Unit Valuation. 37 9.3 Asset Maintenance....................................................... 38 9.4
Unit Valuation. In the event that the Arrangers shall have determined in their sole discretion that the value of the Units shall have materially decreased, the Borrower shall obtain, at the Borrower's cost, a valuation of the Units, charter-free, in Dollars from an independent shipbroker selected by the Arrangers. In the event the Borrower fails or refuses to obtain the valuation requested pursuant to this Section 9.2 within ten (10) days of the Arrangers' request therefor, the Arrangers shall be authorized to obtain such valuation, at the Borrower's cost, from an independent shipbroker selected by the Arrangers, which valuation shall be deemed the equivalent of valuation duly obtained by the Borrower pursuant to this Section 9.2, but the Arrangers' actions in doing so shall not excuse any default of the Borrower under this Section 9.2.
Unit Valuation. Initially, the value of an SAR (the "Unit Value") will be an amount equal to 3% of $450 million, i.e., $13.5 million, divided by 3,000,000. Subsequently the Unit Value will be the quotient of (i) an amount equal to 3% of the Plan Value of the Company divided by (ii) 3,000,000; provided, however, that the aggregate distribution pursuant to this Plan shall not exceed $15 million and provided, further, that the aggregate distribution pursuant to this Plan to any single person shall not exceed $10 million.
Unit Valuation. As you know, at the end of each year we employ a third-party appraiser to review and assess the analysis and assumptions used to prepare an estimated current value of the properties held in your Fund. We then use these valuations to prepare an estimated unit value, which may not be representative of the value of your units when the Fund ultimately liquidates. Real Estate Investments (Dollars in thousands) _________________________________________________________________ Average Contribution Leased Status Leased Status to Net Income ___________ _____________ ____________ Gross Twelve Twelve Leasable Months Ended Months Ended Property Area December 31, December 31, December 31, Name (Sq. Ft.) 1996 1995 1996 1995 1996 _________ __________ __________ _____ _____ _____ _____ Atlantic 187,844 100% 97% 93% $240 $ 000 Xxxxxxxx 95,732 100 100 100 193 189 Oakbrook Corners 123,948 94 68 75 (96) (985) Baseline 100,204 96 88 90 86 (636) Business Plaza 66,342 89 85 79 355 33 Tierrasanta 104,236 62 75 87 80 (734) ________ ____ ____ ____ _____ _____ 678,306 91 86 88 858 (1,919) Held for Sale AMCC 99,950 100 100 100 903 000 Xxxxx Xxxxx Plaza 49,163 90 67 74 84 (47) Xxxxxx Xxxx 119,590 100 78 96 161 000 Xxxxx Xxxxxx 82,000 100 100 100 172 178 ________ ____ ____ ____ ____ ____ 1,029,009 94 87 90 2,178 (1,286) Properties Sold - - - - 442 858 Fund Expenses Less Interest Income - - - - (228) (292) ________ ____ ____ ____ _____ _____ Total 1,029,009 94% 87% 90% $2,392 $ (720)
Unit Valuation. As you know, at the end of each year we employ a third-party appraiser to review and assess the analysis and assumptions used to prepare an estimated current value of the properties held in your Fund. We then use these valuations to prepare an estimated unit value, which may not be representative of the value of your units when the Fund ultimately liquidates. Nor is there any assurance that you could sell your units today at a price equal to the current estimated value. At December 31, 1996, the estimated unit value of the Fund was $147. After adjusting for our February distribution of $2, the estimated value per unit is $145. Total appreciation for the year, including net appreciation on the property sold, is 8.4
Unit Valuation. In the event that the Arrangers shall have determined in their sole discretion that the value of the Units shall have materially decreased, the Borrower shall obtain, at the Borrower's cost, a valuation of the Units, charter-free, in Dollars from an independent appraiser selected by the Borrower and approved by the Arrangers. In the event the Borrower fails or refuses to obtain the valuation requested pursuant to this Section 9.2 within ten (10) days of the Arrangers' request therefor, the Arrangers shall be authorized to obtain such valuation, at the Borrower's cost, from an independent appraiser selected by the Arrangers, which valuation shall be deemed the equivalent of valuation duly obtained by the Borrower pursuant to this Section 9.2, but the Arrangers' actions in doing so shall not excuse any default of the Borrower under this Section 9.2.
Unit Valuation. At the inception of a Fund, each full Unit shall have a value of one hundred dollars ($100). Thereafter, as of each Valuation Date but prior to any new transfer (as defined in Paragraph 6.7, below) of Investment Assets to a Fund, the Trustee shall determine the then fair market value of each unit by dividing the then fair market value of the assets constituting the Fund (as determined pursuant to Section 5, below) by the number of Units then allocated to the Accounts in such Fund. The decision of the Trustee regarding such values, in the absence of bad faith, shall be conclusive and binding on all Participants.
