Evaluation by Evaluator Clause Samples
The 'Evaluation by Evaluator' clause establishes that a designated individual or entity is responsible for assessing certain aspects of a contract, such as performance, compliance, or quality. Typically, this clause outlines the evaluator's authority, the criteria or standards to be used, and the process for conducting the evaluation, which may include site visits, document reviews, or performance testing. Its core function is to provide an objective mechanism for determining whether contractual obligations are being met, thereby reducing disputes and ensuring accountability.
Evaluation by Evaluator. The Evaluator shall determine separately and promptly furnish to the Trustee and the Depositor upon request the value of each issue of Bonds (treating separate maturities of Bonds as separate issues) as of the Evaluation Time on the bid side of the market on the days on which the Trustee shall make the Trust Fund Evaluation required by Section 5.1 and, in addition, as of the Evaluation Time on the offering side of the market each business day during the initial public offering period. In making the evaluation the Evaluator may determine the value of each issue of the Bonds in the Trust Fund by the following methods or any combination thereof which it deems appropriate: (i) on the basis of current bid or offering prices of such Bonds as obtained from investment dealers or brokers (including the Depositor) who customarily deal in public bonds comparable to those held by the Trust Fund, (ii) if bid or offering prices are not available for any of such Bonds, on the basis of bid or offering prices for comparable bonds, (iii) by appraisal, or (iv) in its evaluation of Bonds which are in default in payment of principal or interest or, in the Depositor's opinion, in significant risk of such default ("Defaulted Bonds") on the basis of the current bid and offering prices of such Bonds and the current bid and offering prices of such issuers whose securities, if identifiable, carry identical interest rates and maturities and are of a creditworthiness comparable to the issuer of such Bonds prior to the default or significant risk of default. If such other bonds are not identifiable, the Evaluator will compare prices of bonds with substantially identical interest rates and maturities and which are of a creditworthiness of minimum investment grade or (v) by any combination of the above which it deems appropriate. The Evaluator shall also make an evaluation of the Bonds deposited in the Trust Fund as of the time said Bonds are deposited under this Indenture. Such evaluation shall be made on the same basis set forth above and shall be based upon offering prices of said Bonds. In addition to the methods of determining the value of the Bonds described above, the Evaluator may make the initial evaluation in whole or in part by reference to the Blue List of Current Municipal Offerings (a daily publication containing the current public offering prices of public bonds of all grades currently being offered by dealers and banks). The Evaluator's determination of the offering price...
Evaluation by Evaluator. The Evaluator shall determine separately and promptly furnish to the Trustee and the Depositor upon request the per Unit value of the Securities in the Trust as of the Evaluation Time on the bid side of the market on the days on which the Trustee shall make the Trust Evaluation required by Section 5.01 and, in addition, (i) as of the Evaluation Time on the offering side of the market each business day during the initial public offering period, (ii) if and as long as requested by the Depositor on the offering side of the market on each business day following such initial public offering period, and (iii) on any other day requested by the Depositor or the Trustee. In making the evaluations the Evaluator may determine the value of each issue of the securities in the Trust by the following methods or any combination thereof which it deems appropriate: (i) on the basis of current bid or offering prices of such securities as obtained from investment dealers or brokers (including the Depositor) who customarily deal in securities comparable to those held by the Trust, or (ii) if bid or offering prices are not available for any of such securities, on the basis of bid or offering prices for comparable securities, or (iii) by appraisal or (iv) by any combination of the above. The Evaluator shall also make a per Unit evaluation of the Securities deposited in the Trust as of the times said Securities are deposited under this Indenture. Such evaluation shall be made on the same basis as set forth above and shall be based upon offering prices of said Securities. The Evaluator's determination of the offering price of the Securities of the Trust on the date of deposit shall be included in the Schedules attached to the Reference Trust Agreement.
Evaluation by Evaluator. 30 Section 4.02.
Evaluation by Evaluator. 29 SECTION 4.2. Tax Reports.................................................. 30 SECTION 4.3.