Third Appraisal Sample Clauses

Third Appraisal. If the higher fair market value of the two appraisals exceeds the lower fair market value by more than 10% of the lower fair market value and, as of the eleventh (11th) day following the submission of both appraisal reports, neither party has sent written notice calling for a third appraiser, the Appraisal Process shall be concluded and the fair market value of the property in question shall be the average of the two fair market values as set forth in the two appraisal reports. If, however, the higher fair market value exceeds the lower fair market value by more than 10% of the lower fair market value and, within ten (10) days following the submission of the first two appraisers' reports, either party sends written notice to the other calling for a third appraiser, the two previously-selected appraisers shall promptly (but in any event within thirty (30) days following the submission of both appraisal reports) select a third appraiser to determine the fair market value of the property in question. The first two appraisers shall notify the Company, which shall in turn notify the owner of the shares of Stock and all other Stockholders, of the name and address of the third appraiser so selected; provided, however, that if the Company has not received notice of the name and address of the third appraiser within such thirty (30) day period, then the fair market value of the property in question shall be the average of the two appraisals that have been completed. Neither the previously selected appraisers, the Stockholder whose shares of Stock are being purchased, the Company, the Stockholders nor any Persons related to any of them shall disclose to the third appraiser the appraisal reports of the first two appraisers or the results of the first two appraisals. Within thirty (30) days following his appointment, the third appraiser shall submit to the owner of the shares of Stock and the Company his appraisal report, in which case the Appraisal Process shall be concluded and the fair market value of the property in question shall be the average of the two appraisals that are closest to each other.
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Third Appraisal. If either Groom or HDD objects to the Second Appraisal within the time period described in Section 2(d) of this Exhibit, the objecting party shall, within ten (10) days after delivery of the Second Objection Notice, designate a third Qualified Appraiser to serve as the third Designated Appraiser. Such third Designated Appraiser shall, within fourteen (14) days after designation, deliver to Groom and HDD a written report describing in reasonable detail its determination of the fair market value of the Trademark Assets by reference to the information contained in the First Appraisal and the Second Appraisal only and not by conducting an independent appraisal (the "Third Appraisal"). The fair market value of Trademark Assets for purposes of determining the Trademark Assets Valuation shall then be determined by disregarding the appraisal that diverges the greatest from each of the other two appraisals, and taking the arithmetic mean of the remaining two appraisals. The party who objected to the Second Appraisal shall pay all of the fees charged by the third Designated Appraiser and all other cost related to such third appraisal. EXHIBIT C Rights of Publicity Agreement
Sample 1Sample 2
Third Appraisal. Following his appointment, the Third Appraiser shall separately and independently (without consulting either of the other appraisers) detennine the ​ ​ Appraised Value or the Appraised Rate of Return (or both), as the case may be. The two appraisers appointed by the parties may communicate in writing with and provide the Third Appraiser with all background documentation and information that supports their respective appraisals, provided copies of all such communications are sent simultaneously to the other appraisers. Neither appraiser shall otherwise communicate directly or indirectly with the Third Appraiser, except to provide the Third Appraiser with the results of his appraisal no earlier than three (3) Business Days after delivery by the Third Appraiser of the results of his appraisal. Within five (5) Business Days after delivery by the Third Appraiser of the results of his appraisal, the three appraisers shall meet and attempt in good faith to agree upon the Appraised Value or the Appraised New Base Rent, as the case may be.
Sample 1
Third Appraisal. If the lower appraisal is less than 8095% of the higher appraisal, the appraisers who submitted the First Appraisal and the Second Appraisal shall then mutually select a third qualified independent appraiser to determine the fair market value of the Corporation as of the date of the occurrence of the event giving rise to the purchase and sale of the Seller’s Stock hereunder (the “Third Appraisal”). The Third Appraisal shall be completed within ninety days (90) days of the selection of the third appraiser, and the fair market value of the Corporation set forth in the Third Appraisal shall be averaged with either of the First Appraisal or the Second Appraisal, whichever of those two appraisals’ value is closest to the appraised value set forth in the Third Appraisal. The value so determined shall be the FMV as of the date of the occurrence of the event giving rise to the purchase and sale of the Seller’s Stock hereunder for the purposes hereof and shall be binding on the parties.
Sample 1
Third Appraisal. In the event that the Second Appraisal exceeds the Initial Valuation by an amount greater than 10 percent of the Initial Valuation, the Board and the Second Appraiser shall act in good faith to select a third appraiser who shall conduct a third appraisal (the “Third Appraisal”). Any Third Appraisal shall, in any event, be completed within 20 days following delivery to the Corporation of the Second Appraisal.
Sample 1
Third Appraisal. 11 Transfer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Transferee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 UCC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Sample 1

Related to Third Appraisal

  • The Appraisal The Mortgage Loan Documents contain an appraisal of the related Mortgaged Property by an appraiser who is licensed in the state where the Mortgaged Property is located, and who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof; and whose compensation is not affected by the approval or disapproval of the Mortgage Loan, and the appraisal and the appraiser both satisfy the applicable requirements of Title XI of the Financial Institution Reform, Recovery, and Enforcement Act of 1989 and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated;

  • Updated Appraisals For so long as the Loan remains outstanding, if any Event of Default shall occur hereunder, or if, in Lender’s judgment, a material depreciation in the value of the Land and/or the Improvements shall have occurred, then in any such event, Lender, may cause the Land and Improvements to be appraised by an appraiser selected by Lender, and in accordance with Lender’s appraisal guidelines and procedures then in effect, and Borrower agrees to cooperate in all respects with such appraisals and furnish to the appraisers all requested information regarding the Land and Improvements and the Facility. Borrower agrees to pay all reasonable costs incurred by Lender in connection with such appraisal which costs shall be secured by the Mortgage and shall accrue interest at the Default Rate until paid.

  • Real Estate Appraisals Company shall, and shall cause each of its Subsidiaries to, permit an independent real estate appraiser reasonably satisfactory to Administrative Agent, upon reasonable notice, to visit and inspect any Additional Mortgaged Property for the purpose of preparing an appraisal of such Additional Mortgaged Property satisfying the requirements of any applicable laws and regulations (in each case to the extent required under such laws and regulations as determined by Administrative Agent in its discretion).

  • Appraisal The Mortgage File contains an appraisal of the related Mortgaged Property with an appraisal date within 6 months of the Mortgage Loan origination date, and within 12 months of the Cut-off Date. The appraisal is signed by an appraiser that (i) was engaged directly by the originator of the Mortgage Loan or the Mortgage Loan Seller, or a correspondent or agent of the originator of the Mortgage Loan or the Mortgage Loan Seller, and (ii) to the Mortgage Loan Seller’s knowledge, had no interest, direct or indirect, in the Mortgaged Property or the Mortgagor or in any loan made on the security thereof, and whose compensation is not affected by the approval or disapproval of the Mortgage Loan. Each appraiser has represented in such appraisal or in a supplemental letter that the appraisal satisfies the requirements of the “Uniform Standards of Professional Appraisal Practice” as adopted by the Appraisal Standards Board of the Appraisal Foundation.

  • Inspections and Appraisals At all times during normal business hours, Laurus, and/or any agent of Laurus shall have the right to (a) have access to, visit, inspect, review, evaluate and make physical verification and appraisals of each Company’s properties and the Collateral, (b) inspect, audit and copy (or take originals if necessary) and make extracts from each Company’s Books and Records, including management letters prepared by the Accountants, and (c) discuss with each Company’s directors, principal officers, and independent accountants, each Company’s business, assets, liabilities, financial condition, results of operations and business prospects. Each Company will deliver to Laurus any instrument necessary for Laurus to obtain records from any service bureau maintaining records for such Company. If any internally prepared financial information, including that required under this Section is unsatisfactory in any manner to Laurus, Laurus may request that the Accountants review the same.

  • Inspections; Appraisals (a) Permit Agent from time to time, subject (except when a Default or Event of Default exists) to reasonable notice and normal business hours, to visit and inspect the Properties of any Borrower or Subsidiary, inspect, audit and make extracts from any Borrower’s or Subsidiary’s books and records, and discuss with its officers, employees, agents, advisors and independent accountants such Borrower’s or Subsidiary’s business, financial condition, assets, prospects and results of operations. Lenders may participate in any such visit or inspection, at their own expense. Neither Agent nor any Lender shall have any duty to any Borrower to make any inspection, nor to share any results of any inspection, appraisal or report with any Borrower. Borrowers acknowledge that all inspections, appraisals and reports are prepared by Agent and Lenders for their purposes, and Borrowers shall not be entitled to rely upon them.

  • Qualified Appraiser An appraiser, duly appointed by the Seller or the Originator, 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 the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated.

  • Independent Appraiser A Person with no material current or prior business or personal relationship with the Advisor or the Directors and who is a qualified appraiser of Real Property of the type held by the Company or of other Assets as determined by the Board. Membership in a nationally recognized appraisal society such as the American Institute of Real Estate Appraisers or the Society of Real Estate Appraisers shall be conclusive evidence of such qualification as to Real Property.

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