Asset Valuation Practices Sample Clauses

Asset Valuation Practices. (a) Valuation of Immovable Contracted Assets and Essential Movable Contracted Assets based on the Depreciated Replacement Value (DRV)_ of assets shall be carried out in accordance with the most recent guidelines of the Assets Valuation Standards Committee, Statements of Asset Valuation Practice and Guidance Notes, The Royal Institut ion of Chartered Surveyors, United Kingdom, publication dated January 1995 or as amended from time to time. (b) The valuation of Immovable Contracted Assets and Essential Movable Contracted Assets, which are still under construction and/or yet to be commissioned (i.e. Capital Work in Progress), shall be based on the Book Value of such assets. (The guidelines set forth in Annexure 4 shall also be applicable for the purpose of such valuation). (c) For the valuation of Immovable Contracted Assets and Essentia l Movable Contracted Assets based on the Depreciated Historical Cost, depreciation shall be calculated on straight line basis. The life span of the assets for the purpose of depreciation and the original cost of such assets shall be as prescribed and set forth in Annexure 4. (d) The asset value of each asset computed as per the above guidelines shall be termed as the “Fair Value”. (e) In computing the Fair Value of assets in the following events, no account shall be taken for any diminution in value attributable to: i) Licensor Default or ii) GoG/ GoI Change in Law (f) The valuation of assets and the compensation payable shall be entirely denominated in Indian rupees. (g) For avoidance of doubt, it is hereby clarified that valuation of assets both Immovable Contracted Assets and Essential Movable Contracted Assets shall not be done on a "going concern" basis.
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Related to Asset Valuation Practices

  • Collection Practices The collection practices used by the Servicer with respect to each Mortgage Note and Mortgage have been in all respects legal, proper and prudent in the mortgage servicing business;

  • Credit Reporting For each Mortgage Loan, the Company shall accurately and fully furnish, in accordance with the Fair Credit Reporting Act and its implementing regulations, accurate and complete information on its borrower credit files to each of the following credit repositories: Equifax Credit Information Services, Inc., TransUnion, LLC and Experian Information Solution, Inc. on a monthly basis.

  • Collection Practices; Escrow Deposits The origination and collection practices used with respect to the Mortgage Loan have been in accordance with Accepted Servicing Practices, and have been in all material respects legal and proper. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of the Company and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments have been collected in full compliance with state and federal law. No escrow deposits or Escrow Payments or other charges or payments due the Company have been capitalized under the Mortgage Note;

  • Credit Reporting; Gramm-Leach-Bliley Act (a) With respect to each Mortgage Loan, each Se▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇ully furnish, in accordance with the Fair Credit Reporting Act and its implementing regulations, accurate and complete information (e.g., favorable and unfavorable) on its borrower credit files to Equifax, Experian and TransUnion Credit Information Company (three of the credit repositories), on a monthly basis. (b) Each Servicer shall comply with Title V of the Gramm-Leach-Bliley Act of 1999 and all applicable regulations promulgat▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ating to the Mortgage Loans required to be serviced by it and the related borrowers and shall provide all required notices thereunder.

  • Payable Practices No Borrower or Subsidiary has made any material change in its historical accounts payable practices from those in effect on the Closing Date.