Common use of Security shortfall Clause in Contracts

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: (a) prepay within a period of thirty (30) days of the date of receipt by the Borrowers of the Agents 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 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 Agents said notice constitute to the satisfaction of the Agent such further security for the Loan and any amounts owing under the Master Swap Agreements as shall be acceptable to the Banks having a value for security purposes (as determined by the 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. The provisions of clauses 4.4 and 4.5 shall apply to prepayments under clause 8.2.1(a).

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: (a) prepay within a period of thirty (30) days of the date of receipt by the Borrowers of the Agents 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 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 Agents Agent's said notice constitute to the satisfaction of the Agent Majority Banks such further security for the Loan and any amounts owing under the Master Swap Agreements as shall be acceptable to the Banks having a value for security purposes (as determined by the 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. The provisions of clauses 4.4 and 4.5 shall apply to prepayments under clause 8.2.1(a).

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: (a) prepay within a period of thirty (30) days of the date of receipt by the Borrowers of the Agents 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 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 Agents Agent’s said notice constitute to the satisfaction of the Agent Majority Banks such further security for the Loan and any amounts owing under the Master Swap Agreements as shall be acceptable to the Banks having a value for security purposes (as determined by the 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. The provisions of clauses 4.4 and 4.5 shall apply to prepayments under clause 8.2.1(a).

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: (a) prepay within a period of thirty (30) days of the date of receipt by the Borrowers of the Agents 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 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 Agents Agent’s said notice constitute to the satisfaction of the Agent such further security for the Loan and any amounts owing under the Master Swap Agreements as shall be acceptable to the Banks having a value for security purposes (as determined by the 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. The provisions of clauses 4.4 and 4.5 shall apply to prepayments under clause 8.2.1(a).

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: (a) prepay within a period of thirty (30) days of the date of receipt by the Borrowers of the Agents 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 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 Agents Agent's said notice constitute to the satisfaction of the Agent such further security for the Loan and any amounts owing under the Master Swap Agreements as shall be acceptable to the Banks having a value for security purposes (as determined by the 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. The provisions of clauses 4.4 and 4.5 shall apply to prepayments under clause 8.2.1(a).