Appraisal Condition definition

Appraisal Condition is defined in Section 2.3.
View Source
Appraisal Condition means the receipt by the Administrative Agent of an Acceptable Appraisal of each Borrowing Base Property pursuant to an Appraisal Election by the Borrower.
View Source
Appraisal Condition shall have the meaning ascribed to such term in Section 7.3 of the Schedule.
View Source

Examples of Appraisal Condition in a sentence

  • If the REPC is not cancelled as provided in this section 8.2, Buyer shall be deemed to have waived the Appraisal Condition.

  • This condition is referred to as the "Appraisal Condition." If checked in the affirmative, Sections 8.2(a) and 8.2(b) apply; otherwise they do not.

  • The Seller agrees to promptly engage an Independent Financial Advisor with a view to satisfying the Appraisal Condition and, upon satisfaction thereof, Seller shall give notice thereof to the Purchaser.

  • If the REPC is not cancelled as provided in this section 8.2, Buyer shall be deemed to have waived the Appraisal Condition, and except as provided in Sections 8.1(b) and 8.3(b)(i), the ▇▇▇▇▇▇▇ Money Deposit shall become non-refundable.

  • As of the last day of any fiscal quarter, the ratio of (i) Consolidated EBITDA to (ii) Consolidated Fixed Charges, in each case for the Parent, on a consolidated basis, for the fiscal quarter then ended, annualized, to be less than 2.0 to 1.0, decreasing to 1.75 to 1.0 if the Appraisal Condition is satisfied.

  • If the Appraisal Condition is not satisfied within 45 days of the date hereof, either Purchaser or Seller may, at its option by giving written notice thereof to the other, terminate this Agreement, whereupon neither party shall have any further obligation hereunder to the other.

  • Satisfy the Equipment Appraisal Condition and provide Lender with each of the reports set forth on Schedule 6.2 at the times specified therein.

  • Any costs incurred in connection with an appraisal pursuant to the Appraisal Condition of this Policy will be paid in accordance with that provision.

  • If the REPC is not cancelled as provided in this section 8.2(a), Buyer shall be deemed to have waived the Appraisal Condition.

  • Appraisal; Condition of the Facility ..........................................................................


More Definitions of Appraisal Condition

Appraisal Condition means, at any time prior to the Facility Increase Termination Date, either (a) (i) with respect to the Borrowing of the Delayed Draw Term Loan, seventy-five percent (75%) of the aggregate fair market value of FMC’s Term Loan Collateral subject to a Mortgage, as set forth in Updated Appraisals, is greater than $18,071,425, or (ii) with respect to the Borrowing of any Revolver Loans, seventy-five percent (75%) of the aggregate fair market value of FMC’s Real Estate Subfacility Assets subject to a Mortgage, as set forth in Updated Appraisals, is greater than $11,250,000; or (b) the Administrative Agent shall have confirmed to FMC that Updated Appraisals shall not be required.
View Source