Method of Valuation. In determining the fair market value of securities held in the Trust Fund which are listed on a registered stock exchange, the Administrator shall direct the Trustee to value the same at the prices they were last traded on such exchange preceding the close of business on the Valuation Date. If such securities were not traded on the Valuation Date, or if the exchange on which they are traded was not open for business on the Valuation Date, then the securities shall be valued at the prices at which they were last traded prior to the Valuation Date. Any unlisted security held in the Trust Fund shall be valued at its bid price next preceding the close of business on the Valuation Date, which bid price shall be obtained from a registered broker or an investment banker. In determining the fair market value of assets other than securities for which trading or bid prices can be obtained, the Trustee may appraise such assets itself, or in its discretion, employ one or more appraisers for that purpose and rely on the values established by such appraiser or appraisers.
Method of Valuation. For all purposes under this Agreement, the fair market value of shares of Bank Mutual’s stock shall be the average of the high and low sales prices for the shares in the over-the-counter market on the valuation date, as reported by NASDAQ (the National Association of Securities Dealers, Inc. Automatic Quotation System). In the absence of any reported sales on NASDAQ on any trading date, fair market value shall be the average of the reported closing bid and asked prices for the stock on NASDAQ on such date.
Method of Valuation. For all purposes of this Agreement, the Fair Market Value of shares of Company Stock on any date shall mean the average of the highest and lowest quoted selling prices for the Company Stock on the relevant date, or (if there were no sales on such date) the average of the means between the highest and lowest quoted selling prices on the nearest day before and the nearest day after the relevant date, as reported in The Wall Street Journal or a similar publication selected by the Committee.
Method of Valuation. The final price (close price) recorded on a given trading day at the regulated exchange at which the Financial Instrument is traded. If the close price is not available, the Brokerage Company shall calculate the Method of Valuation based on a reasonable estimation.
Method of Valuation. Valuations must be made in good faith and based on all relevant factors for determining the fair market value of securities. In the case of a transaction between a Plan and a disqualified person, value must be determined as of the date of the transaction. For all other Plan purposes, value must be determined as of the most recent Valuation Date under the Plan. An independent appraisal will not in itself be a good faith determination of value in the case of a transaction between the Plan and a disqualified person. However, in other cases, a determination of fair market value based on at least an annual appraisal independently arrived at by a person who customarily makes such appraisals and who is independent of any party to the transaction will be deemed to be a good faith determination of value. Company Stock not readily tradeable on an established securities market shall be valued by an independent appraiser meeting requirements similar to the requirements of the Regulations prescribed under Code Section 170(a)(1).
Method of Valuation. On each Valuation Date and on such ------------------- other dates as an evaluation is to be determined in accordance with the terms of this Agreement, the General Partner shall determine or cause to be determined the Portfolio Value. For the purposes of this Agreement, the value of any Security shall be determined as follows:
(a) marketable Securities listed on a national securities exchange or National Association of Securities Dealers' Automated Quotation National Market System will be valued at the last sales price on the date of valuation, or in the absence of a sale on such date, at the last bid price on the date of valuation;
(b) marketable Securities traded in the over-the-counter market and reported in the National Association of Securities Dealers' Automated Quotation system will be valued at the closing bid price as reported by such system;
(c) Securities (other than Securities of a type specified in clause (a) or (b) above) for which prices are regularly quoted by recognized dealers all or a portion of which are immediately salable under regulations of the Securities and Exchange Commission will be valued at the most recent market price; and
(d) all other Securities will be valued at cost or such other value as may be reasonably determined by the General Partner.
Method of Valuation. “Fair Market Value” of the Common Stock of the company shall be determined by the Committee and shall be the closing price as reported on NASDAQ National Market System as reported in the Wall Street Journal, for the Company’s Common Stock for a specific trading day, usually the date of the grant or exercise.
Method of Valuation. 36 ARTICLE VII
Method of Valuation. In determining the fair market value of securities held in the Trust Fund which are listed on a registered stock exchange, the Administrator shall direct the Trustee (or Insurer) to value the same at the prices they were last traded on such exchange preceding the close of business on the Valuation Date. If such securities were not traded on the Valuation Date, or if the exchange on which they are traded was not open for business on the Valuation Date, then the securities shall be valued at the prices at which they were last traded prior to the Valuation Date. Any unlisted security held in the Trust Fund shall be valued at its bid price next preceding the close of business on the Valuation Date, which bid price shall be obtained from a registered broker or an investment banker. In determining the fair market value of assets other than securities for which trading or bid prices can be obtained, the Trustee, the Administrator (if the Trustee is a directed Trustee), or Insurer may appraise such assets itself (assuming it has the appropriate expertise), or in its discretion, employ one or more appraisers for that purpose and rely on the values established by such appraiser or appraisers.
Method of Valuation. At the end of the agreed period detailed in Schedule 3, the assets will be valued at current market rates by an independent valuer and the shares will be valued according to that valuation for the next set period. In the event that one or more investors notify their desire to sell their shares in accordance with Clause 11, the assets will be valued at current market rates by an independent valuer and the shares will be valued according to that valuation. Share transfers. Shares will be available for transfer in accordance with the procedure laid down in Schedule 4 to this Agreement. Save as provided for in Clause 11 of this Agreement, any transfer or assignment of shares to a person who is not a party to this Agreement will be in accordance with the Decision Making Matrix laid down in Schedule 5 to this Agreement. New share Issues New share issues will be made in accordance with the Decision Making Matrix laid down in Schedule 5 to this Agreement. The assets and ownership thereof are listed in the Asset Register contained in Annexure 2. The Asset Register will be updated at least annually and from time to time as necessary. If land is owned by the Business, it will be recorded in item 6 of Schedule 1. There will be a Board. Membership of the Board is set out in Item 5 of Schedule 1. It is intended that the Board will be responsible for the decisions in accordance with the Decision Making Matrix set out in Schedule 5 to this Agreement. There will be a Management Team Leader whose name is recorded in Item 7 of Schedule 1. The Management Team Leader will appoint the management team from time to time.
