Common use of Margin Review Clause in Contracts

Margin Review. For the purposes of determining the Margin in respect of all Tranches which is to apply during each Margin Period, the Agent shall determine the Security Cover Percentage on each Margin Review Date by reference to valuations of all the Ships subject to a Mortgage at that time which comply with the requirements of Clause 15.

Margin Review. For the purposes of determining the Margin in respect of all Tranches which is to apply during each Margin Period, the Agent shall determine the Security Cover Percentage on each Margin Review Date by reference to valuations of all the Ships subject to a Mortgage Ship at that time which comply with the requirements of Clause 15.

Margin Review. For the purposes of determining the Margin in respect of all Tranches which is to apply during each Margin Period, the Agent Lender shall determine the Security Cover Percentage on each Margin Review Date by reference to valuations of all the Ships subject to a Mortgage Ship at that time which comply with the requirements of Clause 150. The applicable Margin in respect of the first Margin Period shall be determined by reference to the Initial Market Value of the Ship.