Security shortfall Sample Clauses

Security shortfall. If, at any time after the first Delivery Date, the Security Value shall be less than the Required Security Amount, the Agent (acting on the instructions of the Majority Lenders) shall give notice to the Borrowers requiring that such deficiency be remedied and then the Borrowers must either:
Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall either:
Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank may give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall (unless the Ship has become a Total Loss) within a period of fifteen (15) days of the date of receipt by the Borrower of the Bank’s said notice either:
Security shortfall. If at any time the Security Value is less than the Minimum Value, the Agent may, and shall, if so directed by the Majority Lenders, by notice to the Borrower require that such deficiency be remedied. The Borrower shall then within 30 days of receipt of such notice ensure that the Security Value equals or exceeds the Minimum Value. For this purpose, the Borrower may:
Security shortfall. If, at any time after the earlier of (i) the Drawdown Date of the last Delivery Advance to be drawn down and (ii) the last day of the last Drawdown Period to elapse, the Security Value shall be less than the Security Requirement, the Agent (acting on the instructions of the Majority Banks) shall give notice to the Borrowers requiring that such deficiency be remedied and then the Borrowers shall either:
Security shortfall. If, upon receipt of a valuation of the Ship in accordance with Clause 13.4 (Valuation of the Ship), the Security Value shall be less than the Security Requirement, the Agent may give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall (unless the Ship has become a Total Loss) either:
Security shortfall. If at any time on or after the first Drawdown Date the Security Value shall be less than the relevant Security Requirement, the Agent may give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall (unless a Ship has become a Total Loss) either:
Security shortfall. If at any time X shall be higher than Y, the Agent (acting on the instructions of the Majority Banks) shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall either:
Security shortfall. If at any time the Security Value for any Ship Loan shall be less than the Security Requirement, the Facility Agent may, and if so directed by the Majority Lenders, shall give notice to the Borrowers requiring that such deficiency be remedied and then the Borrowers shall (unless such deficiency has been caused exclusively by the associated Ship having become a Total Loss) either:
Security shortfall. If at any time any Security Value shall be less than the relevant Security Requirement, the Facility Agent shall (upon the instructions of the Lenders) give notice to the relevant Borrower requiring that such deficiency be remedied and then such Borrower shall (unless any relevant Mortgaged Vessel has become a Total Loss (in which case clause 6.3 shall apply)) either: