Vessel Appraisal definition

Vessel Appraisal means a written desktop appraisal of each Collateral Vessel delivered to the Administrative Agent and the Collateral Agent, in form, scope and methodology reasonably acceptable to the Collateral Agent and prepared by an Approved Broker, addressed to the Collateral Agent and upon which the Administrative Agent, the Collateral Agent and the Lenders are expressly permitted to rely.
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Vessel Appraisal means a written desktop appraisal of the fair market value of each Collateral Vessel or Additional Vessel delivered to the Administrative Agent and the Collateral Agent, in form, scope and methodology reasonably acceptable to the Collateral Agent and prepared by an Approved Broker selected by the Borrower on the basis of a charter-free arm’s-length transaction between a willing and able buyer and seller not under duress, addressed to the Collateral Agent and upon which the Administrative Agent, the Collateral Agent and the Lenders are expressly permitted to rely.
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Vessel Appraisal means a written appraisal of the Eligible Vessels delivered to Agent, in form, scope and methodology reasonably acceptable to Agent in good faith and by an appraiser reasonably acceptable to Agent, addressed to Agent and upon which Agent and Lenders are expressly permitted to rely.
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Examples of Vessel Appraisal in a sentence

  • On the date of each Credit Extension and immediately after giving effect to the Loans incurred on such date, the Borrower shall be in compliance with Section 6.10(d), based on the most recent applicable Vessel Appraisal Value.

  • For purposes of clause (b) of the preceding sentence, the Fair Market Value of a Collateral Vessel at any time shall be as set forth in the Vessel Appraisal most recently delivered to the Administrative Agent pursuant to this Agreement from one (or, if requested by the Administrative Agent, two) Approved Brokers and determined on the basis of a charter-free arm’s length transaction between a willing and able buyer and a seller not under duress.

  • Agent and Security Trustee shall promptly, upon receipt thereof, forward to each Lender copies of the results of any field audit, examination, appraisal or Vessel Appraisal prepared by or on behalf of Agent or Security Trustee with respect to any Obligor or Collateral (“Report”).

  • On the Fourth Amendment Effective Date and immediately after giving effect to the Loans incurred on such date, the Borrower shall be in compliance with Sections 6.10(d), based on the most recent applicable Vessel Appraisal Value.

  • On the Second Amendment Effective Date and immediately after giving effect to the Loans incurred on such date, the Borrower shall be in compliance with Section 6.10(d), based on the most recent applicable Vessel Appraisal Value.

  • On as of each Credit Extension and immediately after giving effect to the Loans incurred on such date, the Borrower shall be in compliance with Sections 6.10(d), based on the most recent applicable Vessel Appraisal Value.

  • For purposes of this Section 6.10, the Fair Market Value of a Collateral Vessel at any time shall be as set forth in the Vessel Appraisal most recently delivered to the Administrative Agent pursuant to this Agreement from one (or, if requested by the Administrative Agent, two) Approved Brokers and determined on the basis of a charter-free arm’s length transaction between a willing and able buyer and a seller not under duress.

  • The Solent might offer a facility to service the Navitus Bay array, but also support other marine technology installations located on both sides of the channel.There may also be different requirements for Operation and Maintenance.

  • Vessel Appraisal: a written appraisal of the Eligible Vessels delivered to Agent, in form, scope and methodology, and by an appraiser, reasonably acceptable to Agent, addressed to Agent and upon which Agent and Lenders are expressly permitted to rely.

  • The Administrative Agent shall have received a recent Vessel Appraisal of each Collateral Vessel prepared by two Approved Brokers selected by the Borrower in form, scope and methodology reasonably acceptable to the Collateral Agent, addressed to the Collateral Agent and upon which the Administrative Agent, the Collateral Agent and the Lenders are expressly permitted to rely; provided that the Closing Date Appraisals shall be deemed to be acceptable for this purpose.


More Definitions of Vessel Appraisal

Vessel Appraisal means a written desktop appraisal of each Collateral Vessel prepared by an Approved Broker. “Vessels” shall mean the vessels owned by the Issuer or any Restricted Party.
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Vessel Appraisal means a written appraisal of the Eligible ABL Priority Collateral Vessels delivered to the Collateral Agent, each of which appraisals shall consist of a written physical walk-around valuation (conducted in a fashion typical for such type of valuation and understood to exclude tank entry) or desktop appraisal (at the discretion of the Administrative Agent or the Collateral Agent) of each ABL Priority Collateral Vessel delivered to the Administrative Agent and the Collateral Agent, in form, scope and methodology reasonably acceptable to the Collateral Agent in its Permitted Discretion and prepared by an Approved Broker, addressed to the Collateral Agent and upon which the Administrative Agent, the Collateral Agent and the Lenders are expressly permitted to rely.
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Vessel Appraisal means an appraisal of the Collateral consisting of the Vessels, to be conducted by an Approved Appraiser, at the sole cost and expense of the Borrowers.
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Vessel Appraisal means a written appraisal of the Eligible Vessels delivered to Agent, in form, scope and methodology reasonably acceptable to Agent in good faith and by an appraiser reasonably acceptable to Agent, addressed to Agent and upon which Agent and Lenders are expressly permitted to rely. For purposes of this Agreement, except to the extent that circumstances or conditions may hereafter change that make appropriate any change in the form, scope or methodology of appraisals as Agent may determine in good faith, a desktop appraisal update conducted by Xxxxxx, Xxxxxx & Xxxxxxx, Inc. in alternate years subsequent to the recent appraisal (i.e. years 1, 3, 5, etc), with inspections in each other year (2, 4, etc.) of a representative sample of the fleet consisting of approximately 15% of the boats, 7.5% of the tankers, 5% of the dry cargo barges, and a brief walk-around of several of the fleet facilities, shall be acceptable to Agent.
Sample 1
Vessel Appraisal means a written desktop appraisal of each Collateral Vessel prepared by an Approved Broker.
Sample 1

Related to Vessel Appraisal

  • Acceptable Appraisal means, with respect to an appraisal of Inventory, the most recent appraisal of such property received by Agent (a) from an appraisal company satisfactory to Agent, (b) the scope and methodology (including, to the extent relevant, any sampling procedure employed by such appraisal company) of which are satisfactory to Agent, and (c) the results of which are satisfactory to Agent, in each case, in Agent’s Permitted Discretion.

  • Current Appraisal With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its own expense from an independent appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Company as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Company's customary requirements for such appraisals. Election to Delay Foreclosure: Any election by the Purchaser to delay the Commencement of Foreclosure, made in accordance with Section 2.02(b).

  • Updated Appraisal means an Appraisal of the Mortgaged Property or related REO Property, as the case may be, conducted subsequent to any Appraisal performed on or prior to the date of this Agreement by an Appraiser, selected by the applicable Servicer, in accordance with MAI standards, the costs of which shall be paid as a Property Advance by the Lead Securitization Note Holder or applicable Servicer.

  • Inventory Appraisal means (a) on the Closing Date, the appraisal prepared by Great American Group dated June 2007 and (b) thereafter, the most recent inventory appraisal conducted by an independent appraisal firm pursuant to Section 9.2(b).

  • Required Appraisal means, with respect to each Required Appraisal Loan, an appraisal of the related Mortgaged Property from an Independent Appraiser selected by the party required or authorized to obtain such appraisal hereunder, which appraisal shall be prepared in accordance with 12 CFR ss. 225.62 and conducted in accordance with the standards of the Appraisal Institute or, in the case of a Required Appraisal Loan having a Stated Principal Balance of, or in the case of a Mortgaged Property that has an allocated loan amount of, less than $2,000,000, if no satisfactory (as determined by the Special Servicer pursuant to Section 3.09(a)) appraisal meeting the foregoing criteria was obtained or conducted within the prior 12 months, a "desktop" value estimate performed by the Special Servicer.

  • Appraisal shall have the meaning assigned to such term in the Servicing Agreement.

  • Control Appraisal Period shall exist with respect to the Mortgage Loan, if and for so long as:

  • Mortgaged Vessel means, at any relevant time, any Vessel which is at such time subject to a Mortgage and a Vessel shall, for the purposes of this Agreement, be regarded as a Mortgaged Vessel as from the date on which the Mortgage of that Vessel has been executed and registered in accordance with this Agreement until whichever shall be the earlier of (i) the payment in full of the amount required to be paid to the Agent pursuant to clause 4.3 or 4.5 following the Total Loss or sale respectively of such Vessel and (ii) the end of the Facility Period;

  • Approved Appraisal Firm Each of the following firms: Xxxxxxxx Xxxxx, Inc., Duff & Xxxxxx LLC, Lincoln Advisors, Xxxxxx, Xxxxxx and Company and Valuation Research Corporation and (b) each Independent financial adviser of recognized standing retained by the Issuer, the Collateral Manager or the agent or lenders under any Collateral Obligation, as approved by the Collateral Manager.

  • Mortgaged Ship means a Ship which is subject to a Mortgage at the relevant time and, in the plural, means all of them;

  • PPRA wherever appearing means The Public Procurement Regulatory Authority or its successor(s) and assign(s) where the context so admits.

  • Independent Appraiser means a nationally recognized or major regional investment banking firm or firm of independent certified public accountants of recognized standing (which may be the firm that regularly examines the financial statements of the Issuer) that is regularly engaged in the business of appraising the Capital Stock or assets of corporations or other entities as going concerns, and which is not affiliated with either the Issuer or the Holder of any Warrant.

  • Required Appraisal Loan As defined in Section 3.19(a).

  • Conversion Valuation Appraisal Report Page: 1 - 3 ================================================================================

  • FIRREA means the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended.

  • Independent Engineering Report means a report, in form and substance satisfactory to the Administrative Agent and each of the Lenders, prepared by an Independent Engineer, addressed to the Administrative Agent and the Lenders with respect to the Oil and Gas Properties owned by the Borrower or its Subsidiaries (or to be acquired by the Borrower or any of its Subsidiaries, as applicable) which are or are to be included in the Borrowing Base, which report shall (a) specify the location, quantity, and type of the estimated Proven Reserves attributable to such Oil and Gas Properties, (b) contain a projection of the rate of production of such Oil and Gas Properties, (c) contain an estimate of the net operating revenues to be derived from the production and sale of Hydrocarbons from such Proven Reserves based on product price and cost escalation assumptions specified by the Administrative Agent and the Lenders, and (d) contain such other information as is customarily obtained from and provided in such reports or is otherwise reasonably requested by the Administrative Agent or any Lender.

  • Approved Appraiser means any of the following: Xxxxx Xxxxxxxx Xxxxxx, Xxxxx, H Xxxxxxxx & Co. Ltd., London, X.X. Xxxxxx Shipbrokers, Norway, or Fearnley AS, Norway.

  • Appraisal Report A report setting forth the fair market value of a Mortgaged Property as determined by an appraiser who, at the time the appraisal was conducted, met the minimum qualifications of FNMA and FHLMC for appraisers of conventional residential mortgage loans.

  • Appraisal Well means a Well drilled pursuant to an Appraisal Programme.

  • Independent Engineer means XxXxxxxx and XxxXxxxxxxx or any other third party engineering firm acceptable to the Administrative Agent in its sole discretion.

  • Appraisal review means the act or process of developing

  • Fleet Vessels means all of the vessels (including, but not limited to, the Ships) from time to time wholly owned by members of the Group (each a “Fleet Vessel”);

  • Uniform Standards of Professional Appraisal Practice means the current standards of the appraisal profession, developed for appraisers and users of appraisal services by the Appraisal Standards Board of the Appraisal Foundation.

  • Approved Third-Party Appraiser means each of (a) Xxxxxx, Xxxxxx & Co., (b) Xxxxxxxx Xxxxx Xxxxxx & Xxxxx Inc., (c) Lincoln International LLC (formerly known as Lincoln Partners LLC), (d) Duff & Xxxxxx Corporation, (e) Valuation Research Corporation, (f) Xxxxxxx & Xxxxxx, (g) Xxxxxx Xxxxxxxxx and (h) any other third party appraiser selected by the Borrower in its reasonable discretion.

  • Approved Valuer means a firm of valuers recognized as such by the Income Tax Department and having experience of valuing at least 5 (five) properties exceeding Rs. 100 cr. (Rupees one hundred crore) each in value;

  • CREFC® Appraisal Reduction Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Appraisal Reduction Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.