Common use of VALUATION OF THE PROPERTY Clause in Contracts

VALUATION OF THE PROPERTY. The Borrower and/or the Security Party hereby authorises the Bank to value the Property annually or at such interval as the Bank shall in its absolute discretion may decide by any valuer or any officer of the Bank or any person of the Bank’s choice at the Borrower’s sole cost and expense and in the event such valuation reveals that the forced sale value of the Property is lower than that at the date hereof the Bank shall have the absolute discretion to require the Borrower within fourteen