Creation of additional security. If, at any time during the subsistence of this Agreement, the Bank is of the opinion that the security provided for the Facility has become inadequate to cover the Facility then outstanding, then, on the Bank advising the Borrower to that effect, the Borrower shall procure, provide and furnish to the Bank, to the satisfaction of the Bank such additional security as may be acceptable to the Bank to cover such deficiency.
Creation of additional security. The value of any additional security which the Borrower offers to provide to remedy all or part of a shortfall in the amount of the Security Value will only be taken into account for the purposes of determining the Security Value if and when:
(a) that additional security, its value and the method of its valuation have been approved by the Majority Lenders, it being agreed that cash collateral provided in dollars or in the form of letters of credit denominated in dollars shall always be acceptable to the Lenders, and shall be valued at par;
(b) a Security Interest over that security has been constituted in favour of the Agent or (if appropriate) the Finance Parties in an approved form and manner;
(c) this Agreement has been unconditionally amended in such manner as the Agent requires in consequence of that additional security being provided; and
(d) the Agent, or its duly authorised representative, has received such documents and evidence it may require in relation to that amendment and additional security including documents and evidence of the type referred to in Schedule 3 in relation to that amendment and additional security and its execution and (if applicable) registration,
Creation of additional security. The value of any additional security which the Borrower offers to provide pursuant to Section 6.09(a) will only be taken into account for the purposes of determining the BB Ratio if and when:
(a) that additional security, its value and the method of its valuation have been approved by the Administrative Agent (and, where required, the holders of any Additional Secured Debt), provided that (i) cash and (ii) any vessel which could be a Substitute Vessel (by meeting the criteria set forth in Section 6.05 and said conditions are met (other than, for the avoidance of doubt, the removal of any Collateral Vessel)), shall be approved additional security;
(b) a Security Interest over that security has been constituted in favor of the Security Trustee in an approved form and manner;
(c) the Loan Documents have been unconditionally amended in such a manner as the Administrative Agent and Borrower reasonably agree in consequence of that additional security being provided; and
(d) the Administrative Agent, or its duly authorized representative, has received such documents and evidence it may reasonably require in relation to that amendment and additional security including documents and evidence of the type referred to in Article IV in relation to that amendment and additional security and its execution and (if applicable) registration.
Creation of additional security. The value of any additional security which the Borrower offers to provide to remedy all or part of a shortfall in the amount of the Security Value will only be taken into account for the purposes of determining the Security Value if and when:
(a) that additional security, its value and the method of its valuation have been approved by the Lenders;
(b) a Security Interest over that security has been constituted in favour of the Security Agent or (if appropriate) the Finance Parties in an approved form and manner;
(c) this Agreement has been unconditionally amended in such manner as the Agent requires in consequence of that additional security being provided; and
(d) the Agent, or its duly authorised representative, has received such documents and evidence it may reasonably require in relation to that amendment and additional security including documents and evidence of the type referred to in Schedule 3 in relation to that amendment and additional security and its execution and (if applicable) registration.
Creation of additional security. The value of any additional security which the Borrower offers to provide to remedy all or part of a shortfall in the amount of the Security Value will only be taken into account for the purposes of determining the Security Value if and when:
Creation of additional security. If, at any time during the subsistence of the Facility Agreement, ICICI Bank is of the opinion that the security provided for the Facility has become inadequate to cover the Facility then outstanding, then, on ICICI Bank advising the Company to that effect, the Company shall procure, provide and furnish to ICICI Bank, to the satisfaction of ICICI Bank such additional security as may be acceptable to ICICI Bank to cover such deficiency.
Creation of additional security. If, at any time during the subsistence of this Agreement, IREDA is of the opinion that the security provided by the Borrower has become inadequate to cover the balance of the Loan then outstanding, then, on IREDA advising the Borrower to that effect, the Borrower shall provide and furnish to IREDA, to their satisfaction such additional security as may be acceptable to IREDA to cover such deficiency.
Creation of additional security. The value of any additional security which the Borrower offers to provide to remedy all or part of a shortfall in the amount of the Security Value will only be taken into account for the purposes of determining the Security Value if and when:
(a) that additional security, its value and the method of its valuation have been approved by the Required Lenders;
(b) a Security Interest over that security has been constituted in favor of the Security Agent or (if appropriate) the Finance Parties in an approved form and manner;
(c) this Agreement has been unconditionally amended in such manner as the Administrative Agent and/or the Security Agent (on the instructions of the Required Lenders) requires in consequence of that additional security being provided; and
(d) the Administrative Agent, the Security Agent or its duly authorized representative, has received such documents and evidence as it may require in relation to that amendment and additional security including documents and evidence of the type referred to in Schedule 3 (Conditions precedent) in relation to that amendment and additional security and its execution and (if applicable) registration.
Creation of additional security. The value of any additional security which the Company offers to provide pursuant to Section 10.3(a) will only be taken into account for the purposes of determining the Asset Cover Ratio if and when:
(a) any additional security other than the Approved Additional Security, its value and the method of its valuation have been approved by the Required Holders;
(b) any deposit of cash is made in accordance with Section 10.5(c)(i);
(c) a Security Interest over that security has been constituted in favor of the Security Trustee in an approved form and manner;
(d) except for Approved Additional Security, the Financing Documents have been unconditionally amended in such a manner as the Company and the Required Holders reasonably agree in consequence of that additional security being provided; and
(e) the Notes Administrative Agent has received such documents and evidence it may reasonably require in relation to that amendment and additional security including documents and evidence of the type referred to in Section 4 in relation to that amendment and additional security and its execution and (if applicable) registration.
Creation of additional security. If, at any time during the subsistence of this Agreement, the Lender is of the opinion that the security provided by the Borrower has become inadequate to cover the balance of the Loan then outstanding, then, on the Lender advising the Borrower to that effect, the Borrower shall provide and furnish to the Lender, to the satisfaction of the Lender such additional security as may be acceptable to the Lender to cover such deficiency. The Borrower will not be required to furnish security totaling more than one hundred and twenty (120%) percent of the unpaid balance of principal and accrued interest on the loan.
