Frequency of Appraisals. Appraisals of the Borrowing Base Property shall be conducted, and the Appraised Value of Borrowing Base Property shall be determined or redetermined, as applicable, under each of the following circumstances:
(a) in connection with the acceptance of a Property into the Borrowing Base, the Appraised Value of a Borrowing Base Property will be determined based on the Appraisal obtained, at the Borrower’s sole cost and expense, pursuant to Section 8.15; or
(b) to the extent the initial Appraisal for a Borrowing Base Property does not include values for each Property type, then in connection with a Borrower request to re-designate a Borrowing Base Property from one Collateral Category to another (e.g., from Lots Under Development to Finished Lots), Administrative Agent, at the Borrower’s sole cost and expense, will re-determine the Appraised Value based on a new Appraisal thereof; or
(c) at any time and from time to time, the Administrative Agent shall have the right to have a new Appraisal prepared, at the Borrower’s expense, for any Property included in the Borrowing Base, whose most recent Appraisal is dated more than eighteen (18) months prior to the date of the most recent Borrowing Base (or such lesser time, to the extent required by internal policies of the Administrative Agent); or
(d) [intentionally deleted]; or
(e) from time to time upon at least five (5) Business Days written notice to the Borrower and at the Borrower’s sole cost and expense, the Administrative Agent may redetermine the Appraised Value of a Borrowing Base Property (based on a new Appraisal obtained by the Administrative Agent) in any of the following circumstances:
(i) if a material adverse change occurs with respect to such Borrowing Base Property, including, without limitation, a major casualty at such Property that is not substantially covered by insurance, a material condemnation of any part of such Property, or a material change in the environmental condition of such Property; or
(ii) if necessary in order to comply with FIRREA or other Applicable Law relating to the Administrative Agent or any Lender, or to comply with Administrative Agent’s internal policies with respect to Appraisals; or
(f) at any time and from time to time when an Event of Default exists, the Administrative Agent may, in its own discretion, and shall, upon the request of the Requisite Lenders, redetermine the Appraised Value of a Borrowing Base Property (based on a new Appraisal obtained by the Administrativ...
Frequency of Appraisals. The As-Is Appraised Value of a Collateral Property shall be determined or redetermined, as applicable, pursuant to Appraisals conducted under each of the following circumstances:
(i) In connection with the proposal of a Property as a Collateral Property pursuant to Section 7.15(a), which shall include, without limitation, in connection with the initial encumbrance of the Initial Collateral Properties with Security Instruments;
(ii) If any Default or Event of Default exists, upon written request from the Administrative Agent to the Borrower;
(iii) If necessary in order to comply with FIRREA, other Applicable Law or the requirements of any Governmental Authority relating to the Administrative Agent or any of the Lenders; and
(iv) Upon written request from the Administrative Agent to the Borrower, not more than once every 12 months with respect to each Collateral Property. All Appraisals shall be engaged by the Administrative Agent at the Borrower’s expense and shall be subject to satisfactory review and approval of the Administrative Agent. Notwithstanding anything to the contrary herein, each Lender may conduct Appraisals of any Collateral Property at any time at such Lender’s expense; provided that, for the avoidance of doubt, such Appraisal shall not be used in determining or redetermining the As-Is Appraised Value of a Collateral Property.
Frequency of Appraisals. Except for annual appraisal surveys, regular members in Satisfactory status shall be appraised once every three academic years. Time spent on leave may postpone, but not cancel, an appraisal. Additional appraisals focusing on specific areas may occur with the concurrence of the Department Chair, Xxxx and appropriate Vice President with notification to the appropriate WVMFT, AFT 6554 grievance officer if:
Frequency of Appraisals. The Appraised Value of each Borrowing Base Property shall be determined or redetermined, as applicable, Borrower’s expense, under each of the following circumstances: (a) in connection with the acceptance of a Property as a Borrowing Base Property; (b) in connection with the exercise of Borrower’s option to extend the Maturity Date pursuant to Section 2.11; (c) at any time an Event of Default has occurred and is continuing; (d) if Administrative Agent determines an Appraisal of such Property is necessary in connection with its determination under Section 4.2 regarding the release of a Borrowing Base Property; (e) if necessary in order to comply with FIRREA or other Applicable Law relating to Administrative Agent or any Lender; or (f) at any other time for any reason, but not more frequently than once per year during the term of the Loans. At any other time and from time to time, Administrative Agent may (and shall at the written direction of the Requisite Lenders) redetermine the Appraised Value of a Borrowing Base Property (based on a new Appraisal obtained by Administrative Agent), at the Lenders’ expense.
Frequency of Appraisals. The Appraised Value of a Borrowing Base Property shall be determined or re-determined, as applicable, under each of the following circumstances:
(a) In connection with the acceptance of a Property as a Borrowing Base Property Lender will determine the Appraised Value thereof as provided in Section 4.1;
(b) From time to time upon at least five (5) Banking Days written notice to Borrower and at Borrower's expense, Lender may re-determine the Appraised Value of a Borrowing Base Property in any of the following circumstances:
(i) if necessary in order to comply with FIRREA, other applicable laws related to Lender, or requests by a Governmental Authority;
(ii) if Lender determines such Property contains structural defects, title defects, environmental conditions or other adverse matters material to the profitable operation of such Property (including, without limitation, negligent acts or omissions by Borrower with respect to the operation of such Property) and Lender has not declared such Property ineligible pursuant to Section 4.1(d) ; or
(iii) upon the occurrence of a Default or Event of Default.
(iv) At any time and from time to time, Lender may re-determine, at its own expense, the Appraised Value of a Borrowing Base Property;
(v) If Borrower has requested a Property Release; or
(vi) Upon Borrower's written request to Lender and at Borrower's expense, but not more frequently than one (1) time per calendar year per Borrowing Base Property, Lender shall re-determine the Appraised Value of any Borrowing Base Property.
Frequency of Appraisals. Probationary teachers shall be formally appraised at least twice each school term. Tenured teachers shall be appraised formally at least once biennially.
Frequency of Appraisals. Prior to the occurrence of a Trigger Event, Appraisals of the Borrowing Base Property shall be conducted, and the Appraised Value of Borrowing Base Property shall be determined or redetermined, as applicable, under each of the following circumstances: NAI-1501018941v4
Frequency of Appraisals. 31 Section 4.3. Frequency of Calculations of Borrowing Base............32 ------------- * This Table of Contents is not part of the Credit Agreement and is provided as a convenience only.
Frequency of Appraisals. The Appraised Value of a Collateral Property shall be determined or redetermined, as applicable, under each of the following circumstances:
(a) In connection with the acceptance of a Property as a Collateral Property the Administrative Agent will determine the Appraised Value thereof as provided in Section 4.1.; or
(b) From time to time upon at least five (5) Business Days written notice to the Borrower and at the Borrower’s expense, the Administrative Agent may (and shall at the direction of the Requisite Lenders) redetermine the Appraised Value of a Collateral Property (based on a new Appraisal obtained by the Administrative Agent) in any of the following circumstances:
(i) if a change occurs with respect to such Collateral Property that has a Material Adverse Effect (as determined by the Administrative Agent or based on the direction of the Requisite Lenders), including, without limitation, a material deterioration in the Net Operating Income of such Collateral Property, a major casualty at such Collateral Property that is not fully covered by insurance, a material condemnation of any part of such Collateral Property or a material change in the market conditions affecting such Collateral Property; or
(ii) if necessary in order to comply with FIRREA or other Applicable Law relating to the Administrative Agent or the Lenders; or
(iii) if the Administrative Agent determines an Appraisal of such Property is necessary in connection with its determination under Section 4.2.
Frequency of Appraisals. 43 Section 4.4. Frequency of Calculations of Borrowing Base. 44 ARTICLE V. YIELD PROTECTION, ETC. 44 Section 5.1. Additional Costs; Capital Adequacy. 44 Section 5.2. Suspension of LIBOR Loans. 46 Section 5.3. Illegality. 46 Section 5.4. Compensation. 46 Section 5.5. Treatment of Affected Loans. 47 Section 5.6. Affected Lenders. 47 Section 5.7. Change of Lending Office. 48 Section 5.8. Assumptions Concerning Funding of LIBOR Loans. 48 ARTICLE VI. CONDITIONS PRECEDENT 48 Section 6.1. Initial Conditions Precedent. 48
