Value of additional vessel security. The net realisable value of any additional security which is provided under Clause 24.2 (Provision of additional security; prepayment) which constitutes a first preferred or first priority mortgage over a vessel shall be the Market Value of the vessel concerned.
Appears in 3 contracts
Samples: Facility Agreement (Euroseas Ltd.), Term Loan Facility (Okeanis Eco Tankers Corp.), Term Loan Facility (Navios Maritime Partners L.P.)
Value of additional vessel security. The net realisable value of any additional security which is provided under Clause 24.2 25.2 (Provision of additional security; prepayment) and which constitutes a first preferred or first priority mortgage consists of Security over a vessel shall be the Market Value of the vessel concerned.
Appears in 3 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Grindrod Shipping Holdings Pte. Ltd.), Term Loan Facility (Star Bulk Carriers Corp.)
Value of additional vessel security. The net realisable value of any additional security which is provided under Clause 24.2 29.2 (Provision of additional security; prepayment) and which constitutes a first preferred or first priority mortgage consists of Security over a vessel shall be the Fair Market Value of the vessel concerned.
Appears in 3 contracts
Samples: Loan Agreement (Ardmore Shipping Corp), Term and Accordion Facilities Agreement (Ardmore Shipping Corp), Term, Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp)
Value of additional vessel security. The net realisable value of any additional security which is provided under Clause 24.2 25.2 (Provision of additional security; prepayment) which constitutes a first preferred or first priority mortgage over a vessel shall be the Market Value of the vessel concerned.
Appears in 2 contracts
Samples: Term Loan Facility (Seanergy Maritime Holdings Corp.), Facility Agreement (Seanergy Maritime Holdings Corp.)
Value of additional vessel security. The net realisable value of any additional security which is provided under Clause 24.2 26.2 (Provision of additional security; prepayment) and which constitutes a first preferred or first priority mortgage consists of Security over a vessel shall be the Market Value of the vessel concerned.
Appears in 2 contracts
Samples: Facility Agreement (Okeanis Eco Tankers Corp.), Facility Agreement (Okeanis Eco Tankers Corp.)
Value of additional vessel security. The net realisable value of any additional security which is provided under Clause 24.2 27.2 (Provision of additional security; prepayment) and which constitutes a first preferred or first priority mortgage consists of Security over a vessel shall be the Fair Market Value of the vessel concerned.
Appears in 2 contracts
Samples: Term Loan Facility (Ardmore Shipping Corp), Term Loan Facility (Ardmore Shipping Corp)
Value of additional vessel security. The net realisable realizable value of any additional security which is provided under Clause 24.2 (Provision of additional security; prepayment) and which constitutes a first preferred or first priority mortgage consists of Security over a vessel shall be the Market Value of the vessel concerned.
Appears in 1 contract
Value of additional vessel security. The net realisable value of any additional security which is provided under Clause 24.2 25.2 (Provision of additional security; prepayment) and which constitutes a first preferred or first priority mortgage consists of Security over a vessel shall be the Fair Market Value of the vessel concerned.
Appears in 1 contract
Samples: Term Loan Facility Agreement (Castor Maritime Inc.)
Value of additional vessel security. The net realisable value of any additional security which is provided under Clause 24.2 (Provision of additional security; prepayment) and which constitutes a first preferred or first priority mortgage consists of Security over a vessel shall be the Ship Market Value of the vessel concerned.
Appears in 1 contract
Samples: Facility Agreement (Taylor Maritime Investments LTD)
