Minimum Corporate Cover - Charter Attached Sample Clauses

Minimum Corporate Cover - Charter Attached. If at any time on a Quarter Date specified in column 1 below, the Market Value of all Fleet Vessels (plus the net realisable value of any Additional Security previously provided) when expressed as a percentage of total Consolidated Debt is less than the percentage specified in column 2 below, the Guarantor must within 14 Business Days of the delivery of a relevant Compliance Certificate: (a) provide, or ensure a third party provides, Additional Security to the Security Agent which is acceptable to all Lenders and which, in the opinion of all Lenders, has a net realisable value at least equal to the shortfall and which, if it consists of or includes a Security interest, covers such asset or assets and is documented in such terms as all Lenders approve, or require; or (b) prepay amounts outstanding under the Facility by an amount which would reduce the amounts outstanding under the Facility by the same proportion and by an aggregate amount which would have ensured compliance with this covenant had such amounts been prepaid on the relevant Quarter Date. Column 1 Column 2