Common use of Asset Maintenance Clause in Contracts

Asset Maintenance. If at any time during the term of this Agreement after the first Delivery Date, the aggregate Fair Market Value of the Vessels delivered to the Borrower is less than the Required Percentage of the outstanding amount of the Facility (calculated only for Tranches where the vessel pertaining to such Tranche has been delivered), the Borrower shall, within a period of thirty (30) days following receipt by the Borrower of written notice from the Facility Agent notifying the Borrower of such shortfall and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the Borrower), either (i) prepay such amount of the relevant Tranche or Facility (as applicable) (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.5) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) being not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable) or (ii) place on charged deposits with the Facility Agent an amount in Dollars (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.5) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) together with the amount deposited being not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable). The charged deposit shall be released to the Borrower when the Fair Market Value of the relevant Vessel or Vessels (as applicable) is not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable).

Asset Maintenance. If If, at any time during from the term date hereof and so long as any principal, interest or other moneys are owing in respect of this Agreement after the first Delivery DateAgreement, the aggregate Note or any other Transaction Documents, the Fair Market Value of the Vessels delivered to the Borrower Vessel is less than the Required Percentage of the outstanding amount of the Facility (calculated only for Tranches where the vessel pertaining to such Tranche has been delivered)Facility, the Borrower shall, within a period of thirty (30) 30 days following receipt by the Borrower of written notice from the Facility Agent notifying the Borrower of such shortfall and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the Borrower), either (i) prepay such amount of the relevant Tranche or Facility (as applicable) (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.55.4) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) being not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable) or (ii) place on charged deposits with the Facility Agent an amount in Dollars (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.55.4) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) together with the amount deposited being not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable)Facility. The charged deposit shall be released to the Borrower when the Fair Market Value of the relevant Vessel or Vessels (as applicable) is not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable)Facility.

Asset Maintenance. If If, at any time during from the term date hereof and so long as any principal, interest or other moneys are owing in respect of this Agreement after the first Delivery DateAgreement, the aggregate Note or any other Transaction Documents, the Fair Market Value of the Vessels delivered to the Borrower Vessel is less than the Required Percentage of the outstanding amount of the Facility (calculated only for Tranches where the vessel pertaining to such Tranche has been delivered)Facility, the Borrower shall, within a period of thirty (30) days immediately following receipt by the Borrower of written notice from the Facility Agent notifying the Borrower of such shortfall and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the Borrower), either either (i) prepay such amount of the relevant Tranche or Facility (as applicable) (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.55.4) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) being not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable) or (ii) place on charged deposits with the Facility Agent an amount in Dollars (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.55.4) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) together with the amount deposited being not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable)Facility. The charged deposit shall be released to the Borrower when the Fair Market Value of the relevant Vessel or Vessels (as applicable) is not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable)Facility.

Asset Maintenance. If If, at any time during from the term date hereof and so long as any principal, interest or other moneys are owing in respect of this Agreement after the first Delivery DateAgreement, the aggregate Note or any other Transaction Documents, the Fair Market Value of the Vessels delivered to the Borrower Vessel is less than the Required Percentage of the outstanding amount of the Facility (calculated only for Tranches where the vessel pertaining to such Tranche has been delivered)Facility, the Borrower shall, within a period of thirty (30) days immediately following receipt by the Borrower of written notice from the Facility Agent notifying the Borrower of such shortfall and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the Borrower), either (i) prepay such amount of the relevant Tranche or Facility (as applicable) (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.55.4) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) being not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable) or (ii) place on charged deposits with the Facility Agent an amount in Dollars (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.55.4) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) together with the amount deposited being not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable)Facility. The charged deposit shall be released to the Borrower when the Fair Market Value of the relevant Vessel or Vessels (as applicable) is not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable)Facility.

Asset Maintenance. If at any time during the term of this Agreement after the first Delivery DateAgreement, the aggregate Fair Market Value of the Vessels delivered to the a Borrower is less than the Required Percentage of the outstanding amount of the Facility (calculated only for Tranches where the vessel Vessel pertaining to such Tranche has been delivered), the Borrower Borrowers shall, within a period of thirty (30) days following receipt by the Borrower Borrowers of written notice from the Facility Agent notifying the Borrower Borrowers of such shortfall and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the BorrowerBorrowers), either (i1) prepay such amount of the relevant Tranche or Facility (as applicable) (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.5) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) being not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable) ), or (ii2) place on charged deposits with the Facility Agent an amount in Dollars (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.5) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) together with the amount deposited being not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable). The Any charged deposit shall be released to the Borrower Borrowers when the Fair Market Value of the relevant Vessel or Vessels (as applicable) is not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicable).

Asset Maintenance. If (a) If, at any time during the term of this Agreement after the first Delivery DateFacility, the aggregate Fair Market Value of the Vessels delivered to the Borrower is less than the Required Percentage of the outstanding amount of the Facility Advances outstanding is greater than the Available Amount (calculated only for Tranches where together with the vessel pertaining to such Tranche has been deliveredvalue of any additional collateral theretofore provided under this Section), the Borrower Borrowers shall, within a period of thirty (30) days following receipt by the Borrower Borrowers of written notice from the Facility Administrative Agent notifying the Borrower Borrowers of such shortfall excess and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the Borrower), Borrowers) either (ia) prepay deliver to the Security Trustee, such additional collateral as may be satisfactory to the Lenders in their sole discretion such that the aggregate amount of the relevant Tranche Advances then outstanding is less than or Facility equal to the Available Amount together with the value of any such additional collateral or (as applicableb) prepay the Advances or part thereof (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.55.4) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) being not less than the Required Percentage of the outstanding aggregate amount of the relevant Tranche Advances then outstanding being less than or Facility equal to the Available Amount. (b) If, at any time during the term of the Facility, in the sole opinion of the Lenders, there is a material adverse change to the financial position of Belden, the Borrowers shall, within a period of ninety (90) days foll▇▇▇▇▇ receipt by the Borrowers of written notice from the Administrative Agent notifying the Borrowers of such change in financial position either (a) deliver to the Security Trustee, such additional collateral as applicable) may be satisfactory to the Lenders in their sole discretion, or (iib) place on charged deposits with prepay the Facility Agent an amount in Dollars Advances or part thereof (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.55.4) as shall result in the Fair Market Value of the relevant Vessel or Vessels (as applicable) together with the amount deposited being not less than the Required Percentage of the outstanding aggregate amount of the relevant Tranche Advances then outstanding being less than or Facility equal to the Available Amount (as applicable). The charged deposit shall be released to calculated excluding the Borrower when the Fair Market Value amount set forth in subclause (b) of the relevant Vessel or Vessels (as applicable) is not less than the Required Percentage of the outstanding amount of the relevant Tranche or Facility (as applicabledefinition thereof).