Real Property Appraisals Sample Clauses

Real Property Appraisals. If the Collateral Agent or the Required Lenders determine that there is a Requirement of Law for them to have appraisals prepared in respect of the Real Property of the Company constituting Collateral, the Company shall provide to the Collateral Agent appraisals which satisfy the applicable requirements set forth in 12 C.F.R., Part 34 - Subpart C or any successor or similar statute, rule, regulation, guideline or order, and which shall be in scope, form and substance, and from appraisers, reasonably satisfactory to the Required Lenders and shall be accompanied by a certification of the appraisal firm providing such appraisals that the appraisals comply with such requirements.
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Real Property Appraisals. If the Collateral Agent reasonably determines that it or any of the Finance Parties are required by Law or regulation to have appraisals prepared in respect of the owned Real Property of any Group Company constituting Collateral, appraisals shall be obtained in satisfaction of the applicable requirements set forth in 12 C.F.R., Part 34 — Subpart C or any successor or similar statute, rule, regulation, guideline or order, and which shall be in scope, form and substance compliant with such requirements.
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Real Property Appraisals. Bank shall have obtained, at Borrower’s cost, an appraisal of all real property collateral required hereby, and all improvements thereon, issued by an appraiser acceptable to Bank and in form, substance and reflecting values satisfactory to Bank, in its discretion.
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Real Property Appraisals. Appraisals of the Real Property, at Borrower's expense, showing a value satisfactory to Lender in its sole and absolute discretion.
Sample 1
Real Property Appraisals. The Borrower shall engage Hilco Appraisal Services, LLC or another nationally recognized appraisal company reasonably acceptable to the Administrative Agent to conduct an annual appraisal of the Real Property to take place in the month of November of each Fiscal Period and deliver a report on the value of each parcel of Real Property (the "REAL PROPERTY APPRAISAL REPORT"). Based on evaluation of the Real Property Appraisal Report, the Administrative Agent shall determine whether a Real Property Appraisal Shortfall exists, and shall so notify the Borrower in writing (a "REAL PROPERTY APPRAISAL SHORTFALL NOTICE"). If the Real Property Appraisal Shortfall identified by reference to the applicable Real Property Appraisal Report represents a decrease in value of the Real Property of more than thirty percent (30%) over the most recent Real Property Appraisal Report delivered to the Administrative Agent, the Borrower may, within twenty (20) Business Days after delivery of the Real Property Appraisal Shortfall Notice, establish either that a Real Property Appraisal Shortfall does not exist or that the aggregate amount of the Real Property Appraisal Shortfall is less than that set forth in the Real Property Appraisal Shortfall Notice, and shall notify the Administrative Agent in writing of the same (a "REAL PROPERTY APPRAISAL SHORTFALL RESPONSE"). Administrative Agent shall consider any such Real Property Appraisal Shortfall Response by the Borrower in good faith, and shall notify the Borrower of its determination to make any adjustments to the Real Property Appraisal Shortfall amount based upon the Real Property Appraisal Shortfall Response. The Borrower's failure to deliver a Real Property Appraisal Shortfall Response within the time frame set forth above shall be deemed acceptance by the Borrower of the Real Property Appraisal Shortfall set forth in the Real Property Appraisal Shortfall Notice.
Sample 1
Real Property Appraisals. Upon any Agent’s request from time to time, the Credit Parties shall permit and enable such Agent to obtain appraisals in form and substance (excluding value) and from appraisers reasonably satisfactory to such Agent stating the fair market value of any Real Property of any Credit Party or any Subsidiary of any Credit Party, including any appraisal required to comply with FIRREA; provided, that notwithstanding any provision herein to the contrary, in addition to any appraisals required pursuant to Section 6.10, the Credit Parties shall only be obligated to reimburse the Agents for the expenses of one such appraisal during any period of 12 months following the Closing Date and two such appraisals during the period from the Closing Date through the Maturity Date so long as, in each case, an Event of Default is not continuing.
Sample 1
Real Property Appraisals. If either Collateral Agent or the Required Lenders determine that they are required by Law or regulation to have appraisals prepared in respect of the Real Property of any Group Company constituting Collateral, the Parent Borrower shall (at the expense of the Parent Borrower) provide to the Collateral Agents appraisals which satisfy the applicable requirements set forth in 12 C.F.R., Part 34 - Subpart C or any successor or similar statute, rule, regulation, guideline or order, and which shall be in scope, form and substance, and from appraisers, reasonably satisfactory to the Administrative Agents and shall be accompanied by a certification of the appraisal firm providing such appraisals that the appraisals comply with such requirements.
Sample 1
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Real Property Appraisals. Prior to February 28 in each year and at any other time at the Borrower's option, the Borrower will (i) cause the fair market value of the equity of the Borrower and its Subsidiaries in all interests in Real Property as of the December 31 next preceding such February 28 or, in the case of an optional appraisal, a date not more than 60 days preceding the date of such appraisal (the "as of" date for any such appraisal, the "Valuation Date"), to be appraised by the Appraiser in conformity with and subject to the Code of Ethics and Standards of Professional Conduct of the Appraisal Institute, (ii) calculate as of such Valuation Date the value of Gross Assets, (iii) cause the Appraiser to review such calculation of Gross Assets and (iv) cause to be filed with each Bank a report from the Appraiser containing the Appraiser's opinion on the value of Gross Assets as of such Valuation Date and its opinion on the reasonableness of the Borrower's calculation of the value of Gross Assets as of such Valuation Date and stating that the appraisal referred to in clause (i) above was made in conformity with and subject to the Code of Ethics and Standards of Professional Conduct of the Appraisal Institute.
Sample 1

Related to Real Property Appraisals

  • Real Estate Appraisals Company shall, and shall cause each of its Subsidiaries to, permit an independent real estate appraiser reasonably satisfactory to Administrative Agent, upon reasonable notice, to visit and inspect any Additional Mortgaged Property for the purpose of preparing an appraisal of such Additional Mortgaged Property satisfying the requirements of any applicable laws and regulations (in each case to the extent required under such laws and regulations as determined by Administrative Agent in its discretion).

  • Appraisals An appraisal of the related Mortgaged Property was conducted in connection with the origination of the Mortgage Loan, which appraisal is signed by an appraiser, who, to the Mortgage Loan Seller's knowledge, had no interest, direct or indirect, in the Mortgaged Property or the Borrower or in any loan made on the security thereof, and whose compensation is not affected by the approval or disapproval of the Mortgage Loan; in connection with the origination of the Mortgage Loan, each appraiser has represented in such appraisal or in a supplemental letter that the appraisal satisfies the requirements of the "Uniform Standards of Professional Appraisal Practice" as adopted by the Appraisal Standards Board of the Appraisal Foundation.

  • Real Property Matters The Company does not own any real property as of the date hereof and has not owned any real property during the three years preceding the date hereof.

  • Updated Appraisals For so long as the Loan remains outstanding, if any Event of Default shall occur hereunder, or if, in Lender’s judgment, a material depreciation in the value of the Land and/or the Improvements shall have occurred, then in any such event, Lender, may cause the Land and Improvements to be appraised by an appraiser selected by Lender, and in accordance with Lender’s appraisal guidelines and procedures then in effect, and Borrower agrees to cooperate in all respects with such appraisals and furnish to the appraisers all requested information regarding the Land and Improvements and the Facility. Borrower agrees to pay all reasonable costs incurred by Lender in connection with such appraisal which costs shall be secured by the Mortgage and shall accrue interest at the Default Rate until paid.

  • Real Property; Fixtures Each Grantor covenants and agrees that upon the acquisition of any fee interest in Real Property having a fair market value in excess of $1,000,000 it will promptly (and in any event within two (2) Business Days of acquisition) notify Agent of the acquisition of such Real Property and will grant to Agent, for the benefit of the Lender Group and the Bank Product Providers, a first priority Mortgage on each fee interest in Real Property now or hereafter owned by such Grantor and shall deliver such other documentation and opinions, in form and substance satisfactory to Agent, in connection with the grant of such Mortgage as Agent shall request in its Permitted Discretion, including title insurance policies, financing statements, fixture filings and environmental audits and such Grantor shall pay all recording costs, intangible taxes and other fees and costs (including reasonable attorneys fees and expenses) incurred in connection therewith. Each Grantor acknowledges and agrees that, to the extent permitted by applicable law, all of the Collateral shall remain personal property regardless of the manner of its attachment or affixation to real property;

  • Real Properties The Company does not have an interest in any real property, except for the Leases (as defined below).

  • Real Property; Assets (a) Neither the Company nor any of its Subsidiaries owns any real property.

  • Inspections and Appraisals At all times during normal business hours, Laurus, and/or any agent of Laurus shall have the right to (a) have access to, visit, inspect, review, evaluate and make physical verification and appraisals of each Company’s properties and the Collateral, (b) inspect, audit and copy (or take originals if necessary) and make extracts from each Company’s Books and Records, including management letters prepared by the Accountants, and (c) discuss with each Company’s directors, principal officers, and independent accountants, each Company’s business, assets, liabilities, financial condition, results of operations and business prospects. Each Company will deliver to Laurus any instrument necessary for Laurus to obtain records from any service bureau maintaining records for such Company. If any internally prepared financial information, including that required under this Section is unsatisfactory in any manner to Laurus, Laurus may request that the Accountants review the same.

  • Leased Real Property Section 3.13(b) of the Company Disclosure Letter contains a true, correct and complete list of (i) all of the real property that is leased, subleased, licensed or otherwise used or occupied by, the Company or any of its Subsidiaries (such property, the “Leased Real Property”) and (ii) all leases, subleases, licenses or other Contracts pursuant to which the Company or its Subsidiaries use or occupy, or have the right to use or occupy, now or in the future, such Leased Real Property (each, a “Lease”). The Company has made available to Parent true, correct and complete copies of all Leases (including all material modifications, amendments and supplements thereto), and in the case of any oral Lease, a written summary of the material terms of such Lease. The Company and/or one of its Subsidiaries, as the case may be, have and own good, valid and subsisting leasehold interests in the Leased Real Property under each Lease, subject to proper authorization and execution of such Lease by the other party thereto and Permitted Liens, except in each case, as enforcement may be limited by the Enforceability Limitations, except as would not, individually or in the aggregate, have a Company Material Adverse Effect. With respect to each Lease and except as would not, individually or in the aggregate, have a Company Material Adverse Effect or materially and adversely affect the current use by the Company or its Subsidiaries of the Leased Real Property, (i) each Lease is in full force and effect and a valid, binding and legally enforceable obligation of the Company or its applicable Subsidiary, as the case may be, and, to the Knowledge of the Company, the other parties thereto (except in each case as may be limited by the Enforceability Limitations); (ii) each Lease has not been amended or modified in any material respect except as reflected in the modifications, amendments, supplements and side letters thereto made available to Parent; (iii) there is no existing material default or event of default by the Company or any of its Subsidiaries or, to the Knowledge of the Company, any other party thereto, under any Lease (iii) to the Knowledge of the Company, there are no disputes with respect to any Lease; (iv) neither the Company nor any of its Subsidiaries has collaterally assigned or granted any other security interest in such Lease or any interest therein; and (v) there are no Liens (other than Permitted Liens) on the estate or interest created by such Lease. The Leased Real Property is in all material respects in good operating condition and in a state of good and working maintenance and repair, ordinary wear and tear excepted, and is adequate and suitable for its current uses and purposes. There are no physical conditions or defects on any part of the Leased Real Property that would materially impair or would be reasonably expected to materially impair the continued operation of the business of the Company and its Subsidiaries as presently conducted at such Leased Real Property.

  • Mortgaged Property Undamaged The Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect adversely the value of the Mortgaged Property as security for the Mortgage Loan or the use for which the premises were intended;

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