Valuation of the. Works The Works shall be valued as provided for in the Appendix, subject to Clause 10
Valuation of the. SALE SHARES ----------------------------
Valuation of the. Vessel at any time (and at least once per year) that the Bank might consider to be (at the sole discretion of the Bank) necessary or useful and at the expense of the Borrower, have the Vessel valued in Dollars, without, unless required by the Bank, physical inspection and on the basis of sale for prompt delivery and free of Encumbrances for cash at arm’s length on normal commercial terms as between a willing seller and a willing buyer without taking into account the benefit of any charterparty or other engagement concerning the Vessel (“the basis of valuation”), by a reputable shipbroker (such as Arrow, BRS, Clarksons, Fearnleys, Platou, SSY, Galbraiths and Xxxxxx) as may from time to time be appointed by the Bank for this purpose;
Valuation of the. Works The Works shall be valued as provided for in Schedule Six, subject to Clause 10.
