Common use of Provide Valuation Clause in Contracts

Provide Valuation. The Borrower shall at its own cost, when requested by the Lender and in any event upon any renewal or extension of the Loan, including an extension under clauses 5.3 and 5.4 hereof, provide to the Lender a current valuation of the Property addressed to the Lender, undertaken by a registered valuer previously approved by the Lender. If the Borrower fails to comply with this clause then the Lender shall be entitled to instruct registered valuers to carry out such valuations as it requires. The Borrower shall also provide to the Lender on request a current valuation of the Collateral undertaken by a valuer, the valuation to be carried out to the Lender's entire satisfaction. All costs and disbursements incurred by the Lender, either directly or indirectly, in obtaining any valuations required by the Lender under the terms of this Agreement shall be paid by the Borrower promptly on request by the Lender and until payment shall form part of the Moneys Owed.

Provide Valuation. The Borrower shall at its own cost, when requested by the Lender and in any event upon any renewal or extension of the Loan, including an extension under clauses clause 5.3 and 5.4 hereof, provide to the Lender a current valuation of the Property addressed to the Lender, undertaken by a registered valuer previously approved by the Lender. If the Borrower fails to comply with this clause then the Lender shall be entitled to instruct registered valuers to carry out such valuations as it requires. The Borrower shall also provide to the Lender on request a current valuation of the Collateral undertaken by a valuer, the valuation to be carried out to the Lender's entire satisfaction. All costs and disbursements incurred by the Lender, either directly or indirectly, in obtaining any valuations required by the Lender under the terms of this Agreement shall be paid by the Borrower promptly on request by the Lender and until payment shall form part of the Moneys Owed.