Common use of Collateral to Loan Coverage Clause in Contracts

Collateral to Loan Coverage. (a) If, at any --------------------------- time prior to payment in full in cash of all obligations of the Borrower now or hereafter existing under this Agreement, the Note and the other Loan Documents (whether for principal, interest, fees, expenses or otherwise), or at any other time when the Bank shall have any Commitment under this Agreement, the ratio of the aggregate current market value of the Collateral to the aggregate unpaid principal amount of the Advances shall be less than 1.66 to 1.0 but equal to or greater than 1.50 to 1.0, then, within two Business Days of such event, the Borrower

Appears in 2 contracts

Samples: Credit Agreement (Wyly Samuel Evans), Credit Agreement (Wyly Samuel Evans)

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Collateral to Loan Coverage. (a) If, at any time --------------------------- time prior to payment in full in cash of all obligations of the Borrower now or hereafter existing under this Agreement, the Note and the other Loan Documents (whether for principal, interest, fees, expenses or otherwise), or at any other time when the Bank shall have any Commitment under this Agreement, the ratio of the aggregate current market value of the Collateral to the aggregate unpaid principal amount of the Advances shall be less than 1.66 to 1.0 but equal to or greater than 1.50 to 1.0, then, within two Business Days of such event, the Borrower

Appears in 2 contracts

Samples: Credit Agreement (Wyly Samuel Evans), Credit Agreement (Wyly Samuel Evans)

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