Appraised Value Percentage means with respect to Inventory of any Loan Party, the orderly liquidation value thereof (expressed as a percentage of the Cost of such Inventory) as determined from time to time (and updated at least once in each calendar year) in a manner acceptable to the Administrative Agent by an experienced and reputable independent appraiser acceptable to the Administrative Agent, net of all costs of liquidation thereof.
Appraised Value Percentage means the net appraised recovery value of the Borrower’s and the Subsidiary Guarantors’ Inventory as set forth in the Borrower’s accounting ledger (expressed as a percentage of the cost of such Inventory) as reasonably determined from time to time by reference to the most recent appraisal received by the Administrative Agent conducted by an independent appraiser reasonably satisfactory to the Administrative Agent.
Appraised Value Percentage means, as of any date, with respect to Completed Unsold Homes, Land/Lots Under Development, Unimproved Land and Unsold Homes Under Construction, the applicable fraction (expressed as a decimal) as set forth in the most recent report of the Appraiser delivered in accordance with Section 6.19.
Examples of Appraised Value Percentage in a sentence
In the event the FILO B Documentation Agent disagrees with the results of any Inventory Appraisal or its methodology, which Inventory Appraisal results in a higher Appraised Value Percentage than the prior Inventory Appraisal, the prior Inventory Appraisal shall continue to be the Inventory Appraisal utilized for all purposes under this Agreement.
More Definitions of Appraised Value Percentage
Appraised Value Percentage is hereby deleted in its entirety and the following substituted in its stead:
Appraised Value Percentage means with respect to Inventory of any Loan Party, the orderly liquidation value thereof (expressed as a percentage of the Cost of such Inventory) as determined from time to time (and updated at least once in each calendar year) in a manner acceptable to the Administrative Agent by an experienced and reputable independent appraiser acceptable to the Administrative Agent, net of all costs of liquidation thereof; provided that on and after the ASG Joinder Effective Date, with respect to Inventory owned by ASG and TBMC, until such time as such Inventory has been appraised by an experienced and reputable independent appraiser following the Designated Event, the Appraised Value Percentage of such Inventory shall be the same as the then applicable percentage determined in accordance with the definition of “Appraised Value Percentage” for other Inventory of the Loan Parties (as utilized in the most recent Borrowing Base Certificate), net of all costs of liquidation thereof.”
Appraised Value Percentage means the appraised orderly liquidation value, net of costs and expenses to be incurred in connection with any such liquidation, which value is expressed as a percentage of Cost of the Eligible Inventory as set forth in the Loan Parties’ inventory stock ledgers, which value shall be determined from time to time by the most recent appraisal undertaken by an independent appraiser engaged by the Administrative Agent.
Appraised Value Percentage means, with respect to any Mortgaged Rig, a fraction the numerator of which is the Market Value of such Mortgaged Rig as of the date of determination (plus, in the case of a Collateral Disposition not the result of a Total Loss, the amount of any Collateral Disposition Proceeds received in connection with such Collateral Disposition in excess of the Market Value of such Mortgaged Rig disposed of) and the denominator of which is the Collateral Market Value as of the date of determination (plus, in the case of a Collateral Disposition not the result of a Total Loss, the amount of any Collateral Disposition Proceeds received in connection with such Collateral Disposition in excess of the Market Value of such Mortgaged Rig disposed of).
Appraised Value Percentage means, with respect to any Mortgaged Rig, a fraction the numerator of which is the Market Value of such Mortgaged Rig as of the date of determination and the denominator of which is the Collateral Market Value as of the date of determination.
Appraised Value Percentage means (a) with respect to any Mortgaged Revolving Credit Facility Rig affected by a Collateral Disposition, one minus a fraction the numerator of which is the aggregate Market Value of all Mortgaged Revolving Credit Facility Rigs excluding such Mortgaged Revolving Credit Facility Rig affected by a Collateral Disposition as of the date of determination and the denominator of which is the aggregate Market Value of all Mortgaged Revolving Credit Facility Rigs including such Mortgaged Revolving Credit Facility Rig affected by a Collateral Disposition as of the date of determination (which date of determination shall be no later than 30 days after such Collateral Disposition has occurred) and (b) with respect to any Mortgaged Revolving Credit Facility Rig affected by a Casualty Event if the Casualty Proceeds with respect thereto could reasonably be expected to exceed U.S.$5,000,000, one minus a fraction the numerator of which is the aggregate Market Value of all Mortgaged Revolving Credit Facility Rigs reflecting such Casualty Event as of the date of determination and the denominator of which is the aggregate Market Value of all Mortgaged Revolving Credit Facility Rigs prior to the occurrence of the Casualty Event as of the date of determination (which date of determination shall be no later than 30 days after such Casualty Event has occurred).