Valuation of additional security. For the purpose of this Clause 8.5, the market value of any additional security provided or to be provided to the Lender shall be determined by the Lender in its absolute discretion without any necessity for the Lender assigning any reason thereto and if such security consists of a vessel shall be that shown by a valuation complying with the requirements of Clause 8.5(b) (
Appears in 7 contracts
Samples: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Performance Shipping Inc.), Loan Agreement (Seanergy Maritime Holdings Corp.)
Valuation of additional security. For the purpose purposes of this Clause 8.5clause 8.2, the market value of any additional security provided or to be provided to the Lender shall be determined by the Lender in its absolute discretion without any necessity for the Lender assigning any reason thereto and if such security consists of a vessel shall be that shown by a valuation complying with the requirements of Clause 8.5(b) (discretion.
Appears in 1 contract
Samples: Agreement (NewLead Holdings Ltd.)
