Common use of VALUATION OF THE PROPERTY Clause in Contracts

VALUATION OF THE PROPERTY. The Bank shall be entitled to require a revaluation of the Property by any of the valuers on the Bank’s panel at the cost and expense of the Customer(s) at any time prior to the release of the Bank’s Purchase Price. If the valuation report confirms that the open market value or any other value as may be required by the Bank in its absolute discretion is less than the Sale and Purchase Price, the Bank shall be entitled at its sole discretion to revise the Bank’s Purchase Price but which shall be ascertained prior to execution of this Agreement and notified to the Customer(s) accordingly and impose any further conditions which shall likewise be ascertained as aforesaid as the Bank may require prior to the release of the Bank’s Purchase Price.

VALUATION OF THE PROPERTY. The Where the Bank shall be entitled carries out or requires the Customer(s) to require carry out a valuation or a revaluation of the Property by any of the valuers on the Bank’s panel at the cost and expense of the Customer(s) at any time prior to the release disbursement of the Bank’s Purchase Price. If Customer(s)’ Sale Price and if the valuation report confirms that the open market value or any other value of the Property as may be required by the Bank in its absolute discretion is less than the Sale and Purchase Price, the Bank shall be entitled at its sole discretion to revise the Bank’s Purchase Price Facility but which shall be ascertained prior to execution of this Agreement and notified to the Customer(s) accordingly and impose any further conditions which shall likewise be ascertained as aforesaid as the Bank may require prior to the release disbursement of the Bank’s Purchase Customer(s)’ Sale Price.