Common use of Valuations procedure Clause in Contracts

Valuations procedure. The value of each Mortgaged Ship shall be determined in accordance with, and by Approved Valuers appointed in accordance with, this Clause 24. Additional security provided under this 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 or as may be agreed in writing by the Borrower and the Administrative Agent (on the instructions of the Required Lender).

Valuations procedure. The value of each Mortgaged Ship shall be determined in accordance with, and by Approved Valuers appointed in accordance with, this Clause 24. Additional security provided under this 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 or as may be agreed in writing by the Borrower and the Administrative Agent (on the instructions of the Required LenderLenders).

Valuations procedure. The value of each any Mortgaged Ship before the Utilisation shall be determined in accordance with, and by Approved Valuers valuers approved and appointed in accordance with, this Clause 24clause 25. Additional security provided under this Clause 24 clause 25 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 Borrower Borrowers and the Administrative Agent (on the instructions of the Required LenderMajority Lenders).

Valuations procedure. The value of each any Mortgaged Ship and each Ship before its Delivery shall be determined in accordance with, and by Approved Valuers valuers approved and appointed in accordance with, this Clause 24clause 25. Additional security provided under this Clause 24 clause 25 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 Borrower Borrowers and the Administrative Agent (on the instructions of the Required LenderMajority Lenders).