Initial Appraised Value definition

Initial Appraised Value means, with respect to a Railcar, the appraised value of such Railcar as determined in the Appraisal delivered in connection with the Conveyance thereof to the Issuer.

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Initial Appraised Value means, with respect to a mortgage loan, the appraised value of the applicable residential property used by such mortgage loan’s originator in connection with the origination of such mortgage loan.

Initial Appraised Value means, with respect to any Pool Aircraft as of any Release Date, the initial value of such Pool Aircraft, calculated by taking the lesser of the average and the median of the three initial Appraisals conducted with respect to such Pool Aircraft prior to the Effective Date (or, in the case of any Pool Aircraft not included in the original Designated Pool, the three initial Appraisals conducted with respect to such Pool Aircraft pursuant to Section 2.10).

Examples of Initial Appraised Value in a sentence

• If the two Initial Appraised Values differ from each other by 10% or less (based on the lower Initial Appraised Value), then the Fair Market Value of such Units shall be deemed to be the average of such Initial Appraised Values.

• If the two Initial Appraised Values differ from each other by more than 10% (based on the lower Initial Appraised Value), then the two initial Appraisers shall, within five (5) Business Days following such calculation, jointly select a third Appraiser.

• If the Post-Recovery Event Appraised Value set forth in such Recovery Event Appraisal is equal to or greater than the Initial Appraised Value, no further action by the Borrower shall be necessary under this clause (c).

• Schedule 4.01 contains a true and complete list of all Aircraft Assets, the Initial Appraised Value of each Aircraft and the Person within AerCo Group that owns directly or indirectly such Aircraft Asset (or, in the case of the Offering Memorandum Aircraft, the AerFi company whose stock is contemplated by the Offering Memorandum to be acquired by AerCo on or following the Closing Date and which has contracted to acquire such Offering Memorandum Aircraft), in each case as of the date hereof.

• In addition, the Servicer will furnish to AerCo, upon request of AerCo, information necessary for AerCo to furnish to the Standby Servicer a complete list of all Aircraft Assets, the Initial Appraised Value of each Aircraft Asset and the Person within AerCo Group that owns such Aircraft Asset, the jurisdiction in which such Person is legally organized and its officers, directors and shareholders, in each case as of the Start Date.

More Definitions of Initial Appraised Value

Initial Appraised Value means, with respect to each Aircraft, the “Initial Appraised Value” set forth on Schedule 3 of this Intercreditor Agreement and, in the case of any Substitute Aircraft, the Base Value established by the Appraiser for such Substitute Aircraft as of a date not more than six months prior to the date of the delivery of such Substitute Aircraft.

Initial Appraised Value means the appraised value determined on a cash flow basis (and, to the extent expressed in a range, using the midpoint of such range) of all of the Core Assets as set forth in the Funds Availability Date Appraisal.

Initial Appraised Value means, with respect to a Railcar, the appraised value of such Railcar as determined in the Appraisal delivered in connection with the Conveyance thereof to the Issuer; provided that, with respect to the Initial Notes, the Initial Appraised Value is the arithmetic mean of the two Appraisals of the Portfolio Railcars (as of the Initial Closing Date), obtained from RailSolutions, Inc. and ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ III, LLC (d/b/a ▇▇▇▇▇ Appraisal) prior to the Initial Closing Date.

Initial Appraised Value means (a) in the case of each ACS Group Initial Aircraft (other than a Substitute Aircraft), the lessor of the mean and the median of the appraisals by each of the Initial Appraisers of the Base Value of such ACS Group Initial Aircraft as of the Initial Appraisal Dates, (b) in the case of any Substitute Aircraft, the average of the appraisals by each of the Initial Appraisers of the Base Value of such ACS Group Initial Aircraft as of a date not more than six months prior to the date of the delivery of such ACS Group Initial Aircraft and (c) in the case of any ACS Group Additional Aircraft, the average of the appraisals by each of the Appraisers of the Base Value of such ACS Group Additional Aircraft as of a date not more than six months prior to the Closing Date for the issuance of the relevant ACS Group Additional Securities.

Initial Appraised Value means (i) for all the Initial Aircraft in aggregate, $817,814,000.00 and, for each Initial Aircraft, means the dollar amount specified opposite such Aircraft on Schedule 4.01 hereto, (ii) for all the Offering Memorandum Aircraft in aggregate, $724,053,000.00 and, for each Offering Memorandum Aircraft, means the dollar amount specified opposite such Aircraft on Schedule 4.01 hereto and (iii) for the Additional Aircraft, the "Initial Appraised Value" of such Additional Aircraft as such term is defined in the Indenture.

Initial Appraised Value means the Appraised Value of an Aircraft calculated in accordance with the valuations provided prior to the Utilisation Date in accordance with sub-paragraph (xxv) of paragraph 1 of Schedule 2 (Conditions Precedent) and delivered by the Borrower (or any member of the Group on behalf of the Borrower) to the Agent.

Initial Appraised Value means, with respect to any Mortgaged Property, the appraised value of such Mortgaged Property as set forth in a FIRREA-conforming appraisal obtained by the Administrative Agent with respect to such Mortgaged Property prior to (and within 12 months of) the Amendment No. 4 Effective Date, or if such Mortgaged Property constitutes an Additional Mortgaged Property or is a Substitute Property, a FIRREA-conforming appraisal obtained by the Administrative Agent with respect to such Additional Mortgaged Property or Substitute Property immediately prior to (and within 12 months of) such Additional Mortgaged Property or Substitute Property becoming a Mortgaged Property; provided that with respect to any such appraisal based upon an “as completed” valuation, following the completion of the applicable construction (or if such construction is not completed in a reasonable time, as determined by the Administrative Agent in consultation with the Company), the applicable appraising party shall confirm that the construction has been completed in accordance with the description thereof in the appraisal, and if such construction was not in accordance with the description thereof in the appraisal (or was not completed in a reasonable time), the Initial Appraised Value for such Mortgaged Property may be adjusted by the Administrative Agent following a re-appraisal of the property (or adjustment of such initial appraisal by the applicable appraising party); provided, further, that, with respect to the Mortgaged Property on the Amendment No. 4 Effective Date located at ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇, ▇▇▇▇▇, until the applicable Mortgage with respect to such Mortgaged Property is recorded in the applicable recording office, and all recording taxes with respect thereto have been paid in full, such Mortgaged Property shall be deemed to have an Initial Appraised Value of $0.