Frequency of Appraisals Sample Clauses

Frequency of Appraisals. The As-Is Appraised Value of a Collateral Property shall be determined or redetermined, as applicable, pursuant to Appraisals conducted under each of the following circumstances: (i) In connection with the proposal of a Property as a Collateral Property pursuant to Section 7.15(a), which shall include, without limitation, in connection with the initial encumbrance of the Initial Collateral Properties with Security Instruments; (ii) If any Default or Event of Default exists, upon written request from the Administrative Agent to the Borrower; (iii) If necessary in order to comply with FIRREA, other Applicable Law or the requirements of any Governmental Authority relating to the Administrative Agent or any of the Lenders; and (iv) Upon written request from the Administrative Agent to the Borrower, not more than once every 12 months with respect to each Collateral Property. All Appraisals shall be engaged by the Administrative Agent at the Borrower’s expense and shall be subject to satisfactory review and approval of the Administrative Agent. Notwithstanding anything to the contrary herein, each Lender may conduct Appraisals of any Collateral Property at any time at such Lender’s expense; provided that, for the avoidance of doubt, such Appraisal shall not be used in determining or redetermining the As-Is Appraised Value of a Collateral Property.

Frequency of Appraisals. Except for annual appraisal surveys, regular members in Satisfactory status shall be appraised once every three academic years. Time spent on leave may postpone, but not cancel, an appraisal. Additional appraisals focusing on specific areas may occur with the concurrence of the Department Chair, ▇▇▇▇ and appropriate Vice President with notification to the appropriate WVMFT, AFT 6554 grievance officer if:

Frequency of Appraisals. The Appraised Value of a Collateral Property shall be determined or redetermined, as applicable, under each of the following circumstances: (a) In connection with the acceptance of a Property as a Collateral Property the Agent will determine the Appraised Value thereof as provided in Section 4.1.; or (b) From time to time upon at least 5 Business Days written notice to the Borrower and at the Borrower’s expense, the Agent may (and shall at the direction of the Requisite Lenders) redetermine the Appraised Value of a Collateral Property (based on a new Appraisal obtained by the Agent) in any of the following circumstances: (i) if necessary in order to comply with FIRREA or other Applicable Law relating to the Agent or the Lenders; (ii) if the Agent determines an Appraisal of such Property is necessary in connection with its determination under Section 4.2.(b) regarding the release of a Collateral Property; (iii) with respect to Non-Stabilized Properties, upon (i) the cancellation or termination of a Major Lease (other than with the express prior written consent of the Agent or pursuant to the terms of such Major Lease) or (ii) upon the occurrence of a breach of the terms of a Major Lease which breach (A) would allow a Major Tenant to cancel, terminate, revoke or rescind a Major Lease within a specified period of time and (B) continues for 30 days (or, if such condition or breach is not reasonably capable of being cured within such 30 day period, such additional period of time as may be required in order to cure such condition or breach not to exceed 60 days); or (iv) upon the occurrence and during the continuation of an Event of Default; or (c) At any time during the period commencing 18 months after the later of (i) the Effective Date or (ii) the date a Non-Stabilized Property is admitted as a Collateral Property, and ending on the date 6 months prior to the Termination Date, the Agent may (and shall at the written direction of the Requisite Lenders) determine or redetermine the Appraised Value of a Non-Stabilized Property which is a Collateral Property (based on a new Appraisal obtained by the Agent), at the Borrower’s expense; or (d) Upon a Collateral Property initially classified as a Stabilized Property becoming a Non-Stabilized Property.

Frequency of Appraisals. The Appraised Value of a Borrowing Base Property shall be determined or re-determined, as applicable, under each of the following circumstances: (a) In connection with the acceptance of a Property as a Borrowing Base Property Lender will determine the Appraised Value thereof as provided in Section 4.1; (b) From time to time upon at least five (5) Banking Days written notice to Borrower and at Borrower's expense, Lender may re-determine the Appraised Value of a Borrowing Base Property in any of the following circumstances: (i) if necessary in order to comply with FIRREA, other applicable laws related to Lender, or requests by a Governmental Authority; (ii) if Lender determines such Property contains structural defects, title defects, environmental conditions or other adverse matters material to the profitable operation of such Property (including, without limitation, negligent acts or omissions by Borrower with respect to the operation of such Property) and Lender has not declared such Property ineligible pursuant to Section 4.1(d) ; or (iii) upon the occurrence of a Default or Event of Default. (iv) At any time and from time to time, Lender may re-determine, at its own expense, the Appraised Value of a Borrowing Base Property; (v) If Borrower has requested a Property Release; or (vi) Upon Borrower's written request to Lender and at Borrower's expense, but not more frequently than one (1) time per calendar year per Borrowing Base Property, Lender shall re-determine the Appraised Value of any Borrowing Base Property.

Frequency of Appraisals. The Appraised Value of each Borrowing Base Property shall be determined or redetermined, as applicable, Borrower’s expense, under each of the following circumstances: (a) in connection with the acceptance of a Property as a Borrowing Base Property; (b) in connection with the exercise of Borrower’s option to extend the Maturity Date pursuant to Section 2.11; (c) at any time an Event of Default has occurred and is continuing; (d) if Administrative Agent determines an Appraisal of such Property is necessary in connection with its determination under Section 4.2 regarding the release of a Borrowing Base Property; (e) if necessary in order to comply with FIRREA or other Applicable Law relating to Administrative Agent or any Lender; or (f) at any other time for any reason, but not more frequently than once per year during the term of the Loans. At any other time and from time to time, Administrative Agent may (and shall at the written direction of the Requisite Lenders) redetermine the Appraised Value of a Borrowing Base Property (based on a new Appraisal obtained by Administrative Agent), at the Lenders’ expense.

Frequency of Appraisals. Non-tenured teachers shall be formally appraised at least twice each school term. Tenured teachers shall be appraised formally at least once biennially.

Frequency of Appraisals. 31 Section 4.3. Frequency of Calculations of Borrowing Base............32 ------------- * This Table of Contents is not part of the Credit Agreement and is provided as a convenience only.

Frequency of Appraisals. The Appraised Value of a Collateral Property shall be determined or redetermined, as applicable, under each of the following circumstances: (a) In connection with the acceptance of a Property as a Collateral Property the Agent shall determine the Appraised Value thereof as provided in Section 4.1.; (b) From time to time upon at least 5 Business Days written notice to the Borrower and at the Borrower’s expense, the Agent may (and shall at the direction of the Requisite Lenders) redetermine the Appraised Value of a Collateral Property (based on a new Appraisal obtained by the Agent) if a new Appraisal of such Collateral Property has been obtained pursuant to the terms of Section 4.6.; (c) Following any “Casualty Event” under and as defined in any Security Deed or any “Condemnation Event” under and as defined in any Security Deed; and (d) Upon the Borrower’s written request for a redetermination of the Appraised Value of a Property, the Agent shall redetermine the Appraised Value of such Property (based on a new Appraisal of such Property obtained by the Agent), all at the Borrower’s expense; provided, that the Borrower may request a new Appraisal of a Property pursuant to this subsection only 2 times.

Frequency of Appraisals. Section 6.10(c) of the Credit Agreement is hereby amended by deleting the third sentence of such Section and replacing it with the following sentence: “Without limiting the foregoing, the Loan Parties acknowledge that the Administrative Agent shall undertake two (2) appraisals each Fiscal Year at the Loan Parties’ expense; provided, that, if Availability is less than the amount equal to twenty-five percent (25%) of the Loan Cap at any time during a Fiscal Year, the Administrative Agent shall undertake three (3) appraisals in each such Fiscal Year at the Loan Parties’ expense.”