Common use of Minimum Market Value Clause in Contracts

Minimum Market Value. a) The Market Value of the Vessel shall not at any time be less than one hundred and thirty per cent (130%) of the Loan. b) The Borrower shall, at its own expense, arrange for the Market Value of the Vessel to be determined quarterly (or if a Default has occurred, upon the request of the Agent) and shall include the amount of the Market Value in the Compliance Certificate B to be delivered in accordance with paragraph b) of Clause 20.3 (Compliance Certificate B).

Minimum Market Value. (a) The Borrower shall ensure that the Market Value of the Vessel shall not is at any time be less than one hundred and thirty all times at least equal to 125 per cent (130%) cent. of the Loanaggregate outstanding Loans under the Facility. (b) The Borrower shall, at its own expense, arrange for if the Market Value does not comply with the requirements set out in paragraph (a) above, within ten (10) Business Days from receipt of a written demand from the Agent (acting on the instructions of the Vessel Lenders) make prepayment on the Facility, such prepayment to be determined quarterly (or if a Default has occurred, upon the request of the Agent) and shall include the amount of the Market Value in the Compliance Certificate B to be delivered in accordance with paragraph b) of Clause 20.3 (Compliance Certificate B)7.7.