Value of additional vessel security. The net realisable value of any additional security which is provided under Clause 25.2 (Provision of additional security; prepayment) which constitutes a first preferred or first priority mortgage over a vessel shall be the Market Value of the vessel concerned.
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Samples: Facility Agreement (Seanergy Maritime Holdings Corp.), Facility Agreement (Seanergy Maritime Holdings Corp.)
Value of additional vessel security. The net realisable value of any additional security which is provided under Clause 25.2 24.2 (Provision of additional security; prepayment) and which constitutes a first preferred or first priority mortgage consists of Security over a vessel shall be the Ship Market Value of the vessel concerned.
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Samples: Assignment Agreement (Taylor Maritime Investments LTD)
Value of additional vessel security. The net realisable realizable value of any additional security which is provided under Clause 25.2 24.2 (Provision of additional security; prepayment) and which constitutes a first preferred or first priority mortgage consists of Security over a vessel shall be the Market Value of the vessel concerned.
Appears in 1 contract
Value of additional vessel security. The net realisable value of any additional security which is provided under Clause 25.2 (Provision of additional security; prepayment) and which constitutes a first preferred or first priority mortgage consists of Security over a vessel shall be the Fair Market Value of the vessel concerned.
Appears in 1 contract
