Common use of Valuation of Ship Clause in Contracts

Valuation of Ship. The Ship shall at the discretion of the Bank from time to time, for the purposes of this clause 9.2, be valued in Dollars by an independent firm of shipbrokers appointed by the Bank in its sole discretion (each such valuation to be made without, unless required by the Bank, 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 of any charterparty or other engagement concerning the Ship). Such valuation shall constitute the value of the Ship for the purposes of this clause 9.2. The value of the Ship determined in accordance with the provisions of this clause 9.2 shall be binding upon the parties hereto until such time as any further such valuations shall be obtained.

Valuation of Ship. The Ship shall at the discretion of the Bank from time to time, for the purposes of this clause 9.2, be valued in Dollars by an independent firm of shipbrokers appointed by the Bank in its sole discretion (each such valuation to be made without, unless required by the Bank, 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 of any charterparty charter party or other engagement concerning the Ship). Such valuation shall constitute the value of the Ship for the purposes of this clause 9.2. The value of the Ship determined in accordance with the provisions of this clause 9.2 shall be binding upon the parties hereto until such time as any further such valuations shall be obtainedobtained .

Valuation of Ship. The Ship shall at the discretion of the Bank from time to timeshall, for the purposes of this clause 9.28.3, be valued as and when the Bank shall in Dollars its absolute discretion require, by an independent firm of shipbrokers appointed by the Bank in its sole discretion (each discretion. Each such valuation to shall be made without, unless required by the Bank, physical inspection and on the basis of a sale for prompt delivery delivery, for cash at arms length 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 charter-party or other engagement concerning the Ship). Such valuation shall constitute the value of the Ship for the purposes of this clause 9.28.3. The value of the Ship determined in accordance with the provisions of this clause 9.2 8.3 shall be binding upon the parties hereto until such time as any such further such valuations shall be obtained.