Appraisal Update definition

Appraisal Update means any written supplement or “update” to an Appraisal, prepared by a member of the Appraisal Institute retained by Agent at Borrower’s reasonable cost and expense, addressed to Agent and satisfactory to Agent as to scope, methodology and assumptions and which complies with the Uniform Standards of Professional Appraisal Practice, setting forth such appraiser’s determination of the Appraised Value.

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Appraisal Update shall have the meaning provided in Section 7.01(k).

Appraisal Update means a written report of the Timberland that is an annual update to the Certified Appraisal to be provided to Lender pursuant to Section 6.01.b.xi herein.

Examples of Appraisal Update in a sentence

The Borrower shall provide the Administrative Agent within the period of sixty (60) days preceding each Appraisal Update Date (but, in no event later than two (2) Business Days preceding each Appraisal Update Date), with three (3) CMV Appraisals and three (3) BV Appraisals of each Portfolio Aircraft.
The Global Headquarters Appraisal Update shall be at the sole expense of the Loan Parties.
If Junior Participant delivers a Control Retention Guaranty secured by Control Retention Collateral, and if the Participants determine in good faith, based on a subsequent Appraisal or Appraisal Update rendered in accordance with this Section 18 that the Control Retention Collateral exceeds the amount required to continue deferring a Loss of Control Event, Senior Participant shall release the excess Control Retention Collateral.
The Borrower shall provide the Administrative Agent within the period of sixty (60) days preceding each Appraisal Update Date (but, in no event later than two (2) Business Days preceding each Appraisal Update Date), with three (3) CMV Appraisals of each Aircraft.
From and after the first anniversary of Conference Substantial Completion, from time to time upon the request of Agent, but no more than once in any calendar year, deliver to Agent, an Appraisal Update.
If, at the time of such partial release request, the most recent Appraised Timberland Value is an Appraisal Update, Lender may require a new Certified Appraisal be received prior to such release.
The Company shall have caused an updated appraisal of the Property (the "Appraisal Update"), satisfactory in form and substance to the Agent and the Note and Certificate Purchasers, to be delivered to the Agent and the Note and Certificate Purchasers.
If the Appraised Value of the Property determined by the second Appraisal differs from the Appraised Value indicated in the Appraisal or Appraisal Update used in determining the Loss of Control Event by more than 5%, the Agent shall direct the appraisers to jointly appoint a third Appraiser, at the expense of Junior Participant, to reconcile the differences between the Appraised Values determined under each Appraisal.
The RIGHT OF WAY CONSULTANT shall be responsible for supplying all appraisal expert witness testimony and for delivering all Appraisal Update Reports to meet all deadlines.
In all events, Obligor shall cooperate with Agent and any such appraiser and their agents and employees in connection with such Appraisal or Appraisal Update.

More Definitions of Appraisal Update

Appraisal Update has the meaning set forth in Section 2.01(m) of the Participation Agreement.

Appraisal Update means an update to a previously delivered Appraisal that provides an updated opinion of the Appraised Value of the Property based on changes in circumstances since delivery of the prior Appraisal.

Appraisal Update. An update to the appraisal of the Real Property, dated May 10, 1995, performed by Hospitality Valuation Services, A Division of Hotel Appraisals, Inc., or such other appraiser as Agent may reasonably approve, (i) in form and substance satisfactory to Agent, (ii) paid for by Borrower and (iii) made in accordance with the requirements of FIRREA. ARCHITECT: Ahea▇▇-▇▇▇▇▇▇▇▇ ▇▇▇ Associates P.C., or such other architect as Agent may approve.

Appraisal Update means any written supplement or “update” to an Appraisal, prepared by a professional appraiser retained by Lender at Borrower’s expense who is a member of the Appraisal Institute, addressed to Lender and in form, scope and substance reasonably satisfactory to Lender, setting forth such appraiser’s determination of the Appraised Value.