Xxxx-to-Market Valuation. A Xxxx-to-Market Valuation shall be made upon the occurrence of each Xxxx-to-Market Event, and the Xxxx-to- Market Value of each Permitted Asset comprising part of the Partnership Property shall be determined in accordance with the following provisions, except that, unless otherwise expressly provided in this Section 4.09(b), the Xxxx-to-Market Value of any such Permitted Asset shall be made as of the applicable Measurement Date:
Xxxx-to-Market Valuation. The last sentence of Section 2.04 of the Note Purchase Agreement is hereby amended by adding the following proviso at the end of such sentence: provided, that beginning on the Settlement Date in March 2009, upon receipt of notice of any Borrowing Base Deficiency, the Trust shall pay down the Aggregate Note Balance in an amount necessary to fully remedy such Borrowing Base Deficiency.
Xxxx-to-Market Valuation. Lender shall calculate Market Value on a continuous basis based on the prevailing value of each Digital Asset on one or more Digital Asset exchanges, including those operated by Agent. Lender has the discretion to select Digital Asset exchanges for purposes of calculating Market Value that Lender, in its reasonable judgment, believes offer a fair representation of the value of a Digital Asset. • Maintenance of Margin; No Margin Calls. • Upon notice from Lender, you shall (a) deliver, or instruct Agent to deliver, additional Collateral Assets to the Margin Account (i) to satisfy the Maintenance Margin Percentage as required by Lender in this Agreement and (ii) secure your performance of any obligations due to Lender hereunder. • Notwithstanding Section 3.2.1, you agree that you will maintain the Maintenance Margin Requirements. In the event that your Collateral Assets fail to meet the Maintenance Margin Requirement, Lender has the sole discretion to liquidate any open positions in any Collateral Assets and Non-Collateral assets in your FTX US which, in its reasonable opinion, will result in the Net Collateral Equity in the Margin Account as a percentage of the value of the remaining Collateral Assets in your Margin Account equaling or exceeding the Initial Margin Percentage. • Lender is not required to provide notice or margin calls before liquidating Collateral Assets and Non-Collateral Assets in the FTX US Account. Lender will establish systems reasonably designed to send you notice if the value of your Net Collateral Equity in the Margin Account falls to the margin call threshold specified in your Margin Account. To avoid Lender’s liquidation of your Collateral Assets as set forth in Section 3.3.2 above, you acknowledge and agree that it is your sole responsibility to maintain the value of the Collateral Assets in the Margin Account to equal or exceed the Maintenance Margin Requirement at all times. • Security Interest and Control Agreement. • In order to secure and to provide for the repayment of any Margin Loans, you hereby assign, pledge, transfer and grant to Lender, as secured party, a continuing first priority perfected security interest in, and a lien upon, all of your right, title and interest in, to and under, whether now owned, or hereafter acquired, the Margin Account and any and all other accounts maintained by Agent or its affiliates, including as Digital Assets that constitute Collateral Assets and Non-Collateral Assets, all deposits of fia...
