Fleet Market Value definition

Fleet Market Value means, at the date of calculation, the aggregate of the fair market value of the Sub-Charterers’ Guarantor’s Group’s owned fleet as determined by the Approved Mortgagee;

Fleet Market Value means, as of the date of calculation, the aggregate market value of the Fleet Vessels as most recently determined pursuant to valuations obtained and made in accordance with clause 5.1.5 of this Guarantee and the provisions of clause 9.2.2 of the Agreement (at the cost of the Guarantor) (and for the purposes of this Guarantee and the calculation of Fleet Market Value, such clause 9.2.2 shall apply to this Guarantee mutatis mutandis);

Fleet Market Value means, as of the date of calculation, the aggregate market value of:

Examples of Fleet Market Value in a sentence

• With respect to the calculations described in the foregoing clause (iii), such report shall make the comparison described with respect to the Non-Program Fleet Market Value only as of the last Determination Date in the period as to which the report is made.

• In connection with a drawdown under this Agreement, the valuations collected to establish the Fleet Market Value shall not be older than 6 months.

• If the Fleet Market Value is above 300% of the aggregate outstanding Loans under this Agreement following a sale or Total Loss, no prepayment shall be required.

• The Fleet Market Value, including a breakdown of each Vessel’s Market Value shall be determined and reported annually to the Agent (on behalf of the Finance Parties) and additional valuations in connection with sale or substitution of Vessels shall be obtained by Borrower as necessary to assure that all determinations of compliance herewith that use Fleet Market Value shall be determined using valuations completed not more than six months prior to the date of determination of such compliance.

• If the Fleet Market Value is above 200% of the aggregate outstanding Loans under this Agreement following a sale or Total Loss, no prepayment shall be required.

More Definitions of Fleet Market Value

Fleet Market Value means the aggregate Fair Market Value of the Fleet Vessels.

Fleet Market Value means the value of a Fleet Vessel conclusively determined by the arithmetic average of two valuations obtained by two Approved Shipbrokers selected and appointed by the Borrower on behalf of the Lender and approved by and reporting to the Lender on the basis of a charter free sale for prompt delivery and free of encumbrances for cash at arm’s length on normal commercial terms as between a willing seller and a willing buyer and evidenced by two valuations of that Fleet Vessel addressed to the Lender certifying a value for that Fleet Vessel.

Fleet Market Value means the aggregate Market Value of the Vessels based on the most recent valuations.

Fleet Market Value means at the date of calculation the aggregate of the Market Values of the Fleet Vessels;

Fleet Market Value has the meaning given to that term in clause 22.1 (Financial definitions).

Fleet Market Value means, at the date of calculation, the aggregate of the values of each of the Owned Ships as last determined in accordance with clause 23.37 (Valuation of Owned Ships).

Fleet Market Value has the meaning given to that term in clause 8.6;