Common use of Application of accounts Clause in Contracts

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks shall), without notice to the Borrowers, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the BorrowersBorrower, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Finance Parties or any of them under the Security Documents in the manner specified in clause 13.1Finance Documents.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the Borrowers, instruct the Account Bank to apply all moneys then standing to the credit of the Earnings Accounts or any of them and/or the Retention Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks shall), without notice to the Borrowers, instruct the Account Bank to apply all moneys then standing to the credit of any of the Accounts or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent and/or the Banks may (and on instruct the instructions of the Majority Banks shall)Account Bank, without notice to the BorrowersBorrower and/or the Owner, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them (together with interest from time to time accruing or accrued thereon) in payment to the Agent and the Agent shall apply the same in or towards satisfaction of any sums due to the Creditors or any of them Finance Parties under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the Borrowers, instruct the Earnings Account Bank to apply all moneys then standing to the credit of the Earnings Accounts or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks shallmust), without notice to the BorrowersBorrower, instruct the Account Bank to apply all moneys then standing to the credit of the Earnings Accounts and/or the Retention Account or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks shall), without notice to the Borrowers, instruct the Account Bank to apply all moneys then standing to the credit of the Operating Accounts or any either of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the BorrowersBorrower, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Finance Parties or any of them under the Security Documents in the manner specified in clause 13.1.Finance Documents. 55

Application of accounts. At any time after the occurrence of an Event of Default, the Payment Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the BorrowersBorrower, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them Earnings Account and/or the Retention Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of DefaultDefault which is continuing, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the BorrowersBorrower, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them Earnings Account and/or the Retention Account and/or the Drydock Reserve Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the BorrowersBorrower, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them Earnings Account and/or the Retention Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the BorrowersBorrower, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them Earnings Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the Borrowers, instruct the Account Bank Banks to apply all moneys then standing to the credit of the Earnings Accounts or any of them and/or the Retention Account and/or the Equity Deposit Accounts (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the BorrowersBorrower, instruct the Earnings Account Bank to apply all moneys then standing to the credit of the Accounts or any of them Earnings Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the Borrowers, instruct the Account Bank to apply all moneys then standing to the credit of the Earnings Accounts or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the Borrowers, instruct the relevant Earnings Account Bank to apply all moneys then standing to the credit of the Earnings Accounts or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the BorrowersBorrower or the Shareholder, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them Earnings Account and/or the Retention Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks shall), without notice to the Borrowers, instruct the Account Bank to apply all moneys then standing to the credit of the Operating Accounts or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without with notice to the BorrowersBorrower, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them Earnings Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent and/or the Banks may (and on instruct the instructions of the Majority Banks shall)Account Bank, without notice to the BorrowersBorrower or any Owner, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them (together with interest from time to time accruing or accrued thereon) in payment to the Agent and the Agent shall apply the same in or towards satisfaction of any sums due to the Creditors or any of them Finance Parties under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the Borrowers, instruct the Account Bank to apply all moneys then standing to the credit of the Earnings Accounts or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Creditor Parties or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the Borrowers, instruct the Account Bank to apply all moneys then standing to the credit of the Earnings Accounts or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Creditor Parties or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks Lenders shall), without notice to the Borrowers, instruct the Account Bank Banks to apply all moneys then standing to the credit of the Earnings Accounts or any of them and/or the Retention Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors Banks or any of them under the Security Documents in the manner specified in clause 13.1.

Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (may, and on the instructions of the Majority Banks shall), without with notice to the BorrowersBorrower, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts (or any either of them them) (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors or any of them under the Security Documents in the manner specified in clause 13.1.