Appraised Values definition
Examples of Appraised Values in a sentence
Upon the final determination of the new Appraised Values for the remaining Borrowing Base Properties, the Administrative Agent shall release any amount of such Net Cash Proceeds to which the Borrower may be entitled pursuant to the proviso set forth above.
If the two Initial Appraised Values differ from each other by more than 10% (based on the lower Initial Appraised Value), then the two initial Appraisers shall, within five (5) Business Days following such calculation, jointly select a third Appraiser.
Within twenty one (21) days after the selection of such third Appraiser, such third Appraiser shall determine the Fair Market Value of such Units as of the date of notice of any sale or issuance requiring such determination of Fair Market Value, as applicable (the “Subsequent Appraised Value”), which Subsequent Appraised Value shall not be more than the greater of the two Initial Appraised Values nor less than the lower of the two Initial Appraised Values.
If the two Initial Appraised Values differ from each other by 10% or less (based on the lower Initial Appraised Value), then the Fair Market Value of such Units shall be deemed to be the average of such Initial Appraised Values.
If the higher of the Appraised Values is more than 25% higher than the lower of the Appraised Values, than the parties shall appoint a third independent appraiser who shall, within thirty (30) days following receipt of the Appraised Values, select one of the two Appraised Values as the Fair Market Value per share which is closest to the Fair Market Value per share determined by such third party appraiser (the “Third Party Determination”).
If the higher of the Appraised Values is more than 25% higher than the lower of the Appraised Values, then the parties shall appoint a third independent appraiser who shall, within thirty (30) days following receipt of the Appraised Values, select one of the two Appraised Values as the Fair Market Value per share which is closest to the Fair Market Value per share determined by such third party appraiser (the “Third Party Determination”).
If the higher of the Appraised Values is not more than 25% higher than the lower of the Appraised Values, then the Fair Market Value per share will be the average of the two Appraised Values.
For purposes of this Section 5.03, the “Purchase Price” for the Affected Interest shall be (A) such amount as may be agreed upon by the Members, or (B) absent such agreement, an amount equal to the average of the two Appraised Values that are closest in amount to each other.
If the higher of the Appraised Values with respect to the Preferred Stock or the Common Stock is not more than 25% higher than the lower of the Appraised Values for the Preferred Stock and/or the Common Stock, as applicable, then the Fair Market Value per share will be the average of the two Appraised Values for the Preferred Stock and/or Common Stock, as applicable.
Borrower acknowledges and agrees that modification to the Appraisal Policies of Administrative Agent may result in requirements to modify the Appraisals, Appraised Values and appraisers, which modifications shall be at Borrower’s sole cost and expense; provided, however, if Borrower paid for the applicable Appraisal within the previous twelve (12) months, all costs and expenses incurred in connection with such modification shall be at Administrative Agent’s sole cost and expense.