Timberland Value definition

Timberland Value means, except for High Value Timberland, an amount equal to the per acre amount for Timberland determined in the most recent valuation update delivered under the Credit Agreement or otherwise obtained by the Parent or any of its Restricted Subsidiaries multiplied by the number of acres to which such valuation applied.
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Examples of Timberland Value in a sentence

  • Provided there is no Event of Default or Incipient Default, Borrower may request a partial release of Collateral, to the extent that the total outstanding principal balances of the Loans and the PCA Loans does not exceed 35% of the Biennial Appraised Timberland Value following the release.

  • Borrower will limit outstanding principal balances of the Loans on Collateral to fifty percent (50%) of the aggregate Appraised Timberland Value of such Collateral at all times during the life of the Loan.

  • Provided there is no Event of Default or Incipient Default, Borrower may request a partial release of Collateral, to the extent that the total outstanding principal balances of the Loans and the FLCA Loans does not exceed 35% of the Biennial Appraised Timberland Value following the release.

  • Provided there is no Event of Default or Incipient Default, Borrower may request a partial release of Collateral, to the extent that the total outstanding principal balances of the Loan(s) and the FLCA Loans does not exceed 35% of the Biennial Appraised Timberland Value following the release.

  • If, at the time of such partial release request, the most recent Appraised Timberland Value is an Appraisal Update, Lender may require a new Certified Appraisal be received prior to such release.

  • Borrower shall not at any time permit the ratio of (i) the sum of Timberland Value, plus High Value Timberland Amount, plus the Raw Entitled Land Value with respect to any Raw Entitled Land that is part of the Mortgaged Property, and plus Mineral Business Enterprise Value to (ii) the aggregate Commitments (after giving effect to any reductions in the aggregate Commitments on such day), to be less than 1.60:1.0.

  • The sum of the outstanding balances of the Loans and the PCA Loans divided by (i) the most recent Biennial Appraised Timberland Value or (ii) any appraisal ordered by Lender pursuant to Section 7.01 f., shall not in each case exceed 50%, to be measured as of each Fiscal Year-End and the date of such appraisal, respectively.