Appraisal Evaluation. Upon receipt of an Appraisal, Lender will review the Appraisal in accordance with the appraisal policies and procedures of Lender and establish an Appraised Value. Lender will notify Borrower of such Appraised Value. Based on each such Appraised Value, Lender may adjust the Maximum Allowed Advances with respect to Units and Lots.
Appears in 2 contracts
Samples: Credit Agreement (William Lyon Homes), Credit Agreement (William Lyon Homes)
Appraisal Evaluation. Upon receipt of an Appraisal, the Lender will review the Appraisal in accordance with the appraisal policies and procedures of Lender and establish an a Unit Appraised Value or a Eligible Lot Appraised Value, as applicable. The Lender will notify Borrower of such Unit Appraised Value. Based on Value or Eligible Lot Appraised Value and deliver to Borrower a copy of each such Appraised Value, Lender may adjust the Maximum Allowed Advances with respect to Units and LotsAppraisal upon receipt.
Appears in 2 contracts
Samples: Modification Agreement (Crescent Operating Inc), Credit Loan Agreement (Crescent Operating Inc)
Appraisal Evaluation. Upon receipt of an Appraisal, Lender Bank will review the Appraisal in accordance with the appraisal policies and procedures of Lender Bank and establish an Appraised Value. Lender Bank will notify Borrower of such Appraised Value. Based on each such Appraised Value, Lender Bank may adjust the Maximum Allowed Advances with respect to Units and Lots.
Appears in 1 contract
Appraisal Evaluation. Upon receipt of an Appraisal, Lender will review the Appraisal in accordance with the appraisal policies and procedures of Lender and establish an determine the Appraised Value. Lender will notify Borrower of such approval of the Appraised Value. Based on each such Appraised Value, Lender may adjust the Maximum Allowed Advances with respect to Units and Lots.
Appears in 1 contract
Samples: Borrowing Base Revolving Line of Credit Agreement (Cole Credit Property Trust III, Inc.)
