COLLATERAL MAINTENANCE REQUIREMENTS Sample Clauses

COLLATERAL MAINTENANCE REQUIREMENTS. (a) Borrower shall at all times maintain as Collateral an amount of Qualifying Collateral that has a Fair Market Value that is at least equal to the Collateral Maintenance Level. Borrower shall not assign, pledge, transfer, create any security interest in, sell, or otherwise dispose of any Collateral or interest therein if: (i) such Collateral has been or is required to be specified pursuant to Section 3.4 hereof or is or is required to be held by or on behalf of the Bank pursuant to Section 3.5 hereof, or the Bank has otherwise perfected its security interest in such Collateral; or (ii) at the time of or immediately after such action, Borrower is not or would not be in compliance with the collateral maintenance requirements of the first sentence of this Section 3.3 (a) or there is any other Event of Default under this Agreement. (b) Subject to the additional requirements set forth in Sections 3.4 and 3.5 hereof that may govern Collateral, Collateral shall be held by Borrower in trust for the benefit of, and subject to the direction and control of, the Bank and will be physically safeguarded by Borrower with at least the same degree of care as Borrower uses in physically safeguarding its other property, which shall be no less than the treatment employed by a reasonable and prudent agent in the industry. Without limitation of the foregoing, Borrower shall take all action necessary or desirable to protect and preserve the Collateral and the interest of the Bank therein, including, without limitation, the maintaining of Insurance on property securing First Mortgage Collateral (such policies and certificates of insurance or guaranty relating to such First Mortgage Collateral are herein called "Insurance"), the collection of payments under all mortgages and under all Insurance, and otherwise assuring that all mortgages are serviced in accordance with the standards of a reasonable and prudent servicer in the industry. Borrower, as agent for the Bank, shall collect all payments when due on all Collateral. If the Bank requires, Borrower shall hold all collections and other proceeds of Collateral separate from the other monies of Borrower and apply such collections to the reduction of Indebtedness as it becomes due; otherwise the Bank consents to the use and disposition by Borrower of all such collections in the ordinary course of Borrower’s business.
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COLLATERAL MAINTENANCE REQUIREMENTS. Pledgor further covenants and agrees to comply with the collateral maintenance requirements set forth in Section 5 of the Note. If Pledgor fails to comply with such collateral maintenance requirements, Lender shall have all the rights and remedies of a secured party under the New York Uniform Commercial Code as then in effect (the “UCC”) or other applicable law, and may, in addition to any other right or remedy available to Lender hereunder or under applicable law, without further notice to or consent by Pledgor (except to the extent such notice or consent is required by applicable law and cannot be waived), sell, liquidate or redeem so much of the Collateral and then apply the proceeds thereof to the Obligations as necessary to restore compliance with such collateral maintenance requirements.
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COLLATERAL MAINTENANCE REQUIREMENTS. (a) As of the date hereof, the ATV of the Pledged Shares is US$100 million. (b) If on (i) the first day of any week or (ii) any Release Date (each a “Collateral Testing Date”) the ATV of the Pledged Shares is less than eighty percent (80%) of the Required Amount, the Sellers may, within three (3) Business Days of the Collateral Testing Date, provide written notice to the Guarantor, with a simultaneous copy to the Intermediary, that there is an under-collateralization, and include in such notice reasonably detailed calculations showing the amount of under-collateralization substantially in the form set forth in Exhibit A (such notice, a “Decrease Notice”). Upon receipt of a Decrease Notice delivered in accordance with this Section 4.05(b), the Guarantor shall have five (5) Business Days to deposit (or cause to be deposited) into the Account Additional Pledged Shares (or Cash Collateral) such that the ATV of the Pledged Shares, together with the value of any Cash Collateral on deposit in the Account, is at least equal to the Required Amount, subject to the procedures set forth in clause (d) below; provided that the Guarantor shall at no time at or prior to the Closing be required to have on deposit in the Account a number of Pledged Shares in excess of the Maximum Shares. (c) If on any Collateral Testing Date, the ATV of the Pledged Shares increases to more than one-hundred-thirty percent (130%) of the Required Amount, the Guarantor may, within three (3) Business Days of the Collateral Testing Date, provide written notice to the Sellers, with a simultaneous copy to the Intermediary, that there is an overcollateralization and include in such notice reasonably detailed calculations showing the amount of such overcollateralization substantially in the form set forth in Exhibit B (such notice, an “Increase Notice”). Upon receipt of an Increase Notice delivered in accordance with this Section 4.05(c), the pledge on a number of Pledged Shares (or Cash Collateral, to the extent applicable) shall be released so that five (5) Business Days after the date that an Increase Notice is delivered the ATV of the Pledged Shares that have not been released, together with the value of any Cash Collateral on deposit in the Account, is equal to the Required Amount, subject to the procedures set forth in clause (d) below. (d) If the addressee of any Increase Notice or Decrease Notice reasonably believes there is any error in such notice, such party shall, within three (3) Busines...
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COLLATERAL MAINTENANCE REQUIREMENTS. Collateralized GICs (whether in the form of collateralized investment agreements or master repurchase agreements) typically include a covenant to maintain the required level of collateral, determined as set forth in the collateralized GIC. The market value of collateral pledged to a collateralized GIC, however, is subject to change and may decline below the required level of collateral. If the required level of collateral is not maintained (typically after notice and an opportunity to cure), the GIC holder will usually have the right to terminate the GIC. The GIC Business intends, as a business practice, to take actions necessary to maintain the required level of collateral; however, the relevant GIC Issuer has the right and power under these ALM Procedures not to take such collateral maintenance actions, subject to the following: · All such decisions will require the approval of one of the two most senior officers of the Administrator, who will take into account the factors listed in Section 8.1 above; · In addition, any failure to maintain collateral that could give rise to a GIC termination which would result in a Net Loss (determined as described in Section 8.2 above) will also require the prior approval of the ALCO; and · In addition, at any time the remaining commitment under the Guaranteed Liquidity Facilities is USD 1 Bn or less, any failure to maintain collateral that could give rise to the termination of a GIC having an outstanding principal balance in excess of USD 25MM shall require the prior approval of the ALCO. For the avoidance of doubt, any failure by a GIC Issuer to maintain the required level of collateral under a collateralized GIC due to a decline in market value that results in a GIC termination because the GIC Issuer was unable to pledge on a timely basis eligible collateral under such GIC sufficient to satisfy the collateral requirement, despite its commercially reasonable efforts to do so following notice of such deficiency, shall not constitute non-compliance with these ALM Procedures.
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Related to COLLATERAL MAINTENANCE REQUIREMENTS

  • Maintenance Requirements The Contractor shall ensure and procure that at all times during the Maintenance Period, the Project Highway conforms to the maintenance requirements set forth in Schedule-E (the “Maintenance Requirements”).

  • Listing and Maintenance Requirements Compliance The Company has not in the two years preceding the date hereof received written notice from any stock exchange, market or trading facility on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance with the listing, maintenance or other requirements of such exchange, market, trading or quotation facility. The Company has no reason to believe that it does not now or will not in the future meet any such requirements.

  • Listing and Maintenance Requirements The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating such registration. The Company has not, in the 12 months preceding the date hereof, received notice from any Trading Market on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance with the listing or maintenance requirements of such Trading Market. The Company is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements.

  • Maintenance & Repairs 5.1 Lessee shall at all times be responsible for maintaining at its own expense the leased premises in a clean, orderly and safety condition, except as hereinafter provided. Lessee shall be responsible, at its own expense, to clean and maintain all trade fixtures, machinery and equipment furnished by Lessee within the leased premises. Lessee shall be responsible to deposit normal office waste and rubbish at a location at the Central School as designated by Lessor. 5.2 Lessee shall be responsible to perform all repairs the need for which is caused by Xxxxxx's use of the premises except that Lessor shall be responsible to perform major repairs of a structural nature. Lessor shall be responsible to arrange for removal of waste and rubbish from the location designated as the deposit location for lessees. All costs incurred by Lessor pursuant to the obligations of this Paragraph shall be included within "operating costs". 5.3 Lessor shall provide custodian services for the common areas of Central School. Costs incurred by Lessor in providing such custodian services shall be included within "operating costs".

  • Maintenance, Etc The Company will maintain, preserve and keep, and will cause each Consolidated Subsidiary to maintain, preserve and keep, its properties which are used in the conduct of its business (whether owned in fee or a leasehold interest) in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements and renewals as the Company may determine to be appropriate to the conduct of its business.

  • Compliance Requirements A. Nondiscrimination. The Contractor agrees to comply, and to require its subcontractor(s) to comply, with the nondiscrimination provisions of MCL 37.2209. The Contractor further agrees to comply with the provisions of Section 9:158 of Chapter 112 of the Xxx Arbor City Code and to assure that applicants are employed and that employees are treated during employment in a manner which provides equal employment opportunity.

  • Review of insurance requirements The Security Trustee shall be entitled to review the requirements of this Clause 13 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Majority Lenders, significant and capable of affecting the Owners or the Ships and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the Owners may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

  • Coverage Requirements (08/19) Contractor shall comply with the following insurance requirements:

  • Modification of insurance requirements The Security Trustee shall notify the Borrower of any proposed modification under Clause 13.18 to the requirements of this Clause 13 which the Majority Lenders consider appropriate in the circumstances, and such modification shall take effect on and from the date it is notified in writing to the Borrower as an amendment to this Clause 13 and shall bind the Borrower accordingly.

  • MAINTENANCE & REPAIR Tenant agrees that if there is any delay in maintenance or repairs for reasons beyond Landlord's control, this shall have no effect on Tenant's obligations under this lease.

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