Required Security Amount definition

Required Security Amount means the amount in USD (as certified by the Bank) which is at any relevant time 125% of the Loan;

Required Security Amount means the amount in USD (as certified by the Agent) which is at any relevant time the Relevant Percentage of the aggregate of the Delivered Tranches and any Swap Exposure where “Relevant Percentage” means:

Required Security Amount means the sum of [***]% of the [***] of [***] and [***]% of [***].

Examples of Required Security Amount in a sentence

• The balance, if any, of the Required Security Amount shall be secured by funds deposited pursuant to a trust agreement in form and substance, and with a third party trustee, in each case satisfactory to the Company in its sole discretion that meets the requirements of any applicable law, regulation, or regulatory authority, which shall be invested in accordance with the Investment Guidelines attached hereto as Exhibit A.

• The balance, if any, of the Required Security Amount shall be secured by funds deposited pursuant to a trust agreement in form and substance, and with a third party trustee, in each case satisfactory to the Company in its sole discretion that meets the requirements of any applicable law, regulation, or regulatory authority, which shall be invested in accordance with the Investment Guidelines attached hereto as Exhibit B.

• On the date of completion of the sale of a Mortgaged Vessel the Borrowers must prepay the Loan by an amount equal to the greatest of (i) the Relevant Tranche, (ii) the amount of the Loan on the date on which such prepayment is required to be made multiplied by the Prepayment Ratio and (iii) such amount as would be required to ensure that the Security Value after such prepayment exceeds the Required Security Amount.

• If at any time the actual amount of the letters of credit or other cash security delivered by the Shipper exceeds the Required Security Amount, then FortisBC Energy will return and release to the Shipper the excess amount of such letters of credit or other cash security.

• Shipper will maintain, amend or supplement the Security as required from time to time to ensure that the aggregate amount of the Security is not less than the Required Security Amount.

More Definitions of Required Security Amount

Required Security Amount means the amount in USD (as certified by the Bank) which is at any relevant time (i) for five years following the Delivery Date, 115% of the Loan and (ii) thereafter 125% of the Loan;

Required Security Amount means, in relation to each new Additional Security Table provided in accordance with paragraph 9 of the Financial Schedule, the amount shown in column (6) of that new Additional Security Table and, where additional security is required to be provided pursuant to clause 25.2 by reference to such amount, ignoring for this purpose the fact that such amount is shown as a negative figure for the purpose of that new Additional Security Table;

Required Security Amount means the amount in USD (as certified by the Agent) which is at any relevant time (i) up to the date falling two (2) years after the second Delivery Date, 100% of the Loan and (ii) thereafter, 120% of the Loan;

Required Security Amount means the amount in USD (as certified by the Lender) which is, until the first anniversary of the Drawdown Date, one hundred and ten per cent (110%) and, at all time thereafter, one hundred and twenty per cent (120%), of the Loan;

Required Security Amount means the amount in USD (as certified by the Agent) which is at any relevant time one hundred and twenty five per cent (125%) of the Aggregate Loan Amount;

Required Security Amount and replacing it with:

Required Security Amount means the amount in USD (as certified by the Agent) which is at any relevant time (A) for any month after the Projected Quarterly Outgoings exceed the Projected Quarterly Income, two hundred per cent (200%) of the aggregate of the Loan and any Swap Exposure and (B) at all other times (i) up to 31 March 2012, one hundred and forty three per cent (143%), (ii) thereafter up to 31 March 2013, one hundred and fifty four per cent (154%) and (iii) thereafter, one hundred and sixty seven per cent (167%) of, in each case, the aggregate of the Loan and any Swap Exposure;