Valuation of Ship. The market value of a Ship at any date is that shown by: a. the arithmetic average of 2 valuations each prepared by an Approved Broker selected by the Agent acting upon the instructions of all the Lenders; b. as at a date not more than 14 days prior to the date such valuation is delivered to the Agent by such Approved Broker;
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Valuation of Ship. The market value Market Value of a Ship (or any other Fleet Vessel), at any date is that shown byby one valuation to be prepared:
a. the arithmetic average of 2 valuations each prepared by an Approved Broker selected by the Agent acting upon the instructions of all the Lenders; b. (a) as at a date not more than 14 30 days prior to previously;
(b) by an Approved Broker appointed by the date such valuation is delivered to Agent;
(c) with or without physical inspection of the Ship (as the Agent by such Approved Broker;may require); and
(d) 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.
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Samples: Amending and Restating Agreement (Paragon Shipping Inc.)
Valuation of Ship. The market value of a Ship at any date is that shown by:
a. (i) in a valuation or (ii) (at the arithmetic Agent’s request acting in its sole discretion) by taking the average of 2 valuations valuations, in each prepared by an Approved Broker selected by the Agent acting upon the instructions of all the Lenders; b. as at a date not more than 14 days prior to the date such valuation is delivered to the Agent by such Approved Broker;case prepared:
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Valuation of Ship. The market value Market Value of a Ship at any date is that shown byby a valuation prepared:
a. the arithmetic average of 2 valuations each prepared by an Approved Broker selected by the Agent acting upon the instructions of all the Lenders; b. (a) as at a date not more than 14 30 days prior to previously;
(b) by an Approved Broker appointed by the date such valuation is delivered to Lender;
(c) in Dollars;
(d) with or without physical inspection of that Ship (as the Agent by such Approved Broker;Lender may require); and
(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.
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Samples: Loan Agreement (EuroDry Ltd.)