Minimum Market Value. Upon a non-compliance of Clause 26.1 (Minimum Market Value), the Facility shall be repaid or reduced (as applicable) in accordance with Clause 10.6 (Terms and conditions for prepayments/reductions and cancellation) on the date falling 60 days after such breach by an amount equal to the amount which is required for the Borrower to become compliant with Clause 26.1 (Minimum Market Value) again.
Appears in 4 contracts
Samples: Senior Secured Credit Facility Agreement, Senior Secured Credit Facility Agreement, Senior Secured Credit Facility Agreement (Seadrill Partners LLC)
Minimum Market Value. Upon a non-compliance of Clause 26.1 10.1 (Minimum Market Value)) of the Common Terms Agreement, the Facility shall be repaid or reduced (as applicable) in accordance with Clause 10.6 8.7 (Terms and conditions for mandatory prepayments/reductions and cancellation) on the date falling 60 days after such breach by an amount equal to the amount which is required for the Borrower to become compliant with Clause 26.1 5.1 (Minimum Market Value) of the Common Terms Agreement again.
Appears in 4 contracts
Samples: Senior Secured Term Loan Facility Agreement, Senior Secured Term Loan Facility Agreement, Senior Secured Term Loan Facility Agreement (Seadrill Partners LLC)
Minimum Market Value. Upon a non-compliance of Clause 26.1 10.1 (Minimum Market Value)) of the Common Terms Agreement, the Facility shall be repaid or reduced (as applicable) in accordance with Clause 10.6 8.6 (Terms and conditions for prepayments/reductions and cancellation) on the date falling 60 days after such breach by an amount equal to the amount which is required for the Borrower to become compliant with Clause 26.1 5.1 (Minimum Market Value) of the Common Terms Agreement again.
Appears in 2 contracts
Samples: Senior Secured Term Loan and Revolving Credit Facility Agreement, Senior Secured Term Loan and Revolving Credit Facility Agreement (Seadrill Partners LLC)
Minimum Market Value. Upon a non-compliance of Clause 26.1 clause 24.1 (Minimum Market Value), the Facility shall be repaid or reduced (as applicable) in accordance with Clause 10.6 clause 8.5 (Terms and conditions for prepayments/reductions and cancellation) on the date falling 60 days after such breach by an amount equal to the amount which is required for the Borrower Borrowers to become compliant with Clause 26.1 clause 24.1 (Minimum Market Value) again.
Appears in 2 contracts
Samples: Secured Credit Facility Agreement, Secured Credit Facility Agreement (Seadrill Partners LLC)
Minimum Market Value. Upon a non-compliance of with Clause 26.1 24.1 (Minimum Market Value), the Facility shall be repaid or reduced (as applicable) in accordance with Clause 10.6 8.10 (Terms and conditions for prepayments/reductions mandatory prepayments and cancellation) on the date falling 60 days after such breach by an amount equal to the amount which is required for the Borrower to become compliant with Clause 26.1 24.1 (Minimum Market Value) again.
Appears in 1 contract
Samples: Senior Secured Credit Facility Agreement (Seadrill Partners LLC)
Minimum Market Value. Upon a non-compliance of Clause 26.1 24.1 (Minimum Market Value), the Facility shall be repaid or reduced (as applicable) in accordance with Clause 10.6 8.5 (Terms and conditions for prepayments/reductions and cancellation) on the date falling 60 days after such breach by an amount equal to the amount which is required for the Borrower to become compliant with Clause 26.1 24.1 (Minimum Market Value) again.
Appears in 1 contract
Samples: Senior Secured Credit Facility Agreement (North Atlantic Drilling Ltd.)
