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Appraisals
Appraisals contract clause examples

Appraisals. The Administrative Agent shall have received appraisals of the Borrowers’ Inventory from one or more firms satisfactory to the Administrative Agent, which appraisals shall be satisfactory to the Administrative Agent.

Appraisals. Agent may, in its sole discretion, exercised in a commercially reasonable manner, at any time after the Closing Date and from time to time, engage the services of an independent appraisal firm or firms of reputable standing, satisfactory to Agent, for the purpose of appraising then current values of Loan Parties’ assets. Unless an Event of Default shall have occurred and be continuing at such time, Agent shall consult with Loan Parties as to the identity of any such firm. In the event the value of Loan Parties’ assets included in the Formula Amount as so determined pursuant to such appraisal is less than anticipated by Agent such that the Revolving Advances are in excess of such Advances permitted hereunder, then, promptly upon Agent’s demand for same, Borrowers shall make mandatory prepayments of the then outstanding Revolving Advances so as to eliminate the excess Advances. Nothing in this Section 4.7 shall contradict any of the provisions of Section 3.4(d). Notwithstanding anything to the contrary provided for in this Agreement, Loan Parties’ liability for the Appraisal Costs in connection with

Appraisals. Borrowers shall pay to Agent, for its sole and separate account and not the account of any Lender, promptly at the conclusion of any appraisal of any Loan Parties’ assets obtained by Agent in accordance with the terms of Section 4.7, the out-of-pocket costs and expenses incurred by Agent in obtaining such appraisal (as to any such appraisal, the “Appraisal Costs”), in full and without deduction, off-set or counterclaim by Borrowers; provided that, notwithstanding the foregoing or anything to the contrary otherwise in this Agreement, in the

Appraisals. The initial Appraisal of any underlying real property collateral securing any Borrower Loan (including, without limitation, any Appraisals of the underlying real property collateral securing the Borrower Loans comprising the Initial Loan Collateral) shall be provided by Borrower to Lender, at Borrower’s expense.

Appraisals. The initial Appraisal of any underlying real property collateral securing any Borrower Loan (including, without limitation, any Appraisals of the underlying real property collateral securing the Borrower Loans comprising the Initial Loan Collateral) shall be provided by Borrower to Lender, at Borrower’s expense.

Appraisals. The Administrative Agent may, in its sole discretion, exercised in a commercially reasonable manner, at any time after the Closing Date and from time to time, engage the services of an independent appraisal firm or firms of reputable standing, satisfactory to such Administrative Agent, for the purpose of appraising the then current values of Loan Parties’ assets; provided however that so long as no Default or Event of Default is continuing, Borrowers shall not be liable for the costs or expense of more than two appraisals in any fiscal year. Absent the occurrence and continuance of an Event of Default at such time, the Administrative Agent shall consult with Loan Parties as to the identity of any such firm and Administrative Agent shall use their best efforts to coordinate such appraisals in conjunction with any inspections or field examination performed pursuant to Section 4.6; provided that Borrowers acknowledge and agree that the timing of such appraisals is subject to availability of the appraisers. In the event the value of Borrowers’ assets, as so determined pursuant to such appraisal, is less than anticipated by Administrative Agent or Lenders, such that the Revolving Advances are in excess of such Advances permitted hereunder, then, promptly upon Administrative Agent’s demand for same, Loan Parties shall make mandatory prepayments of the then outstanding Revolving Advances so as to eliminate the excess Advances.

Appraisals. The initial Appraisal of any underlying real property collateral securing any Borrower Loan (including, without limitation, any Appraisals of the underlying real property collateral securing the Borrower Loans comprising the Initial Loan Collateral) shall be provided by Borrower to Lender, at Borrower’s expense.

Appraisals. Agent may, in its sole discretion, exercised in a commercially reasonable manner, at any time after the Closing Date, engage the services of an independent appraisal firm or firms of reputable standing, satisfactory to Agent, for the purpose of appraising the then current values of Borrowers’ Inventory; provided that, other than during the continuance of any Event of Default, such appraisal shall be conducted no more frequently than four times per fiscal year. Absent the occurrence and continuance of an Event of Default at such time, Agent shall consult with Borrowers as to the identity of any such firm. In the event the value of Borrowers’ Inventory, as so determined pursuant to such appraisal, is less than anticipated by Agent or Lenders, such that the Revolving Advances against Eligible Inventory are in fact in excess of such Advances permitted hereunder, then, promptly upon Agent’s demand for same, Borrowers shall make mandatory prepayments of the then outstanding Revolving Advances made against such Eligible Inventory so as to eliminate the excess Advances.

Appraisals. The initial Appraisal of any underlying real property collateral securing any Borrower Loan (including, without limitation, any Appraisals of the underlying real property collateral securing the Borrower Loans comprising the Initial Loan Collateral) shall be provided by Borrower to Lender, at Borrower’s expense.

Appraisals. In addition to the foregoing, Company shall, at the request of Collateral Agent, deliver to Collateral Agent, not more than once every two (2) years (or more frequently if required by applicable law or regulation) such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Mortgage.

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