Vessel Value definition

Vessel Value shall have the meaning set forth in Section 10.08.
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Vessel Value of a particular vessel means the fair market value of such vessel which shall be conclusively determined by one Approved Shipbroker selected by the Corporation, which written determination may be no more than three (3) Business Days old and may be made with or without physical inspection of such vessel, on the basis of a sale for prompt delivery for cash on normal arm's length commercial terms as between a willing seller and a willing buyer free of any existing charter or any other contract of employment in respect of such vessel; and after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale.]36
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Vessel Value means, with respect to each Vessel, the aggregate contract price for the acquisition or construction of such Vessel (or the acquisition of the Capital Stock of any Person owning such Vessel), as applicable, plus any Ready for Sea Cost with respect to such Vessel.
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Examples of Vessel Value in a sentence

  • Commenter indicatesthere is a decrease of 86% in the cumulative ex-vessel value for the Ventura Harbor when comparing the study area totals for ex-vessel value by port in Table 17 (Commercial Fishing: Study Area Totals Ex Vessel Value by Port) to Table 27 (Commercial Fishing— Alternative 1 Study Area Totals, Ex Vessel Value by Port)Response: The two tables are notshowing the same estimate.

  • Exxon Mobil stated that: …incentives could be provided in the petroleum and gas sector as a whole, but not on a project specific basis.9 In particular, Exxon Mobil argued for the need for incentives to encourage high cost exploration.

  • Vessel Value: A - Southeast E - Prince William Sound H - Cook Inlet K - Kodiak L - Chignik M - Peninsula/Aleutians14.

  • Consequently, they have sought assurance that all employer responsibilities in respect of staff transfers and more general consultation requirements are met.

  • General Average•Calculations• Voyage Value = Vessel Value + Total Cargo Value• Shipper Participation = % of shipper cargo to Total Cargo Value• Voyage Loss is determined• Shipper Participation is applied to Voyage Loss• Shipper Participation is submitted in form of a security deposit.• Release of cargo can not be obtained until Security Deposit has been received.• Release of cargo can take between 6 months and 2 years.

  • Therefore, by launching Vessel Value Derivatives in the vessel trading market, we manage to confine asset-price risk arising by the uncertainty of the market.

  • All the other ports would potentially lose well under 1% in ex vessel revenue.Table 2.2 Commercial Fishing & Kelp: Impacts of Alternative 1 on Ex Vessel Value by Port - Step 1 AnalysisState Waters Federal Waters TotalPort Value % 1 Value % Value %1.

  • The use of Vessel Value Derivatives An important cause of concern for ship owners and shipping companies is the vessel’s price instability.

  • Consequently, Vessel Value Derivatives were created by the Baltic Exchange in collaboration with Clarksons Securities Limited with a view to exploit the notorious shipping cycles (up- and down-turns) and diminish the vessel market fluctuations.

  • Excess Harvesting Capacity Assessment and Ex- Vessel Value by Fishery, 2004183.


More Definitions of Vessel Value

Vessel Value means, in respect of a Continuing Vessel, the fair market value of the Vessel determined at any such time as the Lender may select, however, if no Event of Default has occurred and is continuing only twice annually, as the average of the valuations provided by two independent sale and purchase shipbrokers appointed by the Lender from among the shipbrokers listed on Schedule 14, such valuations to be made with or without physical inspection of the Vessel (as the Lender may reasonably require), on the basis of a sale for prompt delivery for cash at arm’s length on normal commercial terms as between a willing seller and a willing buyer and on an “as is where is” basis free of any existing charter or other contract of employment, for use in the parcel tanker trade. One appraisal per year shall be paid for by the Borrower.
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Vessel Value means, with respect to each Vessel or group of Vessels, (i) with respect to the acquisition or construction of any such Vessel or group of Vessels, the aggregate contract price for the acquisition or construction of such Vessel or group of Vessels (or the acquisition of the Equity Interests of any Person the assets of which primarily consist of such Vessel or group of Vessels), as applicable, plus any Ready for Sea Costs with respect to such Vessel or group of Vessels and (ii) with respect to the refurbishment of any such Vessel or group of Vessels, the greater of (a) the Appraised Value of such Vessel or group of Vessels and (b) the fully built-up cost of such Vessel or group of Vessels; in each case immediately after completion of such refurbishment.
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Vessel Value means the (a) greatest of (i) Closing Date FMV, (ii) DCF Plus Residual FMV, and (iii) Proceeds, less (b) Transfer Costs.
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Vessel Value means, in respect of a Mortgaged Ship, the value most recently attributed to that Mortgaged Ship as most recently determined pursuant to valuations undertaken in accordance with clause 25 (Minimum security value) and Vessel Values means the aggregate of the valuations of all the Mortgaged Ships.
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Related to Vessel Value

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • Retail value of a prize means:

  • Appraised Value The value set forth in an appraisal made in connection with the origination of the related Mortgage Loan as the value of the Mortgaged Property.

  • Worst Value means, in respect of a ST Valuation Date, the RI Value for the Reference Item(s) with the lowest or equal lowest RI Value for any Reference Item in the Basket in respect of such ST Valuation Date.

  • Portfolio Value means the aggregate amount of portfolio of investments including cash balance without netting off of leverage undertaken by the CDMDF.

  • Casualty Value means the market value of the Equipment at the end of the Term or when in relation to a Total Loss, the market value the Equipment would have had at the end of the Term but for the Total Loss. The Casualty Value may be less than but will not be more than the original purchase price of the Equipment.

  • RI Initial Value means, in respect of a Reference Item, the Initial Closing Price.

  • Total Value means either the fair market value or the actual price paid for a covered animal part or product, whichever is greater.

  • RI Value means, in respect of a Reference Item and a ST Valuation Date, (i) the RI Closing Value for such Reference Item in respect of such ST Valuation Date, divided by (ii) the relevant RI Initial Value (expressed as a percentage).

  • Original Value The lesser of (a) the Appraised Value of a Mortgaged Property at the time the related Mortgage Loan was originated and (b) if the Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the purchase price paid for the Mortgaged Property by the Mortgagor at the time the related Mortgage Loan was originated.

  • Baseline Value for each of the Company and the Peer Companies means the dollar amount representing the average of the Fair Market Value of one share of common stock of such company over the five consecutive trading days ending on, and including, the Effective Date.

  • Land Value means, at any time:-

  • emission limit value means the mass, expressed in terms of certain specific parameters, concentration and/or level of an emission, which may not be exceeded during one or more periods of time;

  • Best Value means the method by which a proposal/contract, if any, is awarded, in accordance with applicable laws, rules, and regulations. Best Value includes multiple parameters, including experience, references, quality of the Vendor's product(s)/service(s), and price, as detailed in Section 6.0 Evaluation and Award.

  • Initial Valuation means, when used with reference to specified Collateral, the Valuation initially performed for the Collateral as of the date on which the Collateral was added to the Collateral Pool. The Initial Valuation for each of the Initial Mortgaged Properties is as set forth in Exhibit A to the Agreement.

  • Stored value means monetary value that is evidenced by an electronic record.

  • rand value means the total estimated value of a contract in Rand, calculated at the time of bid invitation, and includes all applicable taxes;

  • Property Value means the aggregate fair value of the properties (land and buildings) held by the Group according to the latest consolidated Financial Report, adjusted for any investments in and depreciations of the properties, respectively, during the period starting on the day falling immediately after the last day of the period covered by the latest consolidated Financial Report and ending on the relevant Record Date.

  • Good Value means that the Benchmarked Rates are within the Upper Quartile;

  • Salvage value means the amount received for property retired, less any expenses incurred in connection with the sale or in preparing the property for sale, or, if retained, the amount at which the material recoverable is chargeable to materials and supplies, or other appropriate account.

  • Capitalization Value means, at any time, the sum of (1) with respect to Real Property Businesses (other than UJVs), individually determined, the greater of (x) Combined EBITDA from such businesses (a) in the case of all Real Property Businesses other than hotels or trade show space, for the most recently ended calendar quarter, annualized (i.e., multiplied by four), and (b) in the case of hotels or trade show space, for the most recently ended four consecutive calendar quarters, in both cases, capitalized at a rate of 6.0% per annum, and (y) the Gross Book Value of such businesses; (2) with respect to Other Investments, which do not have publicly traded shares, the Net Equity Value of such Other Investments; (3) with respect to Real Property UJVs, which do not have publicly traded shares, individually determined, the greater of (x) Combined EBITDA from such Real Property UJVs (a) in the case of all Real Property UJVs other than those owning hotels or trade show space, for the most recently ended calendar quarter, annualized (i.e., multiplied by four), and (b) in the case of Real Property UJVs owning hotels or trade show space, for the most recently ended four consecutive calendar quarters, in both cases, capitalized at the rate of 6.0%, less Borrower’s Pro Rata Share of any Indebtedness attributable to such Real Property UJVs, and (y) the Net Equity Value of such Real Property UJVs (subject to the last sentence of this definition); and (4) without duplication, Borrower’s Pro Rata Share of Unrestricted Cash and Cash Equivalents, the book value of notes and mortgage loans receivable and capitalized development costs (exclusive of tenant improvements and tenant leasing commission costs), and the fair market value of publicly traded securities, at such time, all as determined in accordance with GAAP. For clarity, the parties acknowledge and agree that the calculations pursuant to clause (1)(x) and (y) and clause (3)(x) and (y) above in this definition are intended to be made on a Real-Property-Asset-by-Real-Property-Asset basis. For the purposes of this definition, (1) for any Disposition of Real Property Assets by a Real Property Business during any calendar quarter, Combined EBITDA will be reduced by actual Combined EBITDA generated from such asset or assets, (2) the aggregate contribution to Capitalization Value in excess of 35% of the total Capitalization Value from all Real Property Businesses and Other Investments owned by UJVs shall not be included in Capitalization Value, and (3) the aggregate contribution to Capitalization Value from leasing commissions and management and development fees in excess of 15% of Combined EBITDA shall not be included in Capitalization Value. To the extent that liabilities of a Real Property UJV are Recourse to Borrower or the General Partner, then for purposes of clause (3)(y) above, the Net Equity Value of such Real Property UJV shall not be reduced by such Recourse liabilities.

  • Initial Value has the meaning set forth in Section 1.76(a).

  • Unencumbered Liquid Assets means cash, cash equivalents and/or publicly traded/quoted marketable securities acceptable to Bank in its sole discretion, free of any lien or other encumbrance. Account assets held in a fiduciary capacity by Borrower shall not qualify as Unencumbered Liquid Assets.

  • Per Share Fair Market Value has the meaning set forth in Section 13(C).

  • Current Value shall have the meaning set forth in Section 11(a)(iii) hereof.

  • SPS AER Value means the Underlying Reference Value.