Definition of Book Value Clause Samples
The 'Definition of Book Value' clause establishes how the book value of an asset, company, or interest is determined for the purposes of the agreement. Typically, it specifies the accounting principles or standards to be used, such as generally accepted accounting principles (GAAP), and may outline any adjustments or exclusions to be made in the calculation. This clause ensures that all parties have a clear, consistent understanding of how book value is calculated, thereby reducing disputes and providing a reliable basis for financial decisions or transactions.
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Definition of Book Value a. For the purposes of this Agreement, the book value of the shares shall be determined by the corporation’s regular certified public accountant, pursuant to the provisions of GAAP; however, there shall be no allowance of any kind shall be made for the corporations’ goodwill, trade name, or intangible assets.
b. Notwithstanding any other provision herein, the value of LSB shares held by any of the parties hereto shall be the average daily closing price of LSB shares on the NYSE or successor national quotation service during the previous twelve months prior to the date for which a value is being determined, less a discount (“haircut”) of 30%. For the purpose of this calculation only business days shall be used to determine price and the number of days to be considered. The book value so determined by the certified public accountant shall be binding and conclusive on all parties.
Definition of Book Value. On the transfer of all or part of a Member’s Units, the Capital Account of the transferor that is attributable to the transferred Units shall carry over to the transferee Member in accordance with the provisions of Treasury Regulation Section 1.704- l(b)(2)(iv)(l). A Member that has more than one class of Units shall have a single Capital Account that reflects all such Units; provided, however, that the Capital Accounts shall be maintained in such manner as will facilitate a determination of the portion of each Capital Account attributable to each series of Preferred Units and Profits Units.
Definition of Book Value. The term “Book Value” shall mean the consolidated book value of Legent Clearing as of the last day of the month immediately preceding the month in which the Closing Date occurs (the “Month-End Date”), determined in accordance with United States generally accepted accounting principles (“GAAP”).
Definition of Book Value. “Book Value” means for any asset the asset’s adjusted basis for federal income tax purposes, except as follows:
Definition of Book Value. Whenever in this agreement the term "book value" is used, it shall mean the book value of the stock of the Company, as of the end of the calendar month preceding termination, as determined by the certified public accountants then servicing the Company, and such determination, when made and delivered to the Company and S▇▇▇▇ or his representative, shall be binding upon all parties bound by the terms of this agreement. Such determination, which may be based on the last certified audit and carried forward unaudited, shall be made in accordance with generally accepted accounting practices and the following shall be observed:
(a) Goodwill shall be included and shall equal an amount equal to 33-1/3% of the retained earnings, if any, but goodwill shall not exceed $3,000,000.00.
(b) All outstanding Preferred Stock shall be treated as if converted pursuant to the provisions of the Certificate of Incorporation. Said determination shall be made within ten (10) days after termination of S▇▇▇▇'▇ employment.