As-Is Appraised Value definition

As-Is Appraised Value means, with respect to any Property, the “as-is” market value of such Property as reflected in the most recent Appraisal of such Property accepted by Administrative Agent, as the same may have been adjusted by the Administrative Agent based upon its internal review of such Appraisal which is based on criteria and factors then generally used and considered by the Administrative Agent, which review shall be conducted prior to acceptance of such Appraisal by the Administrative Agent.

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As-Is Appraised Value of a Lot or Unit means the value as determined by the most recent Appraisal pertaining to such Lot or Unit.

As-Is Appraised Value means, for any Property at any time, the --------------------- market value of such Property in the condition existing as of the date of the Appraisal establishing its value, as established by an Appraisal conducted (i) prior to the recording of the Deed of Trust encumbering such Property to secure the Obligations or (ii) if a Deed of Trust was recorded pursuant to the Existing Loan Agreement and continues to secure the Obligations, prior to the recording of the Modification Agreement relating to such Deed of Trust. The As-Is Appraised Values for the Properties (other than the Construction Properties) as of the Closing Date are set forth on Schedule 1.1. However, nothing contained ------------ in this Agreement is intended to be, nor should it be construed as, an admission by the Borrower as to the fair cash market value of any Property, or any portion thereof.

Examples of As-Is Appraised Value in a sentence

Notwithstanding anything to the contrary herein, each Lender may conduct Appraisals of any Collateral Property at any time at such Lender’s expense; provided that, for the avoidance of doubt, such Appraisal shall not be used in determining or redetermining the As-Is Appraised Value of a Collateral Property.
The amount of coverage under such policy must equal (i) to the greater of 110% of: (x) the As-Is Appraised Value of such Property (excluding the value of any personal property located at such Property) and (y) the Borrowing Base Value of such Property at such time, if such Property is not located in a Tie-In Jurisdiction or (ii) the Borrowing Base Value of such Property at such time if such Property is located in a Tie-In Jurisdiction.
With respect to any Real Estate that is a Borrowing Base Property included in the calculation of Tranche C Availability, the current As-Is Appraised Value for such Real Estate.
Within ten (10) Business Days of receipt of such Appraisal, the Administrative Agent shall review such Appraisal and shall determine the As-Is Appraised Value of such Property.
If after such review and determination the Administrative Agent remains prepared to recommend acceptance of such Property as a Borrowing Base Property, the Administrative Agent shall forward a copy of such Appraisal to the Lenders together with notice of such As-Is Appraised Value and Administrative Agent’s recommendation as to Borrowing Base Value to be attributed to such Property.
The Agent shall have determined an As-Is Appraised Value or As-Stabilized Appraised Value, as applicable, for any Borrowing Base Properties.
At Agent’s option, with respect to any real estate included in the calculation of Borrowing Base Availability where the most recent Appraisal for such real estate was obtained more than nine (9) months prior to the then effective Maturity Date, Agent shall have obtained at Borrower’s expense new Appraisals or an update to the existing Appraisals of such real estate and determined the current As-Is Appraised Value and As-Stabilized Appraised Value thereof, as applicable, and the Borrowing Base Availability.
If within such sixty (60) day period any Bank disapproves any such Property or the As-Is Appraised Value established for any such Existing Property by giving written notice of such disapproval to the Administrative Agent, the Administrative Agent shall give prompt written notice to the Borrower of such disapproval.
No Limited Partner shall have priority over any other Limited Partner which may be admitted hereunder either as to the return of his original contribution of capital to the Partnership or as to distributions.
Upon such request, the Agent shall, at the Borrower’s expense, order such Appraisals and such Appraisals shall be subject to the review and approval by the Agent, in order to determine the current As-Is Appraised Value or As-Stabilized Appraised Value, as applicable, of the Borrowing Base Properties, and the Borrower shall pay to Agent within ten (10) days of demand all reasonable costs of such Appraisals.

More Definitions of As-Is Appraised Value

As-Is Appraised Value as to any Borrowing Base Property, shall mean, as of any date, the value of such Borrowing Base Property reflected in the Appraisal thereof (prepared on an "as-is" basis) most recently delivered to and approved by the Administrative Agent.

As-Is Appraised Value means the value of the Premises determined on an "as-is" basis pursuant to a Premises Appraisal.

As-Is Appraised Value of a Lot or Unit shall mean the value as determined by the most recent appraisal pertaining to such Lot or Unit, performed by an appraiser approved by the Lender and prepared in accordance with policies and procedures for real estate appraisals supporting extensions of credit by banking institutions subject to regulation by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System or the Federal Deposit Insurance corporation.

As-Is Appraised Value of a Lot or Unit means the value as determined by the most recent Appraisal pertaining to such Lot or Unit. WB/Neighborhoods Second Modified and Restated Loan Agreement