Common use of Frequency of valuations Clause in Contracts

Frequency of valuations. The Borrower shall provide the Agent with a valuation of the Ship, dated as of June or, as the case may be, December, on the date on which the Agent receives any financial statements in accordance with paragraphs (a) and (b) of Clause 11.6 for the period ending on the dates referred to above in respect of which the Market Value of the Ship will be determined and the Agent may, otherwise, request valuations to determine the Borrower’s compliance under Clause 15.1 not less than twice during each 12-month period during the Security Period.

Frequency of valuations. The Each Borrower shall provide the Agent with a valuation of the ShipShip owned by it, dated as of June or, as the case may be, December, on the date on which the Agent receives any financial statements in accordance with paragraphs (aClauses 11.7(a) and (b11.7(b) of and the Compliance Certificate in accordance with Clause 11.6 for the period ending on the dates referred to above in respect of which the Market Value of the Ship will be determined 11.18 and the Agent may, otherwise, request valuations to determine the Borrower’s Borrowers’ compliance under Clause 15.1 not less than twice during each 12-month period during the Security Period.

Frequency of valuations. The Borrower shall provide the Agent with a valuation of the each Ship, dated as of June or, as the case may be, DecemberDecember of each calendar year during the Security Period, on within the date on which the Agent receives any financial statements in accordance with paragraphs (a) and (b) month of Clause 11.6 for the period ending on the dates referred to above in respect of which the Market Value of the Ship will be determined July or January following thereafter respectively and the Agent may, otherwise, request valuations to determine the Borrower’s compliance under Clause 15.1 (Minimum required security cover) not less than twice during each 12-month period during the Security Period.

Frequency of valuations. The Borrower Borrowers shall provide the Agent with a valuation of the each Ship, dated as of June or, as the case may be, December, on the date on which the Agent receives any financial statements in accordance with paragraphs (aClauses 11.7(a) and (b11.7(b) of Clause 11.6 for the period ending on the dates referred to above in respect of which the Market Value of the Ship will be determined and the Agent may, otherwise, may request valuations to determine the Borrower’s Borrowers’ compliance under Clause 15.1 not less than twice during each 12-month period during the Security Period.

Frequency of valuations. The Borrower shall provide acknowledges and agrees that the Agent with a valuation may commission valuation(s) of the Ship, dated as of June or, Ship at such times as the case may be, December, on Agent shall deem necessary (but in any event not less than twice per annum as long as there is no Event of Default). Notwithstanding the date on which provisions of this Agreement the first two valuations of the Ship to be obtained by the Agent receives any financial statements in accordance with paragraphs (a) and (b) of Clause 11.6 for the period ending on the dates referred order to above in respect of which determine the Market Value of the Ship will shall be determined dated 31 December 2016 and for the Agent may, otherwise, request valuations to determine the Borrower’s compliance under Clause 15.1 not less than twice during each 12-month period during remainder of the Security PeriodPeriod each set of valuations shall be dated on 31 December and 30 June, respectively, in each calendar year.

Frequency of valuations. The Borrower Borrowers shall provide the Agent with a valuation of the each Ship, dated as of June or, as the case may be, DecemberDecember of each calendar year during the Security Period, on within the date on which the Agent receives any financial statements in accordance with paragraphs (a) and (b) month of Clause 11.6 for the period ending on the dates referred to above in respect of which the Market Value of the Ship will be determined July or January following thereafter respectively and the Agent may, otherwise, request valuations to determine the Borrower’s Borrowers’ compliance under Clause 15.1 not less than twice during each 12-month period during the Security Period.