Common use of Security shortfall Clause in Contracts

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: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 shall apply to prepayments under clause 9.2.1(a).

Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank may shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall either: (unless the Ship has become a Total Lossa) prepay, within a period of fifteen (15) days of the date of receipt by the Borrower of the Bank’s 's said notice either: (a) prepay notice, such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment prepayment of the Loan (or part thereof) made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within fifteen (15) days of the date of receipt by the Borrower of the Bank's said notice, constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank Bank, having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date clauses 4.4 and any relevant provisions of such payment. Clause 5.6 4.5 shall apply to prepayments made under this clause 9.2.1(a8.2.1(a).

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 either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen fourteen (1514) days of the date of receipt by the Borrower of the Bank’s 's said notice either: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within fourteen (14) days of the date of receipt by the Borrower of the Bank's said notice constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.4 and 4.5 shall apply to prepayments made under clause 9.2.1(a8.3.1(a).

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: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 5.5 shall apply to prepayments under clause 9.2.1(a).

Security shortfall. If If, at any time after the first Drawdown Date, the Security Value shall be less than the Required Security RequirementAmount, the Bank may Lender shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall must within thirty (unless the Ship has become a Total Loss) within a period of fifteen (1530) days of the date of receipt by the Borrower of the BankLender’s said notice notice, either: (a) prepay such sum in Dollars part of the Loan as will result in the Security Requirement Value after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to or higher than the Required Security ValueAmount; or (b) constitute to the satisfaction of the Bank Lender such further security for the Loan as shall be acceptable to the Bank Lender having a value for security purposes (as determined by the Bank Lender in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Required Security Requirement Amount as at such date; or. (ca) pay provided that the Lender shall apply such additional amount to prepayments (i) pro rata against the credit Advances, (ii) in pro rata reduction of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date repayment instalments of such payment. Clause 5.6 shall apply to prepayments each Advance under clause 9.2.1(a)4.1.

Security shortfall. If at any time throughout the Facility Period the Security Value shall be less than the Required Security RequirementAmount, the Bank may Lender shall give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower shall (unless the Ship has become a Total Loss) Borrowers must within a period of fifteen (15) 30 days of the date of receipt by the Borrower of the BankLender’s said notice notice, either: (a) prepay prepay, or procure that the Corporate Guarantor prepays, such sum in Dollars part of the Loan as will result in the Security Requirement Value after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to or higher than the Required Security ValueAmount; or (b) constitute constitute, or procure that the Corporate Guarantor constitutes, to the satisfaction of the Bank Lender such further security for the Loan as shall be acceptable to the Bank Lender (in its absolute discretion) having a value for security purposes (as determined by the Bank Lender in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Required Security Requirement Amount as at such date; or (c) pay such additional amount to the credit of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 shall apply to prepayments under clause 9.2.1(a).

Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank may shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall either: (unless the Ship has become a Total Lossa) prepay, within a period of fifteen (15) days of the date of receipt by the Borrower of the Bank’s said notice either: (a) prepay notice, such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment prepayment of the Loan (or part thereof) made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within fifteen (15) days of the date of receipt by the Borrower of the Bank’s said notice, constitute to the satisfaction of the Bank such further security for the Loan and any amounts owing under the Master Swap Agreement as shall be acceptable to the Bank Bank, having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date clauses 4.5 and any relevant provisions of such payment. Clause 5.6 4.6 shall apply to prepayments made under this clause 9.2.1(a8.2.1(a).

Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank may shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall either: (unless the Ship has become a Total Lossa) prepay, within a period of fifteen (15) days of the date of receipt by the Borrower of the Bank’s 's said notice either: (a) prepay notice, such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment prepayment of the Loan (or part thereof) made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within fifteen (15) days of the date of receipt by the Borrower of the Bank's said notice, constitute to the satisfaction of the Bank such further security for the Loan and any amounts owing under the Master Swap Agreement as shall be acceptable to the Bank Bank, having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date clauses 4.5 and any relevant provisions of such payment. Clause 5.6 4.6 shall apply to prepayments made under this clause 9.2.1(a8.2.1(a).

Security shortfall. If at any time the Security Value shall be equal to or less than the Security Requirement, the Bank may Agent (acting on the instructions of the Majority Banks) shall give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers shall either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen ten (1510) days of the date of receipt by the Borrower Borrowers of the Bank’s Agent's said notice either: (a) prepay notice, such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to higher than the Security Value; or (b) within ten (10) days of the date of receipt by the Borrowers of the Agent's said notice constitute to the satisfaction of the Bank Agent such further security for the Loan as shall be acceptable to the Bank Banks, having a value for security purposes (as determined by the Bank Agent in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less higher than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date clause 4.4 and any relevant provisions of such payment. Clause 5.6 clause 4.5 shall apply to prepayments made under clause 9.2.1(a8.2.1(a).

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: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 5.4 shall apply to prepayments under clause 9.2.1(a).

Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank may Facility Agent may, and acting on the instructions of the Lenders shall, give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers shall (unless the Ship has become a Total Loss) within a period of fifteen fourteen (1514) days of the date of receipt by the Borrower Borrowers of the BankFacility Agent’s said notice either: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) constitute to the satisfaction of the Bank Facility Agent such further security for the Loan and any moneys owing under the Master Swap Agreement as shall be acceptable to the Bank Facility Agent having a value for security purposes (as determined by the Bank Facility Agent in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.5 and 4.6 shall apply to prepayments under clause 9.2.1(a8.2.1(a).

Security shortfall. If If, at any time after the first Drawdown Date, the Security Value shall be less than the Required Security RequirementAmount, the Bank may Lender shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall must within thirty (unless the Ship has become a Total Loss) within a period of fifteen (1530) days of the date of receipt by the Borrower of the BankLender’s said notice notice, either: (a) prepay such sum in Dollars part of the Loan as will result in the Security Requirement Value after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to or higher than the Required Security ValueAmount; or (b) constitute to the satisfaction of the Bank Lender such further security for the Loan as shall be acceptable to the Bank Lender having a value for security purposes (as determined by the Bank Lender in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Required Security Requirement Amount as at such date; or. (ca) pay provided that the Lender shall apply such additional amount to prepayments (i) pro rata against the credit Advances, (ii) in pro rata reduction of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date repayment instalments of such payment. Clause 5.6 shall apply to prepayments each Advance under clause 9.2.1(a)4.1.

Security shortfall. If If, at any time after the earlier of (i) Drawdown Date of the second 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 Bank may give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers shall at its discretion either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen fourteen (1514) days of the date of receipt by the Borrower Borrowers of the Bank’s 's said notice either: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made in accordance with clause 4.1 between the date of the notice and the date of such prepayment) being at least equal to the Security Value; or (b) within fourteen (14) days of the date of receipt by the Borrowers of the Bank's said notice constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.4, 4.5.4 and 4.5.5 shall apply to prepayments made under clause 9.2.1(a8.2.1(a).

Security shortfall. If if at any time the Security Value shall be less than the Security Requirement, the Bank may Agent may, and if so instructed by the Majority Lenders, shall 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: (a) prepay within a period of ten (10) Banking Days of the date of receipt by them of the Agent’s said notice such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan for the Ships made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within ten (10) Banking Days of the date of receipt by the Borrower of the Agent’s said notice, constitute to the satisfaction of the Bank Lenders such further security (in the form of an Encumbrance) for the Loan to be held by the Security Trustee, and as shall be acceptable to the Bank Lenders having a value for security purposes (as determined by the Bank Lenders in its their absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.5 and 4.6 shall apply to prepayments under clause 9.2.1(a8.2.1(a).

Security shortfall. If at any time after 31 March 2014 the Security Value shall be is less than the Security Requirement, the Bank may shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall either: (unless the Ship has become a Total Lossa) prepay, within a period of fifteen (15) days of the date of receipt by the Borrower of the Bank’s said notice either: (a) prepay notice, such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment prepayment of the Loan (or part thereof) made between the date of the notice and the date of such prepayment) being equal to the Security ValueValue (and upon such prepayment being made, a part of the Commitment equal to the amount prepaid will also be cancelled forthwith); or (b) within fifteen (15) days of the date of receipt by the Borrower of the Bank’s said notice, constitute to the satisfaction of the Bank such further security for the Loan and any amounts owing under the Master Swap Agreement as shall be acceptable to the Bank Bank, having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date clauses 4.5 and any relevant provisions of such payment. Clause 5.6 4.6 shall apply to prepayments made under this clause 9.2.1(a8.2.1(a).

Security shortfall. If If, at any time after 28 February 2012, 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 either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen thirty (1530) days of the date of receipt by the Borrower of the Bank’s said notice either: (a) prepay such sum in Dollars as will result in the relevant Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within thirty (30) days of the date of receipt by the Borrower of the Bank’s said notice, constitute to the satisfaction of the Bank such further security for the Loan and amounts owing under the Master Swap Agreement as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the relevant Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date clause 4.3 and any relevant provisions of such payment. Clause 5.6 clause 4.5 shall apply to prepayments made under clause 9.2.1(a8.3.1(a).

Security shortfall. If If, at any time after the Security Value shall be is less than the Required Security RequirementAmount, the Bank may give Lender gives notice to the Borrower Borrowers requiring that such deficiency be remedied and remedied, then the Borrower shall Borrowers must either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen thirty (1530) days of the date of receipt by the Borrower Borrowers of the BankLender’s said notice either: (a) prepay notice, such sum in Dollars USD as will result in the Required Security Requirement Amount after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within thirty (30) days of the date of receipt by the Borrowers of the Lender’s said notice constitute to the satisfaction of the Bank Lender such further security for the Loan as shall be acceptable to the Bank Lender having a value for security purposes (as determined by the Bank Lender in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Required Security Requirement Amount as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.5 and 4.6 shall apply to prepayments under clause 9.2.1(a8.2.1(a).

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 either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen thirty (1530) days of the date of receipt by the Borrower of the Bank’s 's said notice either: (a) prepay such sum in Dollars as will result in the relevant Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within thirty (30) days of the date of receipt by the Borrower of the Bank's said notice constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the relevant Security Requirement as at such date; or (c) pay such additional amount to the credit . The provision of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date clauses 4.4 and any relevant provisions of such payment. Clause 5.6 clause 4.5 shall apply to prepayments made under clause 9.2.1(a8.3.1(a).

Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank may Agent (acting on the instructions of the Majority Banks) shall give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers shall either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen (15) days of the date of receipt by the Borrower Borrowers of the BankAgent’s said notice either: (a) prepay notice, such sum in Dollars as will result in the Security Requirement Value after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to or higher than the Security ValueRequirement; or (b) within fifteen (15) days of the date of receipt by the Borrowers of the Agent’s said notice constitute to the satisfaction of the Bank Agent such further security for the Loan and amounts owing under the Master Swap Agreement, as shall be acceptable to the Bank Banks, having a value for security purposes (as determined by the Bank Agent in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less equal to or higher than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date clause 4.4 and any relevant provisions of such payment. Clause 5.6 clause 4.5 shall apply to prepayments made under clause 9.2.1(a8.2.1(a).

Security shortfall. If at any time the Security Value shall be less than the Required Security RequirementAmount, the Bank may Agent (acting on the instructions of the Banks) shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall must either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen thirty (1530) days of the date of receipt by the Borrower of the BankAgent’s said notice either: (a) prepay such sum in Dollars USD as will result in the Required Security Requirement Amount after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within thirty (30) days of the date of receipt by the Borrower of the Agent’s said notice constitute to the satisfaction of the Bank Agent such further security for the Loan as shall be acceptable to the Bank Banks having a value for security purposes (as determined by the Bank Agent in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Required Security Requirement Amount as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.5 and 4.6 shall apply to prepayments under clause 9.2.1(a8.2.1(a).

Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank Agent (acting on the instructions of the Majority Banks) may give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers shall either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen fourteen (1514) days of the date of receipt by the Borrower Borrowers of the Bank’s Agent's said notice either: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within fourteen (14) days of the date of receipt by the Borrowers of the Agent's said notice constitute to the satisfaction of the Bank Agent such further security for the Loan as shall be acceptable to the Bank Banks having a value for security purposes (as determined by the Bank Agent in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.5 and 4.6 shall apply to prepayments under clause 9.2.1(a8.2.1(a).

Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank Agent may and if so directed by the Majority Banks shall, 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 thirty (1530) days of the date of receipt by the Borrower of the Bank’s Agent's said notice either: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) constitute to the satisfaction of the Bank Creditors such further security for the Loan and any amounts owing under the Master Swap Agreement as shall be acceptable to the Bank Banks having a value for security purposes (as determined by the Bank Agent in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c, and the choice between clause 8.2.1(a) pay such additional amount to the credit of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as and clause 8.2.1(b) shall be at the date Borrower's option. The provisions of such payment. Clause 5.6 clause 4.4 and any relevant provisions of clause 4.5 shall apply to any prepayments made under clause 9.2.1(a8.2.1(a).

Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank may Agent (acting on the instructions of the Majority Banks) shall give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers shall either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen ten (1510) days of the date of receipt by the Borrower Borrowers of the Bank’s Agent's said notice either: (a) prepay notice, such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within ten (10) days of the date of receipt by the Borrowers of the Agent's said notice constitute to the satisfaction of the Bank Agent such further security for the Loan and amounts owing under the Master Swap Agreement, as shall be acceptable to the Bank Banks, having a value for security purposes (as determined by the Bank Agent in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date clause 4.4 and any relevant provisions of such payment. Clause 5.6 clause 4.5 shall apply to prepayments made under clause 9.2.1(a8.2.1(a).

Security shortfall. If If, at any time after the Drawdown Date the Security Value shall be less than the Required Security RequirementAmount, the Bank may shall give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower shall Borrowers must either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen (15) days Banking Days of the date of receipt by the Borrower of the Bank’s said notice either: (a) prepay such sum in Dollars part of the Loan as will result in the Security Requirement Value after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to or higher than the Required Security ValueAmount; or (b) within thirty (30) days of the date of receipt by the Borrower of the Bank’s said notice either constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank in its discretion having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Required Security Requirement Amount as at such date; or. (c) pay 2.1 provided that the Bank shall apply such additional amount to the credit prepayments in reduction of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 shall apply to prepayments repayment instalments under clause 9.2.1(a)4.1 pro rata and the amounts of the Loan prepaid hereunder shall not be available to be re-borrowed.

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) either: (a) prepay within a period of fifteen thirty (1530) days of the date of receipt by the Borrower of the Bank’s said notice either: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within thirty (30) days of the date of receipt by the Borrower of the Bank’s said notice constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 4.4 shall apply to prepayments under clause 9.2.1(a8.2.1(a).

Security shortfall. If If, at any time the Security Value shall be less than the Required Security RequirementAmount, the Bank may shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall must either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen thirty (1530) days of the date of receipt by the Borrower of the Bank’s said notice either: (a) prepay such sum in Dollars part of the Loan as will result in the Security Requirement Value after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to or higher than the Required Security ValueAmount; or (b) within thirty (30) days of the date of receipt by the Borrower of the Bank’s said notice either constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank in its discretion having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Required Security Requirement Amount as at such date; or. (ca) pay provided that the Bank shall apply such additional amount to the credit prepayments in reduction of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 shall apply to prepayments repayment instalments under clause 9.2.1(a)4.1 pro rata and the amounts of the Loan prepaid hereunder shall not be available to be re-borrowed.

Security shortfall. If at any time the Security Value shall be less than the relevant 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) shall, within a period of fifteen thirty (1530) days of the date of receipt acceptance by the Borrower of the Bank’s 's said notice notice, either: (a) prepay such sum in Dollars as will result in the relevant Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the relevant Security Requirement as at such date; or (c) pay such additional amount to the credit . The provision of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.4 and 4.5 shall apply to prepayments made under clause 9.2.1(a8.3.1(a).

Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank may shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall either: (unless the Ship has become a Total Lossa) prepay, within a period of fifteen (15) days of the date of receipt by the Borrower of the Bank’s said notice either: (a) prepay notice, such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment prepayment of the Loan (or part thereof) made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within fifteen (15) days of the date of receipt by the Borrower of the Bank’s said notice, constitute to the satisfaction of the Bank such further security for the Loan and any amounts owing under the Master Swap Agreement as shall be acceptable to the Bank Bank, having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date clauses 4.5 and any relevant provisions of such payment. Clause 5.6 4,6 shall apply to prepayments made under this clause 9.2.1(a8.2.1(a).

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 either (unless the Ship has become a Total Lossa) prepay within a period of fifteen thirty (1530) days of the date of receipt by the Borrower of the Bank’s said notice either: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within thirty (30) days of the date of receipt by the Borrower of the Bank’s said notice constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 4.6 shall apply to prepayments under clause 9.2.1(a8.2.1(a).

Security shortfall. If If, at any time after the earlier of (i) Drawdown Date of the second 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 Bank may give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers shall at its discretion either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen fourteen (1514) days of the date of receipt by the Borrower Borrowers of the Bank’s said notice either: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made in accordance with clause 4.1 between the date of the notice and the date of such prepayment) being at least equal to the Security Value; or (b) within fourteen (14) days of the date of receipt by the Borrowers of the Bank’s said notice constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.4, 4.5.4 and 4.5.5 shall apply to prepayments made under clause 9.2.1(a8.2.1(a).

Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank may shall give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers shall either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen thirty (1530) days of the date of receipt by the Borrower Borrowers of the Bank’s said notice either: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within thirty (30) days of the date of receipt by the Borrowers of the Bank’s said notice constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to . The provisions of clauses 4.5 and the credit relevant provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clause 4.6 shall apply to prepayments under clause 9.2.1(a8.2.1(a).

Security shortfall. If If, at any time after the first Drawdown Date, the Security Value shall be less than the Required Security RequirementAmount, the Bank may shall give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower shall Borrowers must either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen thirty (1530) days of the date of receipt by the Borrower Borrowers of the Bank’s said notice either: (a) prepay such sum in Dollars part of the Loan as will result in the Security Requirement Value after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to or higher than the Required Security ValueAmount; or (b) within thirty (30) days of the date of receipt by the Borrower of the Bank’s said notice constitute to the satisfaction of the Bank such further security for the Loan as shall be acceptable to the Bank having a value for security purposes (as determined by the Bank in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Required Security Requirement Amount as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.7 and 4.8 shall apply to prepayments under clause 9.2.1(a8.2.1(a).

Security shortfall. If at any time the Security Value shall be less than the Security Requirement, the Bank may Agent (acting on the instructions of the Majority Banks) shall give notice in writing to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers shall either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen thirty (1530) days of the date of receipt by the Borrower Borrowers of the BankAgent’s said notice either: (a) prepay such sum in Dollars as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within thirty (30) days of the date of receipt by the Borrowers of the Agent’s said notice constitute to the satisfaction of the Bank Agent (acting on the instructions of the Majority Banks) such further security for the Loan as shall be acceptable to the Bank Banks (including, without limitation, security by way of a cash deposit held in a bank account or accounts acceptable to the Agent (acting on the instructions of the Majority Banks) and pledged in favour of the Creditors or any of them but excluding, for the avoidance of doubt, moneys held from time to time in any Account) having a value for security purposes (as determined by the Bank Agent in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.4 and 4.5 shall apply to prepayments made under this clause 9.2.1(a8.2.1(a).

Security shortfall. If at any time the Security Value shall be less than the Required Security RequirementAmount, the Bank may Agent (acting on the instructions of the Banks) shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall must either: (unless the Ship has become a Total Lossa) prepay within a period of fifteen thirty (1530) days of the date of receipt by the Borrower of the BankAgent’s said notice either: (a) prepay such sum in Dollars USD as will result in the Required Security Requirement Amount after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (b) within thirty (30) days of the date of receipt by the Borrower of the Agent’s said notice constitute to the satisfaction of the Bank Agent such further security for the Loan as shall be acceptable to the Bank Banks having a value for security purposes (as determined by the Bank Agent in its absolute discretion, which shall be final, conclusive and binding) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Required Security Requirement Amount as at such date; or (c) pay such additional amount to the credit . The provisions of the Cash Collateral Account as will result in the Security Value after such payment being not less than the Security Requirement as at the date of such payment. Clause 5.6 clauses 4.5 and 4.6 shall apply to prepayments under clause 9.2.1(a8.2.1(a).