Tangible Book Value

Tangible Book Value. The calculated value of one LTIP Unit, as determined by the Board, in good faith and considering such factors as it deems appropriate. Tangible Book Value shall be determined annually on the last day of each Plan Year, or in such other intervals as may be determined in the discretion of the Board. In the case of a Change in Control, Tangible Book Value shall be determined as of the date of such Change in Control.