Extract to table

If the aggregate appraised value of the Mortgaged Vessels falls below 140% of outstanding Facility obligations (the "Minimum Collateral Coverage Ratio"), the Borrower must prepay outstanding obligations or provide additional collateral within thirty (30) days of notice from the Administrative Agent

If the Borrower has entered into a binding contract or letter of intent for such reinvestment before the expiration of the initial 365-day period but has not yet completed the reinvestment, the reinvestment period shall be automatically extended by an additional one hundred eighty (180) days

Any net proceeds not actually reinvested within the applicable reinvestment period shall be applied to prepay the revolving facility in accordance with the mandatory prepayment mechanics set forth in Section 2

The Borrower proposes a general basket permitting restricted payments in an aggregate amount not to exceed $15,000,000 per fiscal year, subject to satisfaction of the following conditions at the time of, and after giving pro forma effect to, each such payment: (i) no Event of Default shall exist or would result from the making of such payment; and (ii) after giving pro forma effect to such payment, the Borrower shall be in compliance with all financial covenants set forth in Section 7

This unlimited capacity shall be subject to the Borrower's compliance, after giving pro forma effect to the proposed payment, with the minimum liquidity covenant of $30,000,000