Current Appraisal definition
Current Appraisal. With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its own expense from an independent appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Company as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Company's customary requirements for such appraisals. Election to Delay Foreclosure: Any election by the Purchaser to delay the Commencement of Foreclosure, made in accordance with Section 2.02(b).
Current Appraisal. With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its own expense from an independent appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Company as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Company's customary requirements for such appraisals.
Current Appraisal means an Appraisal dated no earlier than ninety (90) days (or such longer period, if any, as the Agent shall approve) before the relevant Determination Date.
Examples of Current Appraisal in a sentence
Without limiting the obligations of Borrower under foregoing sentence, the Agent may elect (in its sole and absolute discretion) to obtain, at the sole cost and expense of the Borrower, a Current Appraisal for any Unencumbered Pool Asset (i) if the Borrower fails to deliver a Current Appraisal for such Unencumbered Pool Asset in accordance with this Section 6.11, or (ii) after the occurrence and during the continuance of an Event of Default.
More Definitions of Current Appraisal
Current Appraisal. With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its own expense from an independent appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Company as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Company's customary requirements for such appraisals. ELECTION TO DELAY FORECLOSURE: Any election by the Purchaser to delay the Commencement of Foreclosure, made in accordance with Section 2.02(b).
Current Appraisal means an Appraisal dated within six (6) months of the date of determination which Appraisal shall be approved by Buyer.
Current Appraisal means an appraisal dated within twelve (12) months of the date of determination; provided, however, (i) in the case of the valuation of an Underlying Mortgaged Property, such appraisal shall be a FIRREA Appraisal and (ii) in the case of the valuation of a Mortgage Asset, such appraisal shall be from a nationally recognized appraisal firm (other than the Borrowers, the Guarantors or any Affiliate of the foregoing) (A) with substantial experience valuing assets similar in type, size and structure to the Mortgage Asset in question, (B) having substantial familiarity with the market for such Mortgage Asset and (C) that is otherwise acceptable to the Administrative Agent in its discretion.
Current Appraisal. With respect to any Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its expense from an appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Depositor as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Depositor's customary requirements for such appraisals.
Current Appraisal. With respect to any Mortgage Loan as to which the Loss Mitigation Advisor has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Loss Mitigation Advisor at its own expense from an independent appraiser (which shall not be an affiliate of the Loss Mitigation Advisor) acceptable to the Master Servicer as nearly contemporaneously as practicable to the time of the Loss Mitigation Advisor's election, prepared based on the Master Servicer's customary requirements for such appraisals.
Current Appraisal shall have the meaning given to that term in Subparagraph 3.02(h) of the Purchase Agreement.
Current Appraisal. With respect to any Subject Mortgage Loan as to which the Directing Holder has made an Election to Delay Foreclosure or an Election to Foreclose, an appraisal of such Mortgage Loan, based on an appraisal of the related Mortgaged Property obtained by the Directing Holder at its expense from an appraiser acceptable to the Master Servicer as nearly contemporaneously as practicable to the time of the Directing Holder's election, prepared based on the Master Servicer's customary requirements for such appraisals, and which appraisal shall take into account estimated liquidation expenses and carrying costs.