Common use of Initial Value Clause in Contracts

Initial Value. The Managing Partner shall from time to time determine a value for the Partnership Interests (the "Initial Value") based upon such considerations as the Managing Partner, in its sole discretion, determines to be relevant to such valuation. If a Selling Partner or Outside Partner (for purposes of this Section 1.52, the "Objecting Party") does not provide written objections to Partnership concerning the Initial Value set forth in the Valuation Notice within 10 days after the date of such Valuation Notice, the Purchase Price shall be equal to the Initial Value.