Common use of Number of valuers Clause in Contracts

Number of valuers. Each valuation must be carried out by two approved valuers each of whom shall be nominated by the Borrower. If the Borrower fails promptly to nominate either or both valuers then the Agent may (acting on the instructions of the Majority Lenders) nominate either or both valuers (as applicable).

Number of valuers. Each valuation must be carried out by two approved valuers each (2) Approved Brokers both of whom shall be nominated by the BorrowerBorrowers. If the Borrower fails Borrowers fail promptly to nominate either or both valuers an Approved Broker then the Agent may (acting on the instructions of the Majority Lenders) nominate either or both valuers (as applicable)that valuer.