Minimum Value. The Market Value of the Vessel pursuant to the attached valuation reports is USD [●]. The Market Value of the Vessel shall not at any time be less than one hundred and thirty per cent (130%) of the Loan. The requirement set out in Clause 23.3 (Minimum Market Value) is thus [not] satisfied. We confirm that, as of the date hereof no event or circumstances has occurred and is continuing which constitute or may constitute and Event of Default. for and on behalf of By: Name: Title: To: DnB NOR Bank ASA, as Agent From: [●] (the “Existing Lender” and [●] (the “New Lender”) Date: [●] 1 We refer to the Agreement. This is a Transfer Certificate. Terms defined in the Agreement have the same meaning in this Transfer Certificate unless given a different meaning in this Transfer Certificate. a) The Existing Lender and the New Lender agree to the Existing Lender transferring to the New Lender all or part of the Existing Lender’s Commitment, rights and obligations referred to in the Schedule in accordance with 25.4 (Procedure for transfer).
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Sources: Term Loan Facility Agreement (DHT Holdings, Inc.), Term Loan Facility Agreement (DHT Holdings, Inc.)