise Value – (5% Deposit Premium) $ 98,750 $ 66.05 Maximum Franchise Value – (9% Deposit Premium) $ 123,906 $ 82.87 Note: Per share metrics based upon 1,495,160 shares outstanding. Source: S&P Capital IQ Pro; Village-provided documents. The franchise value analysis suggested an overall range of value of $66.05 to $82.87 per share for Village’s common stock. The value suggested by a 7.08% deposit premium was $74.80 per share. ACNB Corp. Traditions Bancorp 128.5 16.4 10.1 NA CBC Bancorp Bay Community Bancorp 166.5 15.9 12.9 8.5 Business First Bancshares Inc. Oakwood Bancshares Inc. 121.2 19.8 10.4 3.1 Capital Bancorp Inc. Integrated Financial Holdings Inc. 106.3 5.8 13.2 2.9 First National Corp. Touchstone Bankshares 105.0 29.1 7.1 0.6 Dogwood State Bank Community First Bancorporation 110.0 13.7 8.5 NA First ...
Sample 1
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Franchise Valuation. Under circumstances where Grantee forfeits the Franchise, when renewal of the Franchise has been denied by the City, the City may purchase the system for its fair market value, determined on the basis of the system as a going concern, with no value allocated to the franchise itself. Under circumstances where the Franchise has been revoked for cause by the City, the acquisition shall be at an equitable price in accordance with 47 U.S.C.§ 547. Equitable price shall mean Fair Market Value adjusted downward for the harm to the City or Subscribers, if any, resulting from a Grantee’s breach of its Franchise Agreement or violation of the Cable Ordinance and as further adjusted to account for other equitable factors that may be considered consistent with 47 U.S.C. § 547
Sample 1
Franchise Valuation. Under circumstances where the Grantee forfeits the Franchise, when renewal of the Franchise has been denied by the County, or at the normal expiration of the Franchise, the County may purchase the System for its fair market value, determined on the basis of the System as a going concern, with no value allocated to the Franchise itself. Under circumstances where the Franchise has been revoked for cause by the County, the acquisition shall be at an equitable price. Equitable price shall mean fair market value adjusted downward for the harm to the County or Subscribers, if any, resulting from a Grantee’s breach of this Agreement or violation of the OVS Ordinance and as further adjusted to account for other equitable factors.
Sample 1

Related to Franchise Valuation

  • Annual Valuation The Trust shall annually, at least 30 days prior to the anniversary date of establishment of the Fund, furnish to the Grantor and to the Agency a statement confirming the value of the Trust. Any securities in the Fund shall be valued at market value as of no more than 60 days prior to the anniversary date of establishment of the fund. The failure of the Grantor or the Agency to object in writing to the Trustee within 90 days after the statement has been furnished to the Grantor and the Agency shall constitute a conclusively binding assent by the Grantor, barring the Grantor from asserting any claim or liability against the Trustee with respect to matters disclosed in the statement.

  • Customs Valuation The Parties shall determine the customs value of goods traded between them in accordance with the provisions of Article VII of GATT 1994 and the Customs Valuation Agreement.

  • Consolidated Tangible Net Worth The net worth of Seller and its consolidated subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including goodwill, capitalized financing costs and capitalized administration costs but excluding originated and purchased mortgage servicing rights or retained residual securities) and any and all advances to, investments in and receivables held from affiliates; provided, however, that the non-cash effect (gain or loss) of any xxxx-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be excluded from the calculation of Consolidated Tangible Net Worth.

  • Closing Availability After giving effect to all Borrowings to be made on the Effective Date and the issuance of any Letters of Credit on the Effective Date and payment of all fees and expenses due hereunder, and with all of the Loan Parties’ Indebtedness, the Borrowers’ Availability shall not be less than $500,000.

  • Appraised Value If an Objecting Party objects in writing to the Initial Valuation within ten (10) days after its receipt of the Valuation Notice, the Objecting Party, within fourteen (14) days from the date of such written objection, shall engage an Independent Appraiser (the “First Appraiser”) to determine within thirty (30) days of such engagement the Fair Market Value of the Partnership Interests (the “First Appraised Value”). The cost of the First Appraiser shall be borne by the Objecting Party. If the First Appraised Value is at least eighty percent (80%) of the Initial Value and less than or equal to one hundred twenty percent (120%) of the Initial Value, then the Purchase Price shall be the average of the Initial Value and the First Appraised Value. If the First Appraised Value is less than eighty percent (80%) of the Initial Value or more than one hundred twenty percent (120%) of the Initial Value, then the Partnership and the Objecting Party shall, within fourteen (14) days from the date of the First Appraised Value, mutually agree on and engage a second Independent Appraiser (the “Final Appraiser”). The cost of the Final Appraiser shall be borne equally by the Partnership and the Objecting Party. The Final Appraiser shall determine within thirty (30) days after its engagement the Fair Market Value of the Partnership Interests, but if such determination is less than the lesser of the Initial Value and the First Appraised Value then the lesser of the Initial Value and the First Appraised value shall be the value or if such determination is greater than the greater of the Initial Value and the First Appraised Value then the greater of the Initial Value and the First Appraised Value shall be the value (the “Final Valuation”). The Purchase Price shall be equal to the Final Valuation and shall be final and binding upon the parties to this Agreement for purposes of the subject transaction.

  • Pricing and Portfolio Valuation All expenses of computing the Fund 's net asset value per share, including any equipment or services obtained for the purpose of pricing shares or valuing the Fund 's investment portfolio.

  • Consolidated Net Worth Borrower will at the end of each fiscal quarter maintain Consolidated Net Worth in an amount of not less than the sum of (i) $625,000,000 plus (ii) fifty percent (50%) of the aggregate Consolidated Net Income, if positive, for the period beginning January 1, 2005 and ending on the last day of such fiscal quarter.

  • Minimum Consolidated Net Worth The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997.

  • Consolidated Total Liabilities All liabilities of the Borrower and its Subsidiaries determined on a consolidated basis in accordance with generally accepted accounting principles and classified as such on the consolidated balance sheet of the Borrower and its Subsidiaries.

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