Valuation Agent definition
Examples of Valuation Agent in a sentence
There shall be no limit on the number of such appraisals requested by the Administrative Agent or the Valuation Agent in its reasonable discretion; provided that, (i) any appraisal shall be conducted in a manner that is not disruptive to the Borrower’s business and (ii) the values determined by any appraisal shall be treated as confidential information by the Administrative Agent, the Valuation Agent and the Lenders and shall be deemed to be “Information” hereunder and subject to Section 9.13 hereof.
Each of the Lenders and the Issuing Banks hereby irrevocably appoints the Valuation Agent as its agent hereunder and authorizes the Valuation Agent to take such actions on its behalf and to exercise such powers as are delegated to the Valuation Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto.
The Borrower agrees to pay to each of the Administrative Agent and the Valuation Agent, as applicable, for its own account, fees payable in the amounts and at the times as set forth in the Administrative Agent Fee Letter dated as of the Effective Date between the Borrower and the Administrative Agent and in the applicable fee documentation between the Borrower and the Valuation Agent.
Each of the Administrative Agent and the Valuation Agent shall notify the Borrower of its receipt of results from an Independent Valuation Provider of any appraisal and provide a copy of the results and any related reports to the Borrower.
The Valuation Agent may resign by providing not less than thirty (30) days advance written notice to the Administrative Agent and the Borrower.