Common use of Basis of valuation Clause in Contracts

Basis of valuation. 2.1. Various methods of valuation are used for unquoted Investments including price earning valuations, recent transactions, net asset valuation, yield basis and impending exit. The appropriateness of the methodology used is judged on a case by case basis. 2.2. Where an Investment is quoted on a recognised stock exchange, then there is some basis for judging its value on independent assessable measures. A mid-market price is normally used, but sometimes the size of the Investment and restrictions on sale will result in the necessity to discount. 2.3. A complete valuation of every Investment in the Portfolio will be carried out on [●] in each financial year. This process will be reviewed by the Auditors. 2.4. All valuations will be monitored and reviewed half-yearly and, when material changes are clearly required, appropriate adjustments will be made.] • Any activity: o that represents a wholly statutory duty on public bodies; o that targets the production of weapons and ammunition, arms, military or police equipment or infrastructures, and equipment or infrastructure which result in limiting people's individual rights and freedom (i.e. prisons, detention centres of any form) or in violation of human rights; o which gives rise to environmental impacts that are not largely mitigated and/or compensated (including but not limited to projects in protected areas, critical habitats and heritage sites); o that is considered ethically or morally controversial. Examples of such activities include: sex trade and related infrastructure, services and media; animal testing; and research on human cloning, etc.; and/or o that is prohibited by national legislation (only where such legislation exists). Examples include: Genetically Modified Organisms (GMO); abortion clinics; and nuclear energy, etc. o o Housing construction and renovation • Involving any party: o in relation to which more than 10% of its annual revenue is generated by any of the following activities: ▪ activities targeting the production or facilitating the use of gambling and related equipment; and