Application after. acceleration From and after the giving of notice to the Borrowers by the Agent under Clause 13.2 (Acceleration), the Borrowers shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either of the Earnings Accounts are immediately transferred to the Security Agent for application in accordance with Clause 10.11 (Application of moneys by Security Agent) and the Borrowers irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 2 contracts
Sources: Secured Loan Agreement (Baltic Trading LTD), Secured Loan Agreement (Baltic Trading LTD)
Application after. acceleration From and after the giving of notice to the Borrowers Borrower by the Agent under Clause 13.2 (Acceleration), the Borrowers Borrower shall procure by entering into the Account Control Agreements Agreement that all sums from time to time standing to the credit of either of the Earnings Accounts Account are immediately transferred to the Security Agent for application in accordance with Clause 10.11 (Application of moneys by Security Agent) and the Borrowers Borrower irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 2 contracts
Sources: Secured Loan Agreement (Baltic Trading LTD), Secured Loan Agreement (Baltic Trading LTD)
Application after. acceleration From and after the giving of notice to the Borrowers Borrower by the Agent under Clause 13.2 (Acceleration)13.2, the Borrowers Borrower shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either of the Earnings Accounts are immediately transferred to the Security Agent for application in accordance with Clause 10.11 (Application of moneys by Security Agent) 10.8 and the Borrowers Borrower irrevocably authorise authorises the Security Agent to instruct the Account Holder Holders to make those transfers.
Appears in 2 contracts
Sources: Senior Secured Revolving Credit Facility Agreement, Senior Secured Revolving Credit Facility Agreement (Teekay Offshore Partners L.P.)
Application after. acceleration From and after the giving of notice to the Borrowers Borrower by the Agent under Clause 13.2 23.2 (Acceleration), the Borrowers Borrower shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either of the Earnings Accounts Account are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.11 (Application of moneys by Security Agent) and the Borrowers Borrower irrevocably authorise authorises the Security Agent to instruct the Account Holder Bank to make those transfers.
Appears in 2 contracts
Sources: Loan Agreement (Scorpio Bulkers Inc.), Secured Loan Agreement (Scorpio Bulkers Inc.)
Application after. acceleration From and after the giving of notice to the Borrowers Borrower by the Agent under Clause 13.2 23.2 (Acceleration), the Borrowers Borrower shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either of the Earnings Accounts are immediately promptly transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.12 (Application of moneys by Security Agent) and the Borrowers Borrower irrevocably authorise authorises the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Application after. acceleration From and after the giving of notice to the Borrowers Borrower by the Agent under Clause 13.2 22.2 (Acceleration), the Borrowers Borrower shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either any of the Earnings Accounts are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.8 (Application of moneys by Security Agent) and the Borrowers Borrower irrevocably authorise authorises the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Application after. acceleration From and after the giving of notice to the Borrowers by the Agent under Clause 13.2 23.2 (Acceleration), the Borrowers shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either any of the Earnings Accounts are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 (17.14 Application of moneys by Security Agent) and the Borrowers irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Application after. acceleration From and after the giving of notice to the Borrowers by the Agent under Clause 13.2 (Acceleration), the Borrowers shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either of the Earnings Accounts are immediately transferred to the Security Agent for application in accordance with Clause 10.11 10.9 (Application of moneys by Security Agent) and the Borrowers irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Application after. acceleration From and after the giving of notice to the Borrowers by the Agent under Clause 13.2 23.2 (Acceleration), the Borrowers shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either any of the Earnings Accounts are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.14 (Application of moneys by Security Agent) and the Borrowers irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Application after. acceleration From and after the giving of notice to the Borrowers by the Agent under Clause 13.2 23.2 (Acceleration), the Borrowers and the Original Guarantor shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either of the Earnings Accounts any Account are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.10 (Application of moneys by Security Agent) and the Borrowers and the Original Guarantor irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Application after. acceleration From and after the giving of notice to the Borrowers Borrower by the Agent under Clause 13.2 (Acceleration), the Borrowers Borrower shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either of the Earnings Accounts are immediately transferred to the Security Agent for application in accordance with Clause 10.11 10.13 (Application General application of moneys by Security Agentafter acceleration) and the Borrowers Borrower irrevocably authorise authorises the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Sources: Secured Loan Agreement (Poseidon Containers Holdings Corp.)
Application after. acceleration From and after the giving of notice to the Borrowers by the Agent under Clause 13.2 23.2 (Acceleration), the Borrowers shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either of the Earnings Accounts Reserve Account are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.3 (Application of moneys by Security Agent) and the Borrowers irrevocably authorise the Security Agent to instruct the Account Holder Agent (as account holder) to make those transfers.
Appears in 1 contract
Sources: Secured Loan Agreement (TORM PLC)
Application after. acceleration From and after the giving of notice to the Borrowers by the Agent under Clause 13.2 22.1.22(a) (Acceleration), the Borrowers shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either of the Earnings Accounts are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.12 (Application of moneys by Security Agent) and the Borrowers irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Sources: Secured Loan Agreement (Genco Shipping & Trading LTD)
Application after. acceleration From and after the giving of notice to the Borrowers by the Agent under Clause 13.2 23.2 (Acceleration), the Borrowers and the Guarantor shall procure by entering into the Account Control Agreements that all sums from time to time standing to the credit of either of the Earnings Accounts any Account are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.10 (Application of moneys by Security Agent) and the Borrowers and the Guarantor irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Sources: Secured Loan Facility Agreement (Diana Containerships Inc.)