Average balance. As of the date falling 3 months after the second Delivery Date (or, if it is apparent that only one Vessel will be delivered by the Builder, the first Delivery Date), the Borrowers shall ensure that there is at all times credited to deposit accounts at the Bank in the names of either Borrower and/or the Corporate Guarantor and the Earnings Account and the Retention Account, an average balance of $3,000,000 per month.
Appears in 2 contracts
Sources: Facility Agreement, Facility Agreement (Navios Maritime Holdings Inc.)