Forced Liquidation Value definition

Forced Liquidation Value means, with respect to any of the Borrowers’ Rig Fleet Equipment, as of any date, the sum of (i) the cash amount estimated to be recoverable in a forced liquidation sale of such Rig Fleet Equipment, net of all associated costs and expenses of such sale, as determined by reference to the most recent appraisal obtained by the Administrative Agent with respect to such Rig Fleet Equipment (for the avoidance of doubt, if values for particular items of Rig Fleet Equipment are not specifically itemized, then such values shall be as determined by the Administrative Agent by reference to such appraisal) minus (ii) the net forced liquidation value reflected in such appraisal for any of such Rig Fleet Equipment sold or otherwise disposed of since the date of such appraisal (for the avoidance of doubt, if values for particular items of Rig Fleet Equipment are not specifically itemized, then such values shall be as determined by the Administrative Agent by reference to such appraisal).

Forced Liquidation Value means, with respect to any Equipment, the "forced liquidation value" of such Equipment as determined by the most recent appraisal performed by or at the request of the Agent, by an Acceptable Appraiser.

Forced Liquidation Value means the amount estimated by Weir International, Darco Energy Management Corporation – Pikeville, Ky., or any other nationally recognized appraisal firm acceptable to the Requisite Lenders in their sole discretion which is the most probable price expressed in terms of currency in Dollars which the subject underground and surface mobile equipment and fixtures (excluding prep plants and mineral reserves) constituting Term Loan Collateral owned by the Credit Parties could typically realize at a properly advertised and conducted public auction sale, held under forced sale conditions, with the seller obligated to

Examples of Forced Liquidation Value in a sentence

• Eligible Real Estate of any Borrower shall be that real estate and improvements thereon that Agent has specifically identified and approved in writing and as to which, following an independent appraisal thereof, Agent has assigned an Appraised Forced Liquidation Value and to which none of the criteria below applies.

• So long as no Event of Default has occurred and is continuing, the second Term Loan shall be made not sooner than the first Term Loan may be made and not later than the first anniversary of this Agreement and only upon the receipt by Silicon of a Forced Liquidation Value Equipment Appraisal acceptable to Silicon supporting the amount of the second Term Loan requested, up to but not exceeding $500,000.00.

• The Net Forced Liquidation Value of any additional Eligible Equipment or the appraised fair market value of any additional Eligible Real Property shall be included in the calculation of the Fixed Asset Loan Value of the US Borrower that owns such Eligible Equipment or Eligible Real Property and the Agent shall correspondingly amend Schedule 1.14 without any further action of any party hereto.

• The parties hereto hereby acknowledge and agree that Creditor engaged Lxxxxx Financial Economic Advisory Services (the “Economist”) to determine the Fair Market Forced Liquidation Value of Debtor and that Economist did determine the total assets (excluding cash) of Debtor to be Four Million One Hundred Thousand Dollars ($4,100,000) as set forth in that certain Forced Liquidation Valuation, dated as of October 31, 2007, issued on November 15, 2007 and attached hereto as Exhibit A.

• Forced Liquidation Value In order to assess the Liquidation Value of the subject asset, The fair market Value of the asset is computed first on the basis of the information given by the company and physical verification of the inventory and fixed assets and then by applying suitable discounts, aforesaid LiquidationValues are obtained.l.Details of the sources from where the information is gathered on prevailing market Rate/ Price trend ofthe property (from property search sites & local information)1.

More Definitions of Forced Liquidation Value

Forced Liquidation Value means the amount estimated by Weir International, Darco Energy Management Corporation – Pikeville, Ky., or any other nationally recognized appraisal firm acceptable to the Requisite Lenders in their sole discretion which is the most probable price expressed in terms of currency in Dollars which the subject underground and surface mobile equipment and fixtures (excluding prep plants and mineral reserves) constituting Term Loan Collateral owned by the Credit Parties could typically realize at a properly advertised and conducted public auction sale, held under forced sale conditions, with the seller obligated to sell, and under present day economic trends, as of the effective date of the appraisal report, such report to be in form and substance satisfactory to the Administrative Agent.

Forced Liquidation Value has the meaning stated in the definition of "Borrowing Base".

Forced Liquidation Value means, as of any date, the forced liquidation value of the Rig Fleet Equipment as determined by the most recent FLV Appraisal, such figure to be adjusted monthly on the first day of each calendar month after the delivery of such FLV Appraisal to equal the sum of the Forced Liquidation Value for the immediately preceding period plus one hundred percent (100%) of the cost reflected on the invoice (as provided to Agent) of Rig Fleet Equipment purchased or otherwise acquired by Borrower since the most recent determination, minus the Forced Liquidation Value of any Rig Fleet Equipment sold or otherwise disposed of since the most recent determination.

Forced Liquidation Value means, with respect to any of the Borrowers’ Rig Fleet Equipment, as of any date, the sum of (i) the cash amount estimated to be recoverable in a forced liquidation sale of such Rig Fleet Equipment, net of all associated costs and expenses of such sale, as determined by reference to the most recent appraisal obtained by the Administrative Agent with respect to such Rig Fleet Equipment (for the avoidance of doubt, if values for particular items of Rig Fleet Equipment are not specifically itemized, then such values shall be as determined by the Administrative Agent by reference to such appraisal) minus (ii) the net forced liquidation value reflected in such appraisal for any of such Rig Fleet Equipment sold or otherwise disposed of since the date of such appraisal (for the avoidance of doubt, if values for particular items of Rig Fleet Equipment are not specifically itemized, then such values shall be as determined by the Administrative Agent by reference to such appraisal). “Funding Accounts” has the meaning assigned to such term in Section 4.01(c). “GAAP” means generally accepted accounting principles set forth in opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant segment of the accounting profession, in each case as the same are applicable to the circumstances as of the date of determination.

Forced Liquidation Value shall have the meaning specified in the Equipment Appraisal.

Forced Liquidation Value. LC Subfacility", "LIBOR Rate", "LIBOR Rate Borrowing", "Permitted Intercompany Guaranty", "Real Property Sublimit", "Reserve Requirement", "TARGET Settlement Date", "Type" are deleted.

Forced Liquidation Value means, as to any Eligible M&E, the estimated most probable price of such Eligible M&E typically realized at a properly advertised and conducted public auction sale held under forced sale conditions with all such assets being sold on a piecemeal basis "as is, where is" and with the purchaser being responsible for removal of the asset.