Common use of Asset Maintenance Clause in Contracts

Asset Maintenance. If at any time during the term of the Loan Agreement, the outstanding amount of the Loan is greater than the Permitted Percentage of the Fair Market Value, the Borrower shall, within a period of thirty (30) days following receipt by the Borrower of written notice from the Administrative Agent notifying the Borrower of such excess and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the Borrower), either (i) deliver to the Security Agent such additional collateral as may be satisfactory to the Lenders in their sole discretion of sufficient value to make the aggregate of Fair Market Value plus the additional collateral, equal to the Required Percentage of the outstanding amount of the Loan or (ii) the Borrower shall prepay such amount of the Loan (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.4) as shall result in the Fair Market Value being not less than the Required Percentage

Asset Maintenance. If at any time during the term of the Loan Credit Facility Agreement, the outstanding amount Fair Market Value of the Loan Vessels is greater less than the Permitted Percentage of the Fair Market ValueRequired Percentage, the Borrower Borrowers shall, within a period of thirty (30) days following receipt by the Borrower Borrowers of written notice from the Administrative Agent notifying the Borrower Borrowers of such excess shortfall and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the BorrowerBorrowers), either (i) deliver to the Security Agent Trustee such additional collateral as may be satisfactory to the Lenders in their sole discretion of sufficient value to make the aggregate of Fair Market Value of said Vessel plus the additional collateral, equal to the Required Percentage of the outstanding amount of the Loan Tranche relating to that Vessel or (ii) the Borrower Borrowers shall prepay such amount of the Loan Facility (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.4) as shall result in the Fair Market Value of that Vessels being not less than the Required Percentage.

Asset Maintenance. If at any time during the term of the Loan Credit Facility Agreement, the outstanding amount Fair Market Value of the Loan Vessels is greater less than the Permitted Percentage of the Fair Market ValueRequired Percentage, the Borrower Borrowers shall, within a period of thirty (30) days following receipt by the Borrower Borrowers of written notice from the Administrative Agent notifying the Borrower Borrowers of such excess shortfall and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the BorrowerBorrowers), either (i) deliver to the Security Agent Trustee such additional collateral as may be satisfactory to the Lenders in their sole discretion of sufficient value to make the aggregate of Fair Market Value of said Vessels plus the additional collateral, equal to the Required Percentage of the outstanding amount of the Loan or (ii) the Borrower Borrowers shall prepay such amount of the Loan Facility (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.45.5) as shall result in the Fair Market Value of the Vessels being not less than the Required Percentage.

Asset Maintenance. If at any time during the term of the Loan Credit Facility Agreement, the outstanding amount Fair Market Value of the Loan Vessels is greater less than the Permitted Percentage of the Fair Market ValueRequired Percentage, the Borrower shall, within a period of thirty (30) days following receipt by the Borrower of written notice from the Administrative Agent notifying the Borrower of such excess shortfall and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the Borrower), either (i) deliver to the Security Agent Trustee such additional collateral as may be satisfactory to the Lenders in their sole discretion of sufficient value to make the aggregate of Fair Market Value of said Vessel plus the additional collateral, equal to the Required Percentage of the outstanding amount of the Loan Tranche relating to that Vessel or (ii) the Borrower shall prepay such amount of the Loan Facility (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.4) as shall result in the Fair Market Value of that Vessels being not less than the Required Percentage.

Asset Maintenance. If at any time during the term of the Loan this Agreement, the Fair Market Value of the Vessel is less than the Required Percentage of the outstanding amount of the Loan is greater than the Permitted Percentage of the Fair Market ValueLoan, the Borrower shall, within a period of thirty (30) days following receipt by the Borrower of written notice from the Administrative Facility Agent notifying the Borrower of such excess shortfall and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the Borrower), either (i) deliver to the Security Agent Trustee such additional collateral as may be satisfactory to the Lenders in their sole discretion of sufficient value to make the aggregate of Fair Market Value of the Vessel plus the additional collateral, equal to the Required Percentage of the outstanding amount of the Loan or (ii) the Borrower shall prepay such amount of the Loan (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.4) as shall result in the Fair Market Value of the Vessel being not less than the Required PercentagePercentage of the outstanding amount of the Loan.

Asset Maintenance. If at any time during the term of the Loan Credit Facility Agreement, the outstanding amount Fair Market Value of the Loan Vessels is greater less than the Permitted Percentage of the Fair Market ValueRequired Percentage, the Borrower Borrowers shall, within a period of thirty (30) days following receipt by the Borrower Borrowers of written notice from the Administrative Agent notifying the Borrower Borrowers of such excess shortfall and specifying the amount thereof (which amount shall, in the absence of manifest error, be deemed to be conclusive and binding on the BorrowerBorrowers), either (i) deliver to the Security Agent Trustee such additional collateral as may be satisfactory to the Lenders in their sole discretion of sufficient value to make the aggregate of Fair Market Value of said Vessel plus the additional collateral, equal to the Required Percentage of the outstanding amount of the Loan Tranche relating to that Vessel or (ii) the Borrower Borrowers shall prepay such amount of the Loan Facility (together with interest thereon and any other monies payable in respect of such prepayment pursuant to Section 5.4) as shall result in the Fair Market Value of that Vessels being not less than the Required Percentage