Equipment Appraisal definition

Equipment Appraisal means (a) on the Closing Date and until the first appraisal of Equipment of each Borrower and Foamex Canada is delivered to the Administrative Agent pursuant to Section 5.2(p), the appraisal prepared by Hilco Appraisal Services, LLC dated April 11, 2003 and (b) thereafter, each Equipment Appraisal delivered to the Administrative Agent pursuant to Section 5.2(p).

Equipment Appraisal means a Qualified Appraisal of the Borrowers’ Equipment.

Equipment Appraisal means (a) on the Second Amendment Effectiveness Date, with respect to machinery and equipment, Hilco Valuation Services’ report dated November 18, 2019, or (b) a replacement Equipment appraisal delivered pursuant to Section 6.10 hereof, whichever is in effect as of such date.

Examples of Equipment Appraisal in a sentence

• The Administrative Agent shall promptly forward to each Lender, when complete, copies of any field audit or examination report or Equipment Appraisal, in each case prepared by or for Agent with respect to any Loan Party or Collateral (“Report”).

• The Real Property Appraisal and the Equipment Appraisal shall be conducted in the manner set forth in this Section 1.6. Seller shall hire an appraiser licensed in the State of Tennessee of its own choosing to perform each appraisal and shall cause each appraisal to be prepared and delivered to Buyer within thirty (30) days following the Effective Date.

• Buyer may accept both the Real Property Appraisal and the Equipment Appraisal, reject both the Real Property Appraisal and the Equipment Appraisal, or accept one and reject the other.

• Other than as set forth on SCHEDULE 6.25, the Borrower has not sold any fixed assets reflected in the most recent Equipment Appraisal Report delivered to the Lenders.

• Obligors further certify that (a) the Revolver Commitments and Obligations constitute “ABL Debt” and the facility provided hereunder constitutes an “ABL Facility” under the Convertible Notes Agreement, (b) this Agreement constitutes a “Replacement ABL Agreement” under the Intercreditor Agreement, and (c) all the property described in the June 8, 2012 Equipment Appraisal constitutes “Trucks” for the purposes of the Intercreditor Agreement.

More Definitions of Equipment Appraisal

Equipment Appraisal shall have the meaning set forth in Section 7.4 hereof.

Equipment Appraisal means the most recent appraisal conducted by an independent appraisal firm and delivered pursuant to the definition of “Equipment Formula Amount” or Section 8.03(d).

Equipment Appraisal means, with respect to a Borrower, the most recently delivered appraisal of the Transportation Equipment of such Borrower delivered to the Agents pursuant to Section 10.4.

Equipment Appraisal means the appraisal of the Eligible Equipment of the Borrowers delivered to the Agent specifying the Net Orderly Liquidation Value of such Eligible Equipment and performed by an independent appraiser acceptable to the Agent; if more than one such Equipment Appraisal has been conducted, then the Net Orderly Liquidation Value on any date for the Eligible Equipment of the Borrowers shall be the value determined from the most recent Equipment Appraisal that is conducted pursuant to this Agreement and the report of which is satisfactory to the Agent. The initial Equipment Appraisal shall mean the appraisal of the Eligible Equipment dated as of September 5, 2008 and performed by AccuVal Associates, Incorporated.

Equipment Appraisal set forth in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

Equipment Appraisal is defined in Section 6.2(t) of the Participation Agreement.

Equipment Appraisal means the equipment appraisal delivered to Agent within 120 days after the Closing Date setting forth the Net Orderly Liquidation Value of Equipment and each equipment appraisal in form and substance reasonably satisfactory to Agent delivered to Agent pursuant to Section 5.10.