Common use of Timberland Valuations and Updates Clause in Contracts

Timberland Valuations and Updates. The Borrowers will obtain, at their expense, and deliver to the Administrative Agent (i) on or before January 31, 2015 and January 31, 2017, a Timberland Valuation Update from the Timberland Valuation Consultant as of December 31st of the prior calendar year, (ii) on or before January 31st of each year during the term of this Agreement (beginning with January 31, 2014), a Timberland Inventory Update prepared by the Borrowers as of December 31st of the prior calendar year and (iii) on or before the last day of each of January, April, July and October, a report or reports prepared by the Borrowers and in form and substance satisfactory to the Administrative Agent, of harvesting, acquisitions and divestitures of Timberlands as of the last day of the immediately preceding calendar quarter and reflecting the changes to the Timberlands since the most recently delivered Opening Timberland Valuation or Timberland Valuation Update, as applicable. The Borrowers and their Subsidiaries will promptly provide the Timberland Valuation Consultant with any information reasonably necessary or requested by such Timberland Valuation Consultant to complete or perform any Timberland Valuation Update.

Timberland Valuations and Updates. The Borrowers will obtain, at their expense, and deliver to the Administrative Agent (i) on or before January March 31, 2015 and January 31, 2017on or before March 31 of each subsequent year, a Timberland Valuation Update from the Timberland Valuation Consultant as of December 31st of the prior calendar yearDecember 31, (ii) on or before January 31st 31 of each year during the term of this Agreement (beginning with January 31, 20142015), a Timberland Inventory Update prepared by the Borrowers as of December 31st of the prior calendar year and (iii) on or before the last day of each of January, April, July and October, a report or reports prepared by the Borrowers and in form and substance satisfactory to the Administrative Agent, of harvesting, acquisitions and divestitures of Timberlands as of the last day of the immediately preceding calendar quarter and reflecting the changes to the Timberlands since the most recently delivered Opening Timberland Valuation or Timberland Valuation Update, as applicable. The Borrowers and their Subsidiaries will promptly provide the Timberland Valuation Consultant with any information reasonably necessary or requested by such Timberland Valuation Consultant to complete or perform any Timberland Valuation Update.