Equipment Valuation definition

Equipment Valuation means a valuation of Equipment carried out by an appraiser appointed by Burdale on the basis of estimated restricted realisation price.
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Equipment Valuation means the valuation/appraisal of the Equipment and the Clear Springs Equipment, to be provided by the Borrowers to the Bank in a form acceptable to the Bank, by an appraiser or valuation expert selected by the Bank, and which shall specify the portion of the value attributable to the Equipment and the Clear Springs Equipment. "ERISA" shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time. "Eurodollar Loans" shall mean Loans hereunder that bear interest for the Interest Period applicable thereto at a rate of interest based upon the Adjusted Libor Rate. "Eurodollar Reserve Percentage" means for any day that percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement for a member bank of the Federal Reserve System in New York City with deposits exceeding one billion dollars in respect of "Eurocurrency liabilities" (or in respect of any other category of liabilities which includes deposits by reference to which the interest rate on Eurodollar Loans is determined or any category of extensions of credit or other assets which includes loans by a non-United States office of the Bank to United States residents). With respect to increases in the Eurodollar Reserve Percentage, the Adjusted Libor Rate shall be adjusted automatically on and as of the effective date of any such increase. "Event of Default" shall mean any of the events specified in this Agreement under "Events of Default", provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, has been satisfied. "Fixed Rate Loans" shall mean any Eurodollar Loans. "Fluctuating Rate Loans" shall mean Loans hereunder that bear interest at a rate of interest based upon the Prime Rate. "GAAP" shall mean generally accepted accounting principals applied in a manner consistent with that employed in the preparation of the financial statements described in Section 3.1. 3 4 "Governmental Authority" shall mean any nation or government, any state or other political subdivision thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, and any corporation or other entity owned or controlled (through stock or capital ownership or otherwise) by any of the foregoing. "Indebtedness" shall mean, with respect to any Person, (a) all ...
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Equipment Valuation means a valuation of the Eligible Equipment carried out by an appraiser approved by the Agent on the basis of estimated restricted realisation price.
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Examples of Equipment Valuation in a sentence

  • In the event the outstanding principal amount of the Term Loan exceeds the Adjusted Equipment Valuation, then Borrowers shall execute a deficiency note similar in form to the Term Note (the "Deficiency Note"), in an amount equal to the difference between the outstanding principal amount of the Term Loan and the Adjusted Equipment Valuation, as determined on the date of the Equipment Valuation.

  • The Borrowers agree to execute the Deficiency Note within 30 days after receipt by the Bank of the Equipment Valuation, together with a modification of the Term Note, and such other agreements, documents, certifications and affidavits reasonably required by the Bank in connection therewith, including, but not limited to, corporate resolutions approving the transaction contemplated.

  • On or before September 6, 1996, the Borrowers shall have delivered to the Bank the Equipment Valuation.