Common use of VALUATION OF THE PROPERTY Clause in Contracts

VALUATION OF THE PROPERTY. The Borrower 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 to within fourteen (14) days from the date of a notice from the Bank to charge, pledge, mortgage or deposit with the Bank the Borrower's stocks and shares, assets, movable property and/or the issue document of title, if any, or all immovable properties vested in the Borrower of such value as the Bank may from time to time require and for such tenure as the Bank so requires by way of further and additional security for the repayment of the total amount owing for the time being under this Agreement.