Right to Obtain Appraisals. Agent shall have the right to obtain, from time to time, at Borrower's cost and expense, updated Appraisals of the Projects, provided that so long as no Event of Default shall have occurred and be continuing, Borrower shall only be obligated to pay for the costs and expenses associated with one such Appraisal of each of the Projects during any twenty-four (24) month period, except for any such Appraisal obtained by Agent in connection with the extension contemplated by Section 4.6 hereof. The reasonable costs and expenses incurred by Agent in obtaining such Appraisals shall be paid by Borrower forthwith upon billing or request by Agent for reimbursement therefor.
Right to Obtain Appraisals. The Agent on behalf of the Banks shall have the right to obtain from time to time, at the Borrower's cost and expense, updated Appraisals of the Project which will be ordered by the Agent, provided that so long as no Default or Event of Default shall have occurred and be continuing, the Borrower shall only be obligated to pay for the costs and expenses associated with one such Appraisal during any twenty-four (24) month period. The costs and expenses incurred by the Agent in obtaining such Appraisals shall be paid by the Borrower forthwith upon billing or request by the Agent for reimbursement therefor.
Right to Obtain Appraisals. The Agent shall have the right to obtain from time to time, at the Borrowers' cost and expense, updated Appraisals, provided that so long as no Default or Event of Default shall have occurred and be continuing, the Borrowers shall only be obligated to reimburse the Agent for its costs and expenses related to one updated Appraisal each fiscal year. The costs and expenses incurred by the Agent and the Lenders in obtaining such Appraisals shall be paid by the Borrowers forthwith upon billing or request by the Agent for reimbursement therefor.
Right to Obtain Appraisals. 30 Section 7.3 Charges Against Accounts. . . . . . . . . . . . . . 30
Right to Obtain Appraisals. The Agent and the Banks shall have the right to obtain from time to time, at the Borrower's cost and expense, updated Appraisals of the Collateral, and an Appraisal of each of the Vessels, provided that so long as no Default or Event of Default shall have occurred and be continuing, the Borrower shall only be obligated to pay for the costs and expenses associated with one such Appraisal per Vessel during any calendar year or the number of Appraisals as otherwise required by a Governmental Authority or by law. The reasonable costs and expenses incurred by the Agent and the Banks in obtaining such Appraisals shall be paid by the Borrower forthwith upon billing or request by the Agent and the Banks for reimbursement therefor.
Right to Obtain Appraisals. The Agent on behalf of the Banks shall have the right upon the request of the Requisite Banks to obtain from time to time, at the Borrower's cost and expense, Appraisals of the Properties or properties subject to Eligible Notes Receivable which will be ordered by the Agent, provided that so long as no Event of Default shall have occurred and be continuing, the Borrower shall only be obligated to pay for the costs and expenses associated with such Appraisals once during the term of the Loans. The costs and expenses incurred by the Agent in obtaining such Appraisals shall be paid by the Borrower forthwith upon billing or request by the Agent for reimbursement therefor.
Right to Obtain Appraisals. 48 7.3 CHARGES AGAINST LOAN CHECKING ACCOUNT................................ 48
Right to Obtain Appraisals. The Agent shall have the right to obtain from time to time, at the Borrowers' cost and expense, updated Appraisals, provided that so long as no Default or Event of Default shall have occurred and be continuing, the Borrowers shall only be obligated to obtain an updated Appraisal for each of the Resorts no more than once per fiscal year and to pay for the costs and expenses associated with such updated Appraisals as may be necessary to enable the Lenders to comply with the Legal Requirements applicable to such Lenders with respect to loans made pursuant to this Credit Agreement. The costs and expenses incurred by the Agent and the Lenders in obtaining such Appraisals shall be paid by the Borrowers forthwith upon billing or request by the Agent for reimbursement therefor.
Right to Obtain Appraisals. The Lender shall have the right to -------------------------- obtain from time to time, at the Borrower's cost and expense, updated Appraisals of the Property, provided -------- that so long as no Default or Event of Default shall have occurred and be continuing, the Borrower shall only be obligated to pay for the costs and expenses associated with one such Appraisal during any twelve (12) month period. The costs and expenses incurred by the Lender in obtaining such Appraisals shall be paid by the Borrower forthwith upon billing or request by the Lender for reimbursement therefor.
Right to Obtain Appraisals. The Agent shall have the right to obtain, from time to time, at the Borrower's cost and expense, upon the acquisition of any Property for a purchase price of equal to or greater than $5,000,000.00, or with respect to all Properties on a rolling twenty-four (24) month basis, one or more Appraisals (complying with all terms and conditions of FIRREA) updating the Appraised Value of Developable Land, Developed Lots, Developed Parcels and Amenities as of such date. The updated Appraisals shall consider the Appraised Value de novo and shall not simply add development costs incurred since the prior Appraisal to the amount of the appraised value reflected in such Appraisal) of the Mortgaged Properties. So long as no Default or Event of Default shall have occurred and be continuing, the Borrower shall only be obligated to pay for the costs and expenses associated with one (1) such Appraisal for a particular Project during any twenty-four (24) month period or upon the occurrence of a Default or Event of Default and upon the foregoing $5,000,000.00 or greater acquisition of a parcel of property. The costs and expenses incurred by the Agent in obtaining such Appraisals shall be paid by the Borrower forthwith upon billing or request by the Agent for reimbursement thereof. The Agent shall also obtain such appraisals upon the request of the Required Lenders; provided that if the Borrower is not required to pay the costs of such appraisals pursuant to this Section 14.2, then the costs shall be paid by the Lenders. Agent reserves the right to adjust the Appraised Value to more accurately reflect the Fair Market Value at its discretion.
