Common use of Costs of Appraisal Clause in Contracts

Costs of Appraisal. Borrower shall pay for the costs of each Appraisal and each updated Appraisal only (i) after the occurrence and during the continuance of an Event of Default or (ii) during any period in which the Agent has reasonably determined that Borrower has failed to satisfy the Cash Sweep Account Test; provided that Borrower shall not be required to pay for more than one (1) Appraisal of each Individual Property in any twelve (12) month period.

Costs of Appraisal. Borrower shall pay for the costs of each the Original Appraisal and each updated Appraisal only (i) after the occurrence and during the continuance of an Event of Default or (ii) during any period in which the Agent has reasonably determined that Borrower has failed to satisfy the Cash Sweep Account TestUpdated Appraisal; provided that Borrower shall not be required to pay for more than one (1) Updated Appraisal of each Individual Property in any twelve (12) month periodperiod unless either: (i) a Default has occurred, or (ii) Administrative Agent has determined in good faith that there is a material likelihood that an updated Appraisal would reflect a diminution in Value of the Property of five (5%) percent or more from the most recent appraisal.

Costs of Appraisal. Borrower shall pay for the costs of each the Original Appraisal and each updated Appraisal only (i) after the occurrence and during the continuance of an Event of Default or (ii) during any period in which the Agent has reasonably determined that Borrower has failed to satisfy the Cash Sweep Account TestUpdated Appraisal; provided that Borrower shall not be required to pay for more than one (1) Updated Appraisal of each Individual Property in any twelve (12) month periodperiod unless either: (i) an Event of Default has occurred, or (ii) Agent has determined in good faith that there is a material likelihood that an updated Appraisal would reflect a diminution in Value of the Property of ten (10%) percent or more from the most recent appraisal.

Costs of Appraisal. Borrower shall pay for the costs of each the Original Appraisal and each updated Appraisal only (i) after the occurrence and during the continuance of an Event of Default or (ii) during any period in which the Agent has reasonably determined that Borrower has failed to satisfy the Cash Sweep Account TestUpdated Appraisal; provided that Borrower shall not be required to pay for more than one (1) Updated Appraisal of each Individual Property in any twelve (12) month periodperiod unless either: (i) a Default has occurred, or (ii) Lender has determined in good faith that there is a material likelihood that an Updated Appraisal would reflect a diminution in value of the Property of ten (10%) percent or more from the most recent appraisal.