Property Value Clause Samples
The Property Value clause defines the agreed-upon worth of a property for the purposes of a contract or transaction. It typically specifies how the value is determined, such as by appraisal, market analysis, or mutual agreement, and may set a fixed amount or a method for adjustment if needed. This clause ensures both parties have a clear understanding of the property's value, which is essential for calculating payments, taxes, or damages, and helps prevent disputes over valuation during the course of the agreement.
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Property Value. You determine in good faith that the value of the Property is materially impaired.
Property Value. For purposes of this Agreement and except as otherwise provided, “Property Value” shall mean the fair market value, as of the date of determination, of all of the assets of the Company, including, without limitation, the Property, without regard to any indebtedness secured thereby or any liens, claims and encumbrances upon such assets. The Property Value shall be determined by three appraisers licensed by the American Institute of Appraisers and experienced in appraising real estate similar to the Property, one of which shall be selected by each of the Class A Member and the Manager no later than ten (10) days following the Removal Date and the third of which to be selected by the two appraisers so selected no later than ten (10) days following the selection of such appraisers. In the event either such party fails to select an appraiser within the required period, then the other party shall select the second appraiser. In the event the two appraisers selected fail to select a third appraiser within the required period, then the Property Value shall be determined through the arbitration process provided by Article XIV. Within sixty (60) days after the final selection, the appraisers so selected shall each determine a Property Value as of the specified date and provide a report with respect thereto addressed and on behalf of the Class A Member and the Manager. The average of the two Property Values so determined that are closest in amount shall then be the Property Value for purposes of this Section 12.3(b). The Company shall pay all the costs of the appraisers.
Property Value. With respect to a HELOC, Seller has delivered to Administrative Agent a BPO valuation and valuation date given by a licensed real estate agent or broker in conformity with customary and usual business practices, which includes comparable sales and comparable listings and complies with the criteria set forth in FIRREA for an “appraisal” or an “evaluation”, as applicable, and such other information in further compliance with this Agreement. The person performing any BPO received no benefit from, and such person’s compensation or flow of business from the Sellers were not affected by, the acquisition of the Mortgage Loan by the Sellers or any other applicable transferee.
Property Value. The fair market value of the Real Property is greater than the face amount of the Securities; Pledgor has received reasonably equivalent value in exchange for the transfers contemplated by the Defeasance Documents;
Property Value. You determine in good faith that the value of the Property has declined or is impaired.
Property Value. The value of the Property declines or is impaired.
Property Value. Lender determines in good faith that the value of the Property has declined or is impaired.
Property Value. “Property Value” shall have the meaning set forth in Section 16.2.1 below.
Property Value. LICENSEE acknowledges that the Property has great value and associated goodwill because the public and the industry associate the Property with goods having consistently high quality that are sold primarily by retailers of high repute who sell primarily high quality goods and who maintain high merchandising standards. LICENSEE shall use its commercially reasonable efforts to preserve the value and goodwill of the Property and to cooperate with LICENSOR's efforts to preserve their value and goodwill as contemplated by this Agreement.
Property Value. Seller has delivered an appraisal or a property valuation acceptable to the Buyer in its sole discretion, as applicable. The person performing such property valuation received no benefit from, and such person’s compensation or flow of business from the Seller were not affected by, the acquisition of the HELOC by the Seller or any other applicable transferee.