Common use of Loss of Value Clause in Contracts

Loss of Value. Borrower shall immediately, and in any event within five (5) Business Days, notify Mortgagee of any event causing any deterioration, loss or depreciation in value of any substantial portion of the Collateral and Borrower's best estimate of the amount of such deterioration, loss or depreciation.

Appears in 2 contracts

Sources: Mortgage and Security Agreement (Aerocentury Corp), Loan and Security Agreement (Aerocentury Corp)

Loss of Value. The Borrower shall immediatelypromptly, and in any event within five (5) Business Days, notify the Mortgagee in writing of any event causing any material deterioration, loss or unscheduled depreciation in value of any substantial portion of the Collateral and the Borrower's ’s best estimate of the amount of such deterioration, loss or depreciation.

Appears in 1 contract

Sources: Credit Agreement (Willis Lease Finance Corp)