Common use of Valuation of Ships Clause in Contracts

Valuation of Ships. The market value of a Ship at any date is that shown by the arithmetic average of two valuations, each prepared: (a) as at a date not more than 14 days previously; (b) by an independent sale and purchase shipbroker which the Lender has approved or appointed for the purpose; (c) with or without physical inspection of the Ship (as the Lender may require); (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; and (e) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ships. The market value Market Value of a Ship (or any other Fleet Vessel) at any date is that shown by taking the arithmetic average means of two valuations, each valuation to be prepared: (a) as at a date not more than 14 30 days previously; (b) by an independent sale and purchase shipbroker which the Lender has approved or appointed for the purposeApproved Broker; (c) with or without physical inspection of the Ship (as the Lender Agent may require); (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; and (e) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.

Valuation of Ships. The market value of a Ship at any date is that shown by the arithmetic average of two valuations, each valuations prepared: (a) as at a date not more than 14 days previously; (b) by an independent sale 2 Approved Brokers, one appointed by the Borrower and purchase shipbroker which the Lender has approved or appointed for other by the purposeFacility Agent; (c) with or without physical inspection of the relevant Ship (as the Lender Facility Agent may require); (d) 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 (e) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.,

Valuation of Ships. The market value of a Ship at any date is that shown by the arithmetic average of two valuations, 2 valuations each prepared: (a) as at a date not more than 14 days previously; (b) by an independent sale and purchase shipbroker which the Lender has approved or appointed for the purpose; (c) with or without physical inspection of the Ship (as the Lender may require); (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; and; (e) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.