Common use of Minimum Value Clause in Contracts

Minimum Value. The Market Value of the Ships pursuant to the attached survey is [•]. The Borrowers shall ensure that the Market Value of the Ships shall be at least the higher of: (a) one hundred and thirty-five per cent (135%) of the amount outstanding under the Nordea Facility at any time; and (b) [●] per cent ([●]%) of the aggregate of (i) the amount outstanding under the Nordea Facility and (ii) the Advance at any time; The covenant in Clause 14.2.3 (Minimum value) is thus [not] satisfied.]