Determination of Values Clause Samples
The "Determination of Values" clause establishes the method by which specific financial or quantitative figures are calculated or agreed upon within a contract. Typically, this clause outlines the procedures, standards, or reference sources to be used when determining values such as asset prices, damages, or settlement amounts, and may specify the involvement of independent experts or third-party appraisers. Its core practical function is to ensure consistency and fairness in the valuation process, thereby reducing disputes and ambiguity over how key figures are established during the contract's performance or upon its termination.
Determination of Values. The Borrower will conduct reviews of the value to be assigned to each of its Portfolio Investments as follows:
Determination of Values. For the purposes of this Agreement and not to be required to be utilized for any other purpose (including, for the avoidance of doubt, the Borrower’s financial statements, valuations required under the Financial Accounting Standards Board Accounting Standards Codification Topic 820, Fair Value Measurement (ASC 820) or valuations required under the Investment Company Act), the Borrower will conduct reviews of the value to be assigned to each of its Portfolio Investments included in the Borrowing Base as follows:
Determination of Values. For purposes of the Loan Documents, the Eligible Portfolio Investments shall be valued as follows:
Determination of Values. The method of determination by the Company of the Net Investment Factor, and the number and value of Accumulation Units and Annuity Units, will be conclusive upon the Owner, any assignee, the Annuitant, and any beneficiary.
Determination of Values. Policy Value. Cost of insurance charges. Excess amount. Variable paid-up additional insurance.
Determination of Values. The method of determination by the Company of the Net Investment Factor, of the number and value of Accumulation Units and Annuity Units, and of the declared rates in the Guaranteed Return Fund Accounts, will be conclusive upon the Owner, and upon any assignee, participant, annuitant, or beneficiary.
Determination of Values. The Borrower will conduct reviews of the value to be assigned to each of its Portfolio Investments as follows:
(A) Quoted Investments - External Review. With respect to Portfolio Investments (including Cash Equivalents) for which market quotations are readily available, the Borrower shall, not less frequently than once each calendar week, determine the market value of such Portfolio Investments which shall, in each case, be determined in accordance with one of the following methodologies (as selected by the Borrower):
Determination of Values. For the purposes of this Agreement and not to be required to be utilized for any other purpose (including, for the avoidance of doubt, the Borrower’s financial statements, valuations required under the Financial Accounting Standards Board Accounting Standards Codification Topic 820, Fair Value Measurement (ASC 820) or valuations required under the Investment Company Act), the Borrower will conduct reviews of the value to be assigned to each of its Portfolio Investments as follows: 124 Revolving Credit Agreement (A) Quoted Investments - External Review. With respect to Portfolio Investments (including Cash Equivalents) traded in an active and orderly market (as determined by the Borrower) and for which market quotations are readily available (each, a “Quoted Investment”), the Borrower shall value such Quoted Investments in accordance with its Valuation Policy and, solely with respect to Portfolio Investments included in the Borrowing Base, not less frequently than once each calendar quarter, determine the market value of such Quoted Investments which shall, in each case, be determined in accordance with one of the following methodologies (as selected by the Borrower): (w) in the case of public and 144A securities, the average of the bid prices as determined by two (2) Approved Dealers selected by the Borrower, (x) in the case of bank loans, the average of the bid price and the ask price as determined by one (1) Approved Dealer selected by the Borrower, (y) in the case of any Quoted Investment traded on an exchange, the closing price for such Quoted Investment most recently posted on such exchange, and (z) in the case of any other Quoted Investment, the fair market value thereof as determined by an Approved Pricing Service selected by the Borrower; and (B) Unquoted Investments - External Review. With respect to each Portfolio Investment for which market quotations are not readily available (each, an “Unquoted Investment”), the Borrower shall assign a value to each Unquoted Investment in a manner consistent with its Valuation Policy as of the last day of each fiscal quarter (each, a “Testing Quarter”); provided that the Borrower shall request an Approved Third- Party Appraiser to assist the board of directors of the Borrower (or the External Managers, so long as it has the necessary delegated authority) in determining the fair market value as of the last day of each Testing Quarter of no less than 35% of the aggregate number of all Unquoted Investments that h...
Determination of Values. The Borrower will conduct reviews of the value to be assigned to each of its Eligible Portfolio Investments (and, as required on Schedule 1.01(f), each of its Non-Core Assets), as follows:
Determination of Values. The Borrower will conduct reviews of the value to be assigned to each of its Portfolio Investments included in the Credit Facility First Priority Collateral as follows: