Common use of Valuation Reports Clause in Contracts

Valuation Reports. The Borrowing Base Loan Parties shall, within ten (10) Business Days after the end of each fiscal quarter of the Parent ending on or after the Borrowing Base Value Adjustment Date, deliver to the Administrative Agent an updated Valuation Report, dated as of a date no earlier than ten (10) days prior to the date of such delivery (or as of such earlier date as the Administrative Agent shall have agreed in writing), with respect to each Investment Property included in the calculation of the Borrowing Base Amount at such time that has a Reported Value that is based on (i) an AVM Report that is dated as of a date that is more than three months prior to the last day of such fiscal quarter, (ii) a BPO Report that is dated as of a date that is more than six months prior to the last day of such fiscal quarter or (iii) an Appraisal that is dated as of a date that is more than one year prior to the last day of such fiscal quarter, together with a certificate executed by a Responsible Officer of the Parent certifying to the Administrative Agent and the Lenders that the AVM Lower-Tier Confidence Score Percentage on the last day of such fiscal quarter did not exceed 10% (which certificate shall also contain a reasonably detailed calculation of such AVM Lower-Tier Confidence Score Percentage). 69

Valuation Reports. The Borrowing Base Loan Parties shall, within ten (10) Business Days after the end of each fiscal quarter of the Parent ending on or after the Borrowing Base Value Adjustment Date, deliver to the Administrative Agent an updated Valuation Report, dated as of a date no earlier than ten (10) days prior to the date of such delivery (or as of such earlier date as the Administrative Agent shall have agreed in writing), with respect to each Investment Property included in the calculation of the Borrowing Base Amount at such time that has a Reported Value that is based on (i) an AVM Report that is dated as of a date that is more than three months prior to the last day of such fiscal quarter, (ii) a BPO Report that is dated as of a date that is more than six months prior to the last day of such fiscal quarter or (iii) an Appraisal that is dated as of a date that is more than one year prior to the last day of such fiscal quarter, together with a certificate executed by a Responsible Officer of the Parent certifying to the Administrative Agent and the Lenders that the AVM Lower-Tier Confidence Score Percentage on the last day of such fiscal quarter did not exceed 10% (which certificate shall also contain a reasonably detailed calculation of such AVM Lower-Tier Confidence Score Percentage). 69.