Vessel Appraisal definition

Vessel Appraisal means a written desktop appraisal of each Collateral Vessel delivered to the Administrative Agent and the Collateral Agent, in form, scope and methodology reasonably acceptable to the Collateral Agent and prepared by an Approved Broker, addressed to the Collateral Agent and upon which the Administrative Agent, the Collateral Agent and the Lenders are expressly permitted to rely.
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Vessel Appraisal means a written appraisal of the Eligible Vessels delivered to Agent, in form, scope and methodology reasonably acceptable to Agent in its Permitted Discretion and by Xxxxxx, Xxxxx & Xxxxxxx, Inc., Xxxxxxx Marine Services, Inc., or an appraiser reasonably acceptable to Agent and Parent, addressed to Agent and upon which Agent and Lenders are expressly permitted to rely.
Sample 1
Vessel Appraisal means a written appraisal of the Eligible ABL Priority Collateral Vessels delivered to the Collateral Agent, each of which appraisals shall consist of a written physical walk-around valuation (conducted in a fashion typical for such type of valuation and understood to exclude tank entry) or desktop appraisal (at the discretion of the Administrative Agent or the Collateral Agent) of each ABL Priority Collateral Vessel delivered to the Administrative Agent and the Collateral Agent, in form, scope and methodology reasonably acceptable to the Collateral Agent in its Permitted Discretion and prepared by an Approved Broker, addressed to the Collateral Agent and upon which the Administrative Agent, the Collateral Agent and the Lenders are expressly permitted to rely.
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Examples of Vessel Appraisal in a sentence

  • The Administrative Agent shall have received a recent Vessel Appraisal of each Collateral Vessel prepared by two Approved Brokers selected by the Borrower in form, scope and methodology reasonably acceptable to the Collateral Agent, addressed to the Collateral Agent and upon which the Administrative Agent, the Collateral Agent and the Lenders are expressly permitted to rely; provided that the Closing Date Appraisals shall be deemed to be acceptable for this purpose.

  • On the date of each Credit Extension and immediately after giving effect to the Loans incurred on such date, the Borrower shall be in compliance with Section 6.10(d), based on the most recent applicable Vessel Appraisal Value.

  • Agent and Security Trustee shall promptly, upon receipt thereof, forward to each Lender copies of the results of any field audit, examination, appraisal or Vessel Appraisal prepared by or on behalf of Agent or Security Trustee with respect to any Obligor or Collateral (“Report”).

  • Vessel Appraisal: a written appraisal of the Eligible Vessels delivered to Agent, in form, scope and methodology, and by an appraiser, reasonably acceptable to Agent, addressed to Agent and upon which Agent and Lenders are expressly permitted to rely.

  • The effort estimation depends upon the maintenance request (MR) which can range from the correction of spelling mistake to adding a new feature in the system.

  • On the Fourth Amendment Effective Date and immediately after giving effect to the Loans incurred on such date, the Borrower shall be in compliance with Sections 6.10(d), based on the most recent applicable Vessel Appraisal Value.

  • The Solent might offer a facility to service the Navitus Bay array, but also support other marine technology installations located on both sides of the channel.There may also be different requirements for Operation and Maintenance.

  • For purposes of this Section 6.10, the Fair Market Value of a Collateral Vessel at any time shall be as set forth in the Vessel Appraisal most recently delivered to the Administrative Agent pursuant to this Agreement from one (or, if requested by the Administrative Agent, two) Approved Brokers and determined on the basis of a charter-free arm’s length transaction between a willing and able buyer and a seller not under duress.

  • Such costs, expenses and advances include transfer fees, Other Taxes, storage fees, insurance costs, permit fees and utility reservation and standby fees, and reasonable legal fees, appraisal fees, Vessel Appraisal fees, brokers’ fees and commissions, auctioneers’ fees and commissions, accountants’ fees, environmental study fees, wages and salaries paid to employees of any Obligor or independent contractors in liquidating any Collateral, and travel expenses.


More Definitions of Vessel Appraisal

Vessel Appraisal means an appraisal of the Collateral consisting of the Vessels, to be conducted by an Approved Appraiser, at the sole cost and expense of the Borrowers.
Sample 1
Vessel Appraisal means a written appraisal of the Eligible Vessels delivered to Agent, in form, scope and methodology reasonably acceptable to Agent in good faith and by an appraiser reasonably acceptable to Agent, addressed to Agent and upon which Agent and Lenders are expressly permitted to rely. For purposes of this Agreement, except to the extent that circumstances or conditions may hereafter change that make appropriate any change in the form, scope or methodology of appraisals as Agent may determine in good faith, a desktop appraisal update conducted by Xxxxxx, Xxxxxx & Xxxxxxx, Inc. in alternate years subsequent to the recent appraisal (i.e. years 1, 3, 5, etc), with inspections in each other year (2, 4, etc.) of a representative sample of the fleet consisting of approximately 15% of the boats, 7.5% of the tankers, 5% of the dry cargo barges, and a brief walk-around of several of the fleet facilities, shall be acceptable to Agent.
Sample 1
Vessel Appraisal means a written desktop appraisal of each Collateral Vessel prepared by an Approved Broker.
Sample 1

Related to Vessel Appraisal

  • 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.

  • 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).

  • 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.

  • Inventory Appraisal means (a) on the Closing Date, the appraisal prepared by Great American Group dated June 2007 and (b) thereafter, the most recent inventory appraisal conducted by an independent appraisal firm pursuant to Section 9.2(b).

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

  • Appraisal shall have the meaning assigned to such term in the Servicing Agreement.

  • Control Appraisal Period shall exist with respect to the Mortgage Loan, if and for so long as:

  • PPRA wherever appearing means The Public Procurement Regulatory Authority or its successor(s) and assign(s) where the context so admits.

  • Independent Appraiser means a nationally recognized or major regional investment banking firm or firm of independent certified public accountants of recognized standing (which may be the firm that regularly examines the financial statements of the Issuer) that is regularly engaged in the business of appraising the Capital Stock or assets of corporations or other entities as going concerns, and which is not affiliated with either the Issuer or the Holder of any Warrant.

  • Required Appraisal Loan As defined in Section 3.19(a).

  • Conversion Valuation Appraisal Report Page: 4 ================================================================================

  • FIRREA The Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

  • Independent Engineering Report means a report, in form and substance satisfactory to the Administrative Agent and each of the Lenders, prepared by an Independent Engineer, addressed to the Administrative Agent and the Lenders with respect to the Oil and Gas Properties owned by the Borrower or its Subsidiaries (or to be acquired by the Borrower or any of its Subsidiaries, as applicable) which are or are to be included in the Borrowing Base, which report shall (a) specify the location, quantity, and type of the estimated Proven Reserves attributable to such Oil and Gas Properties, (b) contain a projection of the rate of production of such Oil and Gas Properties, (c) contain an estimate of the net operating revenues to be derived from the production and sale of Hydrocarbons from such Proven Reserves based on product price and cost escalation assumptions specified by the Administrative Agent and the Lenders, and (d) contain such other information as is customarily obtained from and provided in such reports or is otherwise reasonably requested by the Administrative Agent or any Lender.

  • Approved Appraiser means any of the following: Xxxxx Xxxxxxxx Xxxxxx, Xxxxx, H Xxxxxxxx & Co. Ltd., London, X.X. Xxxxxx Shipbrokers, Norway, or Fearnley AS, Norway.

  • Appraisal report A report setting forth the fair market value of a Mortgaged Property as determined by an appraiser who, at the time the appraisal was conducted, met the minimum qualifications of FNMA and FHLMC for appraisers of conventional residential mortgage loans.

  • Appraisal Well means a Well drilled pursuant to an Appraisal Programme.

  • Independent Engineer means XxXxxxxx and XxxXxxxxxxx or any other third party engineering firm acceptable to the Administrative Agent in its sole discretion.

  • Appraisal review means the act or process of developing

  • Uniform Standards of Professional Appraisal Practice means the current standards of the appraisal profession, developed for appraisers and users of appraisal services by the Appraisal Standards Board of the Appraisal Foundation.

  • Approved Third-Party Appraiser means each of (a) Xxxxxxxx Xxxxx Xxxxxx & Xxxxx Inc., (b) Lincoln International LLC (formerly known as Lincoln Partners LLC), (c) Duff & Xxxxxx Corporation, (d) Valuation Research Corporation, and (e) any other third party appraiser selected by the Borrower in its reasonable discretion.

  • Approved Valuer means a firm of valuers recognized as such by the Income Tax Department and having experience of valuing at least 5 (five) properties exceeding Rs. 100 cr. (Rupees one hundred crore) each in value;

  • CREFC® Appraisal Reduction Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Appraisal Reduction Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • parent engine means an engine selected from an engine family in such a way that its emissions characteristics will be representative for that engine family;

  • Appraised Value The value set forth in an appraisal made in connection with the origination of the related Mortgage Loan as the value of the Mortgaged Property.

  • Qualified Appraiser An appraiser, duly appointed by the Seller, who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof, and whose compensation was not affected by the approval or disapproval of the Mortgage Loan, and such appraiser and the appraisal made by such appraiser both satisfied the requirements of Title XI of FIRREA and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated.

  • Approved Petroleum Engineer means any reputable firm of independent petroleum engineers as shall be selected by Borrower and approved by Administrative Agent, such approval not to be unreasonably withheld.