Common use of Appraisals; Adjusted Value Clause in Contracts

Appraisals; Adjusted Value. (a) At Agent’s request or, at the request of the Required Lenders, option to be exercised not more frequently than annually, the Agent may on behalf of the Lenders obtain current Appraisals of each of the Pool Properties. In any such case, said Appraisals will be ordered by Agent and reviewed and approved by the appraisal department of the Agent, in order to determine the current Appraised Value of the Pool Properties, and the Borrower shall pay to Agent within ten (10) days of demand all reasonable costs of such Appraisals.

Appraisals; Adjusted Value. (a) At Agent’s request or, at the request of the Required Lenders, option to be exercised not more frequently than annually, the Agent may on behalf of the Lenders obtain current Appraisals of each of the Pool Mortgaged Properties. In any such case, said Appraisals will be ordered by Agent and reviewed and approved by the appraisal department of the Agent, in order to determine the current Appraised Value of the Pool Mortgaged Properties, and the Borrower shall pay to Agent within ten (10) days of demand all reasonable costs of such Appraisals.

Appraisals; Adjusted Value. (a) At Agent’s request or, at the request of the Required Lenders, option to be exercised not more frequently than annually, the Agent may on behalf of the Lenders obtain current Appraisals of each of the Pool Mortgaged Properties. In any such case, said Appraisals will be ordered by Agent and reviewed and approved by the appraisal department of the Agent, in order to determine the current Appraised Value of the Pool Mortgaged Properties, and the Borrower shall pay to Agent within ten (10) days of demand all reasonable costs of such Appraisals.