Common use of Minimum Security Clause in Contracts

Minimum Security. The Borrower shall maintain, as minimum security for the Loan, Eligible Inventory, Eligible Accounts and Eligible Real Estate having an aggregate value such that the Borrowing Base will equal or exceed the sum of (a) the unpaid principal balance of the Revolving Loan, plus (b) the aggregate stated value of all issued and outstanding Letters of Credit and if the Borrower fails to do so, the Borrower shall immediately pay to the Bank the difference.

Minimum Security. The Borrower shall maintain, as minimum security for the Revolving Loan, Eligible Inventory, Inventory and Eligible Accounts and Eligible Real Estate having an aggregate value such that the Borrowing Base will equal or exceed the sum of (a) the aggregate unpaid principal balance of the Revolving Loan, plus (b) the aggregate stated value of all issued and outstanding Letters of Credit and if the Borrower fails to do so, the Borrower shall immediately pay to the Bank the difference.difference between the aggregate unpaid principal balance of the Revolving Loan and the