Security Cover. 25.1 Minimum required security cover
Security Cover. 24.1 Minimum required security cover Clause 24.2 (Provision of additional security; prepayment) applies if at any time the Facility Agent notifies the Borrower that:
Security Cover. 15.1 Minimum required security cover Clause 15.2 applies if the Agent notifies the Borrower that:
Security Cover. 47.1 The User shall provide Cover to the Company in accordance with the provisions of Schedule 1.
Security Cover. 12.1 The Borrower undertakes with the Lender and the Security Trustee that, if the Lender notifies the Borrower that:
Security Cover. 15.1 Minimum required security cover Clause 15.2 applies if the Agent notifies the Borrowers that the Security Cover Ratio is below 125 per cent.
Security Cover. 15.1 Minimum required security cover Clause
Security Cover. In the event that the Security Cover is below (i) One hundred ten per cent (110%) for the period falling up to twenty four (24) months after the Drawdown Date first to occur or (ii) One hundred and thirty per cent (130%) at any time thereafter, the Borrowers shall within twenty one (21) Banking Days of receipt of a notice from the Lender advising the Borrowers of the amount of such deficiency (which notice shall be conclusive) either provide to the Lender additional security (valued in accordance with normal banking practice) which shall in all respects be satisfactory to the Lender and has a net realizable value at least equal to the shortfall, or prepay part of the Facility in accordance with Clause 10.4 by an amount equal to the amount of the shortfall. 60
Security Cover. 15.1 Provision of additional security cover; prepayment of Loan. The Borrower undertakes with each Creditor Party that, if the Agent notifies the Borrower that at any time after the Drawdown Date of the first Advance to be drawn under this Agreement the aggregate Market Value of the Ships subject to a Mortgage is below 125 per cent. of the Loan, the Borrower will, within 1 month after the date on which the Agent’s notice is served, either:
Security Cover. The Borrower shall ensure that the Loan is fully covered by the value of the Security less the market value of the Plant, Machinery and Equipment purchased. If at any time the value of the security cover falls below the amounts disbursed under the Term Loan Facility, the Borrower shall forthwith inform the Lender and repay the excess outstandings.
