Net Asset Value Determination Clause Samples
The Net Asset Value Determination clause defines the method and timing for calculating the value of a fund's or entity's assets minus its liabilities. Typically, this involves specifying the frequency of valuation (such as daily, weekly, or monthly) and the standards or methodologies to be used, including how illiquid or hard-to-value assets are treated. This clause ensures transparency and consistency in reporting asset values, which is crucial for investor confidence, accurate pricing of shares or units, and fair processing of subscriptions and redemptions.
Net Asset Value Determination. The determination of the Closing SLIC Net Asset Value shall have been completed in accordance with Section 2.4.
Net Asset Value Determination. The determination of the Closing MMLC II Net Asset Value shall have been completed in accordance with Section 2.4.
Net Asset Value Determination. (a) At the Closing, ▇▇▇▇▇ shall deliver to the Company the Preliminary Balance Sheet as of the Closing Date. The Preliminary Balance Sheet shall be prepared in a form consistent with the form attached hereto as Schedule 4.2 hereto and shall be subject to the Company’s review and approval (such approval not to be unreasonably withheld or delayed). The statement of the Preliminary Balance Sheet shall be prepared in accordance with the procedures set forth in Section 4.2(b).
(b) Not later than the ninetieth (90th) day after the Closing, or the one hundred twentieth (120th) day after the Closing if the Company, in its sole discretion, decides to conduct an audit, (i) the Company shall prepare and deliver to ▇▇. ▇▇▇▇▇▇▇ a balance sheet of the Business (as defined in the Purchase Agreement) reflecting only the Acquired Assets and the Assumed Liabilities (the “Closing Date Balance Sheet”) as of 11:59 p.m., New York, New York time, on of the Closing Date and will provide a copy of such Closing Date Balance Sheet to ▇▇. ▇▇▇▇▇▇▇, who will submit his comments and proposed changes to the Company within ten (10) Business Days from the receipt of such Closing Date Balance Sheet and (ii) based on the Closing Date Balance Sheet, the Company shall prepare a statement of the Closing Date Net Asset Value of the Business as of 11:59 p.m., New York, New York time, on the Closing Date, in a form consistent with the form attached hereto as Schedule 4.2. The Closing Date Balance Sheet shall be prepared in accordance with this Section 4.2(b). In the event of a conflict or inconsistency between Section 4.2(b)(i), Section 4.2(b)(ii) and/or Section 4.2(b)(iii), the provisions of Section 4.2(b)(iii) shall take precedence over the provisions of Section 4.2(b)(ii) and Section 4.2(b)(i), and the provisions of Section 4.2(b)(ii) shall take precedence over the provisions of Section 4.2(b)(i).
(i) The Closing Date Balance Sheet shall be determined in accordance with principles, practices and procedures which are consistent with those which were applied in the preparation of the Most Recent Financial Statements (as defined in the Purchase Agreement) with respect to the Acquired Assets and the Assumed Liabilities.
(ii) Notwithstanding anything to the contrary in Section 4.2(b)(i), if any of the accounting principles, practices or procedures required by Section 4.2(b)(i) produces asset or liability values which are not in compliance with GAAP, the Closing Date Balance Sheet shall reflect an ad...
Net Asset Value Determination. If an Option is exercised under this clause 14, the parties must procure that the Net Asset Value Amount is promptly determined in accordance with clause 16. In the event of an exercise of the Put Option, ▇▇▇▇▇▇▇’▇ Respective Proportion of the Net Asset Value Amount shall be capped at RMB15 million.
Net Asset Value Determination. Promptly, but in no event later than 60 days following the date hereof, GBDC shall cause to be determined the Net Asset Value of each of the GBDC SLF Interests
Net Asset Value Determination