Valuation Guidelines. The Initial Value, First Appraised Value, and Final Valuation shall be based upon the Fair Market Value of the Partnership Interests comprising the Offered Interests or Repurchase Interests. In determining such Fair Market Value, the General Partners and Independent Appraisers, as applicable, shall determine appropriate discounts for lack of control and lack of marketability, as applicable.
Valuation Guidelines. 1 INTRODUCTION
Valuation Guidelines. General Interest-Bearing Securities Equity Securities — Private Companies Equity Securities — Public Companies
Valuation Guidelines. The valuation guidelines adopted by the Board, as amended from time to time. 2%/25% Guidelines. For any year in which the Trust qualifies as a REIT, the requirement pursuant to the guidelines of the North American Securities Administrators Association, Inc. that, in any 12 month period, total Operating Expenses not exceed the greater of 2% of the Trust’s Average Invested Assets during such 12 month period or 25% of the Trust’s Net Income over the same 12 month period.
