Required Security Ratio Sample Clauses
Required Security Ratio a) The ratio of Total Market Value to the Loans shall at all times be higher than the Required Security Ratio.
b) The Borrower shall, at its own expense, arrange for the Market Value of each Vessel to be determined semi-annually (or quarterly if requested by the Majority Lenders) 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 half year or quarterly accounting date (as the case may be).
Required Security Ratio. The Lenders consent to the security ratio as per 30 June, 2017 being 1.5 and not exceeding the required 1.5 ratio. During the Existing Waiver Period, then notwithstanding paragraph c) of Clause 22.4 (Required Security Ratio), the applicable Required Security Ratio shall be:
a) 1 3, from 1 July 2017 to and until 31 March 2018; and