Aggregate Collateral Vessel Value definition

Aggregate Collateral Vessel Value shall have the meaning provided in Section 9.09(a).
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Aggregate Collateral Vessel Value means the aggregate appraised “Fair Market Value” without charter of all Collateral Vessels, as set forth in the most recent desktop appraisal report delivered pursuant to Section 6.6(d); provided that, in connection with any Event of Loss, Asset Sale involving a Collateral Vessel, addition of a Collateral Vessel in accordance with Section 6.12 or release of a Collateral Vessel in accordance with Section 11.20, such aggregate appraised value shall be adjusted as of the relevant date of determination to add or subtract, as applicable, the “Fair Market Value” attributed to such Collateral Vessel in the most recent desktop appraisal report. For the avoidance of doubt, the Fair Market Value of any Collateral Vessel that is not covered in the most recent desktop appraisal report delivered pursuant to Section 6.6(d) is $0.
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Aggregate Collateral Vessel Value means the aggregate net book value of all Collateral Vessels calculated in accordance with GAAP, as certified by a senior officer of the Borrower in a certificate delivered to the Administrative Agent together with the financial statements delivered pursuant to Section 6.1.1(a) or (b) hereof (or, prior to the delivery of the first such financial statements hereunder, as certified by a senior officer of the Borrower in a certificate delivered to the Administrative Agent on or prior to the Effective Date).
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Examples of Aggregate Collateral Vessel Value in a sentence

  • The parties hereby acknowledge that this Section 8.9 may not be relied on for purposes of calculating any financial ratios other than as applicable to Section 7.7 and shall not result in any adjustment to any baskets or other amounts other than the amount of the Adjusted EBITDA, Liquidity, and Aggregate Collateral Vessel Value for the purpose of Section 7.7.

  • The parties hereby acknowledge that this Section 8.9 may not be relied on for purposes of calculating any financial ratios other than as applicable to Section 7.7 and shall not result in any adjustment to any baskets or other amounts other than the amount of the Adjusted EBITDA, and Aggregate Collateral Vessel Value for the purpose of Section 7.7.


More Definitions of Aggregate Collateral Vessel Value

Aggregate Collateral Vessel Value means the aggregate appraised value without charter of (a) all Collateral Vessels and any Vessel under construction, in each case, as set forth in the most recent annual desktop appraisal report delivered pursuant to Section 6.6(d) and (b) the value of the deposits in any CRF Account, if any, which are subject to Adequate CRF Security; provided that, in connection with any Event of Loss, Asset Sale involving a Collateral Vessel, addition of a Collateral Vessel in accordance with Section 6.12 or release of a Collateral Vessel in accordance with Section 11.21, such aggregate appraised value shall be adjusted as of the relevant date of determination to add or subtract, as applicable, the Fair Market Value as of such date of the relevant Vessel, as determined in good faith by the Borrower and reasonably acceptable to the Security Trustee.
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Aggregate Collateral Vessel Value means the aggregate appraised value without charter of (a) all Collateral Vessels and any Vessel under construction, including, without duplication prior to the date of the delivery and acceptance under the relevant shipbuilding contract of any NASSCO NEWBUILD or the ATB, the appraised “as delivered” Fair Market Value without charter of such NASSCO NEWBUILD or ATB, in each case, as set forth in the most recent annual desktop appraisal report delivered pursuant to Section 6.6(d) and (b) the value of the deposits in any CRF Account, if any, which are subject to Adequate CRF Security; provided that, in connection with any Event of Loss, Asset Sale involving a Collateral Vessel, addition of a Collateral Vessel in accordance with Section 6.12 or release of a Collateral Vessel in accordance with Section 11.21, such aggregate appraised value shall be adjusted as of the relevant date of determination to add or subtract, as applicable, the Fair Market Value as of such date of the relevant Vessel, as determined in good faith by the Borrower and reasonably acceptable to the Security Trustee.
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Aggregate Collateral Vessel Value. $[_____,_____,_____] to the sum of
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Related to Aggregate Collateral Vessel Value

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Borrowing Base Amount means:

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Applicable Value means, as of any date, with respect to each Share, the fair value of such Share, as determined in good faith by the Board of Directors.

  • Security Amount means an amount equal to:

  • Excess Collateral Amount means, at any time, the excess of (a) the sum of (i) the Collateral Amount, and (ii) the Principal Accumulation Account Balance, over (b) the Note Principal Balance.

  • Appraised Value The value set forth in an appraisal made in connection with the origination of the related Mortgage Loan as the value of the Mortgaged Property.