Minimum Total Market Value Clause Samples
Minimum Total Market Value a) The Total Market Value shall at all times be higher than one hundred and thirty-five per cent (135%) of the Loans outstanding under this Agreement.
b) The Obligors shall, at their own expense, arrange for the Market Value of each Vessel to be determined quarterly and include the amount of such Market Value in the relevant Compliance Certificate – Total Market Value, to be delivered no later than ten (10) Business Days after the end of each quarterly accounting date.
Minimum Total Market Value. If the Total Market Value at any time falls below one hundred and fifty per cent (150%) of the outstanding Loans hereunder, the Borrower shall, unless otherwise agreed with the Agent (on behalf of the Lenders), within fifteen (15) Business Days of receipt of written demand by the Agent, either:
a) prepay the Facility with an amount; or
b) provide the Lenders with such additional security, in form and substance satisfactory to the Security Agent (on behalf of the Lenders and the Swap Banks), required to restore the aforesaid ratio.