A recent decision of the Delaware Court of Chancery applies a practical standard to uphold the valuation of shares based on a procedure in an LLC Agreement that called for a third-party to perform a valuation in connection with the right to put shares. In PECO Logistics, LLC. V. Walnut Investment Partners, L.P., C.A. No. 9978-CB (Del. Ch. Dec. 30, 2015), there was no challenge to the independence of the third-party valuation firm, but the LLC Agreement did not supply a standard of review for disputes about how the valuation was done. This opinion is useful for those who need to know the standard the Delaware courts will apply for challenges to a valuation performed pursuant to common contractual provisions that allow for valuations by third-parties but which do not address how to resolve disputes about the results of the valuation or how the valuation was performed.