Collateral Appraisal. The Company shall obtain an initial appraisal of the Collateral (the “Initial Appraisal”) pursuant to the definition of the “Appraised Value” and deliver that Initial Appraisal to the Trustee within 60 days of the Issue Date. If, following the Issue Date, FCC Licenses that form part of the Collateral accounting for up to 10% of the aggregate MHz-POPs of all the FCC Licenses constituting the Collateral are forfeited to the FCC, on any date, as a result of the Company’s failure to meet its buildout milestones with respect to such forfeited FCC Licenses (such date, the “Forfeiture Date”), the Company within 60 days of such Forfeiture Date shall obtain a written appraisal (the “Forfeiture Appraisal”) of the Collateral pursuant to the definition of the “Appraised Value” and shall deliver a certificate to the Trustee stating that the LTV Ratio as of the date of the appraisal does not exceed 0.375 to 1.00 (the “First Certificate”); provided that if such LTV Ratio exceeds 0.375 to 1.00, and, therefore, the foregoing First Certificate cannot be delivered, then within 60 days of receipt by the Company of the Forfeiture Appraisal and subject to the First Lien Intercreditor Agreement and the Security Documents, the Company shall: (i) add additional Spectrum Asset Guarantors and/or pledge (or cause to be pledged) cash (provided that any such cash shall be held in a deposit account established by the Company subject to the sole dominion and control of the Collateral Agent with respect to which the Company shall not have withdrawal rights prior to the repayment in full of the Notes pursuant to a customary account control agreement, reasonably satisfactory to the Collateral Agent, that will provide, among other things, the cash in such account shall not be invested and need not accrue any interest) or additional Collateral to secure the Notes and (ii) provide a certificate to the Trustee stating that, after giving effect to such joinders, the LTV Ratio is not greater than 0.375 to 1.00 (the “Second Certificate”). The Company will make, upon request, available for inspection by the Holders any applicable appraisals from an Independent Appraiser conducted pursuant to the definition of the “Appraised Value” with respect to such additional Collateral; provided that, solely for purposes of this clause (ii), the Company shall not be required to obtain an updated appraisal with respect to the Collateral appraised in the Forfeiture Appraisal. Neither the Trustee nor the Collatera...
Collateral Appraisal. Upon Lender’s request, Borrower shall, at the Borrower’s expense, provide to Lender an appraisal of the Collateral, including an Accounts and Inventory audit, by a third-party appraiser acceptable to the Lender in its sole discretion, provided, that so long as no Default or Event of Default has occurred and is continuing, Lender shall not request such appraisal of Collateral more than once per calendar year.
Collateral Appraisal. No later than 120 days following the Amendment Effective Date, Lender shall have received an inventory appraisal of Borrower's Inventory, performed by appraisers retained by Borrower and acceptable to Lender, in form and substance satisfactory to Lender and reflecting asset values of Borrower at levels acceptable to Lender. No later than thirty days following the Amendment Effective Date Borrower shall have initiated such inventory appraisal and provided to Lender evidence thereof.
Collateral Appraisal. The Company acknowledges that Xxxxx Fargo is exercising its rights under Section 5.9(d) of the Credit Agreement to order a Collateral appraisal.
Collateral Appraisal. The Lenders shall have received copies of a satisfactory independent collateral appraisal of the assets of Quail Tools prepared by Superior Asset Appraisals.
Collateral Appraisal. Upon reasonable request of REG, Blackhawk shall, at Blackhawk’s expense, provide to REG an appraisal of the Collateral by a third-party appraiser reasonably acceptable to REG, provided, that so long as no Default or Event of Default has occurred and is continuing, REG shall not request such appraisal of Collateral more than once per calendar year.
