VALUATION OF THE PROPERTY. The Chargor hereby authorises the Chargee to value the Property annually or at such intervals as the Chargee shall in its discretion decide by any valuer or any officer of the Chargee or any person of the Chargee's choice at t he Chargee’s cost and expense and in the event such valuation reveals that the forced sale value of the Property is lower than that at the date hereof the Chargee shall have the discretion to require the Chargor within fourteen (14) days from the date of t he notice from the Chargee to charge, pledge, mortgage or deposit with the Chargee the Chargor's stocks and shares, assets, movable property and/ or the issue document of title, if any, of all immovable properties ves xxx in the Chargor of such value as the Chargee may from time to time require or for such tenure as the Chargee requires by way of further and additional security for the total amount owing for the time being under this Charge and the Property Sale Agreement. If the forced sale value of the Prop erty has in the opinion of the Chargee fallen to the extent that the aggregate of Indebtedness shall be excee ded and the Chargor shall fail upon request to provide further and additional security as required by th e Chargee to restore or maintain the aggreg ate of the Indebtedness, the Chargee shall be entitled at its discretion to demand and require the Chargor to make immediate payment of such amount and in such manner as may be necessary to reduce the aggregate of the Chargor's Indebtedness and failure by the Chargor to do so shall be deemed (with or without notice on the Chargee's part) to be an Event o f Default.
VALUATION OF THE PROPERTY. 23.1 If you ask us to make a change to your mortgage, for example if you apply to vary the Term or if you ask for our consent, for example to sell part of the Property, and we reasonably require a valuation, then you will need to pay a non-refundable Valuation Fee before the valuation of the Property takes place.
23.2 We may require further valuations of the Property during your mortgage even where you have not asked us to make a change to your mortgage. Where that is the case, we will be responsible for paying the cost of the valuation.
23.3 All valuations will be instructed by us and carried out by an independent, qualified valuer qualified through the Royal Institution of Chartered Surveyors. OUR RIGHTS 24 THE PROPERTY AS SECURITY
24.1 The Outstanding Balance is secured on the Property.
24.2 When you have signed the Mortgage Deed, we will arrange for a first ranking legal charge or Standard Security to be registered against the title to the Property at the Land Registry or Registers of Scotland. This will not be released until you have repaid the whole of the Outstanding Balance.
24.3 If the Property is leasehold and you also own the freehold, we may require a legal charge on the freehold. You must sign an appropriate deed for this purpose.
24.4 If the Property is leasehold and you own a share of the freehold or management company, we may require an assignment of the share or shares until you repay the Outstanding Balance. You must sign an appropriate deed for this purpose. If we sell the Property, we will transfer the share or shares to the purchaser.
VALUATION OF THE PROPERTY. During the term of this Agreement, the Property (including the land) shall be valued as enforceably restricted historical property as set forth in California Revenue and Taxation Code section 439 et seq.
VALUATION OF THE PROPERTY. The Chargor hereby authorises the Chargee to value the Property annually or at such intervals as the Chargee decide by any valuer or any officer of the Chargee or any person of the Chargee's choice at the Chargee's cost and expense and in the event such valuation reveals that the forced sale value of the Property:
(a) is lower than that at the date hereof the Chargee shall have the discretion to require the Chargor within fourteen (14) days from the date of the notice from the Chargee to charge, pledge, mortgage or deposit with the Chargee the Chargor's stocks and shares, assets, movable property and/or the issue document of title, if any, of all immovable properties vested in the Chargor of such value as the Chargee may from time to time require or for such tenure as the Chargee requires by way of further and additional security for the Indebtedness .
(b) in the opinion of the Chargee fallen to the extent that the amount payable under the Security Documents is higher and the Chargor shall fail upon request to provide further and additional security as required by the Chargee, the Chargee shall be to demand and require the Chargor to make immediate payment of such amount and in such manner as may be necessary to reduce the aggregate of the Chargor's Indebtedness to levels as required by the Chargee and failure by the Chargor to do so shall be deemed (with or without notice on the Chargee's part) to be an Event of Default.
VALUATION OF THE PROPERTY. Where required by Chubb, The Insured shall at the commencement of such insurance and when required provide Chubb with a written estimate of the cost at such date of Reinstatement of the Property Insured to which this memorandum applies made and certified by a Valuer acceptable to Chubb. The Sum Insured under the Policy and this memorandum in respect of each item will not be less than the amount of such estimate, and may be adjusted for renewal provided this is done within a two month period of the renewal date.
VALUATION OF THE PROPERTY. (a) The Bank shall be entitled to carry out or to require the Customer to carry out, at the cost and expense of the Customer, a valuation or a revaluation of the Property or any property of any Security Party which is offered by the Security Party as security to the Bank in respect of the Facility or which is the subject matter of any Security Document by any of the valuers on the Bank’s panel:
(i) at any time prior to the disbursement of the Facility Amount. If the valuation report confirms that the open market value or any other value of the Property as may be required by the Bank in its absolute discretion is less than the Contract Price, the Bank shall be entitled at its sole discretion to revise the Facility but which shall be ascertained prior to execution of this Agreement and notified to the Customer accordingly and impose any further conditions which shall likewise be ascertained as aforesaid as the Bank may require prior to the disbursement of the Facility Amount.
(ii) from time to time as and when it deems fit.
(b) Any determination of the Bank as to the value of or attributable to any property of any Security Party which is offered by the Security Party as security to the Bank in respect of the Facility or which is the subject matter of any Security Document shall be binding and conclusive on the Customer.
VALUATION OF THE PROPERTY. The Borrower and/or the Security Party hereby authorises the Bank to value the Property annually or at such interval as the Bank shall in its absolute discretion may decide by any valuer or any officer of the Bank or any person of the Bank’s choice at the Borrower’s sole cost and expense and in the event such valuation reveals that the forced sale value of the Property is lower than that at the date hereof the Bank shall have the absolute discretion to require the Borrower within fourteen
VALUATION OF THE PROPERTY. The Borrower hereby authorises the Bank to value the Property annually or at such interval as the Bank shall in its absolute discretion may decide by any valuer or any officer of the Bank or any person of the Bank's choice at the Borrower's sole cost and expense and in the event such valuation reveals that the forced sale value of the Property is lower than that at the date hereof the Bank shall have the absolute discretion to require the Borrower to within fourteen (14) days from the date of a notice from the Bank to charge, pledge, mortgage or deposit with the Bank the Borrower's stocks and shares, assets, movable property and/or the issue document of title, if any, or all immovable properties vested in the Borrower of such value as the Bank may from time to time require and for such tenure as the Bank so requires by way of further and additional security for the repayment of the total amount owing for the time being under this Agreement.
VALUATION OF THE PROPERTY. The Bank may appoint a valuer or require the Customer to carry out a valuation or a revaluation of the Property at any time prior to the disbursement of the Customer’s Sale Price, with the costs of valuation being borne by the Bank (except in the case of a valuation carried out for purposes of initial disbursement under the Facility or for purposes of enforcement of the security created under the Security Documents, in which case, the costs must be borne by the Customer). If the valuation report confirms that the open market value or any other value of the Property is less than the Sale and Purchase Price, the Bank will be entitled to revise the Facility prior to the execution of this Agreement and notify the Customer accordingly of such revision and impose any further conditions which the Bank will likewise ascertain (if required) prior to the disbursement of the Customer’s Sale Price.
VALUATION OF THE PROPERTY. Where the Bank carries out or requires the Customer(s) to carry out a valuation or a revaluation of the Property at any time prior to the disbursement of the Customer(s)’ Sale Price and if the valuation report confirms that the open market value or any other value of the Property as may be required by the Bank in its absolute discretion is less than the Sale and Purchase Price, the Bank shall be entitled at its sole discretion to revise the Facility but which shall be ascertained prior to execution of this Agreement and notified to the Customer(s) accordingly and impose any further conditions which shall likewise be ascertained as aforesaid as the Bank may require prior to the disbursement of the Customer(s)’ Sale Price.
