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 (expressed as a percentage) which is determined at any time by comparing (i) the aggregate of the amounts referred to in paragraphs (a) and (b) of Clause 15.1 to (ii) the aggregate of the Loan and the Swap Exposure;
Security Cover Ratio means, at any relevant time, the aggregate of (i) the aggregate of the Market Value of the Mortgaged Ships but excluding any Mortgaged Ships of an Age equal to or older than 18 years and (ii) the net realisable value of any acceptable additional security provided at that time under Clause 15, at that time, expressed as a percentage of 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.
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.
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.
More Definitions of Security Cover Ratio
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;
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 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, 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;