Valuation Standards. Except as otherwise provided in this Agreement, in determining the value of Partnership property or a Partner’s interest in the Partnership, or in any accounting among any or all of the Partners, no value shall be placed on the Partnership’s goodwill, name, records, files, or statistical data or on similar assets not normally reflected in the Partnership’s accounting records, but there shall be taken into consideration any items of income earned but not yet received, expenses incurred but not yet paid, liabilities fixed or contingent, and prepaid expenses to the extent not otherwise reflected in the books of account. In determining the value of Partnership assets, the General Partner may, but shall not be required to, take into consideration valuations, appraisals and similar assessments made or undertaken by third parties. The General Partner’s valuation of Partnership assets shall establish the “Fair Market Value” of such assets and shall be binding and conclusive for all purposes under this Agreement.
Valuation Standards. Our valuations are prepared in accordance with the HKIS Valuation Standards (2020) published by the Hong Kong Institute of Surveyors (“HKIS”), the RICS Valuation – Global Standards (2020) published by the Royal Institution of Chartered Surveyors (“RICS”) and/or International Valuation Standards (2020) published by International Valuation Standards Council (“IVSC”) which entitle us to make assumptions that may upon further investigation, for instance by your legal representative, prove to be inaccurate or untrue. Any exception is clearly stated below and/or in the report.
Valuation Standards. The Chinese versions of the HKIS Valuation Standards on Properties (2005 1st Edition) and the Hong Kong Business Valuation Forum Business Valuation Standards (2005) were published this year and can be obtained from the website. Working panel members led by Xxxxxxxx Xxxx and Xxxxxx Xx have paid a lot of time to monitor the translation works. Meanwhile, members should be aware that the valuation standards may be subject to amendment in the coming future.
Valuation Standards. If the value of the Trust Assets is not readily ascertainable from the transactions of a securities exchange, the Trust Assets will be valued in accordance with the Trustee's best judgment. In determining the value of the Trust Assets, the Trustee will exercise its best judgment, using generally accepted trust and accounting principles, and all such determinations of value will be binding upon all persons claiming benefits under the provisions of the Plan.
Valuation Standards. For purposes of this Agreement, the fair market value of an Affected Interest shall be the cash price that would be payable to a reasonable seller by an unrelated reasonable buyer for said Interest, without a discount for minority interest or a premium for majority interest, except that a discount shall be applied for any lack of
Valuation Standards. All assets and liabilities of the Company or any Series, including the Common Interests, shall be valued at fair value within the meaning of United States GAAP Accounting Standards Codification Topic 820: Fair Value Measurements and Disclosures, as such topic may be amended at any time and from time to time, or any successor thereto, as determined by the Board of the Company in its discretion. To the extent consistent therewith, no value shall be assigned to the Company’s names or goodwill or to the office records, files, statistical data, or any similar intangible assets of the Company or any Series not normally reflected in the accounting records the Company or Series. Subject to the terms of this Section 13.3, all valuations shall be made solely by the Board, and the Board’s valuations made in good faith shall be conclusive and binding on all Members. Notwithstanding the foregoing, the Board of the Company may, in its discretion, engage experts to assist in the determination of the valuation of a Series or the Common Interests, and the costs thereof shall be expenses of the applicable Series. Notwithstanding any other provision of this Article 13 to the contrary, the Board of the Company may change the method used to value the Company’s or Series’ assets (including Securities and other Investments) and liabilities as the Board deems necessary or desirable in order to comply with any applicable laws, rules and regulations. If a dispute shall arise as to the valuation of a Series, the Board of the Company shall appoint a firm of independent accountants of national standing which has not provided substantial services to the Company, any Member or any of their respective Affiliates (an “Independent Accountant”) to determine the disputed valuation, which shall be conclusive and final for all purposes of this Article 13. If a dispute shall arise as to the valuation of the Common Interests, the Air T Member shall appoint an Independent Accountant and the MRC Common Members shall appoint an Independent Accountant, each to determine the disputed valuation. The average of such initial valuations (the “Common Interests Valuation”) shall then be the valuation of the Common Interests; provided, however, if either the Air T Member or the MRC Common Members object to the Common Interests Valuation, the two Independent Accountants that determined the Common Interests Valuation shall jointly appoint a third Independent Accountant to determine the disputed valuation. Upo...
