Collateral Deficiency Sample Clauses

Collateral Deficiency. If at any point in time Trust determines the estimated number of oz. of Certified 99.99% Pure Gold contained in the Pre-Recycled Gold Ore comprising the Property is less than 10-times the total Physical Ounces of Gold purchased by all gold-ore owners (e.g., collateralization ratio of less than a 10:1), then Trust shall promptly notify Gold-Ore Owner of the current amount of the deficiency, any expected additional increases in the deficiency, and the amount of time it anticipates to cure the deficiency (“Notice of Collateralization Deficiency”). Gold-Ore Owner shall between ninety (90) days and one hundred twenty (120) days after Notice of Collateralization Deficiency have the option of requesting the return of all or part of the remaining balance of its Gold Purchase payments held in Trust Account in certified funds (USD) and terminating its purchase for that corresponding portion of its Physical Ounces of Gold Purchased (“Collateral Deficiency Gold Purchase Termination”), or continuing with this Gold-Ore Purchase Agreement until such time as another Notice of Collateralization Deficiency may be received from Trust.

Collateral Deficiency. Should the aggregate amount of all Line Advances made and unfunded Letters of Credit issued under the Line Commitment at any time prior to maturity of the Line Note be greater than the Collateral Borrowing Base in effect at such time, the Bank may notify the Borrower in writing of the deficiency and, at the Bank's election, require the Borrower to: (a) Make a prepayment upon the Line Note in an amount sufficient to reduce the aggregate amount of all Line Advances made under the Line Commitment to an amount equal to or less than the amount of the Collateral Borrowing Base; or (b) Make mandatory equal monthly principal prepayments on the Line Note due on the next six (6) successive monthly interest installment due dates on the Line Note equal in an aggregate amount that will reduce the outstanding principal balance of the Line Note to the projected Collateral Borrowing Base as of the next immediate semi-annual redetermination thereof in accordance with the provisions of Section 3.1(a) hereof; or (c) Execute and deliver to the Bank one or more supplemental mortgages, deeds of trust, security agreements or pledges encumbering other properties or assets in form and substance satisfactory to the Bank and its counsel as additional security for the Line Note (and all other Indebtedness) to the extent such properties are acceptable to the Bank and of such value, as determined by the Bank, that the aggregate amount of all Line Advances made under the Line Note will not exceed the Collateral Borrowing Base in conformance with the Bank's then applicable energy lending and engineering/evaluation policies and procedures. If the Bank shall have elected to require a prepayment on the Line Note under Section 3.3(a) hereof, such prepayment shall be due within fifteen (15) days after the Bank shall have notified the Borrower of such election, and the prepayment shall be applied at the Bank's option, to the principal payments of the Line Note in inverse order of maturity. If the Bank shall elect to require execution and delivery one or more supplemental oil and gas mortgages and deeds of trust to the Bank under Section 3.3(c) hereof, the Borrower shall provide the Bank with descriptions of the addi­tional properties to be mortgaged (together with any title opinions, current valuations and engineer­ing reports applicable thereto which may be requested by the Bank) at the time of the Borrower's notice of such election and shall execute, acknowl­edge and deliver to the Bank the ...

Collateral Deficiency. If, as of any Calculation Date, a Collateral Deficiency exists, the Borrower shall by the third Payment Date immediately following such Calculation Date do either or both of the following: (x) pay an amount to the Collections Account sufficient so that, after application of funds on such third Payment Date in accordance with Section 2.18, such Collateral Deficiency no longer exists or (y) pledge Eligible Aircraft, in such amounts so that such Collateral Deficiency no longer exists.

Collateral Deficiency. If at any point in time Trust determines the estimated number of oz. of Certified 99.99% Pure Gold contained in the Pre-Recycled Gold Ore is less than 10-times the total Physical Ounces of Gold purchased by all gold-ore owners (e.g., collateralization ratio of less than a 10:1), then Trust shall promptly notify Gold-Ore Owner of the current amount of the deficiency, any expected additional increases in the deficiency, and the amount of time it anticipates to cure the deficiency (“Notice of Collateralization Deficiency”). Upon Notice of Collateralization Deficiency Gold-Ore Owner shall have the option of requesting the immediate return of all or part of the remaining balance of its Gold Purchase payments held in Trust Account in certified funds (USD) and/or continuing with the project until such time as another Notice of Collateralization Deficiency may be received from Trust.

Collateral Deficiency. Any Collateral Deficiency is not cured within the time limit specified in Section 2.04(b).

Collateral Deficiency. 14 SECTION 2.04. Addition, Substitution and Removal of Financed Student Loans; Release of Collateral...................................................14 SECTION 2.05. Effect of Release.......................................................16

Collateral Deficiency. If any Collateral Deficiency exists on the November 15, 2003 Settlement Date after giving effect to the payments made on such Settlement Date pursuant to Section 2.07(c), the Borrower shall, on such November 15, 2003 Settlement Date either (A) pay the amount of such Collateral Deficiency together with accrued interest thereon and the amount, if any, owed to each Lender pursuant to Section 3.04 hereof to the Collection Account, and on the following Settlement Date, or at the sole discretion of the Agent upon receipt, such payment shall be applied by the Agent in accordance with the then applicable provisions of Section 2.07(c) or (B) pledge additional Eligible Railcars and/or Eligible Leases approved by the Agent in its sole discretion pursuant to Section 2.02 and/or other collateral acceptable to the Agent so that such Collateral Deficiency no longer exists." 17. Article VI of the Agreement is hereby amended by inserting the following Section 6.18 at the end thereof:

Collateral Deficiency. If on or before 11:00 am (ET) on any given Business Day (after giving effect to any other payments by such time on such date) the aggregate outstanding amount of the 2006 Term Loan exceeds (i) thirty percent (30%) of the Restricted Shares Current Market Value plus (ii) the sum of (x) the Cash Collateral and (y) the Pledged Acceptable Securities Collateral Amount, the Borrower shall either (a) make a mandatory prepayment of the 2006 Term Loan on such date in an amount equal to such excess or (b) on such date (1) Cash Collateralize and/or (2) Securities Collateralize the 2006 Term Loan by making a Collateral Deficiency Deposit in a combined amount equal to such excess. Notice from the Bank to the Borrower of the occurrence of a Collateral Deficiency, absent manifest error, shall constitute conclusive evidence of a Collateral Deficiency.

Collateral Deficiency. If on any Business Day, the Collateral Amount on such Business Day is less than the Class A Note Principal Amount, then a "Collateral Deficiency" shall be deemed to exist on such Business Day. The Issuer shall cure such Collateral Deficiency by completing one or some combination of both of the following within 10 Business Days of obtaining actual knowledge of such Collateral Deficiency: (a) delivering or substituting additional Eligible Financed Student Loans to the Indenture Trustee for inclusion in the Collateral pursuant to Section 2.04(a) or delivering other collateral acceptable to the Class A Noteholder and the Insurer to the Indenture Trustee for the benefit of the Class A Noteholders, and/or (b) paying to the Indenture Trustee cash for deposit into the Collection Account for prepayment of the Class A Note Principal Amount on the next Payment Date in an amount sufficient to reduce the Collateral Deficiency to zero.