MAI Appraisal definition

MAI Appraisal means an appraisal made by a member in good standing of the American Institute of Real Estate Appraisers.

MAI Appraisal means an appraisal conducted by a member of the Appraisal Institute in accordance with the standards of the Appraisal Institute.

MAI Appraisal means with respect to each Facility, an appraisal, in form and substance satisfactory to Purchaser, prepared by an appraiser who is a Member of the Appraisal Institute and is experienced in appraising properties of the same nature, and in the same geographical vicinity, as each Facility.

Examples of MAI Appraisal in a sentence

• Additionally, a reversal or additional reduction shall occur to the extent that the Servicer's Appraisal Estimate is less than or greater than the Appraisal Reduction as adjusted to take into account a subsequent independent MAI Appraisal.

• As of any date of determination, the aggregate value of all Entitled Land Under Development valued on the basis of an “as is”, MAI Appraisal covering at least seventy-five percent (75%) of the remaining Lot portfolio and at least seventy-five percent (75%) of the remaining commercial acreage (both as selected by Agent), with all other Entitled Land Under Development to be valued and included in the Borrowing Base at its book value.

• As of any date of determination, the aggregate value of all Raw Entitled Land valued on the basis of an “as is”, MAI Appraisal covering at least seventy-five percent (75%) of the remaining Lot portfolio and at least seventy-five percent (75%) of the remaining commercial acreage (both as selected by Agent), with all other Raw Entitled Land to be valued at book value.

• During the existence and continuation of an Event of Default, if the most recent MAI Appraisal for any Portfolio Asset is older than one (1) year, then Borrower shall upon Administrative Agent’s request therefor promptly use its best efforts to obtain a current MAI Appraisal for such Portfolio Asset at Borrower’s sole cost and expense.

• Administrative Agent may require Borrower to use its best efforts to obtain updated MAI Appraisals for Portfolio Assets which Borrower has previously delivered MAI Appraisals to Administrative Agent, at Borrower’s sole cost and expense , but if an updated MAI Appraisal is requested for any Portfolio Asset for which an MAI Appraisal is available that is less than one (1) year old, the Administrative Agent and the Lenders shall pay the costs of such requested appraisal.

More Definitions of MAI Appraisal

MAI Appraisal. An appraisal (a) prepared by (i) a Pre-Approved Appraiser or (ii) another appraiser reasonably acceptable to Landlord, (b) that satisfies the requirements of Title XI of the Federal Institution Reform, Recovery and Enforcement Act of 1989 and the regulations promulgated thereunder and (c) otherwise is in form and substance reasonably satisfactory to Landlord and Tenant. If the Parties are unable to agree as to the form and substance of an MAI Appraisal, either Party shall have the right to submit such dispute to expedited arbitration in accordance with the provisions of Section 27.1.

MAI Appraisal. Any appraisal prepared by an Independent member of the Appraisal Institute (who has five years' experience with property types comparable to the property type of the related Mortgaged Property and in the jurisdiction in which the related Mortgaged Property is located) required pursuant to Section 6.13 of the Servicing Agreement.

MAI Appraisal means an appraisal made by an independent qualified appraiser who is a member in good standing of the American Institute of Real Estate Appraisers.

MAI Appraisal means real property appraisal(s) of the value of any Portfolio Asset, determined on a market value basis, performed and prepared, impartially by an independent MAI qualified appraiser(s) that is reasonably acceptable to the Administrative Agent, (provided, however, CB Rxxxxxx Xxxxx and Cxxxxxx & Wxxxxxxxx shall be deemed acceptable for the purposes hereof). Each such MAI Appraisal shall have been prepared in accordance with the Uniform Standards of Professional Appraisal Practice and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. Mandatory Prepayments as defined in Section 2.3.10(b)(i).

MAI Appraisal means an appraisal made by an MAI Appraiser.

MAI Appraisal means an appraisal, in form and substance satisfactory to Purchaser, prepared by an appraiser who is a Member of the Appraisal Institute and is experienced in appraising properties of the same nature, and in the same geographical vicinity, as the Facilities.

MAI Appraisal means an MAI Appraisal performed by an appraiser satisfactory to the Lender and Collateral Agent, which appraisal shall be in form and substance satisfactory to Lender and Collateral Agent.