Forced Liquidation Value means, with respect to any of the Borrowers’ Rig Fleet Equipment, as of any date, the sum of (i) the cash amount estimated to be recoverable in a forced liquidation sale of such Rig Fleet Equipment, net of all associated costs and expenses of such sale, as determined by reference to the most recent appraisal obtained by the Administrative Agent with respect to such Rig Fleet Equipment (for the avoidance of doubt, if values for particular items of Rig Fleet Equipment are not specifically itemized, then such values shall be as determined by the Administrative Agent by reference to such appraisal) minus (ii) the net forced liquidation value reflected in such appraisal for any of such Rig Fleet Equipment sold or otherwise disposed of since the date of such appraisal (for the avoidance of doubt, if values for particular items of Rig Fleet Equipment are not specifically itemized, then such values shall be as determined by the Administrative Agent by reference to such appraisal).
Forced Liquidation Value means, with respect to any Equipment, the "forced liquidation value" of such Equipment as determined by the most recent appraisal performed by or at the request of the Agent, by an Acceptable Appraiser.
Forced Liquidation Value means the amount estimated by Weir International, Darco Energy Management Corporation – Pikeville, Ky., or any other nationally recognized appraisal firm acceptable to the Requisite Lenders in their sole discretion which is the most probable price expressed in terms of currency in Dollars which the subject underground and surface mobile equipment and fixtures (excluding prep plants and mineral reserves) constituting Term Loan Collateral owned by the Credit Parties could typically realize at a properly advertised and conducted public auction sale, held under forced sale conditions, with the seller obligated to sell, and under present day economic trends, as of the effective date of the appraisal report, such report to be in form and substance satisfactory to the Administrative Agent.
Examples of Forced Liquidation Value in a sentence
Levy concluded that the Error Coins would have a Forced Liquidation Value of $10,401,600.
Ensure the governing authority of the library appoints or elects to represent the library at the annual meeting of system member libraries.
For the purpose of this thesis, the characteristics of a game will focus on the instructional aspect for the benefit of the learner in which the concentration is on the acquirement of new knowledge or improvement of the familiarity of a particular subject.
Although the price received will still likely be a wholesale price, it is likely to be higher than the Forced Liquidation Value scenario above.This is an example of an Orderly Liquidation Value, which is defined as the estimated gross amount expressed in terms of money that could be typically realized from a liquidation sale, given a reasonable period of time to find a purchaser(s) with the seller being compelled to sell on an as-is, where-is basis as of a specific date.
Eligible Real Estate of any Borrower shall be that real estate and improvements thereon that Agent has specifically identified and approved in writing and as to which, following an independent appraisal thereof, Agent has assigned an Appraised Forced Liquidation Value and to which none of the criteria below applies.
More Definitions of Forced Liquidation Value
Forced Liquidation Value has the meaning stated in the definition of "Borrowing Base".
Forced Liquidation Value means, as of any date, the forced liquidation value of the Rig Fleet Equipment as determined by the most recent FLV Appraisal, such figure to be adjusted monthly on the first day of each calendar month after the delivery of such FLV Appraisal to equal the sum of the Forced Liquidation Value for the immediately preceding period plus one hundred percent (100%) of the cost reflected on the invoice (as provided to Agent) of Rig Fleet Equipment purchased or otherwise acquired by Borrower since the most recent determination, minus the Forced Liquidation Value of any Rig Fleet Equipment sold or otherwise disposed of since the most recent determination.
Forced Liquidation Value has the meaning set forth in the most recent appraisal that is acceptable to Lender in its sole discretion which appraisal will use industry standard valuation methodology and assumptions.
Forced Liquidation Value means, as to any Eligible M&E, the estimated most probable price of such Eligible M&E typically realized at a properly advertised and conducted public auction sale held under forced sale conditions with all such assets being sold on a piecemeal basis "as is, where is" and with the purchaser being responsible for removal of the asset.
Forced Liquidation Value set forth in Section 1.1 of the Loan Agreement is amended and restated in its entirety, as follows:
Forced Liquidation Value means, with respect to any item of Eligible Fixed Asset Equipment or Eligible Capex Equipment, the forced liquidation value of such Eligible Fixed Asset Equipment or Eligible Capex Equipment as determined by an appraiser acceptable to Agent (pursuant to the most recent written appraisal obtained by Agent that is in form and substance acceptable to Agent and that contains methodologies, assumptions and other terms acceptable to Agent), net of estimated liquidation expenses and commissions as determined by Agent. "
Forced Liquidation Value means, with respect to any of the Borrowers’ Rig Fleet Equipment, as of any date, the sum of (i) the cash amount estimated to be recoverable in a forced Exhibit A to FirstFourth Amendment Conformed Amended and Restated Credit Agreement – Independence Contract Drilling #37466145 liquidation sale of such Rig Fleet Equipment, net of all associated costs and expenses of such sale, as determined by reference to the most recent appraisal obtained by the Administrative Agent with respect to such Rig Fleet Equipment (for the avoidance of doubt, if values for particular items of Rig Fleet Equipment are not specifically itemized, then such values shall be as determined by the Administrative Agent by reference to such appraisal) minus (ii) the net forced liquidation value reflected in such appraisal for any of such Rig Fleet Equipment sold or otherwise disposed of since the date of such appraisal (for the avoidance of doubt, if values for particular items of Rig Fleet Equipment are not specifically itemized, then such values shall be as determined by the Administrative Agent by reference to such appraisal).