Certificate of Value definition
Examples of Certificate of Value in a sentence
The parties acknowledge that upon any subsequent sale of the Property by Lessor the City of Chicago will require that a Certificate of Value or equivalent be filed by the buyer of the Property, in accordance with City Ordinances, disclosing the true and full sale price paid by such buyer for the Property, which may then result in the Assessor for the City of Chicago increasing the assessed valuation of the Property and thereby lead to an increase in the annual ad valorem taxes imposed on the Property.
The initial Value for each share of Stock is $1.00 Hereafter, annually, at the time of the Annual Meeting of Shareholders, and the Annual Meeting of Directors of the Corporation, Corporation and any Named Shareholders will fix the Value for each share of Stock, and as evidence of having fixed the Value, will execute a Certificate of Value.
Should no Certificate of Value be entered within 24 months of the Valuation Date, the value of the Corporation shall be determined pursuant to Section 7.5 of this Article VII.
If a Certificate of Value has been executed within one (1) year of the event giving rise to purchase hereunder, then the value found therein shall be the purchase price for a share of Shop-Vac stock.
The failure to fix such terms and conditions regarding the payment of the purchase price and/or delivery of Stock shall not in any way affect the validity of the value thereof fixed in any Certificate of Value, and Article VIII and any Article(s) of this Agreement indicating terms and conditions regarding payments and/or delivery of Stock shall then pertain.
In determining the value of the Corporation, the Accountant shall begin with the most recently executed Certificate of Value of the Corporation and shall use the accounting methods normally used in the maintenance of the Corporation's books and records, consistent with prior years and proper accounting principles consistently applied.
Simultaneously herewith, the parties hereto have executed a Certificate of Value, annexed hereto, which fixes the value per share of Stock which may be purchased pursuant to Article IV, V or VI of this Agreement as of the date hereof.
The Shareholders and Successor Shareholders shall attempt, during the month of April of each year, to execute a Certificate of Value in substantially the same form as that set forth in Appendix "B".
The Certificate of Value is attached to this Agreement as Schedule C.
Broker or selected by Buyer, a Certificate of Value is filed with a real estate transfer to provide the financial terms of the property transfer, and any other agreements not incorporated hereinin writing are void and of no force and effect.