Acceptable Appraisal definition
Acceptable Appraisal means, with respect to an appraisal of Inventory, the most recent appraisal of such property received by Agent (a) from an appraisal company satisfactory to Agent, (b) the scope and methodology (including, to the extent relevant, any sampling procedure employed by such appraisal company) of which are satisfactory to Agent, and (c) the results of which are satisfactory to Agent, in each case, in Agent’s Permitted Discretion.
Acceptable Appraisal means an appraisal commissioned by and addressed to the Agent (reasonably acceptable to the Agent as to form, assumptions, substance, and appraisal date), prepared by a qualified professional appraiser reasonably acceptable to the Agent, and complying in all material respects with the requirements of the Federal Financial Institutions Reform, Recovery and Enforcement Act of 1989.
Acceptable Appraisal means an up-to-date appraisal (completed within six months of the Closing Date) in respect of the Project Property by an appraiser acceptable to the Agent in form and substance satisfactory to the Lenders which confirms the following approaches to value: fair market value, cost to complete approach and comparable transaction approach and alternate use value on a hypothetical best use facility basis; together with a transmittal letter from such appraiser addressed to the Agent which permits the Agent and the Lenders to rely thereon.
Examples of Acceptable Appraisal in a sentence
Thereafter, the Administrative Agent may request an updated Acceptable Appraisal with respect to such property no earlier than twelve (12) months after the date such Mortgage Loan Made was included in the Borrowing Base.
Prior to the inclusion of credit for any Mortgage Loan Made in the Borrowing Base, the Borrower shall deliver to the Administrative Agent (which may be shared with any Lender) an Acceptable Appraisal with respect to the property securing such Mortgage Loan Made that is no older than twelve (12) months prior to the date of delivery.
More Definitions of Acceptable Appraisal
Acceptable Appraisal means, an MAI appraisal, in compliance with the Uniform Standards of Professional Appraisal Practice, reasonably acceptable to Administrative Agent as to form, substance, and appraisal date, prepared by a professional appraiser that is reasonably acceptable to Administrative Agent.
Acceptable Appraisal means, as of any date of determination, with respect to an appraisal of Equipment, the most recent appraisal of such Equipment received by Agent as of such date of determination, to determine the Net Orderly Liquidation Value thereof (i) from an Approved Appraiser and (ii) the scope and methodology of which are reasonably satisfactory to Agent.
Acceptable Appraisal a written appraisal (a) prepared by a qualified professional independent MAI appraiser selected by the Administrative Agent and who is not an employee of any Group Member or any of their Affiliates, the Administrative Agent or any Lender, (b) reasonably acceptable to the Administrative Agent as to form, assumptions, substance and appraisal date and (c) prepared in compliance with FIRREA and all other applicable federal and state laws and regulations applicable to the Lenders, appraisals and/or valuations of Real Property.
Acceptable Appraisal means an MAI appraisal that is (a) compliant with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, all other Laws applicable to Administrative Agent or Lenders, and the Uniform Standards of Professional Appraisal Practice, (b) in form and substance reasonably acceptable to Administrative Agent and Required Lenders, and (c) prepared by an independent appraisal firm selected by Administrative Agent and reasonably acceptable to Required Lenders.
Acceptable Appraisal means an appraisal commissioned by and addressed to Administrative Agent (acceptable to Administrative Agent as to form, substance, and date), prepared by a professional appraiser acceptable to Administrative Agent, and having the minimum qualifications required under all applicable Laws.
Acceptable Appraisal means, with respect to an appraisal of Inventory, the most recent appraisal of such property received by Agent
Acceptable Appraisal means, with respect to any Secured Property, a “market value” appraisal of such Secured Property prepared in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Institute of Canada and conducted in accordance with the standards of the Appraisal Institute of Canada by an Independent Appraiser, which is approved by the Agent in form, substance and which is addressed to the Agent.