Forced Liquidation Value definition

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).

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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 has the meaning stated in the definition of "Borrowing Base".

Examples of Forced Liquidation Value in a sentence

• 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.

• So long as no Event of Default has occurred and is continuing, the second Term Loan shall be made not sooner than the first Term Loan may be made and not later than the first anniversary of this Agreement and only upon the receipt by Silicon of a Forced Liquidation Value Equipment Appraisal acceptable to Silicon supporting the amount of the second Term Loan requested, up to but not exceeding $500,000.00.

• The Net Forced Liquidation Value of Eligible Equipment and the appraised fair market value of Eligible Real Property as of the date of the Appraisal delivered prior to the Closing Date, are set forth on Schedule 1.14.

• Since data has been presented to the undersigned that a possible corporate foreclosure is being considered that would effectively end the ability of the company to continue as a going concern, said valuation method will not be utilized herein to obtain a Fair Market Forced Liquidation Value for an electronic contract manufacturing services type organization.

• Upon request by Borrower to access Availability against the Eligible Inventory and approval by Lenders, the Revolving Credit Facility Maximum shall include availability against eligible Inventory up to FIFTY PERCENT (50%) of the Forced Liquidation Value of the eligible Inventory subject to an additional sub-limit not to exceed ONE HUNDRED PERCENT (100%) of the Availability against Eligible Accounts Receivable.

More Definitions of Forced Liquidation Value

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 a 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 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 #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).

Forced Liquidation Value as to Eligible Equipment, as determined by an Appraiser, the value of such Eligible Equipment, based on the assumption that it is sold under an immediate "auction" sale.

Forced Liquidation Value. LC Subfacility", "LIBOR Rate", "LIBOR Rate Borrowing", "Permitted Intercompany Guaranty", "Real Property Sublimit", "Reserve Requirement", "TARGET Settlement Date", "Type" are deleted.

Forced Liquidation Value means, as to any Eligible M&E, the value thereof on an auction liquidation basis as determined by a current appraisal, in form satisfactory to Lender, prepared by a credentialed appraiser acceptable to Lender pursuant to such valuation methods as are acceptable to Lender.

Forced Liquidation Value shall have the meaning specified in the Equipment Appraisal.

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). “Funding Accounts” has the meaning assigned to such term in Section 4.01(c). “GAAP” means generally accepted accounting principles set forth in opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant segment of the accounting profession, in each case as the same are applicable to the circumstances as of the date of determination.