Collateral Maintenance. The Borrower will not permit the sum of (x) the Aggregate Appraised Value of the Collateral Vessels which have not been sold, transferred, lost or otherwise disposed of (it being understood that permitted chartering arrangements do not constitute disposals for this purpose) and (y) any Additional Collateral to fall below an amount that is equal to or less than on any date from and after the Closing Date, 140% of the aggregate outstanding principal amount of the Loans; provided that any non-compliance with this Section 8.07(d) shall not constitute an Event of Default (but shall constitute a Default), so long as within 60 days of the occurrence of such noncompliance, the Borrower shall either (x) post Additional Collateral reasonably acceptable to the Required Lenders (and shall during such period, and prior to satisfactory completion thereof, be diligently carrying out such actions) or (y) prepay Loans pursuant to Section 4.02(c) in an amount sufficient to cure such non-compliance.
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Samples: Credit Agreement (Scorpio Bulkers Inc.), Credit Agreement (Scorpio Bulkers Inc.)
Collateral Maintenance. The Borrower will not permit permit, at all times, the sum of (xi) the Aggregate Appraised Value of the Collateral Vessels which have not been sold, transferred, lost or otherwise disposed of (it being understood that permitted chartering arrangements do not constitute disposals for this purpose) are subject to a Collateral Vessel Mortgage and (yii) the Fair Market Value of any Additional Collateral to fall below an amount that is equal to or less than on any date from and after the Closing Date, 140135% of the aggregate outstanding principal amount of the LoansTerm Loans and Revolving Loans (but not to include, for the avoidance of doubt, any unutilized Revolving Loan Commitment); provided that any non-compliance with this Section 8.07(d8.10(d) shall not constitute an Event of Default (but shall constitute a Default), so long as within 60 thirty (30) days of the occurrence of such noncompliancenon-compliance, the Borrower shall either (x) post Additional Collateral reasonably acceptable to the Required Lenders (and shall during such period, and prior to satisfactory completion thereof, be diligently carrying out such actions) or (y) prepay Loans pursuant to Section 4.02(c) in an amount sufficient to cure such non-compliance.
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Samples: Credit Agreement (Diamond S Shipping Inc.), Credit Agreement (Diamond S Shipping Inc.)
Collateral Maintenance. The Borrower will not permit permit, at all times, the sum of (xi) the Aggregate Appraised Value of the Collateral Vessels which have not been sold, transferred, lost or otherwise disposed of (it being understood that permitted chartering arrangements do not constitute disposals for this purpose) and (yii) the fair market value of any Additional Collateral to fall below an amount that is equal to or less than on any date from and after the Closing Date, 140135% of the aggregate outstanding principal amount of the LoansTerm Loans and Revolving Loans (but not to include, for the avoidance of doubt, any unutilized Revolving Loan Commitment); provided that any non-compliance with this Section 8.07(d) shall not constitute an Event of Default (but shall constitute a Default), so long as within 60 thirty (30) days of the occurrence of such noncompliancenon-compliance, the Borrower shall either (x) post Additional Collateral reasonably acceptable to the Required Lenders (and shall during such period, and prior to satisfactory completion thereof, be diligently carrying out such actions) or (y) prepay Loans pursuant to Section 4.02(c) in an amount sufficient to cure such non-compliance.
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Samples: Credit Agreement (Diamond S Shipping Inc.), Credit Agreement (Diamond S Shipping Inc.)
Collateral Maintenance. The Borrower will not permit the sum of (x) the Aggregate Appraised Value of the Collateral Vessels which have not been sold, transferred, lost or otherwise disposed of (it being understood that permitted chartering arrangements do not constitute disposals for this purpose) and (y) any Additional Collateral to fall below an amount that is equal to or less than on any date from and after the Closing DateFifth Amendment Effective date, 140% of the aggregate outstanding principal amount of the Loans; provided that any non-compliance with this Section 8.07(d8.07(e) shall not constitute an Event of Default (but shall constitute a Default), so long as within 60 days of the occurrence of such noncompliance, the Borrower shall either (x) post Additional Collateral reasonably acceptable to the Required Lenders (and shall during such period, and prior to satisfactory completion thereof, be diligently carrying out such actions) or (y) prepay Loans pursuant to Section 4.02(c) in an amount sufficient to cure such non-compliance.β.
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Collateral Maintenance. The Borrower will not permit permit, at all times, the sum of (xi) the Aggregate Appraised Value of the Collateral Vessels which have not been sold, transferred, lost or otherwise disposed of (it being understood that permitted chartering arrangements do not constitute disposals for this purpose) and (yii) the fair market value of any Additional Collateral to fall below an amount that is equal to or less than on any date from and after the Closing Date, 140130% of the aggregate outstanding principal amount of the Loans; provided that any non-compliance with this Section 8.07(d) shall not constitute an Event of Default (but shall constitute a Default), so long as within 60 30 days of the occurrence of such noncompliancenon-compliance, the Borrower shall either (x) post Additional Collateral reasonably acceptable to the Required Lenders (and shall during such period, and prior to satisfactory completion thereof, be diligently carrying out such actions) or (y) prepay Loans pursuant to Section 4.02(c) in an amount sufficient to cure such non-compliance.
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Collateral Maintenance. The Borrower will not permit permit, at all times, the sum of (xi) the Aggregate Appraised Value of the Collateral Vessels which have not been sold, transferred, lost or otherwise disposed of (it being understood that permitted chartering arrangements do not constitute disposals for this purpose) and (yii) the fair market value of any Additional Collateral to fall below an amount that is equal to or less than on any date from and after the Closing Date, 140% of the aggregate outstanding principal amount of the Loans; provided that any non-compliance with this Section 8.07(d8.07(b) shall not constitute an Event of Default (but shall constitute a Default), so long as within 60 30 days of the occurrence of such noncompliancenon-compliance, the Borrower shall either (x) post Additional Collateral reasonably acceptable to the Required Lenders (and shall during such period, and prior to satisfactory completion thereof, be diligently carrying out such actions) or (y) prepay Loans pursuant to Section 4.02(c) in an amount sufficient to cure such non-compliance.
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Collateral Maintenance. The Borrower will not permit the sum of (xi) the Aggregate Appraised Value of the Collateral Vessels which have not been sold, transferred, lost or otherwise disposed of (it being understood that permitted chartering arrangements do not constitute disposals for this purpose) and (yii) any Additional Collateral to fall below an amount that is equal to or less than on any date from and after (x) 130% or (y) or, at all times during the Closing DateSpecified Period, 140% 145%, of the aggregate outstanding principal amount of the Loans; provided that any non-compliance with this Section 8.07(d) shall not constitute an Event of Default (but shall constitute a Default), so long as within 60 30 days of the occurrence of such noncompliancenon-compliance, the Borrower shall either (x) post Additional Collateral reasonably acceptable to the Required Lenders (and shall during such period, and prior to satisfactory completion thereof, be diligently carrying out such actions) or (y) prepay Loans pursuant to Section 4.02(c) in an amount sufficient to cure such non-compliancenoncompliance.
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Collateral Maintenance. The Borrower will not permit permit, at all times, the sum of (xi) the Aggregate Appraised Value of the Collateral Vessels which have not been sold, transferred, lost or otherwise disposed of (it being understood that permitted chartering arrangements do not constitute disposals for this purpose) and (yii) the fair market value of any Additional Collateral to fall below an amount that is equal to or less than on any date from and after (x) 135% or (y) or, at all times during the Closing DateSpecified Period, 140% 150%, of the aggregate outstanding principal amount of the Loans; Loans provided that any non-compliance with this Section 8.07(d) shall not constitute an Event of Default (but shall constitute a Default), so long as within 60 30 days of the occurrence of such noncompliancenon-compliance, the Borrower shall either (x) post Additional Collateral reasonably acceptable to the Required Lenders (and shall during such period, and prior to satisfactory completion thereof, be diligently carrying out such actions) or (y) prepay Loans pursuant to Section 4.02(c) in an amount sufficient to cure such non-compliance.
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