Minimum Market Value. Upon a non-compliance of Clause 10.1 (Minimum Market Value) of the Common Terms Agreement, the Facility shall be repaid or reduced (as applicable) in accordance with Clause 8.7 (Terms and conditions for mandatory prepayments/reductions and cancellation) on the date falling 60 days after such breach by an amount equal to the amount which is required for the Borrower to become compliant with Clause 5.1 (Minimum Market Value) of the Common Terms Agreement again.
Minimum Market Value. The Obligors will procure that the Market Value of all the Rigs (taken in aggregate) is at least one hundred and thirty five per cent (135%) of the sum of the Loans outstanding from, and tested first time with reference to the period ending, 30 June 2017 and up until the Final Maturity Date.”
Minimum Market Value. The Obligors will procure that the Market Value of all the Drillships that have been delivered is (i) at least one hundred and twenty five per cent (125%) of the sum of the Loans from the Closing Date and up until the third anniversary thereafter and (ii) at least one hundred and forty per cent (140%) from the third anniversary of the Closing Date and up until the relevant Final Maturity Date.
Minimum Market Value. Upon a non-compliance of Clause 26.1 (Minimum Market Value), the Commercial Facility Loan Commitment shall be reduced and the ECA Lender Loans prepaid on the date falling 60 days after such breach by an amount equal to the amount which is required for the Borrower to become compliant with Clause 26.1 (Minimum Market Value) again.
Minimum Market Value. The Obligors will procure that the Market Value of all the Drillships that have been delivered is at least one hundred and forty per cent. (140%) of the sum of the Loans from, and tested first time with reference to the period ending, 30 June 2017 and up until the Final Maturity Date.”
Minimum Market Value a) The Market Value of the Vessel shall not at any time be less than one hundred and thirty per cent (130%) of the Loan.
Minimum Market Value. The Obligors will procure that the Market Value of all the Collateral Rigs is at least one hundred and twenty percent (120 %) of the sum of the Loans outstanding for the first four (4) years from the First Utilisation Date and one hundred and thirty five (135%) thereafter.
Minimum Market Value. (a) Subject to sub-paragraph (b) below, upon a non-compliance with Clause 24.1 (Minimum Market Value), the Facility shall be repaid or reduced (as applicable) in accordance with Clause 8.7 (
Minimum Market Value. (a) Subject to sub-paragraph (b) below, the Obligors will procure that the Market Value of the Drillship is (i) at least one hundred and twenty five per cent (125%) of the sum of the Loans from the Closing Date and up until the third anniversary thereafter and (ii) at least one hundred and forty per cent (140%) of the sum of the Loans from the third anniversary of the Closing Date and up until the relevant Final Maturity Date. For the avoidance of doubt, Clause 8.4 (Minimum Market Value) will not apply whilst the covenant in this Clause 24.1 is suspended.
