Asset Appraisals. During the existence of an Event of Default, the Companies agree to reimburse the Agent for the costs and expenses relating to Inventory appraisals and Equipment appraisals. All appraisals shall be performed by qualified appraisers selected by the Agent. To the extent that the Companies are required by this Section 7.2(i) to reimburse the Agent for the Agent’s costs and expenses relating to appraisals, such costs and expenses shall constitute Out-of-Pocket Expenses.
Asset Appraisals. From time to time upon the request of the Agent, each Company agrees to permit the Agent to perform appraisals of such Company's Inventory, Equipment and Real Estate covered by a mortgage or deed of trust in favor of the Agent. The Companies jointly and severally agree to reimburse the Agent for the costs and expenses relating to (w) up to one Inventory appraisals in any twelve-month period, so long as no Event of Default shall have occurred and remain outstanding, (x) one Equipment appraisal in any twelve-month period, so long as no Event of Default shall have occurred and remain outstanding, (y) one Real Estate appraisal in any twelve-month period, so long as no Event of Default shall have occurred and remain outstanding, and (z) all such appraisals performed while an Event of Default remains outstanding. All appraisals shall be performed by qualified appraisers selected by the Agent. To the extent that any Company is required by this Section 7.2(i) to reimburse the Agent for the Agent's costs and expenses relating to appraisals, such costs and expenses shall constitute Out-of-Pocket Expenses.
Asset Appraisals. If requested by the Agent each year hereafter, an appraisal of the Borrower's assets as of December 31 of the prior year performed by an appraiser acceptable to the Agent and using methodology acceptable to the Agent.
Asset Appraisals. From time to time upon the request of the Lender, each Credit Party agrees to permit the Lender to perform appraisals of such Credit Party’s Inventory, Equipment and Real Estate covered by a mortgage or deed of trust in favor of the Lender. The Company agrees to reimburse the Lender for the reasonable costs and expenses relating to (however to the extent such appraisal has been performed by CIT, Lender will accept copies of such appraisal) and shall not conduct its own appraisal at any time prior to the termination of the CIT Financing Agreement (i) up to two (2) Inventory appraisals if requested by CIT in any twelve (12)-month period, so long as no Event of Default shall have occurred and remain outstanding, (ii) one (1) Equipment appraisal in any twelve (12)-month period, so long as no Event of Default shall have occurred and remain outstanding, (iii) one (1) appraisal with respect to each parcel of Real Estate in any twelve (12)-month period, so long as no Event of Default shall have occurred and remain outstanding, (iv) one (1) appraisal with respect to the Monaca Power Plant in any twelve (12)-month period, so long as no Event of Default shall have occurred and remain outstanding, and (v) all such appraisals performed while an Event of Default remains outstanding; provided, however, that with respect to the preceding clauses (ii), (iii) and (iv) only, if CIT or the Company furnishes to the Lender a copy of a recent appraisal of the type described in such clauses that was performed pursuant to the CIT Transaction Documents, together with a reasonably satisfactory reliance letter from the appraisal firm in favor of the Lender, prior to the engagement of an appraisal firm selected by the Lender to conduct a similar appraisal, and such appraisal was performed by an independent appraisal firm reasonably satisfactory to the Lender and the form, scope and substance of such appraisal (including, without limitation, the date of performance of such appraisal) is reasonably satisfactory to the Lender, then the Company shall not be required to reimburse the Lender for a similar appraisal during the twelve (12)-month period from the date of such appraisal. All appraisals shall be performed by qualified appraisers selected by the Lender. To the extent that the Company is required by this Section 7.2(i) to reimburse the Lender for the Lender’s costs and expenses relating to appraisals, such costs and expenses shall constitute Out-of-Pocket Expenses.
Asset Appraisals. From time to time upon the request of the Agent, the Company agrees to permit the Agent to perform appraisals of the Silver Xxxx Equity Interest and the Company’s Inventory and Equipment. The Company agrees to reimburse the Agent for the actual costs and expenses relating to (i) up to two (2) appraisals of the Silver Xxxx Equity Interest, Inventory or Equipment in any twelve month period so long as no Event of Default shall have occurred and remain outstanding, provided that the second appraisal in any twelve month period will only be conducted if so recommended by the Collateral Consultant, and (ii) all such appraisals performed while an Event of Default shall remain outstanding. All appraisals shall be performed by qualified appraisers selected by the Agent. To the extent that the Company is required by this Section 6.2(i) to reimburse the Agent for the Agent’s costs and expenses relating to appraisals, such costs and expenses shall constitute Out-of-Pocket Expenses.
Asset Appraisals. Receipt and review of asset appraisal reports satisfactory to the Administrative Agent prepared no more than twelve (12) months prior to the Closing Date with respect to (A) all of the real and personal property of the Borrower and the Guarantors (other than the Designated JV Subsidiaries) demonstrating that the aggregate amount of the Term Loans does not exceed the sum of (I) 50% of the net book value of equipment owned by the Borrower and the Guarantors (other than the Designated JV Subsidiaries) and (II) 75% of the aggregate face amount of the applicable Intercompany Term Loan Notes securing the Term Loans, and (B) all of the real and personal property of each Term Loan Subsidiary showing that the amount of the Intercompany Term Loan Notes of such Term Loan Subsidiary does not exceed the sum of (I) 80% of the appraised value of the real property being financed or refinanced by such Intercompany Term Loan Note, and (II) 50% of the net book value of equipment being refinanced by such Intercompany Term Loan Note.
Asset Appraisals. From time to time upon the request of CIT, the Company agrees to permit CIT to perform appraisals of the Company’s Inventory and Equipment. The Company agrees to reimburse CIT for the costs and expenses relating to (w) up to 2 Inventory appraisals in any twelve-month period, so long as no Event of Default shall have occurred and remain outstanding, (x) one Equipment appraisal in any twelve-month period, if an Event of Default shall have occurred and remain outstanding, except that the Company shall not be obligated to reimburse CIT for costs and expenses of an Equipment appraisal if the Company provides to CIT within five (5) Business Days of request, an Equipment appraisal performed by Prencen Lending LLC in the prior six month period, (y) INTENTIONALLY DELETED, and (z) all Inventory appraisals performed while an Event of Default remains outstanding. All appraisals shall be performed by qualified independent appraisers selected by CIT or, in the case of an Equipment appraisal, by CIT or Prencen Lending LLC, as applicable. To the extent that the Company is required by this Section 7.2(i) to reimburse CIT for CIT’s costs and expenses relating to appraisals, such costs and expenses shall constitute Out-of-Pocket Expenses.
Asset Appraisals. From time to time upon the request of CIT, the Company agrees to permit CIT to perform appraisals of the Company’s Inventory. The Company agrees to reimburse CIT for the costs and expenses relating to one (1) Inventory appraisal in any twelve-month period, so long as no Event of Default shall have occurred and remain outstanding, and all such appraisals performed while an Event of Default remains outstanding. All appraisals shall be performed by qualified appraisers selected by CIT. To the extent that the Company is required by this Section 7.2(i) to reimburse CIT for ClT’s costs and expenses relating to appraisals, such costs and expenses shall constitute Out-of-Pocket Expenses.
Asset Appraisals. From time to time upon the request of the Agent, the Companies agree to permit the Agent to perform appraisals of the Companies’ Inventory. The Companies agree to reimburse the Agent for the Out-of-Pocket costs relating to such appraisals of the Companies’ Inventory; provided, however, the maximum number of Inventory appraisals for which the Companies shall be responsible to reimburse the Agent for its costs and expenses shall be one (1) Inventory appraisal conducted in any Contract Year while no Event of Default exists. Any Inventory appraisal conducted while an Event of Default exists shall not be subject to the foregoing limitation.
Asset Appraisals. From time to time upon the request of the Agent, the Borrowers agree to permit the Agent to perform appraisals of the Borrowers’ Inventory. The Borrowers agree to reimburse the Agent for the reasonable and documented costs and expenses relating to (y) no more than one (1) Inventory appraisal in any twelve-month period (but only if the Eligible Accounts Receivable component of the Borrowing Base is fully drawn and the amount of Revolving Loans outstanding under the Eligible Inventory component of the Borrowing Base is at least $25,000,000 at the time such appraisal is conducted), so long as no Event of Default shall have occurred and remain outstanding, and (z) all appraisals performed while an Event of Default remains outstanding. All appraisals shall be performed by qualified appraisers selected by the Agent. To the extent that the Borrowers are required by this Section 7.2(i) to reimburse the Agent for the Agent’s reasonable and documented costs and expenses relating to appraisals, such costs and expenses shall constitute Out-of-Pocket Expenses.
