Application of Earnings. Each Shipowner undertakes with the Lenders that money from time to time credited to, or for the time being standing to the credit of, the Earnings Account shall, unless and until an Event of Default or Potential Event of Default shall have occurred (whereupon the provisions of Clause 16.1 shall be and become applicable), be available for application in the following manner:
Appears in 3 contracts
Samples: Loan Agreement (StealthGas Inc.), Agreement (StealthGas Inc.), StealthGas Inc.