Second Appraisal definition

Second Appraisal shall have the meaning ascribed to such term in Section 6.08.
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Second Appraisal. Is defined in Section 5:5-8(c)(v).
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Second Appraisal shall have the meaning ascribed to such term in Section 11.2.
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Examples of Second Appraisal in a sentence

  • If a majority of the appraisers are unable to set the Fair Market Value within the Second Appraisal Period, the three (3) appraisers shall individually render separate appraisals of the Fair Market Value, and their three (3) appraisals shall be added together, then divided by three (3); resulting in an average of the appraisals, which shall be the Fair Market Value during the Extended Term.

  • The cost of the First Appraisal shall be borne by Sublessor, and the cost of the Second Appraisal shall be borne by Sublessee.

  • In the event Sublessor shall deem the Second Appraisal to be unacceptable, then Sublessor shall advise Sublessee within ten (10) working days after receipt of the Second Appraisal, and the first appraiser and second appraiser shall together choose a third appraiser with at least ten (10) years’ experience in the oil and gas appraisal sector who shall appraise the Leasehold Improvements (“Third Appraisal”) and forward the appraisal report to Sublessor and Sublessee.

  • If the Second Appraisal is less than the Initial Valuation, the Initial Valuation shall be binding upon the parties.

  • The Second Appraisal must state that it can be relied on by all Parties.

  • If the Company complies with the requirements of the preceding sentence, the Second Appraisal shall be binding upon the Company and the Holder as the appraised value of the Company unless the Holder shall notify the Company of its objection to such Second Appraisal within 30 days of the Holder's receipt of the Second Appraisal.

  • If a Second Appraisal is not obtained in such time, then Fair Market Rent will be the amount determined in the Lessee’s Appraisal.

  • Within 30 days after the selection of the third appraiser (the "Second Appraisal Period") the Fair Market Value for the Extended Term shall be set by a majority of the appraisers now appointed.

  • Immediately after the Second Appraisal Notice is delivered, each of the first two appraisers must act promptly, reasonably and in good faith to try to reach agreement upon the third appraiser.

  • If, following the second Appraisal Process, the Putting Party determines that it is not satisfied in its sole discretion, with the Appraisal Price (which determination it shall make within fifteen (15) days of completion of the Appraisal Process (the “Second Appraisal Deadline”)), then it may elect to initiate the Appraisal Process a third time (the “Third Election”), provided that the Putting Party may not make a Third Election within twelve (12) months of the Second Appraisal Deadline.

Related to Second Appraisal

  • Third Appraiser has the meaning set forth in Section 6.04(b) hereof.

  • Updated Appraisal means an Appraisal of the Mortgaged Property or related REO Property, as the case may be, conducted subsequent to any Appraisal performed on or prior to the date of this Agreement by an Appraiser, selected by the applicable Servicer, in accordance with MAI standards, the costs of which shall be paid as a Property Advance by the Lead Securitization Note Holder or applicable Servicer.

  • Current Appraisal With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its own expense from an independent appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Company as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Company's customary requirements for such appraisals. Election to Delay Foreclosure: Any election by the Purchaser to delay the Commencement of Foreclosure, made in accordance with Section 2.02(b).

  • Acceptable Appraisal means, with respect to an appraisal of Inventory, the most recent appraisal of such property received by Agent (a) from an appraisal company satisfactory to Agent, (b) the scope and methodology (including, to the extent relevant, any sampling procedure employed by such appraisal company) of which are satisfactory to Agent, and (c) the results of which are satisfactory to Agent, in each case, in Agent’s Permitted Discretion.

  • Required Appraisal shall have the meaning provided in Section 8.11(g).