Valuation and Reporting Clause Samples
The Valuation and Reporting clause establishes the procedures and standards for determining the value of assets, liabilities, or interests covered by the agreement, as well as the requirements for providing regular reports on these valuations. Typically, this clause specifies the methods to be used for valuation, the frequency and format of reporting, and the parties responsible for preparing and delivering such reports. By setting clear expectations for how and when valuations and reports are to be conducted and communicated, this clause ensures transparency and consistency, reducing the risk of disputes over asset values or financial positions.
Valuation and Reporting. The parties agree that value of the ISI Interests and the consideration to be exchanged therefor pursuant to this Agreement shall be equal to or higher than (and in any event, not lower than) $312,000,000 as of the Signing Date, and agree further that the value of the ISI Interests shall be equal to or higher than (and in any event, not lower than) $312,000,000 as of the Closing Date; it being understood that the Transferor Parties shall use commercially reasonable efforts with respect to matters within their control to preserve such value between the date hereof and the Closing. The parties hereto shall, and shall cause their Affiliates to, not take any position inconsistent with this agreed valuation for the ISI Interests (A) for all accounting and financial reporting purposes (except as otherwise required by applicable accounting standards) and shareholder reporting purposes (including in any 8K’s, 10K’s, 10Q’s or similar filings or other Parent SEC Reports), (B) in communicating the transactions to the public via information statements, investor calls, reports to analysts or similar communications (except to the extent permitted pursuant to clause (A)), and (C) in any other public statement (except to the extent permitted pursuant to clause (A)). In addition, the parties hereto shall, and shall cause their Affiliates to, use this agreed valuation, and not take any position inconsistent therewith, for all federal (and applicable state, local and non-U.S.)
Valuation and Reporting. Adviser will value the Account daily in a manner which is generally consistent with Generally Accepted Accounting Principles in the United States (“GAAP”). The unit value will be calculated each day by 5:00 p.m. Central Time reflecting changes in the book value of the assets on that day. Adviser will provide the Board, or other parties as designated in writing by the Board from time to time, with a valuation report of the Account as of the last day of each calendar quarter, or as otherwise agreed by the Parties. The Board will provide, or instruct the custodian to provide, Adviser with such reports as to the status of the Account as Adviser may reasonably request to meet its obligations under this Agreement. Adviser’s Net Asset Valuation Procedure, which may be updated from time to time by Adviser in its sole discretion, and GAAP shall govern with respect to all valuations of the Account.
Valuation and Reporting. Advisor will value the Fund daily with interests denominated in “units”, each unit representing an equal undivided interest in the underlying assets. The unit value will be calculated each day by 5:00 p.m. CST reflecting changes in the book value of the assets on that day. Advisor will provide the Principal, or other parties as designated in writing by Principal from time to time, with a valuation report of the Fund as of the last day of each calendar quarter, or as otherwise agreed by the Parties. Principal will provide, or instruct the custodian to provide, Advisor with such reports as to the status of the Fund as Advisor may reasonably request to meet its obligations under this Agreement. Advisor’s Valuation Policy, which may be updated from time to time by Advisor in its sole discretion, shall govern with respect to all valuations of the Fund.
Valuation and Reporting. (a) If the Trustee is required to calculate the Syndicate Share of the Trust Fund of a Relevant Syndicate at any time, it must do so as follows: SST = SS × TF where: SST is the Syndicate Share of the Trust Fund of a Relevant Syndicate at any time SS is the Syndicate Percentage of a Relevant Syndicate as last notified by Lloyd’s to the Trustee pursuant to clauses 2.1(b) 2.3, 2.5 or 6.2 (as the case may require) TF is the value of the Trust Fund (excluding any Restricted Letters of Credit) as at the date on which the Trust Fund was last valued in accordance with this deed
(b) Immediately prior to the payment out of the Trust Fund of any amount pursuant to clauses 4.2(d) or 5.10 the Trustee must determine the value of the assets in the Trust Fund (excluding any Restricted Letters of Credit) and determine the Syndicate Share of the Trust Fund of the Responding Syndicate and:
(1) the Syndicate Share of the Trust Fund so determined is the Syndicate Share of the Trust Fund for the purposes of clause 4.2(e) or 5.10 as the case requires in respect of that payment; and
(2) immediately following that payment, the Syndicate Share of the Trust Fund in respect of the Responding Syndicate must be reduced in the manner provided in the Operational Agreement.
(c) Immediately following any recalculation of the Syndicate Share of the Trust Fund in respect of a Responding Syndicate pursuant to clause 6.6(b), Lloyd's must notify the Trustee in writing of:
(1) the percentage share of the Trust Fund referable to each Relevant Syndicate (excluding the amount of any share of any Restricted Letters of Credit referable to that Relevant Syndicate); and
(2) the Relevant Syndicate’s share of any Restricted Letter of Credit referable to that syndicate.
Valuation and Reporting