Security shortfall - Additional Security. If at any time during the Security Period, the Security Value shall be less than the Security Requirement, the Lender may give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall (unless the sole cause of such deficiency is the Total Loss of the Vessel and the Borrower in full compliance with its obligations in relation to such Total Loss) either:
Appears in 2 contracts
Samples: Loan Agreement (Performance Shipping Inc.), Performance Shipping Inc.
Security shortfall - Additional Security. If at any time during the Security Period, the Security Value shall be less than the Security Requirement, the Lender may give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall (unless the sole cause of such deficiency is the Total Loss of the Vessel and the Borrower is in full compliance with its obligations in relation to such Total Loss) either:
Appears in 2 contracts
Samples: Loan Agreement (Seanergy Maritime Holdings Corp.), Agreement (Pangaea Logistics Solutions Ltd.)
Security shortfall - Additional Security. If at any time during the Security Period, the Security Value shall be less than the Security Requirement, the Lender may give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall (unless the sole cause of such deficiency is the Total Loss of the a Vessel and the Borrower is in full compliance with its his obligations in relation to such Total Loss) either:;
Appears in 1 contract
Samples: Seanergy Maritime Holdings Corp.
Security shortfall - Additional Security. If at any time during the Security Period, the Security Value shall be less than the Security Requirement, the Lender may give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall (unless the sole cause of such deficiency is the Total Loss of the Vessel and the Borrower is in full compliance with its his obligations in relation to such Total Loss) either:;
Appears in 1 contract
Samples: Loan Agreement (Pyxis Tankers Inc.)
Security shortfall - Additional Security. If at any time during the Security Period, the Security Value shall be less than the Security Requirement, the Lender may give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers shall (unless the sole cause of such deficiency is the Total Loss of the relevant Vessel and the Borrower Owner thereof in full compliance with its obligations in relation to such Total Loss) either:
Appears in 1 contract
Samples: Agreement (Imperial Petroleum Inc./Marshall Islands)
