VALUATION OF Sample Clauses

VALUATION OF. Condensate and/or Natural Gas Liquids (NGL): The Value of Condensate and/or Natural Gas Liquids (NGL) shall be 75% of the price as shall be determined on the basis of either the FOB selling price per Barrel of a basket of three Crude Oils which, at the time of calculation, are being freely and actively traded in the international market or the spot market for the same Crude Oils ascertained in the same manner, whichever price, in the opinion of the Parties, more truly reflects the current value of such Crude Oils. Crude Oils which qualify for inclusion in the basket shall be those for which the spot price and term price FOB point of export is published on a regular basis in ▇▇▇▇▇'▇ Oilgram or in the Asian Petroleum Price Index (APPI) whichever the parties mutually consider more relevant for this purpose. Contractor and Petrobangla hereby agree that the following three Crude Oils shall be used: (i) Crude Oil 1 [to be agreed later] (ii) Crude Oil 2 [to be agreed later] (iii) Crude Oil 3 [to be agreed later]

VALUATION OF. CRUDE OIL ------------------------- 8.1 Crude Oil sold to third parties shall be valued as follows: (a) All Crude Oil taken by CONTRACTOR including its share and the share for the recovery of Petroleum Operations Expenditures, and sold to third parties shall be valued at the net realized price received by CONTRACTOR for such Crude Oil F.O.

VALUATION OF a Ship subject to long-term charter. The Market Value of a Ship subject to a Mortgage which at the relevant time is subject to a charter or other contract of employment having an unexpired term of at least 12 months with a first class charterer acceptable to the Lenders (in their absolute discretion) shall be the aggregate of the present values (as may be conclusively determined by the Agent) of: (a) the Bareboat-equivalent Time Charter Income of the Ship in respect of the remaining unexpired term of the relevant charter or other contract of employment excluding any periods for which the relevant charter or contract of employment may be renewed at the option of any party (for the purposes of this Clause 15.4, an “option period”); and (b) the current charter-free market value (determined in accordance with Clause 15.3 but subject to the adjustments referred to in this Clause 15.4) of a vessel with identical characteristics to the Ship other than its age which shall, for the purposes of this Clause 15.4, be considered to be the age of the Ship at the expiration of the charter or other contract of employment to which the Ship is subject at the relevant time (excluding any option periods), as such value may be adjusted to take into account the terms of any commitments undertaken by the Owner of the Ship which may affect its value. For the purposes of this Clause 15.4, the discount rate which will apply in calculating the present value of the amounts referred to in paragraphs (a) and (b) will be the aggregate of (i) the Margin and (ii) the applicable Interest Rate Swap Rate for a period equal to the unexpired term of the Ship’s charter or other contract of employment (excluding any option periods (rounded up to the nearest integral year)) unless the unexpired term of the Ship’s charter or other contract of employment (excluding any option periods) is less than 12 months in which the Interest Rate Swap Rate for a period of 12 months will apply.

VALUATION OF. HOLYHEAD PORT AND STRANRAER PORT The value of each Port shall be the amount (expressed in Dollars by reference to exchange rates prevailing on the day of computation of the Security Value) determined as the earnings before interest, taxes, depreciation and amortisation in respect of such Port for the previous period of twelve (12) months as shown in the documents relating to such Port most recently delivered to and accepted by the Agent pursuant to Clause 14.2(E) multiplied by six and one half (6.5) provided that if the Agent on the instructions of the Majority Banks gives notice to the Borrower that the foregoing does not represent a fair market value of Holyhead Port and/or Stranraer Port the value shall be determined by the auditors of the Borrower or such other firm of auditors as the Agent shall on the instructions of the Majority Banks appoint on a basis which in the opinion of such auditors provides a Fair Market Valuation in accordance with the practice adopted by auditors in valuing similar port facilities in the United Kingdom. The foregoing procedure shall also be used to value any other Port which may from time to time be subject to a Port Mortgage in favour of the Security Agent. The initial values in Sterling of Holyhead Port and Stranraer Port shall be (pound)72,202,000 and (pound)13,533,000 respectively (being the values determined as at 31 December 2001 by reference to the earnings before interest, taxes, depreciation and amortisation for the previous twelve (12) months in respect of each respective Port).