Security Value Maintenance Sample Clauses

Security Value Maintenance ensure that at all times the Security Value is not less than the Security Requirement; and
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Security Value Maintenance. (a) If at any time the Security Value shall be less than the Security Requirement, the Agent may give notice to the Borrower requiring that such deficiency be remedied and then the Borrower shall either: (i) prepay within a period of fourteen (14) days of the date of receipt by the Borrower of the Agent's said notice, such part of the total amount of the Facility A Loan, the Facility C Loans and the Facility D Loans outstanding at such time, as will result in the Security Requirement after such prepayment (taking into account any other repayment of the Loans made between the date of the notice and the date of such prepayment) being equal to or higher than the Security Value; or (ii) within fourteen (14) days of the date of receipt by the Borrower of the Agent's said notice, constitute to the satisfaction of the Agent (acting on the instructions of the Majority Lenders) such further security (in the form of Security) for the Loans (and any amounts outstanding under any Hedge Agreements) as shall be acceptable to Agent (acting on the instructions of the Majority Lenders) having a value for security purposes (as determined by the Majority Lenders in their absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the Security Requirement as at such date. (b) Each of the Collateral Ships shall, for the purposes of this clause 23.53, be valued as and when the Agent shall require and, as to the manner of valuation, in accordance with the provisions of clause 23.37(Valuation of Owned Ships). The value of any of the Collateral Ships determined in accordance with the provisions of clause 23.37(Valuation of Owned Ships) shall be binding upon the Parties until such time as any further such valuation shall be obtained for such Collateral Ship pursuant to this clause 23.53(b) or clause 23.37(Valuation of Owned Ships). (c) All costs in connection with the Agent obtaining any valuation of any of the Collateral Ships referred to in this clause 23.53 and in Schedule 3, and any valuation either of any additional security for the purposes of ascertaining the Security Value at any time or necessitated by the Borrower electing to constitute additional security pursuant to clause 23.53(a)(ii), shall be borne by the Borrower. (d) For the purposes of this clause 23.53, the value of any additional security provided or to be provided to the Agent shall be determined by the Majority Lenders i...
Sample 1
Security Value Maintenance. (a) Security shortfall If at any time on or after the Delivery Date for the first of the Vessels to be delivered, the Security Value shall be less than the applicable Security Requirement, the Agent may, and if so directed by the Lenders, give notice to the Borrowers requiring that such deficiency be remedied and then the Borrowers shall either: (i) prepay within a period of thirty (30) days of the date of receipt by the Borrowers of the Agent's said notice such sum in Dollars as will result in the applicable Security Requirement after such prepayment (taking into account any other repayment of the Loan made between the date of the notice and the date of such prepayment) being equal to the Security Value; or (ii) within fifteen (15) days of the date of receipt by the Borrowers of the Agent's said notice constitute to the satisfaction of the Agent such further security for the Loan as shall be acceptable to the Agent (acting on the instructions of the Majority Lenders) having a value for security purposes (as determined by the Agent (acting on the instructions of the Majority Lenders) in its absolute discretion) at the date upon which such further security shall be constituted which, when added to the Security Value, shall not be less than the applicable Security Requirement as at such date. Such additional security shall be constituted by;
Sample 1
Security Value Maintenance. The Borrower undertakes with each of the Finance Parties that, from the date falling 30 months after the Drawdown Date and throughout the remainder of the Security Period thereafter, it shall ensure that the Security Value is not less than the Security Requirement.
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Security Value Maintenance 
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Related to Security Value Maintenance

  • Vehicle Maintenance 16.1 You must report to thl as soon as possible, where the oil is above or below the recommended level or the warning indication light is illuminated. 16.2 You must add water/coolant to the cooling system and an appropriate Australian Society of Automotive Engineers rated oil for petrol or diesel powered vehicles (as applicable) to the engine if the indicator level is below minimum. 16.3 You agree to maintain the Vehicle in these conditions and acknowledge that any mechanical damage occasioned as a result of Your failure to maintain the Vehicle in accordance with this clause must be paid by You.

  • Routine Maintenance (i) CRC shall be responsible for Routine Maintenance when necessary or desirable to maintain the Shared Assets in a safe operating condition, and to permit and facilitate (A) the performance by CRC of its obligations pursuant to this Agreement, and (B) the use of Shared Assets by the Operators in accordance with this Agreement. (ii) CSXT or NSR, directly or through their respective affiliates, may perform the work which CRC performed prior to the date of this Agreement when (A) CRC does not possess the skills needed for such work, (B) CRC lacks the necessary employees to do such work in a timely fashion, or (C) CRC does not possess the equipment needed to do such work. CRC and the party performing the work shall agree to a reasonable fee for such work prior to performance. CRC, CSXT and NSR may agree to have additional work performed either by CSXT, NSR or their affiliates.

  • Account Maintenance Trade Allocations Trade Reporting; (Futures) Daily Trade Checkout Daily Statement Reconciliation

  • Software Maintenance Subrecipient shall apply security patches and upgrades in a timely manner and keep virus software up-to-date on all systems on which State data may be stored or accessed.

  • Property Maintenance Maintain all of its property that is necessary to or useful in the proper conduct of its business in good working condition, ordinary wear and tear excepted.

  • INTERIM MAINTENANCE PERIOD During the interim maintenance period between obtaining of the completion certificate of such Project and formation and operationalization of the Association the Promoter shall through itself or through a facility management company to run, operate, manage and maintain the Common Areas. The Promoter shall endeavour that the committee responsible for the maintenance and operation of the Common Areas will be required to provide manpower for maintaining the Common Areas, wherever required, and to collect maintenance charges and also guest charges and the user charges for the utilities being provided on “pay by use” basis, if any. The maintenance and management of Common Areas by the committee will primarily include but not limited to maintenance of water works, common electrical installations, DG Sets, landscaping, driveways, parking areas, lobbies, lifts and staircases, AMC’s etc. It will also include safety and security of the Project such as fire detection and protection and management of general security control of the Project. The Rules/ Bye Laws to regulate the use and maintenance of the Common Areas shall during the interim maintenance period shall be framed by the Promoter with such restrictions as may be necessary for proper maintenance and all the Allottees are bound to follow the same. After the Common Areas of the Project are handed over to the Association, the Association may adopt the Rules and the Bye laws framed by the Promoter, with or without amendments, as may be deemed necessary by the Association.

  • REPAIRS; MAINTENANCE The Owner hereby gives power to the Agent to supervise repairs, improvements, alterations, and decorations to the Property as well as purchase and pay bills for services and supplies. The Agent shall obtain prior approval of the Owner for all expenditures over $ for any single item. Prior approval for lesser amounts shall not be required for monthly or recurring operating charges or if emergency expenditures over the maximum are, in the Agent’s opinion, needed to protect the Property from damage, prevent injury to persons, avoid suspension of necessary services, avoid penalties or fines, or suspension of services to tenants required by a lease or rental agreement or by law, including, but not limited to, maintaining the Property in a condition fit for human habitation as required by applicable law.

  • Equipment Maintenance If this Contract involves computer or telecommunications hardware or other mechanical or electrical Equipment maintenance (use of the word "Equipment" means all the foregoing) as a Deliverable, then, during the warranty period and during any period covered by annual maintenance, the Contractor will provide Equipment maintenance to keep the Equipment in or restore the Equipment to good working order. This maintenance will include preventative and remedial maintenance, installation of safety changes, and installation of engineering changes based upon the specific needs of the individual item of Equipment. This maintenance will also include the repair, replacement, or exchange deemed necessary to keep the Equipment in good working order. For purposes of this Contract, Equipment restored to good working condition means Equipment that performs in accordance with the manufacturer's published specifications. The Contractor will exert its best efforts to perform all fault isolation and problem determination attributed to the Equipment covered under this Contract. The following services are outside the scope of this Contract: 1. Repair and replacement work or increase in maintenance time as a result of damage or loss resulting from accident, casualty, neglect, misuse, or abuse if such is the State's fault (and beyond normal wear and tear), damage resulting from improper packing or failure to follow prescribed shipping instruction (If such is done by the State), failure of electrical power, air conditioning or humidity control, use of supplies not approved by the original manufacturer of the Equipment as describe or included in the Contractor's proposal, or causes other than ordinary use of Equipment. 2. All information necessary for the State to perform the maintenance, including but not limited to logic diagrams, maintenance manuals and system and unit schematics with all changes noted. 3. A listing of spare parts and their recommended replacement schedule that will enable the State to create a centralized inventory of spare parts.

  • Common Area Maintenance Landlord will maintain or cause to be maintained the Common Areas and Tenant will reimburse Landlord for Tenant’s prorata share of the cost of such maintenance as hereinafter provided. (a) Common area maintenance costs and expenses shall be determined in accordance with generally accepted accounting principles consistently applied and allocated to any particular calendar year on the accrual method of accounting. Such costs and expenses shall include, but shall not be limited to upkeep, exterior painting, repairs, replacements and improvements in the Common Areas, snow removal, sweeping and cleanup, depreciation allowance on any machinery and equipment owned by Landlord and used in connection therewith, utility services including fire line water service charges, premiums for public liability, property damage and fire insurance including the Common Areas, any real estate tax and/or tax consultant expense incurred for the purpose of maintaining equitable tax assessments on the Development, all property taxes or assessments levied or assessed against all Common Areas, which, if not separately assessed, shall be determined, for land, by the ratio of land area designated for Common Area use to the total land area in the Development and, for improvements, on a fair and equitable allocation among the various improvements in the Development, giving weight to the factors which determine the amount of the real property tax or assessment in question. In addition, such costs shall include administrative costs equal to ten percent (10%) of the total cost paid or incurred by Landlord under this paragraph. (b) Tenant shall pay as additional rent to Landlord, Tenant’s prorata share of such Common Area expenses in the following manner: (1) From and after the date the minimum rental provided for herein has commenced, but subject to adjustment as hereinafter in this subparagraph (1) provided, Tenant shall pay Landlord in advance on the first day of each calendar month during the term of this Lease an estimated and adjustable amount covering Tenant’s proportionate share of common area services and expenses, which amount may be adjusted by Landlord by notice to Tenant at the end of any calendar month on the basis of Landlord’s experience and reasonably anticipated costs. (See Lease Rider “A” Building Expenses attached hereto and incorporated herein.) (2) Within thirty (30) days following the end of each calendar year, Landlord shall furnish Tenant a statement covering the calendar year just expired, showing the total operating costs, the amount of Tenant’s prorata share of such Common Area expenses for such calendar year and the payments made by Tenant with respect to such calendar year as set forth in subparagraph (b) I. If Tenant’s prorata share of such Common Area expenses exceeds Tenant’s payments so made, Tenant shall pay Landlord the deficiency within ten (10) days after receipt of such statement. If said payments exceed Tenant’s prorata share of such Common Area expenses, Tenant shall be entitled to offset the excess against payments next thereafter to become due Landlord as set forth in said subparagraph (b) I. Tenant’s pro-rata share of the total Common Area expenses for the previous calendar year shall be that portion of all such expenses which is equal to the proportion which the number of square feet of gross leasable area in the Demised Premises bears to the total number of square feet of gross leasable area of buildings in the entire Development which are from time to time completed and occupied as of the commencement of each calendar year.

  • Maintenance, Etc The Company will maintain, preserve and keep, and will cause each Consolidated Subsidiary to maintain, preserve and keep, its properties which are used in the conduct of its business (whether owned in fee or a leasehold interest) in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements and renewals as the Company may determine to be appropriate to the conduct of its business.

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