Common use of Frequency of valuations Clause in Contracts

Frequency of valuations. (a) The Borrowers shall provide the valuations of each Ship required pursuant to paragraph 4 of Part B of Schedule 4 at the Borrowers' expense; (b) the Agent shall be entitled to obtain 2 valuations per Ship during each half of each Fiscal Year of the Guarantor commencing on 31 December 2016 (such valuations to be attached to the Compliance Certificates for the relevant fiscal quarter to be provided by the Guarantor) setting forth the Fair Market Value of each Ship in each case at the cost of the Borrowers save that the Borrowers shall not be required to pay for more than 2 valuations per Ship in each calendar year unless an Event of Default has occurred or any valuation obtained would entitle the Agent to serve a notice pursuant to Clause 15.1 in which case such valuations required by the Agent shall be for the cost of the Borrowers; and (c) the Agent shall be entitled, at its own expense, to obtain valuations of each Ship other than those referred to in paragraphs (a) and (b) above as often as it may request.

Frequency of valuations. (ai) The Borrowers Borrower shall provide the valuations of each Ship required pursuant to paragraph 4 of Part B of Schedule 4 at the Borrowers' Borrower's expense; (bj) the Agent shall be entitled to obtain 2 valuations per Ship during each half of each Fiscal Year of the Guarantor Borrower commencing on 31 December 1 January 2016 (such valuations to be attached to the Compliance Certificates for the relevant fiscal quarter to be provided by the GuarantorBorrower) setting forth the Fair Market Value of each Ship in each case at the cost of the Borrowers Borrower save that the Borrowers Borrower shall not be required to pay for more than 2 sets of valuations per of each Ship in each calendar year unless an Event of Default has occurred or any valuation obtained would entitle the Agent to serve a notice pursuant to Clause 15.1 in which case such valuations required by the Agent shall be for the cost of the BorrowersBorrower; and (ck) the Agent shall be entitled, at its own expense, to obtain valuations of each Ship other than those referred to in paragraphs (a) and (b) above as often as it may request.

Frequency of valuations. (a) The Borrowers Borrower shall provide the valuations of each Ship required pursuant to paragraph 4 5 of Part B of Schedule 4 at the Borrowers' Borrower’s expense; (b) the Agent shall be entitled to obtain 2 valuations per Ship during each half of each Fiscal Year of the Guarantor Borrower commencing on 31 December 2016 30 June 2015 (such valuations to be attached to the Compliance Certificates for the relevant fiscal quarter to be provided by the GuarantorBorrower) setting forth the Fair Market Value of each Ship in each case at the cost of the Borrowers Borrower save that the Borrowers Borrower shall not be required to pay for more than 2 sets of valuations per of each Ship in each calendar year unless an Event of Default has occurred or any valuation obtained would entitle the Agent to serve a notice pursuant to Clause 15.1 in which case such valuations required by the Agent shall be for the cost of the BorrowersBorrower; and (c) the Agent shall be entitled, at its own expense, to obtain valuations of each Ship other than those referred to in paragraphs (a) and (b) above as often as it may request.

Frequency of valuations. (a) a. The Borrowers shall provide the valuations of each Ship required pursuant to paragraph 4 of Part B of Schedule 4 at the Borrowers' expense; (b) b. the Agent shall be entitled to obtain 2 valuations per Ship during each half of each Fiscal Year of the Guarantor commencing with valuation to be provided on 31 December 2016 30 June 2018 (such valuations to be attached to the Compliance Certificates for the relevant fiscal quarter to be provided by the Guarantor) setting forth the Fair Market Value of each Ship in each case at the cost of the Borrowers save that the Borrowers shall not be required to pay for more than 2 valuations per Ship in each calendar year unless an Event of Default has occurred or any valuation obtained would entitle the Agent to serve a notice pursuant to Clause 15.1 in which case such valuations required by the Agent shall be for the cost of the Borrowers; and (c) c. the Agent shall be entitled, at its own expense, to obtain valuations of each Ship other than those referred to in paragraphs (a) and (b) above as often as it may request.