Valuation Approach Sample Clauses

Valuation Approach. In valuing the Transferable Interests which are the subject of the Put Option or Call Option, as the case may be, the Valuers: (i) shall prepare the valuation by using the discounted cashflows methodology based on the net present value of cashflows attributable to the Option Interests which take into account the terms of the Project Agreements (including, for the avoidance of doubt, the Gas Allocation Letter, the Gas Supply Agreement to be entered into with Saudi Aramco, the Energy Conversion Agreement entered into between Ma'aden and SWCC dated 10 October 2009 and other agreements with Government or publicly held entities) over the remaining life of the Project; (ii) shall consider cashflows from Expansions, taking into account any agreed Expansions; (iii) shall use an appropriate discount rate to compute the net present value, taking into account customary factors such as the industry, the geography, the Parties' familiarity with the operations, and other relevant factors; (iv) shall not apply any discount to the Option Interests as a result of the Option Interests not conferring Control over any Company or not conferring any minority protection rights; (v) may consult persons engaged in the marketing of aluminium who, in the Valuers' opinion, are experts in the making of price forecasts on a regular basis; (vi) may consult any other experts as the Valuers think fit; (vii) shall be entitled to rely in good faith upon the opinions of any experts so consulted; and (viii) shall consider any submissions as to the value of the Option Consideration which may be made to the Valuers by a Party within thirty (30) days of receipt by the Party of notice of the appointment of the third Valuer.
Sample 1
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Valuation Approach. Overview There are several generally accepted methods for determining the value of a company's equity interests or enterprise value ("Enterprise Value, or "EV"). In general, valuations are based on one or more of the following major approaches: • The Income Approach; • The Market Approach; and • The Asset-Based Approach. Income Approach The Income Approach is adopted where the business is believed to be viable as a going concern. The future earnings or cash flow of the business are converted to a value using procedures that consider the expected growth and timing, the risk profile of the benefits stream and the time value of money. The conversion of the benefits stream to value normally requires the determination of a discount rate (rate of return). In determining the appropriate rate, consideration is given to such factors as interest rates, rates of return anticipated by investors on alternative investments, the risk characteristics of the anticipated benefits of the subject entity, etc. Typically, the rate of return or discount rate used is consistent with the anticipated risks and benefits. The most commonly adopted methodologies are: • Discounted cash flow ("DCF"); • Capitalized cash flow; • Capitalized earnings; and • Multiple of EBITDA. Market Approach The Market Approach to valuation is a general way of determining a value indication of a business or an equity interest therein using one or more methods that compare the subject entity to similar businesses, business ownership interests and securities (investments) that have been sold. Examples of methods under this approach include, the "Guideline Public Company Method" and the "Precedent Transaction Method". The Guideline Public Company Method is a method whereby market multiples are derived from market prices of actively traded stocks of companies that are engaged in the same or similar lines of business. Under this method, guideline company data is used to develop value measures that can be applied to the subject company's financial data, in order to reach an indication of value for the issued shares of the subject entity. To the extent that the risk associated with an investment in the subject entity is different from that of the guideline companies, subjective adjustments are made to the market-based ratios to reflect such differences. Under the Precedent Transaction Method, valuation ratios are derived from open-market transactions of significant interests in entities engaged in the same or si...
Sample 1
Valuation Approach. In the valuation, the PRC Independent Valuer used the results arrived at by adopting the market approach (transaction case comparison approach) as the valuation conclusion. Transaction case comparison approach refers to the specific method for determining the value of the target of valuation through obtaining and analysing information on sale, purchase and acquisition and merger cases of comparable companies, calculating the value ratios, and comparing and analysing such information with those on the valued entity. Based on the specific transaction purpose of the transaction cases, a suitable market multiplier in this case is selected as the object of study, and the possible market multiplier of the valued entity is arrived at by comparing the various financial indicators of the valued entity with those of the target companies in the transaction cases, on the basis of which the equity value of the valued entity is calculated.
Sample 1
Valuation Approach. In valuing Alcoa’s Transferable Interests, the Valuers: (a) shall prepare the valuation based on the net present value of cash flows attributable to Alcoa’s Transferable Interests, taking into account the terms of the Project Agreements and the remaining life of the Project and all such other matters as the Valuers deem appropriate; (b) shall not apply any discount to Alcoa’s Transferable Interests as a result of Alcoa’s Shareholder Percentage not conferring Control over any Company; (c) if making the determination prior to the Commercial Production Date for any of the Mine, the Refinery, the Smelter or the Rolling Mill, may consult any contractor or manager appointed pursuant to any Construction Agreement and/or any other contractors engaged in the development, construction or operation of the Mine, Refinery, Smelter or Rolling Mill; (d) may consult persons engaged in the marketing of aluminium who, in the Valuers’ opinion, are experts in the making of price forecasts on a regular basis; (e) may consult any other experts as the Valuers thinks fit; (f) shall be entitled to rely in good faith upon the opinions of any experts or other persons so consulted; and (g) shall consider any submissions as to the Fair Market Value which may be made to the Valuers by a Party within thirty (30) days of receipt by the Party of notice of the appointment of the third Valuer.
Sample 1
Valuation Approach. In valuing Alcoa's Transferable Interests, the Valuers: (a) shall prepare the valuation based on the net present value of cash flows attributable to Alcoa's Transferable Interests, taking into account the terms of the Project Agreements and the remaining life of the Project and all such other matters as the Valuers deem appropriate; (b) shall not apply any discount to Alcoa's Transferable Interests as a result of Alcoa's Shareholder Percentage not conferring Control over any Company; (c) if making the determination prior to the Commercial Production Date for any of the Mine, the Refinery, the Smelter or the Rolling Mill, may consult any contractor or manager appointed pursuant to any Construction Agreement and/or any other contractors engaged in the development, construction or operation of the Mine, Refinery, Smelter or Rolling Mill; (d) may consult persons engaged in the marketing of aluminium who, in the Valuers' opinion, are experts in the making of price forecasts on a regular basis;
Sample 1
Valuation Approach. In valuing Alcoa's Transferable Interests, the Valuers: (a) shall prepare the valuation based on the net present value of cash flows attributable to Alcoa's Transferable Interests, taking into account the terms of the Project Agreements and the remaining life of the Project and all such other matters as the Valuers deem appropriate; (b) shall not apply any discount to Alcoa's Transferable Interests as a result of Alcoa's Shareholder Percentage not conferring Control over any Company; (c) [INTENTIONALLY OMITTED]; (d) may consult persons engaged in the marketing of aluminium who, in the Valuers' opinion, are experts in the making of price forecasts on a regular basis; (e) may consult any other experts as the Valuers thinks fit; (f) shall be entitled to rely in good faith upon the opinions of any experts or other persons so consulted; and (g) shall consider any submissions as to the Fair Market Value which may be made to the Valuers by a Party within thirty (30) days of receipt by the Party of notice of the appointment of the third Valuer.
Sample 1
Valuation Approach. Tyler shall value improvements in accordance with the Wisconsin Property Assessment Manual and the Client’s IAS CAMA solution. The three (3) industry-recognized approaches to value; i.e. market, cost and income, shall be considered by Tyler for all parcels. All accrued depreciation, including physical deterioration, functional obsolescence and economic obsolescence, must be accurately documented by the market and deducted from current replacement costs.
Sample 1
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