Valuation of Ship. (a) The Market Value of a Ship for the purpose of determination of the Initial Market Value of that Ship, is that shown by taking the arithmetic mean of two valuations issued by two Approved Brokers, one selected and appointed by the Agent and one selected and appointed by the Borrower (unless the Borrower does not select and appoint an Approved Broker within 14 days after the Agent’s request, in which case the Agent shall select and appoint both Approved Brokers).
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Samples: Loan Agreement (Capital Product Partners L.P.), Loan Agreement (Capital Product Partners L.P.), Loan Agreement (Capital Product Partners L.P.)
Valuation of Ship. (a) The Market Value of a the Ship for the purpose of determination of the Initial Market Value of that Ship, or any other vessel at any date is that shown by taking the arithmetic mean of two valuations a valuation issued by two an Approved Brokers, one Broker selected and appointed by the Agent and one selected and appointed by the Borrower (unless the Borrower does not select and appoint an Approved Broker within 14 days after the Agent’s request, in which case the Agent shall select and appoint both Approved Brokers).Provided that:
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Samples: Loan Agreement (EuroDry Ltd.)
Valuation of Ship. (a) The Market Value of a Ship for the purpose of determination of the Initial Market Value of that the Ship, is that shown by taking the arithmetic mean of two valuations one valuation issued by two an Approved BrokersBroker, one selected and appointed by the Agent and one selected and appointed by the Borrower (unless the Borrower does not select and appoint an Approved Broker within 14 days after the Agent’s request, in which case the Agent shall select and appoint both Approved Brokers).
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Valuation of Ship. (a) The Market Value of a Ship for the purpose of determination of the Initial Market Value of that the Ship, is that shown by taking the arithmetic mean of two valuations issued by two Approved Brokers, one selected and appointed by the Agent and one selected and appointed by the Borrower (unless the Borrower does not select and appoint an Approved Broker within 14 days after the Agent’s request, in which case the Agent shall select and appoint both Approved Brokers).
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