Third Valuation definition

Third Valuation shall have the meaning assigned to such term in Section 5.16.

Third Valuation is defined in Exhibit E of this Lease.

Third Valuation shall have the meaning set forth in Section 4.5(a) of this Agreement.

Examples of Third Valuation in a sentence

• The average value of any First Valuation, Second Valuation (to the extent obtained as provided above) and Third Valuation (to the extent obtained as provided above) of any Mortgaged Vessel shall constitute the Valuation of such Mortgaged Vessel for all purposes under the Loan Documents until any subsequent Valuation of such Mortgaged Vessel is obtained in accordance with this Section 5.16.

• The average value of any First Valuation, Second Valuation (to the extent obtained as provided above) and Third Valuation (to the extent obtained as provided above) of the Mortgaged Vessel shall constitute the Valuation of the Mortgaged Vessel for all purposes under the Loan Documents until any subsequent Valuation of the Mortgaged Vessel is obtained in accordance with this Section 5.16.

• In the event, however, that the difference between the First Valuation and the Second Valuation in respect to the lowest value of the Vessel in question determined by each of them is more than ten per cent (10%), the Agent may obtain a third valuation from an Approved Shipbroker (the "Third Valuation"), and the average of the values determined by each of the First Valuation, the Second Valuation and the Third Valuation shall constitute the value of the Vessel in question.

• Each Member shall pay the fees and expenses of the arbitrator appointed by it and the fees and expenses of the Third Valuation Arbitrator shall be divided equally between them.

• In the event the arbitrators shall fail to appoint or agree upon a Third Valuation Arbitrator within said ten (10) day period, then the Third Valuation Arbitrator shall be selected by the parties, if they so agree upon such Third Valuation Arbitrator within a further period of five (5) business days.

More Definitions of Third Valuation

Third Valuation has the meaning as set forth in Section 11.5.

Third Valuation has the meaning assigned to such term in Section 1.9 of Schedule 2.4(iii).

Third Valuation is defined in Exhibit F of this Lease.

Third Valuation. Section 7.1(b)(iv)

Third Valuation shall have the meaning set froth in Section 4.2(a)(ii).

Third Valuation has the meaning assigned to such term in Exhibit F.

Third Valuation has the meaning as set forth in Section 11.5. “Third Valuation Agent” means any independent broker (other than the Initial Valuation Agent and the Second Valuation Agent) acceptable to the Borrower and the Required Lenders undertaken to determine the Third Valuation. “Three Month LIBOR Rate” means the LIBOR Rate for an Interest Period of three months in effect on the day of such prepayment or acceleration. “Total Net Leverage Ratio” means, at any date, the ratio of (a) aggregate outstanding consolidated Debt of the Borrower and its Subsidiaries (net of any unrestricted cash and Cash Equivalents and Warehousing Debt secured by loans available for sale) on such date to (b) consolidated Tangible Net Worth of the Borrower and its Subsidiaries for the most recently ended Test Period. “Transactions” means collectively, the transactions to occur on or prior to the Closing Date including the execution, delivery and performance of the Loan Documents, the initial borrowings hereunder and the use of proceeds thereof. “Triple Net Leased Property” means any real property that is the subject of a lease pursuant to which the renter of such property is responsible for net real estate taxes, net building insurance, and net common area maintenance relating to the real property (in addition to the rental fee). “Trustee”: means Wilmington Trust, National Association, as Grantor Trust Trustee under the Trust Agreement.