Common use of Frequency of valuations Clause in Contracts

Frequency of valuations. (i) The Borrower shall provide the valuations of each Ship required pursuant to paragraph 4 of Part B of Schedule 4 at the Borrower's expense; (j) the Agent shall be entitled to obtain 2 valuations during each half of each Fiscal Year of the Borrower commencing on 1 January 2016 (such valuations to be attached to the Compliance Certificates for the relevant fiscal quarter to be provided by the Borrower) setting forth the Fair Market Value of each Ship in each case at the cost of the Borrower save that the Borrower shall not be required to pay for more than 2 sets of valuations of each Ship in each calendar year unless an Event of Default has occurred or any valuation obtained would entitle the Agent to serve a notice pursuant to Clause 15.1 in which case such valuations required by the Agent shall be for the cost of the Borrower; and (k) the Agent shall be entitled, at its own expense, to obtain valuations of each Ship other than those referred to in paragraphs (a) and (b) above as often as it may request.

Frequency of valuations. (ia) The Borrower shall provide the valuations of each Ship required pursuant to paragraph 4 5 of Part B of Schedule 4 at the Borrower's ’s expense; (jb) the Agent shall be entitled to obtain 2 valuations during each half of each Fiscal Year of the Borrower commencing on 1 January 2016 30 June 2015 (such valuations to be attached to the Compliance Certificates for the relevant fiscal quarter to be provided by the Borrower) setting forth the Fair Market Value of each Ship in each case at the cost of the Borrower save that the Borrower shall not be required to pay for more than 2 sets of valuations of each Ship in each calendar year unless an Event of Default has occurred or any valuation obtained would entitle the Agent to serve a notice pursuant to Clause 15.1 in which case such valuations required by the Agent shall be for the cost of the Borrower; and (kc) the Agent shall be entitled, at its own expense, to obtain valuations of each Ship other than those referred to in paragraphs (a) and (b) above as often as it may request.

Frequency of valuations. (i) a. The Borrower Borrowers shall provide the valuations of each Ship required pursuant to paragraph 4 of Part B of Schedule 4 at the Borrower's Borrowers' expense; (j) b. the Agent shall be entitled to obtain 2 valuations per Ship during each half of each Fiscal Year of the Borrower Guarantor commencing with valuation to be provided on 1 January 2016 30 June 2018 (such valuations to be attached to the Compliance Certificates for the relevant fiscal quarter to be provided by the BorrowerGuarantor) setting forth the Fair Market Value of each Ship in each case at the cost of the Borrower Borrowers save that the Borrower Borrowers shall not be required to pay for more than 2 sets of valuations of each per Ship in each calendar year unless an Event of Default has occurred or any valuation obtained would entitle the Agent to serve a notice pursuant to Clause 15.1 in which case such valuations required by the Agent shall be for the cost of the BorrowerBorrowers; and (k) c. the Agent shall be entitled, at its own expense, to obtain valuations of each Ship other than those referred to in paragraphs (a) and (b) above as often as it may request.

Frequency of valuations. (ia) The Borrower Borrowers shall provide the valuations of each Ship required pursuant to paragraph 4 of Part B of Schedule 4 at the Borrower's Borrowers' expense; (jb) the Agent shall be entitled to obtain 2 valuations per Ship during each half of each Fiscal Year of the Borrower Guarantor commencing on 1 January 31 December 2016 (such valuations to be attached to the Compliance Certificates for the relevant fiscal quarter to be provided by the BorrowerGuarantor) setting forth the Fair Market Value of each Ship in each case at the cost of the Borrower Borrowers save that the Borrower Borrowers shall not be required to pay for more than 2 sets of valuations of each per Ship in each calendar year unless an Event of Default has occurred or any valuation obtained would entitle the Agent to serve a notice pursuant to Clause 15.1 in which case such valuations required by the Agent shall be for the cost of the BorrowerBorrowers; and (kc) the Agent shall be entitled, at its own expense, to obtain valuations of each Ship other than those referred to in paragraphs (a) and (b) above as often as it may request.