Additional Appraisals. Notwithstanding anything in this Section 3.6 to the contrary, Administrative Agent may order updated Appraisals (i) if such Appraisals are required by any laws, rules, regulations or generally applicable appraisal policies and lending procedures of Administrative Agent, (ii) if an Event of Default by Borrower or any other Loan Party has occurred and is continuing, or (iii) if Administrative Agent deems such Appraisals to be necessary based upon changes in land values or other market conditions; provided, however, Administrative Agent may only order an updated Appraisal pursuant to this clause (iii) one (1) time per calendar year per Qualified Property. Borrower shall pay the cost and expense of all Appraisals obtained by Administrative Agent in accordance with this clause (d).
Additional Appraisals. The Borrower shall promptly pay, upon demand, the costs and expenses associated with any appraisal on machinery, equipment, real property and other fixed assets of Borrower and its Subsidiaries, which appraisals may be required by the Agent in its sole discretion no more frequently than once during each Fiscal Year.
Additional Appraisals. If the Bank reasonably determines that the value of the Mortgaged Property may have materially diminished since the date of this Agreement or there is an Event of Default, then the Bank shall have the right to obtain an updated appraisal in form and substance satisfactory to the Bank meeting the same requirements as the initial appraisal required by the Commitment. The Borrower shall be required to pay for any such appraisal obtained once during the term of the Loan, as the case may be.
Additional Appraisals. If at any time Agent reasonably determines that the value of the Mortgaged Property may have materially diminished since the date of this Agreement or there is a Default or an Event of Default, then Agent shall have the right to obtain an updated appraisal in form and substance satisfactory to Agent. Unless there is any existing Event of Default in which case Borrower must pay for all appraisals, Borrower shall only be required to pay for any such appraisal obtained once every three (3) years during the term of the Loan.
Additional Appraisals. (i) Without duplication of any appraisals required to be conducted by the Appraiser or any Appraisal Reports required to be delivered to the Lenders, in each case pursuant to Section 5.01(m), cause the Appraiser to conduct an appraisal of the then current Aircraft Value of the Aircraft and to deliver an Appraisal Report in respect thereof to the Lenders by no later than 45 days prior to each 3-month anniversary of the Effective Date occurring on and after the Amendment No. 3
Additional Appraisals. Notwithstanding anything in this SECTION 3.6 to the contrary, the Lender may order updated Appraisals at the sole cost and expense of Borrower (i) if such Appraisals are required by any laws, rules, regulations, or generally applicable lending procedures; (ii) if the Lender determines in its reasonable discretion that there has occurred or is occurring a general deterioration in market conditions affecting any Approved Subdivision; (iii) upon the failure of Borrower to meet any absorption assumptions in an existing Appraisal; or (iv) with respect to Eligible Collateral, annually after receipt of the original Appraisal, in the sole and absolute discretion of the Lender. Any required adjustments to the Unit Collateral Value or the Eligible Lot Collateral Value as a result of such updated Appraisals will be made effective upon 30 days written notice from the Lender to Borrower setting forth the adjusted Unit Appraised Values or Eligible Lot Appraised Values based on the Lender's review of such reappraisals or valuations.
Additional Appraisals. Lender shall have the right to obtain, on an annual basis or more often if Lender deems necessary in its sole and absolute discretion, an appraisal of the Equipment and/or the Inventory from an appraiser selected by Lender in its sole and absolute discretion (each, the “Additional Appraisals”) at the sole cost and expense of Borrower. If the Additional Appraisals for Equipment sets forth Equipment that is Missing, Damaged, Sold or Devalued Equipment, Borrower shall with respect to such Missing, Damaged, Sold or Devalued Equipment, immediately pay Lender the amounts as described in Section 4(c) of the Loan Agreement Schedule.
Additional Appraisals. At any time and from time to time Administrative Agent may obtain a new Appraisal of the Project, provided, however, unless an Event of Default has occurred and is continuing, Borrower shall not be obligated to pay or reimburse Administrative Agent for an Appraisal more that once during a twelve-month period.
Additional Appraisals. Notwithstanding anything in this Section 3.16 to the contrary, Lender may order updated Appraisals at Borrower’s sole cost and expense; provided, however, Borrower shall only be required to pay for one Appraisal per Approved Subdivision in any twelve (12) Calendar Month period unless (i) if such Appraisals are required by any laws, rules, regulations, or generally applicable appraisal policies and lending procedures of Lender at any time and from time to time; (ii) if any Material Adverse Change with respect to the Project exists or any Event of Default or Unmatured Event of Default exists; or (iii) more than 5% of the subject Approved Subdivision is subject to condemnation by any Governmental Authorities.
Additional Appraisals. 31 5.10 Negative Pledge...............................................32
