PL Tangible Book Value Per Unit

PL Tangible Book Value Per Unit. The quotient of (i) PL Tangible Book Value as of the date of the most recent audited balance sheet preceding the date of determination divided by (ii) the Total PL Units as of the date of determination

PL Tangible Book Value Per Unit. As of any date shall mean the quotient of (i) PL Tangible Book Value as of the date of the most recently reported quarterly balance sheet last preceding the date of determination, as specified below in various circumstances, divided by (ii) the Total PL Units as of the date of determination