Common use of Minimum required security cover Clause in Contracts

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers that: (a) the aggregate of the Market Values of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 per cent. of the aggregate of the Loan and the Swap Exposure.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of the Market Values of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 1515 is, is at any time during the Security Period below 140 120 per cent. of the aggregate of an amount equal to the Loan and less any cash held in accounts pledged to the Swap ExposureLenders.

Minimum required security cover. Clause 15.2 applies if the Agent notifies in writing the Borrowers Borrower that: (a) the aggregate Market Value of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 15; plus, is below 140 an amount equal to 125 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of the Market Values market values (determined as provided in Clause 15.3) of the Ships; plus (b) the amount standing to the credit of the Collateral Account; plus (c) the net realisable value of any additional security previously provided under this Clause 15, is below 140 200 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers Borrower that: (a) the aggregate Market Value of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 130 per cent. , of the aggregate of the Loan and the Swap Exposure.

Minimum required security cover. Clause 15.2 (Provision of additional security; prepayment) applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of the Fair Market Values (determined as provided in Clause 15.3 (Valuation of Ship)) of the ShipsShips subject to a Mortgage; plus (b) the net realisable value of any additional security previously provided under this Clause 15, ; is below 140 per cent. 140% of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers that: (a) the aggregate of the Market Values market values (determined as provided in Clause 15.3) of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 130 per cent. cent of the aggregate of the Loan Total Commitments and of the Swap ExposureExposure under each Master Agreement.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of (i) the aggregate Market Values Value of the ShipsShip, RAPALLO and the Collateral Ship and (ii) any amounts standing to the credit of the Retention Account; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 per cent. the Relevant Percentage of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers that: (a) the aggregate of the Market Values market values (determined as provided in Clause 15.3) of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 130 per cent. of the aggregate of the Loan Total Commitments and of the Swap ExposureExposure under each Master Agreement.

Minimum required security cover. Clause 15.2 24.2 (Provision of additional security; prepayment) applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of the Market Values market values (determined as provided in Clause 24.3 (Valuation of Ships) of the ShipsShips subject to a Mortgage; plus (b) the net realisable value of any additional security previously provided under this Clause 15, 24; is below 140 per cent. the Relevant Percentage of the aggregate of (i) the Loan Loans and (ii) the Swap ExposureHedge Exposure of each Hedging Counterparty.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers (at any time other than during the Waiver Period) that: (a) the aggregate of the Market Values Value of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 135 per cent. cent of the aggregate of (i) the Loan and (ii) the Swap Exposure.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (ai) the aggregate of the Fair Market Values Value of the Ships; plus (bj) the net realisable value of any additional security previously provided under this Clause 15, is below 140 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of the Fair Market Values (determined as provided in Clause 15.3) of the Shipseach Ship subject to a Mortgage; plus (b) the net realisable value of any additional security previously provided under this Clause 15, ; is below 140 125 per cent. of the aggregate of the Term Loan and the Swap ExposureNewbuilding Loan.

Minimum required security cover. Clause 15.2 (Provision of additional security; prepayment) applies if the Agent notifies the Borrowers that: (a) the aggregate of the Fair Market Values (determined as provided in Clause 15.3 (Valuation of the Ships) of each Ship subject to a Mortgage; plus (b) the net realisable value of any additional security previously provided under this Clause 15, 15 (Security Cover); is below 140 125 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers that: (a) the aggregate of the Market Values Value of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 125 per cent. of the aggregate amount of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 (Provision of additional security; prepayment) applies if (after a Ship has been delivered to an Owner under the Shipbuilding Contract) the Agent notifies the Borrowers Borrower that: (a) the aggregate Market Value (determined as provided in Clause 15.3 (Valuation of Ship)) of the Market Values of the Shipsdelivered Ships subject to a Mortgage; plus (b) the net realisable value of any additional security previously provided under this Clause 1515 (Security Cover), is below 140 135 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers Borrower that: (a) the aggregate Market Value of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 per cent. the Relevant Percentage (i) of the aggregate of the Loan and (ii) the Swap ExposureExposure less any monies at any relevant time standing to the credit of the Retention Account which have been transferred to that account pursuant to Clause 17.2(a).

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers at any time (other than during the Waiver Period) that: (a) the aggregate of the Market Values Value of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 125 per cent. of the aggregate amount of the Loan and the Swap Exposure.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of the Market Values of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15Clause15, is below 140 per cent. the Relevant Percentage of the aggregate of the Loan and the any Swap Exposure.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers Borrower that: (a) the aggregate of the Market Values Value of the Mortgaged Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 per cent. the Relevant Percentage of the aggregate of the Loan and the Swap Exposure.Loan. In this Clause 14.1:

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers that: (a) the aggregate of the Market Values of the Ships; plus (b) the Minimum Liquidity Amount standing to the credit of the Liquidity Account pursuant to Clause 11.17 (but excluding any Additional Liquidity Amount); plus (c) the net realisable value of any additional security previously provided under this Clause 15, is below 140 an amount equal to 130 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if if, at any relevant time during the Security Period, the Agent notifies the Borrowers that: (a) the aggregate of the Market Values Value of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 125 per cent. cent of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers that: (a) a. the aggregate of the Fair Market Values Value of the Ships; plus (b) b. the net realisable value of any additional security previously provided under this Clause 15, is below 140 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers that: (a) the aggregate of the Market Values Value of the Mortgaged Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 an amount equal to 125 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers that: (a) the aggregate of the Market Values market values (determined as provided in Clause 15.3) of the Shipseach Ship subject to a Mortgage; plus (b) the net realisable value of any additional security previously provided under this Clause 15, ; is below 140 120 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers (other than during the Waiver Period) that: (a) the aggregate of the Market Values Value of the Original Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 125 per cent. , of the aggregate amount of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 15,2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate Market Value of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 15, ; is below 140 125 per cent. , of the aggregate of the Loan and the Swap Exposure.

Minimum required security cover. Clause 15.2 applies if (after the Delivery Date) the Agent notifies the Borrowers Borrower that, according to the determination mechanism under Clause 15.3: (a) the aggregate market value (determined as provided in Clause 15.3) of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 125 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers that: (a) the aggregate of the Market Values of the Mortgaged Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 per cent. an amount equal to the Relevant Percentage of the aggregate of (A) the Loan and (B) any Swap Exposure less the Swap ExposureMinimum Liquidity standing to the credit of the Liquidity Account pursuant to Clause 11.17 at the relevant time.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate market value (determined as provided in Clause 15.3) of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 15, ; is below 140 120 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers Borrower that: (a) the aggregate of the Market Values Value of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 130 per cent. of the aggregate of the Loan and the Swap Exposure.

Minimum required security cover. Clause 15.2 13.2 applies if the Agent Lender notifies the Borrowers Borrower at any time (other than during the Waiver Period) that: (a) the aggregate Market Value of the Market Values of the ShipsCollateral Ship; plus (b) the net realisable value of any additional security previously provided under this Clause 151413, is below 140 125 per cent. of the aggregate of the (i) Loan and (ii) the Swap Exposure.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers Borrower that: (a) the aggregate Market Value of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 per cent. the Relevant Percentage of the aggregate of (i) the Loan and (ii) the Swap Exposure.

Minimum required security cover. Clause 15.2 17.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate Fair Market Value of the Market Values of the ShipsOcean Rig Shares; plus (b) the net realisable value of any additional security previously provided under this Clause 15, 17; is below 140 150 per cent. of the aggregate of the Loan and the Swap ExposureLoans.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers Borrower that: (a) the aggregate Market Value of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 15, 14 is below 140 125 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers that: (a) the aggregate of the Fair Market Values Value of the Shipseach Ship subject to a Mortgage; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 130 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 (Provision of additional security; prepayment) applies if the Agent Lender notifies the Borrowers that: (a) the aggregate of the Fair Market Values Value of the Shipseach Ship subject to a Mortgage; plus plus (b) the net realisable value of any additional security previously provided under this Clause 1514 (Security cover), is below 140 115 per cent. cent of the aggregate of the Loan and the Swap ExposureLoan.”

Minimum required security cover. Clause 15.2 applies if the Agent Lender notifies the Borrowers that: (a) the aggregate of the Market Values market values (determined as provided in Clause 15.3) of the Ships; plus (b) the net realisable value of any additional additionally security previously provided under this Clause 15, 15 is below 140 125 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers Borrower that: (a) the aggregate Market Value of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 130 per cent. of the aggregate of the Loan and the Swap Exposure.

Minimum required security cover. Clause 15.2 13.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate Fair Market Value of the Market Values of the ShipsOcean Rig Shares; plus (b) the net realisable value of any additional security previously provided under this Clause 15, 13; is below 140 150 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if (after the Ship has been delivered to the Borrower under the Shipbuilding Contract) the Agent notifies the Borrowers Borrower that, according to the determination mechanism under Clause 15.3: (a) the aggregate market value (determined as provided in Clause 15.3) of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 120 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers that: (a) the aggregate of the Market Values of the Mortgaged Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 per cent. the Relevant Percentage of the aggregate of the Loan and the Swap Exposure.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of the Fair Market Values of the Shipseach Ship; plus (b) the net realisable value of any additional security previously provided by the Borrower under this Clause 15, ; is below 140 154 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if if, at any relevant time during the Security Period, the Agent notifies the Borrowers that: (a) the aggregate of the Market Values of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 125 per cent. cent of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers that: (a) the aggregate of the Market Values of the Mortgaged Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 1515 (for the avoidance of the doubt excluding any balance standing to the credit of the Liquidity Account pursuant to Clause 11.18), is below 140 an amount equal to 125 per cent. of the aggregate of (A) the Loan and the (B) any Swap Exposure.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of the Fair Market Values Value of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 per cent. of the aggregate of the Loan and the Swap ExposureLoan.";

Minimum required security cover. Clause 15.2 applies if the Facility Agent notifies the Borrowers Borrower that: (a) the aggregate Market Value of the Market Values of the ShipsShips subject to a Mortgage; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 125 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers Borrower that: (a) the aggregate Market Value of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 120 per cent. of the aggregate of the Loan and the Swap Exposure.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of the Market Values Value of the Mortgaged Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 per cent. an amount equal to the Relevant Percentage of the aggregate of (i) the Loan and the (ii) any Swap Exposure.

Minimum required security cover. Clause 15.2 applies if if, at any relevant time during the Security Period, the Agent notifies the Borrowers that: (a) the The aggregate of the Market Values of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 125 per cent. cent of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers that: (a) the aggregate of the Market Values Value of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 125 per cent. of the aggregate amount of the Loan and the Swap Exposure.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers that: (a) the aggregate of (a) the Market Values of the Ships subject to a Mortgage plus the aggregate of the Market Values of the Ships; plus (b) the net realisable value of Collateral Ships less at any additional security previously provided under this Clause 15, is below 140 per cent. of relevant time the aggregate of (i) the principal amount outstanding under the Existing Loan Agremeent and (ii) any swap exposure under the Swap Exposure.Existing Master Agreement; plus

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers that: (a) the aggregate of the Market Values market values (determined as provided in Clause 14.3) of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, 14; is below 140 one hundred and twenty five per cent. (125%) of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers Borrower that: (a) the aggregate Market Value (determined as provided in Clause 14.3) of the Market Values of the ShipsShip; plus (b) the Minimum Liquidity maintained in the Minimum Liquidity Account; plus (c) the net realisable value of any additional security previously provided (if applicable) under this Clause 1514, is below 140 135 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of the Market Values of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 per cent. the Relevant Percentage of the aggregate of the Loan and any Swap Exposure Provided that during the Swap Exposureperiod commencing on the date of the Amending and Restating Agreement and ending on 30 June 2014 (inclusive) any amounts standing to the credit of the Accounts shall be deducted from such aggregate.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers that: (a) the aggregate of the Market Values Value of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 135 per cent. of the aggregate of (i) the Loan and (ii) the Swap Exposure.

Minimum required security cover. Clause 15.2 13.2 applies if the Agent Lender notifies the Borrowers Borrower at any time (other than during the Waiver Period) that: (a) the aggregate Market Value of the Market Values of the ShipsCollateral Ship; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 125 per cent. , of the aggregate of the (i) Loan and (ii) the Swap Exposure.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower (at any time other than during the Waiver Period) that: (a) the aggregate Market Value of the Ship plus the aggregate Market Values Value of the New Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 per cent. of the aggregate of the Loan and the Swap Exposure.”

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate of the Fair Market Values Value of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 applies if the Agent notifies the Borrowers Borrower that: (a) the aggregate Market Value (determined as provided in Clause 15.3) of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional security previously provided under this Clause 15, ; is below 140 125 per cent. of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 (Provision of additional security; prepayment) applies if the Agent notifies the Borrowers that: (a) the aggregate of the Fair Market Values (determined as provided in Clause 15.3 (Valuation of Ship)) of the ShipsShips subject to a Mortgage; plus (b) the net realisable value of any additional security previously provided under this Clause 15, ; is below 140 per cent. 130% of the aggregate of the Loan and the Swap ExposureLoan.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers that: (a) the aggregate of the Market Values of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, Clause; is below 140 120 per cent. cent of the aggregate of the Loan Advances and the Swap Exposure.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers Borrower that: (a) the aggregate market value (determined as provided in Clause 14.5) of the Market Values of the ShipsShip; plus (b) the net realisable value of any additional additionally security previously provided under this Clause 15, 14 is below 140 125 per cent. of the aggregate of the Loan and the Swap ExposureMaster Agreement Liabilities.

Minimum required security cover. Clause 15.2 applies applies, at any time after 30 September 2017, if the Agent notifies the Borrowers that: (a) the aggregate of the Market Values Value of the Mortgaged Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140 an amount equal to 120 per cent. of the aggregate of the Loan and the Swap Exposure.

Minimum required security cover. Clause 15.2 14.2 applies if the Agent Lender notifies the Borrowers that: (a) the aggregate of the Market Values Value of the Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140 per cent. the Relevant Percentage of the aggregate of the Loan and the Swap Exposure.Loan: