Common use of Orderly Liquidation Value Clause in Contracts

Orderly Liquidation Value. The “Orderly Liquidation Value” of any Vessel shall have the meaning customarily attributed to it in the equipment appraisal industry at the time of the valuation, less the estimated marshalling, reconditioning and sale expenses designed to maximize the resale value of such Vessel (as determined by the appraisal firm referred to above). The appraisal firm’s valuation shall be made with or without physical inspection at the Agent’s discretion.

Orderly Liquidation Value. The “Orderly Liquidation Value” of any the Vessel shall have the meaning customarily attributed to it in the equipment appraisal industry at the time of the valuation, less the estimated marshallingmarshaling, reconditioning and sale expenses designed to maximize the resale value of such the Vessel (as determined by the appraisal firm referred to above). The appraisal firm’s valuation shall be made with or without physical inspection at the AgentLender’s discretion; provided however, that no more than one physical inspection shall be permitted in any one twelve (12) month period.

Orderly Liquidation Value. The “"Orderly Liquidation Value” " of any Vessel shall have the meaning customarily attributed to it in the equipment appraisal industry at the time of the valuation, less the estimated marshalling, reconditioning and sale expenses designed to maximize the resale value of such Vessel (as determined by the appraisal firm referred to above). The appraisal firm’s 's valuation shall be made with or without physical inspection at the Agent’s 's discretion; PROVIDED HOWEVER, that no more than one physical inspection shall be permitted in any one twelve (12) month period.