Initial Appraisal definition

Initial Appraisal. With respect to any Mortgage Loan, the Appraisal made for the Mortgage Loan's originator in connection with its origination, which must be included in the related Mortgage File.

Initial Appraisal means, (i) with respect to FAA Slots, the reports of MBA dated May 24, 2016 and November 30, 2016, (ii) with respect to Flight Simulators, the report of

Initial Appraisal means the report of Sage dated March 10, 2016, as delivered to the Administrative Agent by the Borrower pursuant to Section 4.01(d).

Examples of Initial Appraisal in a sentence

• The Administrative Agent shall have received (x) the Initial Appraisal in form reasonably satisfactory to the Administrative Agent, and (y) an Officer’s Certificate from a Responsible Officer of the Borrower demonstrating that, using the Appraised Value listed in the Initial Appraisal, on the Closing Date and after giving effect to the Extensions of Credit to be made on such date, the Collateral Coverage Ratio shall be no less than 1.6 to 1.0.

• All improvements which were considered in determining the Appraised Value of the related Mortgaged Property in the Initial Appraisal lay wholly within the boundaries and building restriction lines of the Mortgaged Property and no improvements on adjoining properties encroach upon the Mortgaged Property.

• The Administrative Agent shall have received the Initial Appraisal Report and such Initial Appraisal Report shall demonstrate that, on the Closing Date, and after giving effect to the Transactions, the Borrower shall be in compliance on a pro forma basis with Section 6.03.

• Upon receipt of the Initial Appraisal report, Purchaser shall promptly provide Seller with a copy.

• The Administrative Agent shall have received the Initial Appraisal Report and such Initial Appraisal Report shall demonstrate that, on the Closing Date, and after giving effect to the Transactions, the Borrower shall be in compliance on a pro forma basis with ‎Section 6.03.

More Definitions of Initial Appraisal

Initial Appraisal means a new appraisal of the Borrower’s Inventory performed by an independent appraiser (other than the initial desktop appraisal).

Initial Appraisal means a Desktop Appraisal, undertaken at Borrower’s sole expense, as to the fair market value of the Equipment owned by the Borrower on the Closing Date.

Initial Appraisal has the meaning assigned to such term in Section 5.07(b).

Initial Appraisal means (a) with respect to the Aircraft or Engines, each of the appraisals of MBA dated March 27, 2020, and the appraisal of ASG dated March 27, 2020,

Initial Appraisal means the initial summary rating of the career appointee’s performance made by the supervising official (normally the immediate supervisor) as part of the annual performance appraisal process [information on performance appraisals, Chapter 5]. It does not include a recommendation by a higher-level reviewer or the annual summary rating made by the appointing authority.

Initial Appraisal means the report of MBA dated May 16, 2014 delivered to the Administrative Agent by the Borrower pursuant to Section 4.01(e).

Initial Appraisal means the Appraisal (as defined in the Existing Credit Agreement) last delivered to the Existing Lenders pursuant to Section 5.07 of the Existing Credit Agreement prior to the Restatement Effective Date.