Common use of Valuation of Ship Clause in Contracts

Valuation of Ship. The market value of a Ship at any date is that shown by valuation of that Ship prepared: (a) as at a date not more than 15 days previously; (b) addressed to the Agent; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the Ship (as the Agent may require); (e) on the basis of a sale for prompt delivery for cash on normal arm’s length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and (f) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value Market Value of a the Ship (or any other Fleet Vessel) at any date is that shown by taking the arithmetic mean of two valuations, each valuation of that Ship to be prepared: (a) as at a date not more than 15 30 days previously; (b) addressed to the Agentby an Approved Broker; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the Ship (as the Agent Lender may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value of a the Ship at any date is that shown by a valuation of that Ship prepared: (a) as at a date not more than 15 14 days previously; (b) addressed by an independent sale and purchase shipbroker speciliasing in the LNG sector from the list of shipbrokers referred to the Agentin Schedule 5; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the Ship (as the Agent may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and; (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value of a Mortgaged Ship at any date is that shown by a valuation of that Ship prepared: (a) as at a date not more than 15 14 days previously; (b) addressed to by an independent sale and purchase shipbroker which the AgentLender has approved or appointed for the purpose; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the that Ship (as the Agent Lender may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value of a the Ship at any date is that shown by a valuation of that Ship prepared: (a) as at a date not more than 15 14 days previously; (b) addressed to by an Approved Broker which the AgentAgent has approved or appointed for the purpose; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the Ship (as the Agent may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s length commercial terms as between a willing seller and a willing buyer, free of any existing mortgage, charter or other contract of employment; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value of a Ship at any date is that shown by valuation of that Ship prepared: (a) as at a date not more than 15 days previously; (b) addressed to the Agent; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (dc) with or without physical inspection of the Ship (as the Agent may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s 's length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value Market Value of a the Ship at any date is that shown by the valuation of that Ship prepared: (a) as at a date not more than 15 14 days previously; (b) addressed to by one independent sale and purchase shipbroker which the AgentLender has approved or appointed for the purpose; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the Ship (as the Agent Lender may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s 's length commercial terms as between a willing seller and a willing buyer, buyer free of any existing charter or any other contract of employmentemployment in respect of the Ship; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value Market Value of a Ship (or any other Fleet Vessel) at any date is that shown by the average of two valuations, each valuation of that Ship to be prepared: (a) as at a date not more than 15 14 days previously; (b) addressed to the Agentby an Approved Broker; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the relevant Ship (as the Agent Lender may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s 's length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value Market Value of a Ship at any date is that shown by the valuation of that Ship prepared: (a) as at a date not more than 15 14 days previously; (b) addressed to by one independent sale and purchase shipbroker which the AgentLender has approved or appointed for the purpose; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the that Ship (as the Agent Lender may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s 's length commercial terms as between a willing seller and a willing buyer, buyer free of any existing charter or any other contract of employmentemployment in respect of that Ship; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value of a Ship at any date is that shown by valuation of that Ship preparedby: (a) the average of 2 valuations each prepared by an Approved Broker selected by the Agent; (b) as at a date not more than 15 14 days previously; (b) addressed prior to the Agentdate such valuation is delivered to the Agent by such Approved Broker; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the that Ship (as the Agent may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value of a the Ship at any date is that shown by a valuation of that Ship prepared: (a) as at a date not more than 15 14 days previously; (b) addressed to by an independent sale and purchase shipbroker which the AgentLender has approved or appointed for the purpose; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the Ship (as the Agent Lender may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s 's length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value Market Value of a the Ship (or any other Fleet Vessel) at any date is that shown by taking the arithmetic mean of two valuations, each valuation of that Ship to be prepared: (a) as at a date not more than 15 30 days previously; (b) addressed to the Agentby an Approved Broker; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the Ship (as the Agent Lender may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s 's length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value of a Ship at any date is that shown by valuation of that Ship prepared: (a) as at a date not more than 15 days previously; (b) addressed to the Agent; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (dc) with or without physical inspection of the Ship (as the Agent may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ship. The market value of a the Ship at any date is that shown by taking a valuation of that Ship prepared: (a) as at a date not more than 15 14 days previously; (b) addressed to by an independent sale and purchase shipbroker appointed, or approved, by the AgentLender; (c) by an independent ship sale and purchase broker appointed or approved by the Agent; (d) with or without physical inspection of the Ship (as the Agent Lender may require); (ed) on the basis of a sale for prompt delivery for cash on normal arm’s length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and (fe) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.