Security Cover Ratio means, at any relevant time, the aggregate of (i) the aggregate of the Market Value of the Mortgaged Ships and (ii) the net realisable value of any additional security provided at that time under Clause 15, at that time expressed as a percentage of the Loan;
Security Cover Ratio means the ratio which is determined, at any time, by comparing the aggregate of the amounts referred to in paragraphs (a) and (b) of Clause 15.1 against the Loan at the relevant time;
Security Cover Ratio means the ratio which is determined at any time by comparing the aggregate Market Value of the Ships subject to a Mortgage at the relevant time against the Loan;
Examples of Security Cover Ratio in a sentence
Clause 15.2 applies if the Agent notifies the Borrower that the Security Cover Ratio is below 125 per cent.
Clause 15.2 applies if the Agent notifies the Borrowers that the Security Cover Ratio is below 125 per cent.
Clause 15.2 (Provision of additional security; prepayment) applies if the Agent notifies the Borrowers that the Security Cover Ratio is below 125 per cent.
Clause 15.2 applies if the Agent notifies the Borrowers that the Security Cover Ratio is below 120 per cent.
For the purposes of calculating the Security Cover Ratio pursuant to this Clause 4.12, the Market Value of the Ship shall be determined no more than 14 days prior to the relevant Review Date.
More Definitions of Security Cover Ratio
Security Cover Ratio means, at any relevant time, the aggregate of:
Security Cover Ratio means, at any relevant time, the aggregate of (i) the Market Value of the Ship and (ii) the net realisable value of any additional security provided at that time under Clause 15, at that time expressed as a percentage of the Loan;
Security Cover Ratio means, at any relevant time, the aggregate of the Security Value expressed as a percentage of the outstanding principal amount of the Loan at the relevant time;
Security Cover Ratio means, on any day, the ratio between:
1.2.79.1. the Security Value; and
1.2.79.2. the aggregate of the Facility Outstandings;
Security Cover Ratio means, at any relevant time, the aggregate of the items referred to in paragraphs (a) – (d) (inclusive) of Clause 15.1 expressed as a percentage of the Loan;
Security Cover Ratio means at any time, the ratio of:
Security Cover Ratio means, at any relevant time, the aggregate of (i) the aggregate of the Market Value of the Mortgaged Borrower Ships (determined in accordance with Clause 15.3), (ii) the net realisable value of any additional security provided at that time under Clause 15 and (not including, for the avoidance of doubt, any Collateral Security), (iii) the aggregate of the Minimum Liquidity Amount maintained in the Earnings Accounts of all Mortgaged the Borrower Ships in accordance with Clause 11.18 at the relevant time and (iv) the aggregate of the Cash Collateral Amount at the relevant time, at that time expressed as a percentage of the aggregate amount of (i) the Loan and (ii) the Swap Exposure;