Common use of Appraisal Reports Clause in Contracts

Appraisal Reports. Together with delivery of the compliance certificates described in Section 8.01(f) required in connection with each fiscal quarter in each fiscal year of the Parent, and at any other time within 33 days of the written request of the Administrative Agent, appraisal reports dated no more than 30 days prior to the date of delivery of such compliance certificate or such request, as applicable, in form and substance reasonably satisfactory to the Administrative Agent and from two Approved Appraisers stating the then current Fair Market Value of each of the Collateral Vessels. All such appraisals shall be conducted by, and made at the expense of, the Borrower (it being understood that the Administrative Agent may and, at the request of the Required Lenders, shall, upon notice to the Borrower, obtain such appraisals and that the cost of all such appraisals will be for the account of the Borrower); provided that, unless an Event of Default shall then be continuing, in no event shall the Borrower be required to pay for more than four appraisal reports obtained pursuant to this Section 8.01(d) in any single fiscal year of the Borrower, with the cost of any such reports in excess thereof to be paid by the Lenders on a pro rata basis.

Appraisal Reports. Together with delivery of the compliance certificates financial statements described in (x) Section 8.01(f8.01(a) required in connection with each for the second fiscal quarter in of each fiscal year of the Parentand (y) Section 8.01(b) for each fiscal year, and at any other time within 33 days of the written request of the Administrative Agent, appraisal reports dated no more than within 30 days prior to of the delivery date of delivery of such compliance certificate or such request, as applicable, in form and substance and from independent appraisers reasonably satisfactory to the Administrative Agent and from two Approved Appraisers Agent, stating the then current Fair Market Value fair market value of each of the Collateral VesselsMortgaged Vessels on an individual charter-free basis. All such appraisals shall be conducted by, and made at the expense of, the Borrower Parent (it being understood that the Administrative Agent may and, at the request of the Required Lenders, shall, upon notice to the BorrowerParent, obtain such appraisals and that the cost of all such appraisals will be for the account of the BorrowerParent); provided that, unless an Event of Default shall then be continuing, in no event shall the Borrower Parent be required to pay for more than four three appraisal reports obtained pursuant to this Section 8.01(d8.01(c) in any single fiscal year of the BorrowerParent, with the cost of any such reports in excess thereof to be paid by the Lenders on a pro rata basis.

Appraisal Reports. Together with delivery of the compliance certificates described in Section 8.01(f8.01(e) required in connection with each the second and fourth fiscal quarter quarters in each fiscal year of the Parent, and at any other time within 33 days of the written request of the Administrative Agent, appraisal reports dated no more than 30 days prior to the date of delivery of such compliance certificate or such request, as applicable, in form and substance reasonably satisfactory to the Administrative Agent and from two Approved Appraisers stating the then current Fair Market Value of each of the Collateral Vessels. All such appraisals shall be conducted by, and made at the expense of, the Borrower (it being understood that the Administrative Agent may and, at the request of the Required Lenders, shall, upon notice to the Borrower, obtain such appraisals and that the cost of all such appraisals will be for the account of the Borrower); provided that, unless an Event of Default shall then be continuing, in no event shall the Borrower be required to pay for more than four three appraisal reports obtained pursuant to this Section 8.01(d8.01(c) in any single fiscal year of the Borrower, with the cost of any such reports in excess thereof to be paid by the Lenders on a pro rata basis.

Appraisal Reports. Together with delivery of the compliance certificates described in (x) Section 8.01(f9.01(e) required in connection with each the second and fourth fiscal quarter quarters in each fiscal year of the Parent, and at any other time within 33 days of the written request of the Administrative Agent, appraisal reports dated no more than 30 days prior to the date of delivery of such compliance certificate or such request, as applicable, in form and substance reasonably satisfactory to the Administrative Agent and from two Approved Appraisers Appraisers, stating the then current Fair Market Value of each of the Collateral Vessels. All such appraisals shall be conducted by, and made at the expense of, the Borrower (it being understood that the Administrative Agent may and, at the request of the Required Lenders, shall, upon notice to the Borrower, obtain such appraisals and that the cost of all such appraisals will be for the account of the Borrower); provided that, unless an Event of Default shall then be continuing, in no event shall the Borrower be required to pay for more than four three appraisal reports obtained pursuant to this Section 8.01(d9.01(c) in any single fiscal year of the Borrower, with the cost of any such reports in excess thereof to be paid by the Lenders on a pro rata basis.

Appraisal Reports. Together with delivery Within 45 days after the close of the compliance certificates described in Section 8.01(f) required in connection with each fiscal quarter second and the fourth quarterly accounting periods in each fiscal year of the ParentBorrower, and at any other time within 33 days of the written request of the Administrative Agent, appraisal reports Appraisals for each Mortgaged Vessel (i) dated no more than 30 days prior to delivery thereof to the date of delivery of such compliance certificate or such requestAdministrative Agent, as applicable, (ii) in form and substance reasonably satisfactory to the Administrative Agent and (iii) from at least two Approved Appraisers stating the then current Fair Market Value of each of the Collateral VesselsAppraisers. All such appraisals Appraisals shall be conducted by, and made at the expense of, the Borrower (it being understood that the Administrative Agent may and, at the request of the Required Lenders, shall, upon notice to the Borrower, obtain such appraisals Appraisals and that the cost of all such appraisals Appraisals will be for the account of the Borrower); provided that, unless a Default or an Event of Default shall then be has occurred and is continuing, in no event shall the Borrower be required to pay for more than four appraisal reports Appraisals obtained pursuant to this Section 8.01(d8.01(c) on more than two occasions in any single fiscal year of the Borrower, with the cost of any such reports in excess thereof to be paid by the Lenders on a pro rata basis.

Appraisal Reports. Together with delivery Within 45 days after the close of the compliance certificates described in Section 8.01(f) required in connection with each fiscal quarter second and the fourth quarterly accounting periods in each fiscal year of the ParentBorrower, and at any other time within 33 days of the written request of the Administrative Agent, appraisal reports Appraisals for each Initial Vessel (i) dated no more than 30 days prior to delivery thereof to the date of delivery of such compliance certificate or such requestAdministrative Agent, as applicable, (ii) in form and substance reasonably satisfactory to the Administrative Agent and (iii) from at least two Approved Appraisers stating the then current Fair Market Value of each of the Collateral VesselsAppraisers. All such appraisals Appraisals shall be conducted by, and made at the expense of, the Borrower (it being understood that the Administrative Agent may and, at the request of the Required Lenders, shall, upon notice to the Borrower, obtain such appraisals Appraisals and that the cost of all such appraisals Appraisals will be for the account of the Borrower); provided that, unless a Default or an Event of Default shall then be has occurred and is continuing, in no event shall the Borrower be required to pay for more than four appraisal reports Appraisals obtained pursuant to this Section 8.01(d8.01(c) on more than two occasions in any single fiscal year of the Borrower, with the cost of any such reports in excess thereof to be paid by the Lenders on a pro rata basis.

Appraisal Reports. Together with delivery of the compliance certificates financial statements described in (x) Section 8.01(f8.01(a) required in connection with each for the second fiscal quarter in of each fiscal year of the Parentand (y) Section 8.01(b) for each fiscal year, and at any other time within 33 days of the written request of the Administrative Agent, appraisal reports dated no more than within 30 days prior to of the delivery date of delivery of such compliance certificate or such request, as applicable, in form and substance and from independent appraisers reasonably satisfactory to the Administrative Agent and from two Approved Appraisers Agent, stating the then current Fair Market Value fair market value of each of the Collateral VesselsMortgaged Vessels on an individual charter-free basis. All such appraisals shall be conducted by, and made at the expense of, the Borrower (it being understood that the Administrative Agent may and, at the request of the Required Lenders, shall, upon notice to the Borrower, obtain such appraisals and that the cost of all such appraisals will be for the account of the Borrower); provided that, unless an Event of Default shall then be continuing, in no event shall the Borrower be required to pay for more than four three appraisal reports obtained pursuant to this Section 8.01(d8.01(c) in any single fiscal year of the Borrower, with the cost of any such reports in excess thereof to be paid by the Lenders on a pro rata basis.”

Appraisal Reports. Together with delivery of the compliance certificates described in provided for Section 8.01(f7.01(e) required in connection with each fiscal quarter the second and fourth quarterly accounting periods in each fiscal year of the Parent, and at any other time within 33 days of the written request of the Administrative Agent, appraisal reports dated no more than 30 days prior to the of recent date of delivery of such compliance certificate or such request, as applicable, in form and substance and from independent appraisers reasonably satisfactory to the Administrative Agent and from two Approved Appraisers Adminis­tra­tive Agent, stating the then current Fair Market Value of each fair market value of the Collateral VesselsMortgaged Vessel on an individual charter-free basis. All such appraisals shall be conducted by, and made at the expense of, the Borrower (it being understood that the Administrative Agent may and, at the request of the Required Lenders, shall, upon notice to the Borrower, obtain such appraisals and that the cost of all such appraisals will be for the account of the Borrower); provided that, unless an Event of Default shall then be continuing, in no event shall the Borrower be required to pay for more than four two appraisal reports obtained pursuant to this Section 8.01(d7.01(c) in any single fiscal year of the Borrower, with the cost of any such reports in excess thereof to be paid by the Lenders on a pro rata basis.

Appraisal Reports. Together with delivery of the compliance certificates described in provided for Section 8.01(f8.01(e) required in connection with each fiscal quarter the second and fourth quarterly accounting periods in each fiscal year of the Parent, and at any other time within 33 days of the written request of the Administrative Agent, appraisal reports dated no more than 30 days prior to the of recent date of delivery of such compliance certificate or such request, as applicable, in form and substance and from independent appraisers reasonably satisfactory to the Administrative Agent and from two Approved Appraisers Adminis­tra­tive Agent, stating the then current Fair Market Value fair market value of each of the Collateral VesselsMortgaged Vessels on an individual charter-free basis. All such appraisals shall be conducted by, and made at the expense of, the Borrower (it being understood that the Administrative Agent may and, at the request of the Required Lenders, shall, upon notice to the Borrower, obtain such appraisals and that the cost of all such appraisals will be for the account of the Borrower); provided that, unless an Event of Default shall then be continuing, in no event shall the Borrower be required to pay for more than four two appraisal reports obtained pursuant to this Section 8.01(d8.01(c) in any single fiscal year of the Borrower, with the cost of any such reports in excess thereof to be paid by the Lenders on a pro rata basis.