Appraisal Evaluation. Upon receipt of an Appraisal, Administrative Agent will review the Appraisal in accordance with the appraisal policies and procedures of Administrative Agent and determine the Appraised Value. Administrative Agent will notify Borrower of such approval of the Appraised Value.
Appraisal Evaluation. Upon receipt of an Appraisal, the Lender will review the Appraisal and establish a Unit Appraised Value or a Eligible Lot Appraised Value, as applicable. The Lender will notify Borrower of such Unit Appraised Value or Eligible Lot Appraised Value and deliver to Borrower a copy of each Appraisal upon receipt.
Appraisal Evaluation. Upon receipt of an Appraisal, Majority Lenders will review the Appraisal in accordance with the appraisal policies and procedures of Majority Lenders and establish an Appraised Value. Majority Lenders will notify Borrower of such Appraised Value.
Appraisal Evaluation. (1) Within sixty (60) days, the Board shall obtain a current appraisal or evaluation, as applicable, of the real estate securing each of the loans listed in the XXX as lacking appropriate appraisal or evaluation.
Appraisal Evaluation. Bank shall be provided with appraisals (the “Appraisals”) for each Project in form and substance acceptable to Bank, and in an amount acceptable to Bank, (the “Appraised Value”) prepared in accordance with the terms and provisions of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended, and the Regulations thereunder and the Uniform Standards of Professional Practices (the “Act and Practice”), and prepared by an appraiser, acceptable to Bank, licensed and certified to conduct appraisals in Pennsylvania under the Act and Practice. The Appraisals shall be provided to Bank at or prior to the first disbursement of the Site Development Sub-Loan. The Appraisals shall be on an “as completed” value, and the cost of the Appraisals shall be paid by Borrowers prior to any disbursements under the Site Development Sub-Loan.
