Common use of Collateral Coverage Clause in Contracts

Collateral Coverage. The Aggregate Appraised Value of the Mortgaged Vessels shall at all times be at least 150% of the then applicable Total Commitment.

Appears in 1 contract

Sources: Credit Agreement (Trico Marine Services Inc)

Collateral Coverage. The Aggregate Appraised Value of the Mortgaged Vessels shall at all times be at least 150% of the then applicable aggregate Total Commitment.

Appears in 1 contract

Sources: Credit Agreement (Trico Marine Services Inc)

Collateral Coverage. The Aggregate Appraised Value of the Mortgaged Vessels shall at all times be at least 150% of the then applicable aggregate outstanding principal amount of the Total Commitment.

Appears in 1 contract

Sources: Credit Agreement (Trico Marine Services Inc)