Minimum Market Value. Following (a) the date of this Agreement and until the three (3) year anniversary of the date of this Agreement, the Borrowers will procure that the aggregate Market Value of the Vessels is at least one hundred per cent. (100%) of the sum of the then aggregate outstanding principal amount of the Facility A Loans; and (b) the three (3) year anniversary of this Agreement and until the end of the Security Period, the Borrowers will procure that the aggregate Market Value of the Vessels is at least hundred and twenty-five per cent. (125%) of the sum of the then aggregate outstanding principal amount of the Facility A Loans.
Appears in 2 contracts
Sources: Senior Secured Credit Facilities Agreement, Senior Secured Credit Facilities Agreement (KNOT Offshore Partners LP)