Security Cover. 25.1 Minimum required security cover (a) Clause 25.2 (Provision of additional security; prepayment) applies, if the Lender notifies the Borrowers that: (i) the aggregate Market Value of the Ships then subject to a Mortgage; plus (ii) the Minimum Liquidity Amount; plus (iii) the net realisable value of additional Security previously provided under this Clause 25 (Security Cover), is below:
Appears in 1 contract
Sources: Term Loan Facility (Seanergy Maritime Holdings Corp.)
Security Cover. 25.1 Minimum required security cover
(a) Clause 25.2 (Provision of additional security; prepayment) applies, if the Lender notifies the Borrowers that:
(that :(i) the aggregate Market Value of the Ships then subject to a Mortgage; plus
(ii) plus the Minimum Liquidity Amount; plus
(iii) the net realisable value of additional plusthe Security previously provided under this Clause 25 (Security Cover), Cover Ratio is below:
Appears in 1 contract
Sources: Facility Agreement (Seanergy Maritime Holdings Corp.)