Common use of Valuation of Ships Clause in Contracts

Valuation of Ships. The Market Value of a Ship (or any other Fleet Vessel) at any date during the Security Period is that shown by a valuation to be prepared: (a) as at a date not more than 14 days previously; (b) an Approved Broker (selected by the Borrowers and appointed by the Agent); (c) with or without physical inspection of the Ship (as the 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, if the Agent reasonably determines that the Market Value of the Ship shown by a valuation prepared in accordance with this Clause

Valuation of Ships. The Market Value of a Ship (or any other Fleet Vessel) at any date during the Security Period is that shown by a valuation to be the average of two valuations prepared: (a) as at a date not more than 14 days previously; (b) by an Approved Broker (selected by independent sale and purchase shipbroker which the Borrowers and Lender has appointed by for the Agent)purpose; (c) with or without physical inspection of the relevant Ship (as the Agent Lender 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, ; (e) free of any existing charter or other contract of employment; and (ef) after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale, if the Agent reasonably determines that the Market Value of the Ship shown by a valuation prepared in accordance with this Clause.

Valuation of Ships. The Market Value of a Ship (or any other Fleet Vessel) at any date during the Security Period is that shown by a valuation taking the arithmetic mean of two desktop valuations, each addressed to be the Lender and prepared: (a) as at a date not more than 14 days previously; (b) an by two Approved Broker (selected Brokers appointed or approved by the Borrowers and appointed by the Agent)Lender; (c) with or without physical inspection of the Ship (as the Agent 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, if the Agent reasonably determines that the Market Value of the Ship shown by a valuation prepared in accordance with this Clause.

Valuation of Ships. The Market Value of a Ship (or any other Fleet Vessel) at any date during the Security Period is that shown by a taking the arithmetic means of two valuations, each valuation to be prepared: (a) as at a date not more than 14 30 days previously; (b) by an Approved Broker (selected by the Borrowers and appointed by the Agent)Broker; (c) with or without physical inspection of the Ship (as the 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, if the Agent reasonably determines that the Market Value of the Ship shown by a valuation prepared in accordance with this Clause.

Valuation of Ships. The Market Value of a Ship (or any other Fleet Vessel) at any date during the Security Period is that shown by a taking the arithmetic means of two valuations, each valuation to be prepared: (a) as at a date not more than 14 days previously; (b) an Approved Broker (selected by the Borrowers and appointed by the Agent)Broker; (c) with or without physical inspection of the Ship (as the 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, if the Agent reasonably determines that the Market Value of the Ship shown by a valuation prepared in accordance with this Clause

Valuation of Ships. The Market Value of a Mortgaged Ship (or any other Fleet Vessel) at any date during the Security Period is that shown by a taking the arithmetic means of two valuations, each valuation to be prepared: (a) as at a date not more than 14 30 days previously; (b) an by 2 Approved Broker (selected by the Borrowers and appointed by the Agent)Brokers; (c) with or without physical inspection of the Ship (as the 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, if the Agent reasonably determines that the Market Value of the Ship shown by a valuation prepared in accordance with this Clause.