Common use of Valuations procedure Clause in Contracts

Valuations procedure. The value of any Mortgaged Ship and each Ship before its Delivery shall be determined in accordance with, and by valuers approved and appointed in accordance with, this clause 25. Additional security provided under this clause 25 shall be valued in such a way, on such a basis and by such persons (including the Agent itself) as may be approved by the Majority Lenders or as may be agreed in writing by the Borrowers and the Agent (on the instructions of the Majority Lenders).

Valuations procedure. The value of any Mortgaged Ship and each Ship before its Delivery the Utilisation shall be determined in accordance with, and by valuers approved and appointed in accordance with, this clause 25. Additional security provided under this clause 25 shall be valued in such a way, on such a basis and by such persons (including the Agent itself) as may be approved by the Majority Lenders or as may be agreed in writing by the Borrowers and the Agent (on the instructions of the Majority Lenders).

Valuations procedure. The value of any each Mortgaged Ship and each Ship before its Delivery shall be determined in accordance with, and by valuers approved and Approved Valuers appointed in accordance with, this clause 25Clause 24. Additional security provided under this clause 25 Clause 24 shall be valued in such a way, on such a basis and by such persons (including the Administrative Agent itself) as may be approved by the Majority Lenders or as may be agreed in writing by the Borrowers Borrower and the Administrative Agent (on the instructions of the Majority Required Lenders).

Valuations procedure. The value of any each Mortgaged Ship and each Ship before its Delivery shall be determined in accordance with, and by valuers approved and Approved Valuers appointed in accordance with, this clause 25Clause 24. Additional security provided under this clause 25 Clause 24 shall be valued in such a way, on such a basis and by such persons (including the Administrative Agent itself) as may be approved by the Majority Lenders or as may be agreed in writing by the Borrowers Borrower and the Administrative Agent (on the instructions of the Majority LendersRequired Lender).

Valuations procedure. The value of any Mortgaged Ship and each Ship before its Delivery shall be determined in accordance with, and by valuers approved and two Approved Valuers appointed in accordance with, this clause 25. Additional security provided under this clause 25 shall be valued in such a way, on such a basis and by such persons (including the Agent itself) as may be approved by the Majority Lenders or as may be agreed in writing by the Borrowers and the Agent (on the instructions of the Majority Lenders).