Draft Appraisal means a short form appraisal, “letter opinion of value,” or any other form of draft appraisal acceptable to Buyer.
Draft Appraisal means a draft appraisal which is acceptable to Buyers.
Draft Appraisal means a short form appraisal, “letter opinion of value”, or any other form of draft appraisal reasonably acceptable to Buyer. “Early Repurchase Date” shall have the meaning specified in Section 3(h) of this Agreement.
Examples of Draft Appraisal in a sentence
If obtained by Seller, an Appraisal or a Draft Appraisal of the related Eligible Property or Properties dated less than twelve (12) months prior to the proposed Purchase Date.
If Xxxxx receives only a Draft Appraisal prior to entering into a Transaction, Seller shall use its best efforts to deliver an Appraisal on or before thirty (30) days after the Purchase Date.
More Definitions of Draft Appraisal
Draft Appraisal means a short form appraisal, “letter opinion of value”, or any other form of draft appraisal acceptable to Buyer. “Early Repurchase Date” shall have the meaning specified in Section 3(i) of this Agreement. “Electronic Signature” shall have the meaning specified in Section 27(f) of this Agreement. “Eligible Assets” shall mean (i) performing Mortgage Loans and Participation Interests (A) acceptable to Buyer in the exercise of its sole discretion, provided that following a determination by Buyer that an asset or loan is an Eligible Asset pursuant to this clause (A). Buyer may not revise such determination as a result of an examination of the same due diligence materials received by it in connection with such initial determination unless any such information was untrue or incorrect as of the time provided, (B) secured directly by an Eligible Property, (C) which have a term equal to or less than ten (10) years (assuming exercise of all extension options), (D) as to which the applicable representations and warranties set forth in Exhibit III are true and correct as of the applicable Purchase Date unless otherwise disclosed in the Exception Report delivered to Buyer on or prior to such Purchase Date, (E) that do not require any Hedging Transaction or have a Hedging Transaction acceptable to Buyer in its sole discretion, (F) that have a maximum LTV not in excess of 80%, (G) that have an original principal balance of not less than $5,000,000, (H) that is not a Defaulted Asset and (I) that are not subject to restrictions on transfer of lender’s interest therein and (ii) such other commercial real estate debt instruments acceptable to Buyer in its sole discretion; in each case, acceptable to Buyer in its sole discretion on a case-by-case basis.