Valuation of Vessels Sample Clauses

Valuation of Vessels. Each of the Vessels shall, for the purposes of this Clause 8.5, be valued in Dollars once a year or, if an Event of Default has occurred and is continuing at any other time that the Lender shall reasonably require by an Approved Shipbroker (such valuation to be made without, unless required by the Lender, physical inspection, and on the basis of a sale for prompt delivery for cash at arm’s length on normal commercial terms as between a willing buyer and a willing seller, without taking into account the benefit of any charterparty or other engagement concerning the relevant Vessel. The Lender and the Borrower agree to accept such valuation made by the Approved Shipbroker appointed as aforesaid as conclusive evidence of the Market Value of the relevant Vessel at the date of such valuation and such valuation shall constitute the Market Value of that Vessel for the purposes of this Clause 8.5. The value of each Vessel determined in accordance with the provisions of this Clause 8.5 shall be binding upon the Borrower and the Lender until such time as any further such valuations shall be obtained.
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Valuation of Vessels. (whereas the costs shall be borne by the Borrowers in accordance with Clause 8.5(d) (Costs)) or if the additional security is in the form of a cash deposit full credit shall be given for such cash deposit on a Dollar for Dollar basis.
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Valuation of Vessels. The Market Value of a Vessel at any time is that shown by the latest Valuation in respect of that Vessel.
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Valuation of Vessels. Each of the Mortgaged Vessels shall, for the purposes of this Clause 8.2, be valued in Dollars, ten (10) days prior to the relevant Delivery Date and thereafter at least twice a year and as and when the Agent (acting on the instructions of the Majority Lenders) shall require by one (1) first class independent firm of internationally known shipbrokers appointed by the Agent (acting on the instructions of the Majority Lenders) such valuation to be made without, unless requited by the Agent, physical inspection, and on the basis of a sale for prompt delivery for cash at arms length on normal commercial terms as between a willing buyer and a willing seller without taking into account the benefit of any charterparty or other engagement concerning the relevant Mortgaged Vessel. In case the Borrowers disagree with the first valuation of a Vessel the Agent shall obtain a second valuation of the relevant Vessel on the same basis as aforesaid through an independent firm of internationally known shipbrokers acceptable to the Agent, provided however that in case there is a difference of more than 10% between the said two valuations the Agent shall be entitled to obtain a third valuation of the relevant Vessel on the same basis as aforesaid through an independent firm of internationally known shipbrokers acceptable to the Agent. The mean of such two (2) or, as the case may be, three (3) valuations shall constitute the value of the relevant Vessel for the purposes of this Clause 8.2 and shall be binding upon the parties hereto until such time as any further such valuation in respect of such Vessel shall be obtained.
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Valuation of Vessels immediately after the Total Loss or the sale or other disposal of the relevant Vessel, as the case may be is at least equal to 125% of the amount of the Loan;
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Valuation of Vessels by an Approved Shipbroker in form and substance satisfactory to the Lender, for the purposes of determining the amount of the Loan as per Clause 1.1 (Amount and purpose);
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Valuation of Vessels. Each Mortgaged Vessel and each Chartered-in Vessel shall, for the purposes of this Agreement, be valued (at the Borrowers’ expense) in USD by any Approved Broker appointed by and reporting to the Bank, such valuations to be made without physical inspection, and on the basis of a sale for prompt delivery for cash at arms’ length, on normal commercial terms, as between a willing buyer and a willing seller, taking into account the benefit or burden of any charterparty or other engagement concerning the relevant Vessel (including without limitation any Existing Charters in respect thereof):
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Valuation of Vessels. Each Vessel shall, for the purposes of this Clause 8.2, be valued in Dollars, prior to the Drawdown Date and thereafter as and when the Bank shall require (but at least once per year) by one (1) first class independent firm of internationally known shipbrokers appointed by the Bank such valuation to be made without, unless required by the Bank, physical inspection, and on the basis of a sale for prompt delivery for cash at arms length on normal commercial terms as between a willing buyer and a willing seller, without taking into account the benefit or the burden of any charterparty concerning such Vessel. Such valuation shall constitute the value of each Vessel for the purposes of this Clause 8.2 and shall be binding upon the parties hereto until such time as any further such valuation in respect of such Vessel shall be obtained.
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Related to Valuation of Vessels

  • Valuation of Property (i) Should the purchase price specified in the Transfer Notice be payable in property other than cash or evidences of indebtedness, the Holders shall have the right to pay the purchase price in the form of cash equal in amount to the fair market value of such property.

  • VALUATION OF ASSETS (a) Except as may be required by the 1940 Act, the Board of Managers shall value or have valued any Securities or other assets and liabilities of the Fund as of the close of business on the last day of each Fiscal Period in accordance with such valuation procedures as shall be established from time to time by the Board of Managers and which conform to the requirements of the 1940 Act. In determining the value of the assets of the Fund, no value shall be placed on the goodwill or name of the Fund, or the office records, files, statistical data or any similar intangible assets of the Fund not normally reflected in the Fund's accounting records, but there shall be taken into consideration any items of income earned but not received, expenses incurred but not yet paid, liabilities, fixed or contingent, and any other prepaid expenses to the extent not otherwise reflected in the books of account, and the value of options or commitments to purchase or sell Securities or commodities pursuant to agreements entered into prior to such valuation date.

  • Value of additional vessel security The net realisable value of any additional security which is provided under Clause 15.2 and which consists of a Security Interest over a vessel shall be that shown by a valuation complying with the requirements of Clause 15.3.

  • VALUATION OF TRUST In addition to each Accounting Date, the Trustee must value the Trust Fund on the following valuation date(s): (Choose (a) or (b))

  • Valuation of Collateral Securities Intermediary shall provide view only access to its systems to Secured Party for the purpose of communicating data as to the Reserve Account as of that date.

  • Valuation The Subscriber acknowledges that the price of the Securities was set by the Company on the basis of the Company’s internal valuation and no warranties are made as to value. The Subscriber further acknowledges that future offerings of Securities may be made at lower valuations, with the result that the Subscriber’s investment will bear a lower valuation.

  • Calculation of Time Unless otherwise specified, time periods within or following which any payment is to be made or act is to be done shall be calculated by excluding the day on which the period commences and including the day on which the period ends. Where the last day of any such time period is not a Business Day, such time period shall be extended to the next Business Day following the day on which it would otherwise end.

  • Determination of Fair Market Value For purposes of this Section 10.2, “fair market value” of a share of Common Stock as of a particular date (the “Determination Date”) shall mean:

  • VALUATION OF SHARES The net asset value per share of the Acquiring Fund Shares shall be the net asset value per share computed as of the close of business on the New York Stock Exchange on the Valuation Date, using the valuation procedures set forth in the Trust’s Declaration of Trust and the Acquiring Fund’s then current prospectus and statement of additional information.

  • Valuation of additional security For the purpose of this clause 8.2, the market value of any additional security provided or to be provided to the Bank shall be determined by the Bank in its absolute discretion without any necessity for the Bank assigning any reason thereto.

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