Common use of Frequency of valuations Clause in Contracts

Frequency of valuations. The Agent shall (at the cost of the Borrowers) obtain a valuation of each Ship which is required to determine its Market Value pursuant to this Clause 15.3 once every calendar year together with the Financial Year end Compliance Certificate thereafter throughout the Security Period commencing with the valuation to be provided or prior to the Delivery Date for such Ship.

Frequency of valuations. The Agent shall be entitled to obtain written valuations of the Ship prior to the drawdown of the Loan and any time during the Security Period, provided that after drawdown of the Loan the costs and expenses of such shall only be borne by the Borrower once per year (unless an Event of Default has occurred and is continuing, in which case the Agent shall be entitled to obtain a valuation at any time, at the cost and expense of the Borrowers) obtain a valuation of each Ship which is required to determine its Market Value pursuant to this Clause 15.3 once every calendar year together with the Financial Year end Compliance Certificate thereafter throughout the Security Period commencing with the valuation to be provided or prior to the Delivery Date for such ShipBorrower).

Frequency of valuations. The Borrowers shall provide the Agent shall (at the cost of the Borrowers) obtain with a valuation of each Ship Ship, dated as of December, on the date on which is required the Agent receives any financial statements in accordance with Clauses 11.6(a) for the period ending on the dates referred to determine its above in respect of which the Market Value pursuant to this Clause 15.3 once every calendar year together with of each Ship will be determined and the Financial Year end Compliance Certificate thereafter throughout the Security Period commencing in accordance with the valuation to be provided or prior to the Delivery Date for such ShipClause 11.20.