Minimum security definition
Examples of Minimum security in a sentence
Valuations obtained (not more than 30 days before the first Utilisation Date) in accordance with clause 23 (Minimum security value) showing that the Security Value of the Ships will not be less than the Minimum Value upon the Utilisation Date.
Valuations obtained (not more than 30 days before the relevant Utilisation Date) in accordance with clause 23 (Minimum security value) showing that the Security Value of the Ships will be not less than the Minimum Value upon execution of the Security Documents specified in paragraph 2 (Security) of Part 3 of this Schedule.
Minimum security standards are subject to change at any time based on new threats and external security climate.
Minimum security measures shall include controlling access to data storage and production areas, secure destruction of data and documents and other reasonable security measures determined to be necessary at the sole discretion of the State.
Minimum security requirements include: physical access restrictions and safeguards; adequate separation of customer environments; fire suppression, detection, and prevention mechanisms; climate control systems.
Valuations obtained (not more than 3 months before the relevant Utilisation Date) in accordance with clause 25 (Minimum security value) showing the Borrower is in compliance with clauses 5.3.3.
In addition, the Borrower shall also be entitled to make a request for a release of security in respect of a Mortgaged Ship where it has made a prepayment under clause 7.4 (Voluntary prepayment of the Loan) for the purpose of removing that Mortgaged Ship from the financing arrangements contemplated by this Agreement provided that the Borrower shall be in compliance with its obligations under clause 25 (Minimum security value) following such release or discharge.
Minimum security measures shall include controlling access to data storage and production areas, secure destruction of data and documents and other reasonable security measures determined to be necessary at the sole discretion of the applicable State.
Valuations obtained (not more than 15 days before the first Utilisation Date) in accordance with clause 25 (Minimum security value) showing that the Security Value will be not less than 135 per cent of the Available Facility upon execution of the Security Documents specified in paragraph 2 (Security) of this Part 2 of this Schedule and the relevant Utilisation.
Valuations of the relevant Ship obtained (not more than six (6) weeks before the relevant Utilisation Date) in accordance with clause 24 (Minimum security value) evidencing compliance with clause 5.3 (Currency and amount) and clause 24 (Minimum security value) (including immediately after the relevant Utilisation).