Value of additional vessel security. The net realizable value of any additional Collateral which is provided under Clause 15.3 and which consists of a Security Interest over a vessel shall be that shown by a valuation complying with the definition of Fair Market Value.
Appears in 16 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Credit Agreement (Scorpio Bulkers Inc.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Value of additional vessel security. The net realizable value of any additional Collateral which is provided under Clause 15.3 15.4 and which consists of a Security Interest over a vessel shall be that shown by a valuation complying with the definition of Fair Market Value.
Appears in 2 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
