NAV
            NAV. Shall mean the Company's net asset value, calculated pursuant to the Valuation Guidelines.
                    
    
                            
                    
            
            NAV. Shall mean the net asset value of the Company or its Shares, of the Operating Partnership or its units, as applicable, calculated pursuant to the Valuation Guidelines.
                    
            
            Found in
                        
                Ashford Inc. contract
            
        
    
                    
            NAV. The Company's net asset value, calculated pursuant to the Valuation Guidelines; provided, however, that until the Registration Statement is declared effective by the Securities and Exchange Commission, the NAV will be calculated in accordance with past practices and will not be calculated on a daily basis.
                    
    
                    
            
            NAV. Shall mean net asset value.
                    
    
                    
    
        
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