Common use of Provision of additional security cover; prepayment of Loan Clause in Contracts

Provision of additional security cover; prepayment of Loan. Each Borrower undertakes with each Creditor Party that if the Agent (acting on the instructions of the Majority Lenders) notifies the Borrowers that: (a) the Market Value (determined as provided below) of a Ship; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140% of the aggregate of the Relevant Tranche and any Swap Exposure relating thereto, the Borrowers will, within 10 days after the date on which the Agent's notice is served, either: (i) provide, or ensure that a third party provides, additional security which, in the opinion of the Majority Lenders, has a net realisable value at least equal to the shortfall and which covers such asset or assets, and is documented in such terms, as the Agent may, with authorisation from the Majority Lenders, approve or require; or (ii) prepay in accordance with Clause 8 such part (at least) of the Relevant Tranche as will eliminate the shortfall.

Provision of additional security cover; prepayment of Loan. Each The Borrower undertakes with each Creditor Party the Lender that if at any time after the Agent (acting on Waiver Period the instructions of the Majority Lenders) Lender notifies the Borrowers Borrower that: (a) the aggregate Market Value of the Primary Ship and the Additional Ship (determined as provided below) of a Shipafter deducting the Relevant Amount); plus (b) the net realisable value of any additional security previously provided under this Clause 1514, is below 140% the Relevant Percentage of the aggregate of the Relevant Tranche and any Swap Exposure relating theretoLoan, the Borrowers Borrower will, within 10 14 days after the date on which the AgentLender's notice is served, either: (i) provide, or ensure that a third party provides, additional security which, in the opinion of the Majority LendersLender, has a net realisable value at least equal to the shortfall and which which, if it consists of or includes a Security Interest, covers such asset or assets, assets and is documented in such terms, terms as the Agent may, with authorisation from the Majority Lenders, Lender may approve or require; or (ii) prepay in accordance with Clause 8 7 such part (at least) of the Relevant Tranche Loan as will eliminate the shortfall.. In this Clause 14.1:

Provision of additional security cover; prepayment of Loan. Each The Borrower undertakes with each Creditor Party that that, if at any time the Agent (acting on the instructions of the Majority Lenders) notifies the Borrowers Borrower that: (a) the aggregate Market Value (determined as provided below) of the Ships subject to a ShipMortgage; plus (b) the net realisable value of any additional security previously provided under this Clause 15, is below 140% 125 per cent. of the aggregate of the Relevant Tranche Loan and any the Swap Exposure relating theretoExposure, the Borrowers Borrower will, within 10 days 14 Business Days after the date on which the Agent's ’s notice is served, either: (i) provide, or ensure that a third party provides, additional security acceptable to the Agent which, in the opinion of the Majority Lenders, has a net realisable value at least equal to the shortfall and which covers such asset consists of either (a) cash pledged to the Security Trustee or assets, and is the Lenders or (b) a mortgage over another vessel documented in such terms, terms as the Agent may, (with the authorisation from of the Majority Lenders, ) may approve or require; or (ii) prepay in accordance with Clause 8 such part (at least) of the Relevant Tranche Loan as will eliminate the shortfall.

Provision of additional security cover; prepayment of Loan. Each The Borrower undertakes with each Creditor Party that that, if the Agent (acting on the instructions of the Majority Lenders) notifies the Borrowers Borrower that: (a) the Market Value aggregate of the market values (determined as provided below) of a Shipthe Ships; plus (b) the net realisable value of any additional security (other than security over Liquid Assets) previously provided under this Clause 15, ; is below 140% 125 per cent. of the aggregate of the Relevant Tranche and any Swap Exposure relating theretoLoan, the Borrowers Borrower will, within 10 days 14 Business Days after the date on which the Agent's ’s notice is served, either: (i) provide, or ensure that a third party provides, additional security acceptable to the Lenders which, in the opinion of the Majority Lenders, has a net realisable value at least equal to the shortfall and which which, if it consists of or includes a Security Interest, covers such asset or assets, assets and is documented in such terms, terms as the Agent may, with authorisation from the Majority Lenders, approve or require; or (ii) prepay in accordance with Clause 8 such part (at least) of the Relevant Tranche Loan as will eliminate the shortfall.

Provision of additional security cover; prepayment of Loan. Each The Borrower undertakes with each Creditor Party that if the Agent (acting on the instructions of the Majority Lenders) notifies the Borrowers Borrower that: (a) the aggregate Market Value (determined as provided below) Values of a Shipthe Ships; plus (b) the net realisable value of any additional security previously provided under this Clause 15, ; is below 140% 125 per cent. of the aggregate of the Relevant Tranche Loan and any the Swap Exposure relating thereto(if any exists at the relevant time), the Borrowers Borrower will, within 10 14 days after the date on which the Agent's ’s notice is served, either: (i) provide, or ensure that a third party provides, additional security which, in the opinion of the Majority Lenders, has a net realisable value at least equal to the shortfall and which which, if it consists of or includes a Security Interest, covers such asset or assets, assets and is documented in such terms, terms as the Agent may, with authorisation from the Majority Lenders, approve or require; or (ii) prepay in accordance with Clause 8 such part (at least) of the Relevant Tranche Loan as will eliminate the shortfall.

Provision of additional security cover; prepayment of Loan. Each The Borrower undertakes with each Creditor Party that if the Agent (acting on the instructions of the Majority Lenders) notifies the Borrowers Borrower that: (a) the Market Value (determined as provided below) of a Ship"AURORA"; plus (b) the net realisable value of any additional security previously provided under this Clause 15, ; is below 140% an amount equal to 135 per cent. of the aggregate of (i) the Relevant Tranche Loan and (ii) any Swap Exposure relating theretoExposure, the Borrowers Borrower will, within 10 14 days after the date on which the Agent's notice is served, either: (i) provide, or ensure that a third party provides, additional security which, in the opinion of the Majority Lenders, has a net realisable value at least equal to the shortfall and which which, if it consists of or includes a Security Interest, covers such asset or assets, assets and is documented in such terms, terms as the Agent may, with authorisation from the Majority Lenders, approve or require; or (ii) prepay in accordance with Clause 8 such part (at least) of the Relevant Tranche Loan as will eliminate the shortfall.