Common use of Value of security Clause in Contracts

Value of security. Valuations for the relevant Ship obtained (not more than forty five (45) days before the relevant Utilisation Date) and prepared on a basis in accordance with clause 25 (Minimum security value).

Value of security. Valuations for all the relevant Ship Ships obtained (not more than forty five (45) days before the relevant first Utilisation Date) and prepared on a basis in accordance with clause 25 (Minimum security value).. Part 3 Ship and security conditions precedent

Value of security. Valuations for of the relevant Ship (issued not more than 30 days before the Utilisation Date) and obtained (not more than forty five (45) 10 days before the relevant Utilisation Date) and prepared on a basis in accordance with clause 25 23 (Minimum security value)) showing that the Security Value (relative to the Ship) will be not less than 120% of the aggregate of (a) the Loan and (b) the Swap Exposure upon execution of the Security Documents specified in paragraph 2 (Security) of this Part 2 of this Schedule, and upon the Utilisation being made.