Common use of Approval of valuers Clause in Contracts

Approval of valuers. All valuers must have been approved. The Agent may (acting on the instructions of the Majority Lenders) from time to time notify the Borrower of approval of one or more independent ship brokers as valuers for the purposes of this clause 25. The Agent shall (following receipt of instructions of the Majority Lenders) respond promptly to any request by the Borrower for approval of a broker nominated by the Borrower. The Agent may (acting on the instructions of the Majority Lenders) at any time by notice to the Borrower withdraw any previous approval of a valuer for the purposes of future valuations. That valuer may not then be appointed to provide valuations unless it is once more approved. If the Agent has not approved at least three brokers as valuers at the time when the valuation is required under this clause 25, the Agent shall (acting on the instructions of the Majority Lenders) promptly notify the Borrower of at least three valuers which are approved. The approved valuers as at the date of this Agreement are Affinity (Shipping) LLP, Clarkson Valuations Ltd., Poten & Partners Inc., Braemar ACM Valuations Ltd. and Fearnleys AS. 113

Approval of valuers. All valuers must have been approved. The Agent Lender may (acting on the instructions of the Majority Lenders) from time to time notify the Borrower of approval of one or more independent ship brokers or other persons as valuers for the purposes of this clause 2526. The Agent Lender shall (following receipt of instructions of the Majority Lenders) respond promptly to any request by the Borrower for approval of a broker nominated by the Borrower. The Agent Lender may (acting on the instructions of the Majority Lenders) at any time by notice to the Borrower ​ withdraw any previous approval of a valuer for the purposes of future valuationsvaluations if such valuer is no longer on the Lender’s approved panel of valuers. That valuer may not then be appointed to provide valuations unless it is once more approved. If the Agent Lender has not approved at least three brokers as valuers at the a time when the a valuation is required under this clause 2526, the Agent Lender shall (acting on following consultation with the instructions of the Majority LendersBorrower) promptly notify the Borrower of the names of at least three valuers which are approved. The approved valuers as at On the date of this Agreement Agreement, the following valuers are Affinity (Shipping) LLP, Clarkson approved: Braemar ACM Valuations Ltd., Poten Xxxx Xxxxxxxx & Partners Inc.Co Ltd, Braemar ACM Xxxxxxx Xxxxxx Xxxxx Ltd, Fearnleys A/S, Maritime Strategies International Ltd, Golden Destiny S.A., Arrow Shipbroking Group Limited and Clarksons Valuations Ltd. and Fearnleys AS. 113Limited Securities.

Approval of valuers. All valuers must have been approved. The Agent may (acting on the instructions of the Majority LendersLenders and following consultation with the Borrower) may from time to time notify the Borrower of approval of one or more independent ship brokers or other persons as valuers for the purposes of this clause 2526. The Agent shall (following receipt of instructions of the Majority Lenders) respond promptly to any request by the Borrower for approval of a broker nominated by the Borrower. The Agent may (acting on the instructions of the Majority Lenders) at any time by notice to the Borrower withdraw any previous approval of a valuer for the purposes of future valuationsvaluations if such valuer is no longer on the Agent's or a Lender's approved panel of valuers. That valuer may not then be appointed to provide valuations unless it is once more approved. If the Agent has not approved at least three brokers as valuers at the a time when the a valuation is required under this clause 2526, the Agent shall (acting on following consultation with the instructions of the Majority LendersBorrower) promptly notify the Borrower of the names of at least three valuers which are approved. The approved valuers as at On the date of this Agreement Agreement, the following valuers are Affinity (Shipping) LLP, Clarkson Valuations approved: Braemar Seascope Ltd., Poten Hxxx Rxxxxxxx & Partners Inc.Co Ltd, Braemar ACM Sxxxxxx Xxxxxx Yxxxx Ltd, Fearnleys A/S, Maritime Strategies International Ltd, Golden Destiny S.A., Arrow Shipbroking Group Limited, Clarksons Valuations Ltd. Limited Securities and Fearnleys AS. 113MB Shipbrokers.