<p style="line-height: 20.8px;">The Delaware Court of Chancery recently explained the calculation of a put price for units in&nbsp;PECO Logistics, LLC v. Walnut Investment Partners, L.P.</p> <p style="line-height: 20.8px;">The LLC Agreement provided as following methodology for calculating the Put Price;</p> <p style="line-height: 20.8px;">&ldquo;Total Equity Value&rdquo; means the aggregate proceeds which would be received by the Unitholders if: (i) all of the assets of the Company were sold at their fair market value to an unrelated third-party on arm&rsquo;s-length terms, with neither the seller nor the buyer being under compulsion to buy or sell such assets; (ii) the Company satisfied and paid in full all of its obligations and liabilities (including all Taxes, costs and expenses incurred in connection with such transaction and any amounts reserved by the Board with respect to any contingent or other liabilities); and (iii) such net sale proceeds were then distributed in accordance with the distribution provisions of Section 4.1(b), all as determined by the Board.</p>