Security Cover. 25.1 Minimum required security cover (a) the Market Value of the Ship; plus (b) the net realisable value of additional Security previously provided under this Clause 25 (Security Cover), to the aggregate of (i) the Loan and (ii) the Hedging Close-Out Liabilities is below 130 per cent.
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Security Cover. 25.1 27.1 Minimum required security cover
(a) the aggregate Market Value of the ShipShips then subject to a Mortgage; plus
(b) the net realisable value of additional Security previously provided under this Clause 25 27 (Security Cover), to Is below 130 per cent. of the aggregate of (i) the Loan and (ii) the Hedging Close-Out Liabilities is below 130 per centLiabilities.
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Security Cover. 25.1 24.1 Minimum required security cover
(a) the aggregate Market Value of the ShipShips; plus
(b) the net realisable value of additional Security previously provided under this Clause 25 24 (Security Cover), to the aggregate of (i) the Loan and (ii) the Hedging Close-Out Liabilities is below 130 125 per cent. of the Loan.
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Security Cover. 25.1 15.1 Minimum required security cover
(a) the aggregate Market Value of the ShipShips subject to a Mortgage; plus
(b) the net realisable value of any additional Security security previously provided under this Clause 25 (Security Cover)15, to the aggregate of (i) the Loan and (ii) the Hedging Close-Out Liabilities is below 130 125 per cent. of the Loan.
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Sources: Loan Agreement
Security Cover. 25.1 24.1 Minimum required security cover
(a) the aggregate Market Value of the Shipall Mortgaged Ships; plus
(b) the net realisable value of additional Security previously provided under this Clause 25 24 (Security Cover), to the aggregate of (i) the Loan and (ii) the Hedging Close-Out Liabilities is below 130 125 per cent, of the Senior Loan.
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Security Cover. 25.1 23.1 Minimum required security cover
(a) the aggregate Market Value of the ShipShips; plus
(b) the net realisable value of additional Security previously provided under this Clause 25 23 (Security Cover), to the aggregate of (i) the Loan and (ii) the Hedging Close-Out Liabilities is below 130 per cent. of the Loan.
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Security Cover. 25.1 15.1 Minimum required security cover
(a) the aggregate of the Market Value of the ShipMortgaged Ships; plus
(b) the net realisable value of any additional Security security previously provided under this Clause 25 (Security Cover)15, to the aggregate of (i) the Loan and (ii) the Hedging Close-Out Liabilities is below 130 an amount equal to 125 per cent. of the Loan.
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Security Cover. 25.1 24.1 Minimum required security cover
(a) the aggregate of (i) Shares Market Value of the ShipGrindrod Shares and (ii) the Ship Market Value of each Ship then subject to a Mortgage; plus
(b) the net realisable value of additional Security previously provided under this Clause 25 24 (Security Cover) ((a) and (b) collectively, the “Collateral”), to the aggregate of (i) the Loan and (ii) the Hedging Close-Out Liabilities is below 130 140 per cent. of the Loan.
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Sources: Facility Agreement (Taylor Maritime Investments LTD)
Security Cover. 25.1 Minimum required security cover
(a) the aggregate Market Value of the Shipeach Ship then subject to a Mortgage; plus
(b) the net realisable value of additional Security previously provided under this Clause 25 (Security Cover), to is below 125 per cent. of the aggregate of (i) the Loan and (ii) the Hedging Close-Out Liabilities is below 130 per centLoan.
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