Minimum Valuation definition
Examples of Minimum Valuation in a sentence
Minimum Valuation £10,000,000 The ASA has a minimum valuation instead of a maximum valuation CAP.
From and after the issuance of the TIF Note and so long as the TIF Note remains outstanding and unpaid, Redeveloper, together with its successors and assigns, including subsequent purchasers of land within the Redevelopment Project Area, shall not protest any taxable valuation assessed for the Redevelopment Project Area, as determined by the appropriate assessing and taxing officials of Dawson County, Nebraska, for purposes of local ad valorem real estate taxes, to an amount below the Minimum Valuation.
The Redevelopment Contract further provides that Redeveloper, and its successors and assigns shall not: (a) protest the real property valuation of the Redevelopment Project Area to a sum less than the Minimum Valuation; or (b) convey the Redevelopment Project Area, or portion thereof, or any structures or units thereon to any entity which would be exempt from the payment of real estate taxes or cause the nonpayment of such real estate taxes.
Also, the Governing Documents provide that the Minimum Valuation Condition must be satisfied in order to avoid the requirement that the IPO be approved by either (a) the affirmative vote of each of the Outside Directors or (b) the affirmative vote and concurrence of 66 2/3% of the Series D Preferred Stock then outstanding.
Buyer hereby agrees and acknowledges that if construction of the Dwelling Unit has not commenced by the Commencement Date, Seller shall have the right to set the Effective Date for the Property (as more fully set forth in the Redevelopment Agreement) on or any time after the Commencement Date and Buyer shall have the obligation to make a payment in lieu of taxes based upon the Minimum Valuation, even if no improvements are constructed on the Property.
Each of TAO and Hakkasan Parent agrees that the determination of the Fair Market Value and Minimum Valuation by the Appraiser shall, absent manifest error, be deemed to be final, conclusive and binding on TAO and Hakkasan Parent.
If, during the period of this Redevelopment Contract and after the filing of a notice to divide, a portion of the Project Site is assessed at less than the Minimum Valuation, Redeveloper agrees to defer receipt of any shortfall in TIF Revenues caused thereby.
Notwithstanding the foregoing, if the Equity Financing is made at a Company valuation which is lower than the Minimum Valuation (a “Down Round”), the number of Safe Preferred Shares that the Company will issue to the Investor in conjunction with the consummation of the Equity Financing shall be equal to the price per share determined in such Equity Financing (without a discount thereon).
The "Minimum Valuation" shall be equal to (D / E) x 2.5%, where D is the total dollar amount of the equity financing closed, with such amount, less selling expenses, made available to K2, by the Valuation Date, and E is the percentage which the number of shares sold in the Equity Financing as of the Valuation Date is of the 10,000,000 total shares to be outstanding on or about the Valuation Date.
However, the 2.5% will be adjusted upward by 1.0%, to a total of 3.5%, if, by December 31, 2004 (the "Valuation Date"), a sufficient amount of funds have not been closed in connection with the Equity Financing (as defined in Section 7.6), such that the Minimum Valuation, as defined below, shall be at least $533,000.