Conforming Appraisal definition

Conforming Appraisal means an appraisal of market value (i) performed by an appraiser from Lender's approved list of appraisers or otherwise approved by Lender, (ii) complying with then current regulatory requirements applicable to Lender, (iii) conforming with Lender's appraisal requirements for real and personal property substantially similar to the appraised property; and (iv) otherwise acceptable to Lender, in its reasonable discretion.
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Conforming Appraisal means a current appraisal of market value of land (i) performed at Borrower’s expense by an appraiser from Lender’s approved list of appraisers or otherwise approved by Lender (such approval not to be unreasonably withheld or delayed), (ii) complying with then current regulatory requirements applicable to Lender, (iii) conforming to the Uniform Standards of Professional Appraisal (“USPAP”) and the Financial Institutions Reform and Recovery Enforcement Act of 1989 (“FIRREA”) and otherwise conforming with ▇▇▇▇▇▇’s appraisal requirements for real and personal property substantially similar to the appraised property; and (iv) otherwise acceptable to Lender. All third party appraisals of the Mortgaged Land commissioned by ▇▇▇▇▇▇▇▇ and utilized for purposes of establishing the Appraised Value shall either be commissioned expressly for the benefit of (and addressed to) Lender as well as Borrower or expressly identify Lender as an intended user thereof and dated within the last twelve months.
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Conforming Appraisal shall have the meaning set forth in Section 34.2.
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Examples of Conforming Appraisal in a sentence

  • If Tenant fails to timely appoint Tenant's Appraiser, Tenant shall be deemed to have accepted Landlord's Appraiser as the sole and final appraiser for the purpose of determining Fair Market Rental or Fair Market Value, as the case may be, and the Conforming Appraisal of Landlord's Appraiser shall control.

  • Promptly following receipt of such new Conforming Appraisal, Lender shall recalculate the Loan to Value Ratio using the Market Value stated therein (and, if the new Conforming Appraisal does not include all of the Mortgaged Land, previously performed Conforming Appraisals of any such excluded Mortgaged Land), and notify Borrower of the results.

  • At any time following the occurrence of an Appraisal Event, Administrative Agent may (but need not) obtain a new Conforming Appraisal or an update to any existing Conforming Appraisal.

  • In addition, for purposes of establishing the Fair Market Value of any Eligible Real Property, from time to time, Borrowers shall be entitled to submit to Agent a Conforming Appraisal of such Eligible Real Property.

  • Promptly following receipt of such new Conforming Appraisal, Lender shall recalculate the Loan to Value Ratio using such new Conforming Appraisal in the calculation of the Appraised Value, and notify Borrower of the results.

  • If Borrower delivers a Reappraisal Notice, Lender shall, within 120 days after the date of the Reappraisal Notice (or as soon thereafter as practical), obtain a new Conforming Appraisal of that portion thereof specified by Borrower in the Reappraisal Notice at Borrower’s expense.

  • Notwithstanding anything contained in this Section 10.27 to the contrary, Administrative Agent shall have the right, in its sole discretion, to waive any or all of the conditions set forth in clauses (b), (c) and (d) above upon its receipt of a new or updated Conforming Appraisal of the Premises without the Excess Parcel evidencing a Total Loan-to-Value Ratio of not more than 60%.

  • If the results of such Conforming Appraisals differ by five percent (5%) or more of the lower of such results, then Landlord's Appraiser and Tenant's Appraiser shall, within five (5) Business Days of the completion of such Conforming Appraisals, select a third appraiser meeting the requirements of Section 34.3 below (the "Third Appraiser"), which Third Appraiser shall perform a Conforming Appraisal within fifteen (15) Business Days thereafter.

  • The results of such Conforming Appraisal made by Landlord's Appraiser shall thereupon constitute the final determination of Fair Market Rental or Fair Market Value, as the case may be.

  • Borrowers shall be obligated to pay for the first Conforming Appraisal of any parcel of real property, building or improvement requested by Agent or the Requisite Lenders, as applicable; provided, that so long as a Default or Event of Default -------- has not occurred and is continuing, the Borrowers shall only be obligated to pay for additional Conforming Appraisals requested by Agent or the Requisite Lenders of such parcel of real property, building or improvement once in any twelve (12)-month period.


More Definitions of Conforming Appraisal

Conforming Appraisal means an appraisal of the Premises that (i) has been prepared by a state-licensed appraiser approved by Administrative Agent, (ii) sets forth the value of the Premises on both an as-is basis and an as-completed basis (including full completion of the Project), (iii) has been prepared in accordance with all applicable provisions of FIRREA and other applicable law, (iv) has been prepared in accordance with such other standards as Administrative Agent may reasonably require, and (v) is addressed to Administrative Agent and states that it has been prepared for Lender Parties, or for which Administrative Agent has been provided a letter, duly executed by the appraiser, agreeing that Lender Parties are entitled to rely thereon.
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Conforming Appraisal is hereby added to Section 1 of the Loan Agreement. “Conforming Appraisal means a current appraisal of market value of land (i) performed at Borrower’s expense by an appraiser from Lender’s approved list of appraisers or otherwise approved by Lender (such approval not to be unreasonably withheld or delayed), (ii) complying with then current regulatory requirements applicable to Lender, (iii) conforming to the Uniform Standards of Professional Appraisal (“USPAP”) and the Financial Institutions Reform and Recovery Enforcement Act of 1989 (“FIRREA”) and otherwise conforming with ▇▇▇▇▇▇’s appraisal requirements for real and personal property substantially similar to the appraised property; and (iv) otherwise acceptable to Lender. All third party appraisals of the Mortgaged Land commissioned by ▇▇▇▇▇▇▇▇ and utilized for purposes of establishing the Appraised Value shall either be commissioned expressly for the benefit of (and addressed to) Lender as well as Borrower or expressly identify Lender as an intended user thereof and dated within the last twelve months.
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Conforming Appraisal shall have the meaning set forth in SECTION 43.2.
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Related to Conforming Appraisal

  • 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).

  • Inventory Appraisal means the most recent inventory appraisal conducted by ▇▇▇▇▇▇ ▇ or another independent appraisal firm and delivered pursuant to Section 5.07(c) hereof.

  • Updated Appraisal means an Appraisal of the Mortgaged Property or related REO Property, as the case may be, conducted subsequent to any Appraisal performed on or prior to the date of this Agreement by an Appraiser, selected by the applicable Servicer, in accordance with MAI standards, the costs of which shall be paid as a Property Advance by the Lead Securitization Note Holder or applicable Servicer.

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