Appraisals/Assessments Sample Clauses
The Appraisals/Assessments clause establishes the requirement and process for evaluating the value, condition, or suitability of certain assets, properties, or services referenced in the agreement. Typically, this clause outlines when and how appraisals or assessments must be conducted, who is responsible for arranging and paying for them, and what standards or professionals should be used. For example, in a real estate contract, it may require a licensed appraiser to determine the fair market value of a property before closing. The core function of this clause is to ensure that all parties have an objective and agreed-upon basis for valuation or condition, thereby reducing disputes and clarifying expectations.
Appraisals/Assessments. The Bank shall have the right, at the Mortgagor's sole cost and expense, to obtain appraisals, environmental site assessments or other inspections of the portions of the Property that are real estate at such times as the Bank deems necessary or as may be required by applicable law, or its prevailing credit or underwriting policies.
Appraisals/Assessments. The Bank shall have the right, at the Mortgagor's sole cost and expense, to obtain appraisals if required by a regulatory authority, environmental site assessments upon the reasonable belief that a spill has occurred or other inspections of the portions of the Property that are real estate at such times as the Bank deems necessary or as may be required by applicable law, or its prevailing credit or underwriting policies.
Appraisals/Assessments. The Lender shall have the right, at the Borrower’s sole cost and expense, to obtain appraisals, environmental site assessments or other inspections of the portions of the Property that are real estate at such times as the Lender deems necessary or as may be required by applicable law, or prevailing Lender credit or underwriting policies. Notwithstanding the foregoing, so long as no Event of Default has occurred and remains uncured and any governmental regulatory agency does not require additional appraisals, Lender shall order no more than one appraisal at Borrower’s expense during the term of the Note, and in the absence of the occurrence of a release of Materials giving rise to Lender’s reasonable belief of contamination of the Property, Lender shall not order any environmental site assessments at Borrower’s expense.