Definition of Post-Disposal Security Value Ratio

  1. Post-Disposal Security Value Ratio means the ratio which the Security Value (calculated in accordance with clause 8.2.2(e) and on the basis that the Ship is an Excluded Ship) bears to the Security Requirement (calculated so as to include prepayment of the Disposal Reduction Amount);

Definition of Post-Disposal Security Value Ratio in Loan Agreement

Post-Disposal Security Value Ratio means the ratio which the Security Value (calculated in accordance with clause 8.2.2(e) and on the basis that the Ship is an Excluded Ship) bears to the Security Requirement (calculated so as to include prepayment of the Disposal Reduction Amount);