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 has the meaning stated in the definition of "Borrowing Base".
Examples of Forced Liquidation Value in a sentence
Levy concluded that the Error Coins would have a Forced Liquidation Value of $10,401,600.
Ensure the governing authority of the library appoints or elects to represent the library at the annual meeting of system member libraries.
The Liquidation Value of $439,000 is based on the Forced Liquidation Value noted in CohnReznick's valuation report dated April 18, 2018 (the "Valuation Report").
In order to consider the reasonableness of the Transaction, the Proposal Trustee reviewed a report (the “Appraisal”) prepared by Century Appraisals on February 4, 2021 providing its opinion of the Fair Market Value, the Orderly Liquidation Value, and the Forced Liquidation Value of the Company’s assets.
Although the price received will still likely be a wholesale price, it is likely to be higher than the Forced Liquidation Value scenario above.This is an example of an Orderly Liquidation Value, which is defined as the estimated gross amount expressed in terms of money that could be typically realized from a liquidation sale, given a reasonable period of time to find a purchaser(s) with the seller being compelled to sell on an as-is, where-is basis as of a specific date.
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 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
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 a 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, as to any Eligible M&E, the value thereof on an auction liquidation basis as determined by a current appraisal, in form satisfactory to Lender, prepared by a credentialed appraiser acceptable to Lender pursuant to such valuation methods as are acceptable to Lender.
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 Exhibit A to FirstFourth Amendment Conformed Amended and Restated Credit Agreement – Independence Contract Drilling #37466145 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 has the meaning set forth in the most recent appraisal that is acceptable to Lender in its sole discretion which appraisal will use industry standard valuation methodology and assumptions.
Forced Liquidation Value as to Eligible Equipment, as determined by an Appraiser, the value of such Eligible Equipment, based on the assumption that it is sold under an immediate "auction" sale.