Collateral Deficiency. All security held by the Bank under the terms of this Agreement and the other Loan Documents shall be available as Collateral for the Loans and may be applied to satisfy the Borrower's Obligations and to otherwise perform its duties and obligations under the Loan Documents. The Borrower shall remain liable for any deficiency remaining after such application.
Collateral Deficiency. If, as of any Calculation Date, a Collateral Deficiency exists, the Borrower shall by the third Payment Date immediately following such Calculation Date do either or both of the following: (x) pay an amount to the Collections Account sufficient so that, after application of funds on such third Payment Date in accordance with Section 2.18, such Collateral Deficiency no longer exists or (y) pledge Eligible Aircraft, in such amounts so that such Collateral Deficiency no longer exists.
Collateral Deficiency. If at any point in time Trust determines the estimated number of oz. of Certified 99.99% Pure Gold contained in the Pre-Recycled Gold Ore comprising the Property is less than 10-times the total Physical Ounces of Gold purchased by all gold-ore owners (e.g., collateralization ratio of less than a 10:1), then Trust shall promptly notify Gold-Ore Owner of the current amount of the deficiency, any expected additional increases in the deficiency, and the amount of time it anticipates to cure the deficiency (“Notice of Collateralization Deficiency”). Gold-Ore Owner shall between ninety (90) days and one hundred twenty (120) days after Notice of Collateralization Deficiency have the option of requesting the return of all or part of the remaining balance of its Gold Purchase payments held in Trust Account in certified funds (USD) and terminating its purchase for that corresponding portion of its Physical Ounces of Gold Purchased (“Collateral Deficiency Gold Purchase Termination”), or continuing with this Gold-Ore Purchase Agreement until such time as another Notice of Collateralization Deficiency may be received from Trust.
Collateral Deficiency. If at any point in time Trust determines the estimated number of oz. of Certified 99.99% Pure Gold contained in the Pre-Recycled Gold Ore is less than 10-times the total Physical Ounces of Gold purchased by all gold-ore owners (e.g., collateralization ratio of less than a 10:1), then Trust shall promptly notify Gold-Ore Owner of the current amount of the deficiency, any expected additional increases in the deficiency, and the amount of time it anticipates to cure the deficiency (“Notice of Collateralization Deficiency”). Upon Notice of Collateralization Deficiency Gold-Ore Owner shall have the option of requesting the immediate return of all or part of the remaining balance of its Gold Purchase payments held in Trust Account in certified funds (USD) and/or continuing with the project until such time as another Notice of Collateralization Deficiency may be received from Trust.
Collateral Deficiency. If, as of any Calculation Date, a Collateral Deficiency exists, the Borrower shall by the third Payment Date immediately following such Calculation Date do either or both of the following: (x) prepay an amount of the Drawings sufficient so that, after application of funds to the prepayment of the Drawings on such third Payment Date in accordance with Section 2.08, such Collateral Deficiency no longer exists or (y) pledge cash or cash equivalents in the form of Collateral to the Security Trustee on a first priority and perfected basis, in such amounts so that such Collateral Deficiency no longer exists. For the avoidance of doubt, in the event that the Borrower pledges cash for the purpose of curing a Collateral Deficiency pursuant to clause (y) above, such cash Collateral shall be released to the Borrower promptly (but in no event more than three Business Days) at such time as such cash is no longer necessary for the purpose of curing such Collateral Deficiency.
Collateral Deficiency. Should the aggregate unpaid outstanding principal balance of the Convertible Note (including outstanding portions of unexpired Letters of Credit) at any time be greater than the Collateral Borrowing Base in effect at such time, the Administrative Agent may notify the Borrowers in writing of the deficiency. Within ten (10) days from and after the date of any such deficiency notice the Borrowers shall notify the Administrative Agent in writing of its election to:
Collateral Deficiency. Should the unpaid outstanding principal balance of the Note plus the unfunded portion of outstanding Letters of Credit issued pursuant hereto at any time prior to the Conversion Date be greater than the Revolving Credit Borrowing Base in effect at such time, the Bank may notify the Borrowers in writing of the deficiency. Within fifteen (15) days from and after the date of any such deficiency notice the Borrowers shall notify the Bank in writing of their election to:
Collateral Deficiency. If any Collateral Deficiency exists on the November 15, 2003 Settlement Date after giving effect to the payments made on such Settlement Date pursuant to Section 2.07(c), the Borrower shall, on such November 15, 2003 Settlement Date either (A) pay the amount of such Collateral Deficiency together with accrued interest thereon and the amount, if any, owed to each Lender pursuant to Section 3.04 hereof to the Collection Account, and on the following Settlement Date, or at the sole discretion of the Agent upon receipt, such payment shall be applied by the Agent in accordance with the then applicable provisions of Section 2.07(c) or (B) pledge additional Eligible Railcars and/or Eligible Leases approved by the Agent in its sole discretion pursuant to Section 2.02 and/or other collateral acceptable to the Agent so that such Collateral Deficiency no longer exists."
Collateral Deficiency. If on or before 11:00 am (ET) on any given Business Day (after giving effect to any other payments by such time on such date) the aggregate outstanding amount of the 2006 Term Loan exceeds (i) thirty percent (30%) of the Restricted Shares Current Market Value plus (ii) the sum of (x) the Cash Collateral and (y) the Pledged Acceptable Securities Collateral Amount, the Borrower shall either (a) make a mandatory prepayment of the 2006 Term Loan on such date in an amount equal to such excess or (b) on such date (1) Cash Collateralize and/or (2) Securities Collateralize the 2006 Term Loan by making a Collateral Deficiency Deposit in a combined amount equal to such excess. Notice from the Bank to the Borrower of the occurrence of a Collateral Deficiency, absent manifest error, shall constitute conclusive evidence of a Collateral Deficiency.
