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 means, as of any date of determination, with respect to Eligible Closing Date M&E or Eligible New M&E of any Person (as applicable), the value of such Eligible Closing Date M&E or Eligible New M&E (as applicable) that is estimated to be recoverable in a forced liquidation of such Eligible Closing Date M&E or Eligible New M&E (as applicable), net of all associated costs and expenses of such liquidation, as determined based upon the most recent Acceptable Appraisal of M&E; provided, that if such Acceptable Appraisal does not provide the costs and expenses of such liquidation on an item by item basis, then costs and expenses of liquidation for each item of Eligible Closing Date M&E or Eligible New M&E (as applicable) will be such amount as determined by Lender in its Permitted Discretion.

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.
Subject to the terms and conditions of this Agreement, Lender agrees to make on or about the Effective Date a single term loan in the original principal amount of $731,250.00 (the “Term Loan”), such amount calculated as 75.00% of the appraised Net Forced Liquidation Value of Borrower’s Equipment.
In as much as the real estate appraisal was a fair market value of the fee simple title of the real estate and allowing normal market exposure of up to one year, the appraiser did not take into account the components and forces for a Fair Market Forced Liquidation Value of the real estate.
The Lender shall have no obligation to make the Equipment Term Advance if, after giving effect to such requested Equipment Term Advance, the outstanding principal balance of the Equipment Term Advances would exceed the amount determined by multiplying the Equipment Advance Rate times the Net Forced Liquidation Value of Eligible Equipment.
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.

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 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. 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, 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 shall have the meaning specified in the Equipment Appraisal.

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 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.