Common use of Updated Appraisal Clause in Contracts

Updated Appraisal. In the event of the occurrence of a Default or Event of Default or if at any time an appraisal of the Hotel/Casino Facility and the Real Property prepared in compliance with FIRREA is determined to be necessary by Agent Bank or Requisite Lenders, Borrowers agree to pay all reasonable fees, costs and expenses incurred by Agent Bank in connection with the engagement and preparation of such appraisal. Borrowers shall not be obligated to pay for more than one of such appraisals.

Updated Appraisal. In the event of the occurrence of a Default or Event of Default or if at any time an appraisal of the Hotel/Casino Facility and the Real Property Collateral prepared in compliance with FIRREA is determined to be necessary by Agent Bank or Requisite Lenders, Borrowers agree to pay all reasonable fees, costs and expenses incurred by Agent Bank in connection with the engagement and preparation of such appraisal. Borrowers shall not be obligated to pay for more than one of such appraisals.

Updated Appraisal. In the event of the occurrence of a Default or Event of Default or if at any time an appraisal of the Hotel/Casino Facility and the Real Property Facilities prepared in compliance with FIRREA is determined to be necessary by Agent Bank or Requisite Lenders, Borrowers agree to pay all reasonable fees, costs and expenses incurred by Agent Bank in connection with the engagement and preparation of such appraisal. Borrowers shall not be obligated to pay for more than one of such appraisals.

Updated Appraisal. In the event of the occurrence of a Default or Event of Default or if at any time an appraisal of the Hotel/Casino Facility Facilities and the Real Property Collateral Properties prepared in compliance with FIRREA is determined to be necessary by Agent Bank or Requisite Lenders, Borrowers agree to cooperate and provide all information reasonably necessary for the preparation of such appraisal and to pay all reasonable fees, costs and expenses incurred by Agent Bank in connection with the engagement and preparation of such appraisal. Borrowers shall not be obligated to pay for more than one of such appraisals.