Security Value Maintenance Sample Clauses

The Security Value Maintenance clause ensures that the value of collateral or security provided under an agreement remains sufficient to cover the secured obligations. In practice, this clause may require the party providing security to top up or replace collateral if its value falls below a specified threshold, such as due to market fluctuations or depreciation. Its core function is to protect the secured party from the risk of under-collateralization, thereby maintaining the intended level of risk mitigation throughout the term of the agreement.
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Security Value Maintenance ensure that at all times the Security Value is not less than the Security Requirement; and
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Security Value Maintenance. (a) If at any time the Security Value shall be less than the Security Requirement, the Agent may give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall either: (i) prepay within a period of fourteen (14) days of the date of receipt by the Borrower of the Agent's said notice, such part of the total amount of the Facility A Loan, the Facility C Loans and the Facility D Loans outstanding at such time, as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loans made between the date of the notice and the date of such prepayment) being equal to or higher than the Security Value; or (ii) within fourteen (14) days of the date of receipt by the Borrower of the Agent's said notice, constitute to the satisfaction of the Agent (acting on the instructions of the Majority Lenders) such further security (in the form of Security) for the Loans (and any amounts outstanding under any Hedge Agreements) as shall be acceptable to Agent (acting on the instructions of the Majority Lenders) having a value for security purposes (as determined by the Majority Lenders in their absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date. (b) Each of the Collateral Ships shall, for the purposes of this clause 23.53, be valued as and when the Agent shall require and, as to the manner of valuation, in accordance with the provisions of clause 23.37(Valuation of Owned Ships). The value of any of the Collateral Ships determined in accordance with the provisions of clause 23.37(Valuation of Owned Ships) shall be binding upon the Parties until such time as any further such valuation shall be obtained for such Collateral Ship pursuant to this clause 23.53(b) or clause 23.37(Valuation of Owned Ships). (c) All costs in connection with the Agent obtaining any valuation of any of the Collateral Ships referred to in this clause 23.53 and in Schedule 3, and any valuation either of any additional security for the purposes of ascertaining the Security Value at any time or necessitated by the Borrower electing to constitute additional security pursuant to clause 23.53(a)(ii), shall be borne by the Borrower. (d) For the purposes of this clause 23.53, the value of any additional security provided or to be provided to the Agent shall be determined by the Majority Lenders i...
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Security Value Maintenance. (a) Security shortfall If at any time on or after the Delivery Date for the first of the Vessels to be delivered, the Security Value shall be less than the applicable Security Requirement, the Agent may, and if so directed by the Lenders, give notice to the Borrowers requiring that such deficiency be remedied and then the Borrowers shall either: (i) prepay within a period of thirty (30) days of the date of receipt by the Borrowers of the Agent's said notice such sum in Dollars as will result in the applicable Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (ii) within fifteen (15) days of the date of receipt by the Borrowers of the Agent's said notice constitute to the satisfaction of the Agent such further security for the Loan as shall be acceptable to the Agent (acting on the instructions of the Majority Lenders) having a value for security purposes (as determined by the Agent (acting on the instructions of the Majority Lenders) in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the applicable Security Requirement as at such date. Such additional security shall be constituted by;
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Security Value Maintenance. The Borrower undertakes with each of the Finance Parties that, from the date falling 30 months after the Drawdown Date and throughout the remainder of the Security Period thereafter, it shall ensure that the Security Value is not less than the Security Requirement.
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Security Value Maintenance 
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