Common use of Release of additional security Clause in Contracts

Release of additional security. If the amounts calculated under Clause 14.1 shall at any time exceed the minimum required security cover (the “Minimum Security Cover”) and the Borrower has provided additional security pursuant to Clause 14.2, the Lender, after receiving notice from the Borrower (such notice to include evidence satisfactory to the Lender that the Minimum Security Cover has been maintained for a period of at least 90 consecutive days prior to such notice (without taking into account of the additional security whose release the Borrower is requesting pursuant to this Clause 14.8)) shall, subject to being indemnified to the Lender’s satisfaction against any costs and expenses arising out of such release, proceed with the release of any additional security to the extent that the Minimum Security Cover is maintained following such release Provided that no Event of Default is in existence or will result from such release.

Release of additional security. If the amounts calculated under Clause 14.1 15.1 shall at any time exceed 130 per cent. of the minimum required security cover (the “Minimum Security Cover”) Loan and the Borrower has Borrowers shall previously have provided additional further security pursuant to this Clause 14.215, the LenderAgent, after receiving a notice from the Borrower Borrowers to do so (such notice to include evidence satisfactory to the Lender Lenders that the Minimum Security Cover security cover test specified in Clause 15.1 has been maintained for a period of at least 90 consecutive days prior to such notice (without taking into account of the additional security whose release the Borrower is Borrowers are requesting pursuant to this Clause 14.815.8)) shallwill, subject to being indemnified to the Lender’s its satisfaction against the cost of doing so, release any costs and expenses arising out of such release, proceed with further security specified by the release of any additional security Borrowers to the extent that the Minimum Security Cover is minimum security cover specified in Clause 15.1 would be maintained following such release and Provided that at the relevant time no Event of Default is in existence or will result from such release.

Release of additional security. If the amounts calculated under Clause 14.1 shall at any time exceed the minimum required security cover (the “"Minimum Security Cover”") and the Borrower has provided additional security pursuant to Clause 14.2, the Lender, after receiving notice from the Borrower (such notice to include evidence satisfactory to the Lender that the Minimum Security Cover has been maintained for a period of at least 90 consecutive days prior to such notice (without taking into account of the additional security whose release the Borrower is requesting pursuant to this Clause 14.8)) shall, subject to being indemnified to the Lender’s 's satisfaction against any costs and expenses arising out of such release, proceed with the release of any additional security to the extent that the Minimum Security Cover is maintained following such release Provided that no Event of Default is in existence or will result from such release.