Valuation of a Ship Sample Clauses

Valuation of a Ship. The Market Value of a Ship at any date is that shown by a valuation prepared:
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Valuation of a Ship. Each Ship shall, for the purposes of this clause 8.2, be valued in Dollars on 31 December 2009 and thereafter on a quarterly basis on each Financial Quarter Day, or following a Default at any time determined by the Agent. The value of a Ship shall be calculated by taking the average of the charter free valuations for such Ship from two (2) Approved Brokers (such valuations to be made without, unless required by the Agent, physical inspection and on the basis of a sale for prompt delivery for cash at arm’s length on normal commercial terms as between a willing buyer and a willing seller without taking into account the benefit of any charterparty or other contract of employment concerning such Ship). Such valuation shall constitute the value of a Ship for the purposes of this clause 8.2 until the next following valuation. The value of a Ship determined in accordance with the provisions of this clause 8.2 shall be binding upon the parties hereto until such time as any further such valuations shall be obtained.
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Valuation of a Ship. A Ship shall, for the purposes of this clause 8.2, be valued in Dollars two (2) weeks prior to the Delivery Date for such Ship and thereafter on a semi-annual basis or if earlier the date upon which the Initial Ships are valued or would have been valued and thereafter all the Ships then financed by this Agreement shall be valued semi-annually or following a Default at any time determined by the Agent. The value of a Ship shall be calculated by taking the average of the valuations for such Ship from two (2) independent firms of internationally recognised shipbrokers appointed by the Agent (such valuations to be made without, unless required by the Agent, physical inspection and on the basis of a sale for prompt delivery for cash at arm’s length on normal commercial terms as between a willing buyer and a willing seller without taking into account the benefit of any charterparty or other contract of employment concerning such Ship). Such valuation shall constitute the value of a Ship for the purposes of this clause 8.2 until the next following valuation. The value of a Ship determined in accordance with the provisions of this clause 8.2 shall be binding upon the parties hereto until such time as any further such valuations shall be obtained.
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Valuation of a Ship. A Ship shall, for the purposes of this Agreement, be valued in Dollars by taking the valuation prepared by an Approved Broker selected by the Borrowers and addressed to the Agent, such valuation to be made without physical inspection, and on the basis of a sale for prompt delivery for cash at arms’ length, on normal commercial terms, as between a willing buyer and a willing seller without taking into account the benefit or burden of any charterparty or other engagement concerning such Ship and shall be no older than 30 days as at any relevant date. Valuations shall be obtained:
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Valuation of a Ship. The Market Value of a Ship:
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Valuation of a Ship. The Market Value of a Ship: to be determined for the purposes of Clause 4.2(b) and paragraph 5 of Schedule 3, Part B, is that shown by taking the arithmetic average of two valuations, one of which to be nominated by the Borrowers and appointed by the Agent and the other nominated and appointed by the Agent; and at any other date is that shown in a valuation (each a “First Valuation”) addressed to the Agent to be issued by an Approved Broker, nominated and appointed by the Borrowers unless the Agent obtains a second valuation (each a “Second Valuation”) to be issued by an Approved Broker nominated and appointed by the Agent in which case the Market Value of that Ship at the relevant date is that shown:
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Valuation of a Ship not subject to a long-term charter. The Market Value of a Ship which at the relevant time is not subject to a charter or other contract of employment having an unexpired term of at least 12 months with a first class charterer acceptable to the Lenders (in their absolute discretion) is that shown by taking the average of two valuations prepared:
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Valuation of a Ship. Subject to the following provisions of this Clause 15.4, the Market Value of a Ship shall be determined:
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Valuation of a Ship. A Ship shall, for the purposes of this clause 8.2, be valued in Dollars (i) in relation to an Inital Ship, at the time of acceptance of a commitment letter between the Agent and the Borrower or (ii) in relation to an Additional Ship, two (2) weeks prior to the Delivery Date for such Additional Ship, and thereafter on a semi-annual basis or if earlier the date upon which the Initial Ships are valued or would have been valued and thereafter all the Ships then financed by this Agreement shall be valued semi-annually or following a Default at any time determined by the Agent. The value of a Ship shall be calculated by taking the average of the charterfree evaluations for such Ship from two (2) Approved Brokers appointed by the Agent (one chosen by the Agent and one chosen by the Borrower) (such valuations to be made without, unless required by the Agent, physical inspection and on the basis of a sale for prompt delivery for cash at arm’s length on normal commercial terms as between a willing buyer and a willing seller without taking into account the benefit of any charterparty or other contract of employment concerning such Ship). Such valuation shall constitute the value of a Ship for the purposes of this clause 8.2 until the next following valuation. The value of a Ship determined in accordance with the provisions of this clause 8.2 shall be binding upon the parties hereto until such time as any further such valuations shall be obtained.
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Related to Valuation of a Ship

  • VALUATION OF ASSETS (a) Except as may be required by the 1940 Act, the Board of Managers shall value or have valued any Securities or other assets and liabilities of the Fund as of the close of business on the last day of each Fiscal Period in accordance with such valuation procedures as shall be established from time to time by the Board of Managers and which conform to the requirements of the 1940 Act. In determining the value of the assets of the Fund, no value shall be placed on the goodwill or name of the Fund, or the office records, files, statistical data or any similar intangible assets of the Fund not normally reflected in the Fund's accounting records, but there shall be taken into consideration any items of income earned but not received, expenses incurred but not yet paid, liabilities, fixed or contingent, and any other prepaid expenses to the extent not otherwise reflected in the books of account, and the value of options or commitments to purchase or sell Securities or commodities pursuant to agreements entered into prior to such valuation date.

  • Valuation of additional security For the purpose of this clause 8.2, the market value of any additional security provided or to be provided to the Bank shall be determined by the Bank in its absolute discretion without any necessity for the Bank assigning any reason thereto.

  • Valuation of Property (i) Should the purchase price specified in the Transfer Notice be payable in property other than cash or evidences of indebtedness, the Holders shall have the right to pay the purchase price in the form of cash equal in amount to the fair market value of such property.

  • Value of additional vessel security The net realisable value of any additional security which is provided under Clause 15.2 and which consists of a Security Interest over a vessel shall be that shown by a valuation complying with the requirements of Clause 15.3.

  • Location of Assets Neither any Obligor nor any Specified Entity carries on business, has an office or owns any properties or assets located, outside of the Permitted Jurisdictions.

  • Determination of Amount In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase Option is exercisable (and in lieu of being entitled to receive Common Stock and Warrants) in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised portion of this Purchase Option into Units ("Conversion Right") as follows: upon exercise of the Conversion Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number of shares of Common Stock and Warrants comprising that number of Units equal to the quotient obtained by dividing (x) the "Value" (as defined below) of the portion of the Purchase Option being converted by (y) the Current Market Value (as defined below). The "Value" of the portion of the Purchase Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units underlying the portion of this Purchase Option being converted from (b) the Current Market Value of a Unit multiplied by the number of Units underlying the portion of the Purchase Option being converted. As used herein, the term "Current Market Value" per Unit at any date means the remainder derived from subtracting (x) the exercise price of the Warrants multiplied by the number of shares of Common Stock issuable upon exercise of the Warrants underlying one Unit from (y) the Current Market Price of the Common Stock multiplied by the number of shares of Common Stock underlying the Warrants and the Common Stock issuable upon exercise of one Unit. The "Current Market Price" of a share of Common Stock shall mean (i) if the Common Stock is listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), the last sale price of the Common Stock in the principal trading market for the Common Stock as reported by the exchange, Nasdaq or the NASD, as the case may be; (ii) if the Common Stock is not listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or the NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), but is traded in the residual over-the-counter market, the closing bid price for the Common Stock on the last trading day preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the fair market value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the Company shall determine, in good faith.

  • Condition of Assets 4 2.10 TITLE TO AND ENCUMBRANCES ON PROPERTY . . . . . . . . . . . . . . . . . . 4 2.11 INVENTORIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2.12 INTELLECTUAL PROPERTY RIGHTS; NAMES . . . . . . . . . . . . . . . . . . . 4 2.13

  • Determination of Amounts Whenever a Priority Debt Representative shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any First-Out Obligations (or the existence of any commitment to extend credit that would constitute First-Out Obligations), or Second-Out Obligations, or the existence of any Lien securing any such obligations, or the Shared Collateral subject to any such Lien, it may request that such information be furnished to it in writing by the other Priority Debt Representative and shall be entitled to make such determination on the basis of the information so furnished; provided, however, that if a Priority Debt Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Priority Debt Representative shall be entitled to make any such determination by such method as it may, in the exercise of its good faith judgment, determine, including by reliance upon a certificate of the Borrower. Each Priority Debt Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to the Borrower or any of their subsidiaries, any Priority Secured Party or any other Person as a result of such determination.

  • Valuation The Subscriber acknowledges that the price of the Securities was set by the Company on the basis of the Company’s internal valuation and no warranties are made as to value. The Subscriber further acknowledges that future offerings of Securities may be made at lower valuations, with the result that the Subscriber’s investment will bear a lower valuation.

  • Presumption of Assent A director of the Corporation who is present at a meeting of its Board of Directors at which action on any corporate matter is taken shall be presumed to have assented to the action taken unless he votes against such action or abstains from voting in respect thereto because of an asserted conflict of interest.

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