Net Fair Market Value definition

Net Fair Market Value means, in respect of any property, the net fair market value of that property determined on a consolidated basis in accordance with all administrative policies of the Canada Revenue Agency in effect at the time of the FirstService Share Exchange and, in determining Net Fair Market Value, the following principles will apply:

Net Fair Market Value means the following:

Net Fair Market Value means the cash price which a purchaser would pay on the effective day of the appraisal for all assets of the Company taking into account the nature, extent and maturity date of the liabilities of the Company, whether fixed or contingent, such valuation to be made on the assumption that such assets are subject to this Agreement and to any other agreement, including leases, management and service agreements then in effect. Such appraisals shall assume that the Project is the highest and best use of the Property subject thereto and shall be made in the usual and normal manner for real estate appraisals. The cost of the appraisal shall be an expense of the Company. The value of an interest in the Company shall be deemed to be the amount that the owner of such interest would have received under the provisions of this Agreement if the Property had been sold for cash at the value determined by such appraisal and the Company had been wound up and dissolved following such sale in accordance with the terms of this Agreement.

Examples of Net Fair Market Value in a sentence

• The Adjusted Net Fair Market Value of a Partner's interest shall be equal to the Net Fair Market Value of that Partner's interest reduced by an amount equal to twenty-five percent (25%) of the Net Fair Market Value of that Partnership interest.

• After the interest is so valued, the remaining Partners shall collectively have the right to purchase all, but not less than all, of the deceased Partner's interest for the Adjusted Net Fair Market Value thereof in accordance with Subsection 9.4(d).

• Subject to the provisions of Subsection (b), the remaining Partners shall have an option to purchase their proportionate shares of all, but not less than all, of the deceased Partner's interest on the terms and conditions hereafter provided, exercisable by them at any time within fifteen (15) days after the date the Adjusted Net Fair Market Value of the deceased Partner's partnership interest is determined.

• For this purpose, "Estimated Value" shall be equal to 80% of the total proceeds such defaulting Member would receive upon a liquidation of the Company at its "Net Fair Market Value" and a distribution to the Members in accordance with SECTIONS 3.06(d) and 2.06(c) hereof.

• In no event shall total distributions from [Child 2's] Trust in any taxable year of the trust under Article VI.B.1 of the Will (as applied to [Child 2's] Trust by Article VI.B.4 of the Will) exceed the greater of: (a) the income of [Child 2's] Trust (or any separate trust created after the division of [Child 2's] Trust provided below), and (b) five percent of the Average Net Fair Market Value of the trust assets as defined above.

More Definitions of Net Fair Market Value

Net Fair Market Value with respect to any property means the amount a willing buyer would pay to an unrelated willing seller, neither having any obligation to purchase or sell, respectively, on the open market for such property, taking into account any liabilities (whether fixed, contingent or otherwise) to which such property is subject, and ignoring any lack of marketability, lack of control or other discounts, in each case as reasonably and in good faith determined by the Class A Members.

Net Fair Market Value means the fair market value of the endowment care fund at a specified point in time after deducting investment adviser fees and other operating expenses.

Net Fair Market Value means an amount determined by the Board of Directors of Rubicon as of the Effective Date, as being an amount equal to the fair market value of certain assets;

Net Fair Market Value means, in respect of any property, the net fair market value of that property determined on a consolidated basis in accordance with all administrative policies of the CRA in effect at the Effective Time and, in determining Net Fair Market Value, the following principles will apply:

Net Fair Market Value of any property shall be determined on a consolidated basis in accordance with all administrative policies of the Canada Revenue Agency in effect at the time the Special Shares are issued and, in determining Net Fair Market Value, the following principles will apply:

Net Fair Market Value means an amount determined by the board of directors of Rubicon as of the Effective Date, as being an amount equal to the fair market value of certain assets;

Net Fair Market Value with respect to any individual Project means, at any time, an amount equal to the Fair Market Value of such Project at such time less the aggregate value of any outstanding debt secured directly or indirectly by such Project at such time. If less than a 100% interest in the Project is owned directly or indirectly by the Company, the determination of Net Fair Market Value shall be based upon the Company’s direct or indirect percentage ownership interest of the Project. CBL shall provide Westfield with CBL’s calculation (in reasonable detail) of the Net Fair Market Vafue of each Project by no later than the earlier to occur of (x) 10 days prior to the date a determination of the Net Fair Market of such Project is needed, and (y) 30 days after Westfield’s request for such calculation. If Westfield disagrees with any portion of CBL’s calculations within 10 days of its receipt thereof (with the basis for such disagreement to be explained in reasonable detail), and the parties are unable in good faith to resolve such disagreement within 5 Business Days thereafter, then such disagreement shall be resolved by the Appraisal Process. Notwithstanding the foregoing, absent a change in circumstances that is reasonably likely to materially and adversely affect the Fair Market Value of a Project, if a determination of the Net Fair Market Value of such Project has been agreed to by die parties hereto or otherwise determined in accordance herewith, including, without limitation, by the Appraisal Process, in either case during the immediately preceding 12 month period, then CBL shall be entitled to use such previously determined amount as the Net Fair Market Value with respect to such Project, and Westfield shall not have the right to disagree with such determination of Net Fair Market Value- In determining the Net Fair Market Value of a Project, the parties may consider the most recent appraisal thereof obtained pursuant to Section 6.4(b).