Annual Methodology definition
Annual Methodology means, in determining an opinion as to the Fair Market Value of the Spare Parts Collateral, taking at least the following actions: (i) reviewing the Parts Inventory Report prepared as of the applicable Valuation Date; (ii) reviewing the Independent Appraiser's internal value database for values applicable to Qualified Spare Parts included in the Spare Parts Collateral; (iii) developing a representative sampling of a reasonable number of the different Qualified Spare Parts included in Spare Parts Collateral for which a market check will be conducted; (iv) checking other sources, such as manufacturers, other airlines, U.S. government procurement data and airline parts pooling price lists, for current market prices of the sample parts referred to in clause (iii); (v) establishing an assumed ratio of Serviceable Parts to Unserviceable Parts as of the applicable Valuation Date based upon information provided by the Company and the Independent Appraiser's limited physical review of the Spare Parts Collateral referred to in the following clause (vi); (vi) visiting at least two locations selected by the Independent Appraiser where the Pledged Spare Parts are kept by the Company (neither of which was visited for purposes of the last appraisal under Section 2.1 or 2.2 of the Collateral Maintenance Agreement, whichever was most recent), PROVIDED that at least one such location shall be one of the top three locations at which the Company keeps the largest number of Pledged Spare Parts, to conduct a limited physical inspection of the Spare Parts Collateral; (vii) conducting a limited review of the inventory reporting system applicable to the Pledged Spare Parts, including checking information reported in such system against information determined through physical inspection pursuant to the preceding clause (vi) and (viii) reviewing a sampling of the Spare Parts Documents (including tear-down reports).
Annual Methodology means, in determining an opinion as to the Fair Market Value of the Collateral, taking at least the following actions: (i) reviewing the Parts Inventory Report prepared as of the applicable Valuation Date; (ii) reviewing the Independent Appraiser's internal value database for values applicable to Qualified Spare Parts included in the Collateral; (iii) developing a representative sampling of a reasonable number of the different Qualified Spare Parts included in Collateral for which a market check will be conducted; (iv) checking other sources, such as manufacturers, other airlines, U.S. government procurement data and airline parts pooling price lists, for current market prices of the sample parts referred to in clause (v); (v) establishing an assumed ratio of Serviceable Parts to Unserviceable Parts as of the applicable Valuation Date based upon information provided by the Owner and the Independent Appraiser's limited physical review of the Collateral referred to in the following clause (vi); (vi) visiting at least two locations selected by the Independent Appraiser where the Pledged Spare Parts are kept by the Owner (neither of which was visited for purposes of the last appraisal under Section 2.1 or 2.2 of the Collateral Maintenance Agreement, whichever was most recent), provided that at least one such location shall be one of the top three locations at which the Owner keeps the largest number of Pledged Spare Parts, to conduct a limited physical inspection of the Collateral; (vii) conducting a limited review of the inventory reporting system applicable to the Pledged Spare Parts, including checking information reported in such system against information determined through physical inspection pursuant to the preceding clause (vi); and (viii) reviewing a sampling of the Spare Parts Documents (including tear-down reports).
Annual Methodology means, in determining an opinion as to the Fair Market Value of the Pledged Spare Parts, taking at least the following actions:
Examples of Annual Methodology in a sentence
Sampling Methodology Scope Summary Partner Type Audit / Oversight Type Frequency TPA Premium Audit Annual Methodology determined by; 100% of the total population during the sample period and apply a 95% confidence level with a + or - 5% confidence interval to determine the sample size.
More Definitions of Annual Methodology
Annual Methodology. , "Class A Collateral Ratio", "Fair Market Value" and "Quarterly Methodology" (collectively, the "Class A Liquidity Provider Provisions"); and provided, further, that the Class B Noteholders are intended third-party beneficiaries of the following provisions of this Collateral Maintenance Agreement (collectively, the "Subordinated Note Provisions"): (i) the requirement that appraisals of the Collateral be obtained for purposes of determining the Maximum Class B Collateral Ratio under Sections 2.2 and 2.3 hereof; (ii) the requirement that the Maximum Class B Collateral Ratio be complied with in connection with such appraisals; (iii) Section 3.2(c) hereof; and (iv) Section 3.3(a)(ii) hereof (it being understood that all of the other provisions of this Collateral Maintenance Agreement not expressly included within clauses (i), (ii), (iii) and (iv) of this proviso are not Subordinated Note Provisions). Upon payment in full of the Class A Notes, if any Class B Notes are then Outstanding, Sections 3.4, 3.5, 3.6, 3.7, 3.8 and 3.9 hereof and Appendix IV hereof, as then in effect, shall at such time also become Subordinated Note Provisions.