NADA Value definition
NADA Value means the value of a previously owned Vessel as most recently published by the National Automobile Dealers Association.
NADA Value means, (i) while the Borrowing Base is in effect, the wholesale value published in the most recent NADA Boat Appraisal Guide, or (ii) following an Event of Default and termination of the Borrowing Base, the low wholesale value published in the most recent NADA Boat Appraisal Guide, but in each case if no value is available for the boat in such guide, then it shall be the comparable value published in the most recent BUC Used Boat Price Guide.
Examples of NADA Value in a sentence
For COLLATERAL which has no NADA Value available, ACV will be determined using the best information available to our Administrator, which Administrator determines reasonably reflects the value of the COLLATERAL and is customarily used as the basis for establishing ACV for COLLATERAL in the place where the COLLATERAL is located.