Third Party Opinion of Lender Value For Objects Requested for Indemnity Clause Samples

The Third Party Opinion of Lender Value For Objects Requested for Indemnity clause requires that, when indemnity is sought for certain objects, the value of those objects must be determined by an independent third party acceptable to the lender. In practice, this means that if a claim arises and indemnification is triggered, the parties cannot simply assign a value themselves; instead, a neutral expert or appraiser will assess the worth of the relevant items. This clause ensures that the valuation process is objective and fair, preventing disputes over the amount to be indemnified and protecting both parties from biased or inflated valuations.
Third Party Opinion of Lender Value For Objects Requested for Indemnity. The applicant must have lender values assessed by experts other than staff of the applicant, participating venues, lenders, or anyone directly involved with the exhibition. An expert may be, for example, personnel of an auction house or dealer, or an outside curator unaffiliated with the exhibition. An expert should identify conflicts of interest and recuse him/herself. If requested objects are of two or more types, cultures, time periods, etc., it may be necessary to consult more than one expert (they do not need to be from the same source). The Third Party 1) may agree with the lender value, or 2) may believe the lender value is low, or 3) may believe the lender value is high. If the Third Party does not concur with the lender value he/she should suggest an alternate value. State the Third Party’s opinion of the values in the Identification and U.S. Dollar Value of Objects Requested for Indemnity (Items 2 and 3, and as applicable, 4); see instructions, below. (a) Provide the name and title for each expert and a brief statement that establishes his/her expertise and qualifications (see Question 12(g)).
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Third Party Opinion of Lender Value For Objects Requested for Indemnity. The applicant must have lender values assessed by experts other than staff of the applicant, participating venues, lenders, or anyone directly involved with the exhibition. An expert may be, for example, personnel of an auction house or dealer, or an outside curator unaffiliated with the exhibition. If requested objects are of two or more types, cultures, time periods, etc., it may be necessary to consult more than one expert (they do not need to be from the same source). The Third Party 1) may agree with the lender value as fair market value, or 2) may believe the lender value is lower than fair market value, or
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Third Party Opinion of Lender Value For Objects Requested for Indemnity. The applicant must have lender values assessed by experts other than staff of the applicant, participating venues, lenders, or anyone directly involved with the exhibition. An expert may be, for example, personnel of an auction house or dealer, or an outside curator unaffiliated with the exhibition. If requested objects are of two or more types, cultures, time periods, etc., it may be necessary to consult more than one expert (they do not need to be from the same source). The Third Party 1) may agree with the lender value as fair market value, or 2) may believe the lender value is lower than fair market value, or 3) may believe the lender value is higher than fair market value. If the Third Party does not concur with the lender value he/she should suggest an alternate value. State the Third Party’s opinion of the values in the Identification and U.S. Dollar Value of Objects Requested for Indemnity (Attachments 2 and 3, and as applicable, 4); see instructions, below. (a) Provide the name and title for each expert and a brief statement that establishes his/her expertise and qualifications (see Question 12(g)).
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Third Party Opinion of Lender Value For Objects Requested for Indemnity. The applicant must have lender values assessed by experts other than staff of the applicant, participating institutions, lenders, or anyone directly involved with the exhibition. An expert may be, for example, personnel of an auction house or dealer, or an outside curator unaffiliated with the exhibition. If requested objects are of two or more types, cultures, time periods, etc., it may be necessary to consult more than one expert (they do not need to be from the same source). Provide the name and title for each expert and a brief statement that establishes his or her expertise and qualifications. The Third Party 1) may agree with the lender value, or 2) may believe the lender value is lower than fair market value, or 3) may believe the lender value is inflated or overstated. If the Third Party does not concur with the lender value he or she should suggest an alternate value. State the Third Party's opinion of each value in the Identification and U.S. Dollar Value of Objects Requested for Indemnity (Attachment 2, and as applicable, 3).
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Related to Third Party Opinion of Lender Value For Objects Requested for Indemnity

  • Limitation of responsibility of Existing Lenders (a) Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no responsibility to a New Lender for: (i) the legality, validity, effectiveness, adequacy or enforceability of the Finance Documents or any other documents; (ii) the financial condition of any Obligor; (iii) the performance and observance by any Obligor of its obligations under the Finance Documents or any other documents; or (iv) the accuracy of any statements (whether written or oral) made in or in connection with any Finance Document or any other document, and any representations or warranties implied by law are excluded. (b) Each New Lender confirms to the Existing Lender and the other Finance Parties that it: (i) has made (and shall continue to make) its own independent investigation and assessment of the financial condition and affairs of each Obligor and its related entities in connection with its participation in this Agreement and has not relied exclusively on any information provided to it by the Existing Lender in connection with any Finance Document; and (ii) will continue to make its own independent appraisal of the creditworthiness of each Obligor and its related entities whilst any amount is or may be outstanding under the Finance Documents or any Commitment is in force. (c) Nothing in any Finance Document obliges an Existing Lender to: (i) accept a re-transfer from a New Lender of any of the rights and obligations assigned or transferred under this Clause 24; or (ii) support any losses directly or indirectly incurred by the New Lender by reason of the non-performance by any Obligor of its obligations under the Finance Documents or otherwise.

  • Conditions to Obligation of Each Party to Effect the Merger The respective obligations of each party to this Agreement to effect the Merger shall be subject to the fulfillment at or prior to the Effective Time of each of the following conditions:

  • Certificate and Opinion as to Conditions Precedent Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee: (a) an Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and (b) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

  • Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall, if requested by the Trustee, furnish to the Trustee an Officer’s Certificate and an Opinion of Counsel stating that such action is permitted by the terms of this Indenture and that in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with. Each Officer’s Certificate and Opinion of Counsel provided for, by or on behalf of the Company in this Indenture and delivered to the Trustee with respect to compliance with this Indenture (other than the Officer’s Certificates provided for in Section 4.08) shall include (a) a statement that the person signing such certificate is familiar with the requested action and this Indenture; (b) a brief statement as to the nature and scope of the examination or investigation upon which the statement contained in such certificate is based; (c) a statement that, in the judgment of such person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed judgment as to whether or not such action is permitted by this Indenture; and (d) a statement as to whether or not, in the judgment of such person, such action is permitted by this Indenture and that all conditions precedent to such action have been complied with. With respect to matters of fact, an Opinion of Counsel may rely on an Officer’s Certificate or certificates of public officials. Notwithstanding anything to the contrary in this Section 17.05, if any provision in this Indenture specifically provides that the Trustee shall or may receive an Opinion of Counsel in connection with any action to be taken by the Trustee or the Company hereunder, the Trustee shall be entitled to, or entitled to request, such Opinion of Counsel.

  • Inability of Lender to Submit Forms If any Lender determines, as a result of any change in applicable law, regulation or treaty, or in any official application or interpretation thereof, that it is unable to submit to the Borrower or the Administrative Agent any form or certificate that such Lender is obligated to submit pursuant to subsection (b) of this Section 13.1 or that such Lender is required to withdraw or cancel any such form or certificate previously submitted or any such form or certificate otherwise becomes ineffective or inaccurate, such Lender shall promptly notify the Borrower and Administrative Agent of such fact and the Lender shall to that extent not be obligated to provide any such form or certificate and will be entitled to withdraw or cancel any affected form or certificate, as applicable.