Common use of Value of additional vessel security Clause in Contracts

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.

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.