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 the Minimum Liquidity Amount; plusthe Security Cover Ratio is below:
Appears in 1 contract
Sources: Facility Agreement (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 plus
(ii) the Minimum Liquidity Amount; plusthe plus
(iii) the net realisable value of additional Security Cover Ratio previously provided under this Clause 25 (Security Cover), is below:
Appears in 1 contract
Sources: Term Loan Facility (Seanergy Maritime Holdings Corp.)