Security shortfall. If, at any time after the first Drawdown Date, the Security Value shall be less than the Required Security Amount, the Agent (acting on the instructions of the Majority Lenders) shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower must either:
Appears in 5 contracts
Samples: Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Holdings Inc.), Private and Confidential (Navios Maritime Holdings Inc.)
Security shortfall. If, at any time after the first Drawdown Date, the Security Value shall be less than the Required Security Amount, the Agent (acting on the instructions of the Majority Lenders) shall give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers must either:
Appears in 4 contracts
Samples: Agreement (Navios Maritime Acquisition CORP), Navios Maritime Acquisition CORP, Agreement (Navios Maritime Holdings Inc.)
Security shortfall. If, at any time after the first Drawdown Date, the Security Value shall be less than the Required Security Amount, the Agent (acting on the instructions of the Majority Lenders) shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower must either:
Appears in 4 contracts
Samples: Agreement, Facility Agreement (Pyxis Tankers Inc.), Agreement (Navios Maritime Partners L.P.)
Security shortfall. If, at any time after the first Drawdown Date, the Security Value shall be less than the Required Security Amount, the Agent (acting on the instructions of the Majority Lenders) Lender shall give notice to the Borrower requiring that such deficiency be remedied and then the Borrower must either:
Appears in 3 contracts
Samples: Agreement (Box Ships Inc.), Agreement (StealthGas Inc.), Agreement (StealthGas Inc.)
Security shortfall. If, If at any time on or after the first Drawdown Date, Date the Security Value shall be less than the Required relevant Security AmountRequirement, the Agent (acting on the instructions of the Majority Lenders) shall may give notice to the Borrower requiring that such deficiency be remedied and then the Borrower must shall (unless a Ship has become a Total Loss) either:
Appears in 3 contracts
Samples: Facilities Agreement (Aries Maritime Transport LTD), Facilities Agreement (Omega Navigation Enterprises, Inc.), Agreement (Aries Maritime Transport LTD)
Security shortfall. If, at any time after the first Drawdown Date, the Security Value shall be less than the Required Security Amount, the Agent (acting on the instructions of the Majority Lenders) shall give written notice to the Borrower requiring that such deficiency be remedied and then the Borrower must either:
Appears in 2 contracts
Samples: EuroDry Ltd., Euroseas Ltd.
Security shortfall. If, at any time after the first Drawdown Date, the Security Value shall be less than the Required Security Amount, the Agent (acting on the instructions of the Majority Lenders) shall give notice to the Borrower Borrowers requiring that such deficiency be remedied and then the Borrower Borrowers must either:
Appears in 1 contract
