Initial Appraisals definition

Initial Appraisals means, collectively, the report of (i) MBA setting forth the Appraised Value of the Pledged FAA Slots and related Pledged Gate Leaseholds and (ii) BK Associates, Inc. setting forth the Appraised Value of the Pledged Routes and related Pledged Foreign Slots and Pledged Gate Leaseholds, in each case, included in the Collateral on the Closing Date, as delivered to the Administrative Agent by the Borrower pursuant to Section 4.01.

Initial Appraisals means, collectively, the report of (i) MBA setting forth the Appraised Value of the Pledged FAA Slots and related Pledged Gate Leaseholds included in the Collateral on the Closing Date and (ii) ICF setting forth the Appraised Value of the Pledged Routes and related Pledged Foreign Slots and Pledged Gate Leaseholds included in the Collateral on the Closing Date, each as delivered to the Administrative Agent by the Borrower pursuant to Section 4.01.

Initial Appraisals shall have the meaning specified in Section 9.1(u).

Examples of Initial Appraisals in a sentence

• If the Fair Market Value set forth in each of the Initial Appraisals are within ten percent (10%) of one another (as measured against the higher of the two numbers), then the Fair Market Value shall equal the average of the values set forth in the Initial Appraisals.

• If the Fair Market Value set forth in the Initial Appraisals are not within ten percent (10%) of one another, then the Independent Appraisers shall appoint a third Independent Appraiser.

• The final Fair Market Value shall equal the average of the Fair Market Values set forth in the two appraisals that are nearest in amount; provided, however, that if the Fair Market Value in the Third Appraisal is within five percent (5%) of the average of the Initial Appraisals, the Third Appraisal shall be the Fair Market Value.

• In 2018, the European Parliament produced 64 Initial Appraisals of Commission impact assessments, one detailed appraisal of a Commission impact assessment and one full impact assessment, 17 ex-post European impact assessments, 6 other ex-post evaluations and 4 Implementation in action papers related to this.

• The Administrative Agent shall have received (x) the Initial Appraisals 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. (e) Opinions of Counsel.

More Definitions of Initial Appraisals

Initial Appraisals means Acceptable Appraisals delivered to the Administrative Agent with respect to each of the Properties at or prior to the Closing Date.

Initial Appraisals shall have the meaning set forth in Section 9.10(d).

Initial Appraisals means the appraisals prepared by an Approved Appraiser and delivered to CA CIB on June 6, 2017.

Initial Appraisals has the meaning specified in Section 3.1(i) (Conditions Precedent to Initial Loans and Letters of Credit).

Initial Appraisals means, individually or collectively (as the context may require), (i) the report of MBA setting forth the Appraised Value of the Pledged Spare Parts (which shall consist solely of Rotables and Repairables (each as defined in the Spare Parts Mortgage)) included in the Collateral on the Closing Date and (ii) if applicable, the report of MBA setting forth the Appraised Value of the Pledged Spare Parts included in the Collateral (but excluding the Pledged Spare Parts referenced in the foregoing clause (i)) on the second Funding Date, and consistent in all material respects with the methodology and form of presentation of the Initial Appraisals delivered on the Closing Date, each as delivered to the Administrative Agent by the Borrower pursuant to Section 4.02.

Initial Appraisals means, collectively, the report of (i) MBA setting forth the Appraised Value of the Pledged Slots and Pledged Gate Leaseholds, (ii) SH&E setting forth the Appraised Value of the Flight Simulators included in the Collateral on the Closing Date and (iii) AVITAS setting forth the Appraised Value of the Mortgaged Collateral included in the Collateral on the Closing Date, each as delivered to the Administrative Agent by the Co-Borrowers pursuant to Section 4.01.

Initial Appraisals means the Appraisals of the Collateral delivered pursuant to Section 4.03.