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For purposes of this paragraph, the fair market value
of the Assigned Partnership Interest as of the date of
this Assignment Agreement shall be the price at which
the Assigned Partnership Interest would change hands as
of the date of this Assignment Agreement between a
hypothetical willing buyer and a hypothetical willing
seller, neither being under any compulsion to buy or
sell and both having reasonable knowledge of relevant
facts. Any dispute with respect to the allocation of
the Assigned Partnership Interests among Assignees
shall be resolved by arbitration as provided in the
Partnership Agreement.
The Confirmation Agreement
In March 1996, the assignees executed a Confirmation
Agreement (the confirmation agreement) allocating the gifted
interest among themselves as follows:
Assigned
Partnership
Assignee Interest
Charles T. McCord, III, GST Trust 8.24977954%
Michael S. McCord GST Trust 8.24977954
Frederick R. McCord GST Trust 8.24977954
Stephen L. McCord GST Trust 8.24977954
Charles III 11.05342285
Michael 11.05342285
Frederick 11.05342285
Stephen 11.05342285
CFT 3.62376573
Symphony 1.49712307
Total 82.33369836%
The assignees based that determination on an appraisal report,
dated February 28, 1996, prepared at the behest of the children’s
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