Appraisal Method definition

Appraisal Method means one appraiser shall be appointed by the holders of a majority of the Class A Membership Interests and one appraiser shall be appointed by the holders of a majority of the Class B Membership Interests, in each case, within fifteen (15) days of invocation of this procedure, which appraisers shall attempt to agree upon the fair market value of the Class B Membership Interests. If either holders of the Class A Membership Interests or holders of the Class B Membership Interests do not appoint their respective appraiser within five (5) days after the end of such fifteen (15) day period, the determination of the appraiser appointed by the other Person (if so appointed within such period) shall be conclusive and binding on the Members. If the appraisers appointed by the holders of Class A Membership Interests and the holders of Class B Membership Interests are unable to agree upon the fair market value of the Class B Membership Interests within thirty (30) days after the appointment of the second of such appraisers, the two appraisers shall appoint a third appraiser. In such case, the average of the determinations of the three appraisers shall be conclusive and binding on the Members, unless the determination of any of the appraisers differs from the middle determination by more than twice the amount by which the remaining determination differs from the middle determination, in which case the most disparate appraisal shall be excluded, and the average of the remaining two determinations shall be conclusive and binding on the Members.
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Appraisal Method means one appraiser shall be appointed by the Class A Member and one appraiser shall be appointed by the Class B Member, in each case, within fifteen (15) calendar days of a Member invoking the procedure described in this definition and delivering notice thereof to the other Members, which appraisers shall attempt to agree upon the fair market value of the Class A Membership Interests. If either the Class A Member or the Class B Member does not appoint its appraiser within the fifteen (15) calendar day period referenced in the immediately preceding sentence, the Member that has appointed an appraiser may deliver written notice to the other Member regarding its failure to appoint an appraiser within the required time period, and if such other Member does not appoint an appraiser within five (5) Business Days after receiving such notice, the determination of the appraiser that has been appointed shall be conclusive and binding on the Members. If the appraisers appointed by the Class A Member and the Class B Member are unable to agree upon the fair market value of the Class A Membership Interests within thirty (30) calendar days after the appointment of the second of such appraisers, the two appraisers shall appoint a third appraiser. In such case, the average of the determinations of the three appraisers shall be conclusive and binding on the Members, unless the determination of one independent appraiser is disparate from the middle determination by more than twice the amount by which the third determination is disparate from the middle determination, in which case the determination of the most disparate appraiser shall be excluded, and the average of the remaining two determinations shall be conclusive and binding on the Members. Any appraiser shall be qualified, and have at least three years of experience, in appraising PV Systems. The Class A Member and the Class B Member, respectively, shall bear their own costs in appointing their respective appraiser and shall evenly split the costs of any third appraiser.
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Appraisal Method. If both of the above methods fail, the price for a Disassociated Member’s Interest shall be determined by appraisal of the Disassociated Member’s Interests by one or more independent, certified commercial business appraisers currently operating in the business of the Underlying Asset(s), as follows: · The Disassociated Member shall hire and pay the first appraiser, who shall provide an Estimated Market Value for the Series. If acceptable to the parties, this Estimated Market Value will be used to calculate the value of the Disassociated Member’s Interest. · If the first appraiser’s valuation is unacceptable, the Purchasing Members may hire their own appraiser and the average of the two appraisals (if within twenty percent (20%)) may be used to determine the value of the Series on which the purchase price will be based. If the two appraisals differ by more than twenty percent (20%) and the parties still cannot agree on the value, then, · A third appraisal may be obtained (at the option of either party), the cost of which will be split between the Purchasing Members and the Disassociated Member. The average of the two appraisals closest in value will be conclusively used to establish the Estimated Market Value of the Series on which the value of the Interest will be based.
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Examples of Appraisal Method in a sentence

  • The prime contractor shall be appraised at Level 3 or higher for Capability Maturity Model (CMM), Capability Maturity Model Integration (CMMI), or CMMI Development using the Software Engineering Institute's (SEI) Standard CMMI Appraisal Method for Process Improvement (SCAMPI) (Method A) by an SEI-authorized lead appraiser, or comparable documented systems engineering processes, for the entire performance period of the contract, inclusive of options.

  • Education Code 21.352(f)A teacher who directs extracurricular activities in addition to per- forming classroom teaching duties shall be appraised only on the Disciplinary Referrals Access to Evaluations Confidentiality Two Appraisal Methods Selection of Appraisal Method Notice to Service Centerbasis of classroom teaching performance and not on performance in connection with extracurricular activities.

  • The prime contractor shall be appraised at Level 2 or higher for Capability Maturity Model (CMM), Capability Maturity Model Integration (CMMI), or CMMI Development using the Software Engineering Institute's (SEI) Standard CMMI Appraisal Method for Process Improvement (SCAMPI) (Method A) by an SEI-authorized lead appraiser, or comparable documented systems engineering processes, for the entire performance period of the contract, inclusive of options.

  • The prime contractor shall be appraised at Level 2 or higher for Capability Maturity Model (CMM), Capability Maturity Model Integration (CMMI), or CMMI Development using the Software Engineering Institute's (SEI) Standard CMMI Appraisal Method for Process Improvement (SCAMPI) (Method A) by an SEI-authorized lead appraiser, or comparable documented systems engineering processes, for the entireperformance period of the contract, inclusive of options.

  • In no event, without the approval of Members by a Class Majority Vote, will a sale to a Member be for an amount that is less than fair market value (determined by the Appraisal Method if the Members (by a Class Majority Vote) are unable to agree on the fair market value).

  • In no event, without the approval of Members by Required Majority Vote, will a sale to a Member be for an amount that is less than fair market value (determined by the Appraisal Method if the Members (by Required Majority Vote) are unable to agree on the fair market value).

  • The contractor shall conduct periodic GPS team-wide Standard CMMI® Appraisal Method For Process Improvement (SCAMPI)(SM) Class B appraisals against the CMMI® software engineering, integrated product and process development, and supplier sourcing (SW/IPPD/SS) staged model and shall describe the planned conduct of such appraisals in their IMP.

  • A New Framework for Selection of the Best Performance Appraisal Method.

  • The Random Path Appraisal Method (RPAM) may be used at the discretion of the AIP to appraise the almond crop production.

  • If further care for a damaged immature crop is not feasible or the insured will remove a portion of the orchard or sub-orchard, appraise the crop potential using the Immature Appraisal Method.


More Definitions of Appraisal Method

Appraisal Method means one appraiser shall be appointed by the Class A Members and one appraiser shall be appointed by the Class B Members, in each case, within 15 days of a party invoking the procedure described in this definition, which appraisers shall attempt to agree upon the fair market value of the Class B Membership Interests. Provided that the Class A Members are provided two (2) Business Days’ written notice prior to the expiration of the 15 day period referenced in the immediately preceding sentence, if either the Class A Member or the Class B Member does not appoint its appraiser within 5 days after the end of such 15 day period, the determination of the appraiser appointed by the other Person (if so appointed within such period) shall be conclusive and binding on the Members. If the appraisers appointed by the Class A Members and the Class B Members are unable to agree upon the fair market value of the Class B Membership Interests within 30 days after the appointment of the second of such appraisers, the two appraisers shall appoint a third appraiser. In such case, the average of the determinations of the three appraisers shall be conclusive and binding on the Members, unless the determination of one independent appraiser differs from the middle determination by more than twice the amount by which the third determination differs from the middle determination, in which case the determination of the most disparate appraiser shall be excluded, and the average of the remaining two determinations shall be conclusive and binding on the Members.
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Appraisal Method means a technique used to evaluate job-related knowledge, skills, abilities, competencies, and other qualifications to determine eligibility for a position in the classified service.
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Related to Appraisal Method

  • Appraisal Well means a Well drilled pursuant to an Appraisal Programme.

  • Appraisal Percentage means 90%.

  • Appraisal Procedure means a procedure whereby two independent appraisers, one chosen by the Company and one by the Investor, shall mutually agree upon the Fair Market Value. Each party shall deliver a notice to the other appointing its appraiser within 10 days after the Appraisal Procedure is invoked. If within 30 days after appointment of the two appraisers they are unable to agree upon the Fair Market Value, a third independent appraiser shall be chosen within 10 days thereafter by the mutual consent of such first two appraisers. The decision of the third appraiser so appointed and chosen shall be given within 30 days after the selection of such third appraiser. If three appraisers shall be appointed and the determination of one appraiser is disparate from the middle determination by more than twice the amount by which the other determination is disparate from the middle determination, then the determination of such appraiser shall be excluded, the remaining two determinations shall be averaged and such average shall be binding and conclusive upon the Company and the Investor; otherwise, the average of all three determinations shall be binding upon the Company and the Investor. The costs of conducting any Appraisal Procedure shall be borne by the Company.

  • Appraisal review means the act or process of developing

  • Appraisal Foundation means the Appraisal Foundation established on November 30, 1987, as a not-for-profit corporation under the laws of Illinois.

  • Appraisal report A report setting forth the fair market value of a Mortgaged Property as determined by an appraiser who, at the time the appraisal was conducted, met the minimum qualifications of FNMA and FHLMC for appraisers of conventional residential mortgage loans.

  • Appraisal District means the Xxxxxx County Appraisal District.

  • MAI Appraiser With respect to any real property, a member of the American Institute of Real Estate Appraisers with a minimum of 5 years of experience appraising real property of a type similar to the real property being appraised and located in the same geographical area as the real property being appraised.

  • Independent Appraiser means a nationally recognized or major regional investment banking firm or firm of independent certified public accountants of recognized standing (which may be the firm that regularly examines the financial statements of the Issuer) that is regularly engaged in the business of appraising the Capital Stock or assets of corporations or other entities as going concerns, and which is not affiliated with either the Issuer or the Holder of any Warrant.

  • Appraiser An Independent nationally recognized professional commercial real estate appraiser who (i) is a member in good standing of the Appraisal Institute, (ii) if the state in which the related Mortgaged Property is located certifies or licenses appraisers, is certified or licensed in such state, and (iii) has a minimum of five years’ experience in the related property type and market.

  • Acceptable Appraisal means, with respect to an appraisal of Inventory, the most recent appraisal of such property received by Agent (a) from an appraisal company satisfactory to Agent, (b) the scope and methodology (including, to the extent relevant, any sampling procedure employed by such appraisal company) of which are satisfactory to Agent, and (c) the results of which are satisfactory to Agent, in each case, in Agent’s Permitted Discretion.

  • Current Appraisal With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its own expense from an independent appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Company as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Company's customary requirements for such appraisals. Election to Delay Foreclosure: Any election by the Purchaser to delay the Commencement of Foreclosure, made in accordance with Section 2.02(b).

  • Appraisal Subcommittee means the Appraisal Subcommittee of the Federal Financial Institutions Examination Council.

  • Appraisal shall have the meaning assigned to such term in the Servicing Agreement.

  • Appraisal Reduction Amount shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Required Appraisal shall have the meaning provided in Section 8.11(g).

  • Appraisal Reduction Event With respect to any Serviced Loan, the earliest of (i) the date on which such Serviced Loan becomes a Modified Asset, (ii) the date on which such Serviced Loan is 60 days or more delinquent in respect of any Monthly Payment, which does not include a Balloon Payment, (iii) solely in the case of a delinquent Balloon Payment, (A) the date occurring 60 days after the date on which such Balloon Payment was due (except as described in the immediately following clause (B)) or (B) if the related Mortgagor has delivered to the Master Servicer (who shall promptly deliver a copy thereof to the Special Servicer) or the Special Servicer (who shall promptly deliver a copy thereof to the Master Servicer) a refinancing commitment acceptable to the Special Servicer prior to the date 60 days after the Balloon Payment was due, the date occurring 120 days after the date on which the Balloon Payment was due (or such shorter period beyond the date on which that Balloon Payment was due during which the refinancing is scheduled to occur), (iv) the date on which the related Mortgaged Property has become an REO Property, (v) a receiver or similar official is appointed and continues for 60 days in such capacity in respect of the related Mortgaged Property, (vi) 60 days after the related Mortgagor is subject to a bankruptcy, insolvency or similar proceedings, which, in the case of an involuntary bankruptcy, insolvency or similar proceeding, is not dismissed within those 60 days, or (vii) the date on which such Serviced Loan remains outstanding five (5) years following any extension of its maturity date pursuant to Section 3.24 of this Agreement. If an Appraisal Reduction Event occurs with respect to any Serviced Mortgage Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Companion Loan(s). If an Appraisal Reduction Event occurs with respect to any Serviced Companion Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Mortgage Loan and any other Serviced Companion Loan(s) included as part of that Serviced Loan Combination. No Appraisal Reduction Event may occur at any time when the aggregate Certificate Balance of all Classes of Principal Balance Certificates (other than the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates) has been reduced to zero. The Special Servicer shall notify the Master Servicer and the Master Servicer shall notify the Special Servicer, as applicable, promptly upon the occurrence of any of the foregoing events.

  • Appraiser panel means a network, list or roster of licensed or certified ap- praisers approved by an AMC to per- form appraisals as independent con- tractors for the AMC. Appraisers on an AMC’s ‘‘appraiser panel’’ under this part include both appraisers accepted by the AMC for consideration for fu- ture appraisal assignments in covered transactions or for secondary mortgage market participants in connection with covered transactions and appraisers en- gaged by the AMC to perform one or more appraisals in covered trans- actions or for secondary mortgage mar- ket participants in connection with covered transactions. An appraiser is an independent contractor for purposes of this subpart if the appraiser is treat- ed as an independent contractor by the AMC for purposes of Federal income taxation.

  • Qualified Appraiser An appraiser, duly appointed by the Seller, who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof, and whose compensation was not affected by the approval or disapproval of the Mortgage Loan, and such appraiser and the appraisal made by such appraiser both satisfied the requirements of Title XI of FIRREA and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated.

  • Uniform Standards of Professional Appraisal Practice means the current standards of the appraisal profession, developed for appraisers and users of appraisal services by the Appraisal Standards Board of the Appraisal Foundation.

  • Adjusted Mortgage Rate As to each Mortgage Loan, and at any time, the per annum rate equal to the Mortgage Rate less the Master Servicing Fee Rate.

  • Adjusted Net Maximum Mortgage Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed-Rate Mortgage Loan) as of the first day of the month preceding the month in which the related Distribution Date occurs minus the sum of (i) the Trustee Fee Rate and (ii) the Servicing Fee Rate.