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 taking the arithmetic means of two valuations addressed to the Agent, each valuation to be prepared: (a) as at a date not more than 30 days previously; (b) by an Approved Broker nominated by the Borrowers and approved by the Agent; (c) with or without physical inspection of the Ship (as the Agent 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.

Valuation of Ships. The Market Value of a Ship (or any other Fleet Vessel) at any date is that shown by taking the arithmetic means of two valuations addressed to the Agent, each one valuation to be prepared: (a) as at a date not more than 30 days previously; (b) by an Approved Broker nominated by the Borrowers and approved appointed by the Agent; (c) with or without physical inspection of the Ship (as the Agent may require); and (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.

Valuation of Ships. The Market Value of a Ship (or any other Fleet Vessel) at any date is that shown by taking the arithmetic means mean of two valuations addressed to the Agentvaluations, each valuation to be prepared: (a) as at a date not more than 30 days previously; (b) by an Approved Broker nominated by the Borrowers and approved by the AgentBroker; (c) with or without physical inspection of the Ship (as the Agent may require); and (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.

Valuation of Ships. The Market Value market value of a Ship at any date is that shown by taking the arithmetic means of two valuations addressed to the Agent, each a valuation to be prepared: (a) as at a date not more than 30 21 days previously; (b) by an Approved Broker nominated by the Borrowers and approved by the AgentBroker; (c) with or without physical inspection of the that Ship (as the Agent 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.