Net Forced Liquidation Value definition

Net Forced Liquidation Value means a professional opinion of the probable Net Cash Proceeds that could be realized at a properly advertised and professionally managed forced sale public auction conducted without reserve under economic trends current within 60 days of the appraisal, which opinion may consider physical location, difficulty of removal, adaptability, specialization, marketability, physical condition, overall appearance and psychological appeal.

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Net Forced Liquidation Value means with respect to Eligible Tradenames, the forced liquidation value thereof as determined in an Acceptable IP Appraisal, net of all costs of liquidation thereof.

Net Forced Liquidation Value means, as to Eligible Equipment, at any time, the value of such Eligible Equipment, determined on a forced liquidation basis, reduced by such commissions, fees, costs and expenses as may be reasonably expected in connection with the liquidation thereof, as set forth in the most recent appraisal delivered, at the sole cost and expense of Borrowers, to Lender, as to the Eligible Equipment, in form, scope, and methodology acceptable to Lender in its Permitted Discretion and performed by an appraiser acceptable to Lender in its Permitted Discretion, addressed to Lender and upon which Lender is permitted to rely.

Examples of Net Forced Liquidation Value in a sentence

• 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.

• 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.

• The Net Forced Liquidation Value of any additional Eligible Equipment or the appraised fair market value of any additional Eligible Real Property shall be included in the calculation of the Fixed Asset Loan Value of the US Borrower that owns such Eligible Equipment or Eligible Real Property and the Agent shall correspondingly amend Schedule 1.14 without any further action of any party hereto.

• 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.

• If Lender obtains an appraisal of the Equipment at any time as permitted under this Agreement, and such appraisal shows the aggregate unpaid principal amount of the Term Loan to exceed 100% of the Net Forced Liquidation Value of Eligible Equipment, then Lender may (i) require Borrowers to immediately prepay the unpaid principal of the Term Loan in the amount of such excess.

More Definitions of Net Forced Liquidation Value

Net Forced Liquidation Value means with respect to personal property at any time, the Canadian Dollar Amount of the gross liquidation value of such property, on a forced sale basis, determined pursuant to a current appraisal (conducted by an independent appraiser satisfactory to Required Lenders acting reasonably) net of (a) liquidation expenses as estimated by Administrative Agent in its sole discretion and (b) the amount of all liens (except liens granted to Administrative Agent) against such property ranking or capable of ranking senior to or pari passu with the financing arrangements against such property that secure the Obligations.

Net Forced Liquidation Value means the cash proceeds of Equipment which could be obtained in a forced liquidation (net of all liquidation expenses, costs of sale, operating expenses and retrieval and related costs), as determined pursuant to the most recent Appraisal delivered to the Agent.

Net Forced Liquidation Value means, as to Eligible Equipment, at any time, the value of such Eligible Equipment, determined on a forced liquidation basis, reduced by such commissions, fees, costs and expenses as may be reasonably expected in connection with the liquidation thereof, as set forth in the most recent appraisal delivered, at the sole cost and expense of Borrowers, to Lender, as to the Eligible Equipment, in form, scope, and methodology acceptable to Lender in its Permitted Discretion and performed by an appraiser acceptable to Lender in its Permitted Discretion, addressed to Lender and upon which Lender is permitted to rely.”

Net Forced Liquidation Value means, with respect to Eligible Equipment, the estimated most probable net amount, expressed in terms of currency, which could typically be realized at a public auction sale of such Eligible Equipment under forced sale conditions and under present-day economic trends, as of the effective date of the most recent acceptable appraisal of equipment received by Lender in accordance with this Agreement, net of all direct auction expenses and exclusive of a buyer’s premium.

Net Forced Liquidation Value means the US Dollar Amount to be realized from any forced liquidation of Borrowers’ Eligible Equipment as set forth in the most recent acceptable appraisal received by Lender and upon which Lender may rely, net of all operating expenses and associated costs and expenses of such liquidation, commissions and taxes, such amount to be as determined from time to time by an appraisal company selected or approved by Lender.

Net Forced Liquidation Value means the value of the Borrowers’ Eligible ABL Priority Collateral Vessels that is estimated to be recoverable in a forced liquidation of such Eligible ABL Priority Collateral Vessels, net of all associated costs and expenses of such liquidation, such value to be as determined from time to time by an Approved Broker in connection with a Vessel Appraisal conducted in accordance with the terms hereof.

Net Forced Liquidation Value the net forced liquidation value of Accounts expected to be realized at an immediate sale of a Borrower’s assets held under forced sale conditions, where the seller is compelled to sell with a sense of immediacy on an “as is, where is” basis, during a limited timeframe, as determined from the most recent appraisal of Borrowers’ Accounts performed by an appraiser and on terms satisfactory to Lender.