Vessel Appraisals. The Facility Agent shall have received appraisals, in form and substance satisfactory to the Facility Agent, as to the Fair Market Value of the relevant Vessel.
Vessel Appraisals. The Administrative Agent shall have received appraisals, in form and substance satisfactory to the Administrative Agent, as to the Fair Market Value of the Second Vessel.
Vessel Appraisals. Lenders may conduct, and Borrower shall cooperate in the conduct of, a physical Appraisal of any or all of the Pool Vessels and Acquired Vessels at Borrower’s expense, over every eighteen (18) month period of this Agreement in the absence of an Event of Default and at any time during the continuance of an Event of Default. The first eighteen-month period will begin on the Effective Date; provided, however, that Borrower will allow access to any appraiser sent by Lenders to attend and appraise any Vessel in drydock at any time on reasonable notice. Each fiscal year, Borrower shall provide Collateral Agent with a drydock schedule and location of drydock.
Vessel Appraisals. Lender may conduct, and Borrower shall cooperate in the conduct of, a physical Appraisal of any or all of the Vessels at Borrower’s expense, over every twelve (12) month period of this Agreement in the absence of an Event of Default and at any time during the continuance of an Event of Default. The first twelve-month period will begin on the Closing Date; provided, however, that Borrower will allow access to any appraiser sent by Lender to attend and appraise any Vessel in drydock at any time on reasonable notice. Each fiscal year, Borrower shall provide Lender with a drydock schedule and location of drydock. In the event Lender consents to defer the initial Appraisal contemplated in Section 3.1(o) hereof to a date subsequent to Closing, such deferred Appraisal shall not defer any right of Lender to conduct a subsequent Appraisal within the first twelve month period.
Vessel Appraisals. The Facility Agent shall have received valuations of the Fair Market Value of each Vessel.
Vessel Appraisals. Cause the Fair Market Value of the Vessels to be determined annually by any two (2) brokers listed on Schedule IV and selected by the Borrower, such appraisals to be addressed and delivered to the Facility Agent along with the annual financial statements to be delivered pursuant to Section 9.1.(B)(h);.and
Vessel Appraisals. The Facility Agent shall have received two appraisals of the Fair Market Value of each New Credit Support Vessel in form and substance satisfactory to the Facility Agent, and the aggregate Fair Market Value (as evidenced by such appraisals) of all the New Credit Support Vessels to be mortgaged to the Security Trustee shall, on the Effective Date be equal to or greater than the Fair Market Value of the Released Vessels;
Vessel Appraisals. The Facility Agent shall have received appraisals of each Vessel from Approved Brokers, in form and substance satisfactory to the Facility Agent, so as to determine the Fair Market Value of each such Vessel, accompanied by a certificate evidencing that the amount of the Loan to be advanced on the Drawdown Date is equal to or less than 46.5% of the Fair Market Value of the Vessels;
Vessel Appraisals. The Facility Agent shall have received two appraisals of the Fair Market Value of each New Credit Support Vessel in form and substance satisfactory to the Facility Agent, and the aggregate Fair Market Value (as evidenced by such appraisals) of all the New Credit Support Vessels to be mortgaged to the Security Trustee following the effectiveness of this Amendment shall comply be equal to or greater than the Fair Market Value of the Release Vessel;
Vessel Appraisals. The Agents shall have received appraisals from an appraiser and in form and substance satisfactory to the Agents, with respect to certain Vessels subject to a Vessel Mortgage on the Drawdown Date of such Loan. The Agents shall be satisfied, based on such appraisals, that the Borrower will be in compliance with ss.13.4 hereof on such Drawdown Date, after giving effect to all Loans to be made and Letters of Credit to be issued on such date.
