FIRREA Appraisal means an appraisal prepared by an independent third party appraiser approved in writing by the Administrative Agent in its discretion and satisfying the requirements of Title XI of the Federal Institutions, Reform, Recovery and Enforcement Act of 1989 and the regulations promulgated thereunder (as the foregoing are amended, modified, restated, replaced, waived, substituted, supplemented or extended from time to time), as in effect on the date of such appraisal.
FIRREA Appraisal means an appraisal of a Financed Property that is commissioned by the Lender and satisfies the requirement of the Federal Institutions Reform, Recovery and Enforcement Act or is otherwise acceptable to the Lender in its sole discretion.
FIRREA Appraisal means an appraisal of a Financed Property that is commissioned by the Administrative Agent and satisfies the requirement of the Federal Institutions Reform, Recovery and Enforcement Act or is otherwise acceptable to the Administrative Agent in its sole discretion.
Examples of FIRREA Appraisal in a sentence
On or before the Transfer Date for such property, a Qualified FIRREA Appraisal shall have obtained by the Administrative Agent (which the Administrative Agent agrees to commission at the request and expense of the Originator), which appraisals shall have been made as of a date prior to the Transfer Date for such property (but not earlier than 180 days prior to such Transfer Date).
More Definitions of FIRREA Appraisal
FIRREA Appraisal means, with respect to any Property, an appraisal that is (a) prepared by an independent third party appraisal firm that is a member of the Appraisal Institute selected by Administrative Agent, (b) otherwise compliant with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, all other laws applicable to Administrative Agent and Lenders, and the Uniform Standards of Professional Appraisal Practice, and (c) reviewed and accepted by Administrative Agent.
FIRREA Appraisal. An appraisal obtained by Agent at Borrower’s expense and conforming in all respects with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended, 12 USC 1811, and which such appraisal shall be obtained with respect to each Property (i) prior to the making of the first Advance with respect to such Property, in order to determine the Loan to Value Ratio of such Property and (ii) not more than once in any twelve (12) month period thereafter.
FIRREA Appraisal. An appraisal prepared by an independent third–party appraiser approved in writing by the Deal Agent in its reasonable discretion and satisfying the requirements of Title XI of the Federal Institutions, Reform, Recovery and Enforcement Act of 1989 (as supplemented, amended, modified and replaced from time to time) and the regulations promulgated thereunder, as in effect on the date of such appraisal.
FIRREA Appraisal means an appraisal conforming in all respects with the requirements of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, 12 USC 1811, as amended and as the same may be amended from time to time, which appraisal is otherwise satisfactory to the Administrative Agent and is prepared by an appraiser satisfactory to the Administrative Agent at the sole cost and expense of Borrower.
FIRREA Appraisal means an appraisal obtained by Agent at Borrower's expense and conforming in all respects with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, 12 USC 1811, and which such appraisal shall be obtained with respect to each Mortgaged Property (i) prior to the making of the first Advance to fund Permitted Purposes with respect to such Mortgaged Property, in order to determine the Loan to Value Ratio of such Mortgaged Property and (ii) not more than once in any twelve (12) month period thereafter.
FIRREA Appraisal means an appraisal obtained by Agent at Borrower's expense and conforming in all respects with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, 12 USC 1811, and which such appraisal shall be obtained with respect to each Mortgaged Property (i) prior to the making of the first Advance to fund Permitted Purposes with respect to such Mortgaged Property, in order to determine the Loan to Value Ratio of such Mortgaged Property and (ii) not more than once in any twelve (12) month period thereafter. "FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT" has the meaning provided in Section 8.13.
FIRREA Appraisal means an appraisal obtained by Agent at Borrower’s expense and conforming in all respects with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, 12 USC 1811, and which such appraisal shall be obtained with respect to each Mortgaged Property not more than once in any twelve (12) month period thereafter.