Common use of Charging of accounts Clause in Contracts

Charging of accounts. The Earnings Account and all amounts from time to time standing to the credit thereof shall be subject to the security constituted and the rights conferred by the Earnings Account Pledge and the Borrower undertakes to take all such steps, and give all such instructions to the Account Bank to enable the Agent and/or the Security Trustee to have full unconditional access to the Earnings Account following the occurrence of an Event of Default which is continuing.

Appears in 1 contract

Samples: Facility Agreement (Pyxis Tankers Inc.)

AutoNDA by SimpleDocs

Charging of accounts. The Earnings Account Accounts and all amounts from time to time standing to the credit thereof shall be subject to the security constituted and the rights conferred by the Earnings Account Pledge Pledges respectively and the Borrower undertakes Borrowers undertake to take all such steps, and give all such instructions to the Earnings Account Bank Banks to enable the Agent and/or the Security Trustee to have full unconditional access to the Earnings Account following the occurrence of an Event of Default which is continuing.have:

Appears in 1 contract

Samples: Navios Maritime Holdings Inc.

Charging of accounts. The Earnings Account and all amounts from time to time standing to the credit thereof shall be subject to the security constituted and the rights conferred by the Earnings Account Pledge respectively and the Borrower undertakes undertake to take all such steps, and give all such instructions to the Earnings Account Bank to enable the Agent and/or the Security Trustee to have full unconditional access to the Earnings Account following the occurrence of an Event of Default which is continuing.have:

Appears in 1 contract

Samples: Agreement (Navios Maritime Holdings Inc.)

AutoNDA by SimpleDocs

Charging of accounts. The Earnings Account and the Retention Account and all amounts from time to time standing to the credit thereof shall be subject to the security constituted and the rights conferred by the Earnings Account Pledge and the Retention Account Pledge respectively and the Borrower undertakes to take all such steps, and give all such instructions to the Account Bank to enable the Agent and/or the Security Trustee to have full unconditional access to the Earnings Account following the occurrence of an Event of Default which is continuing.have:

Appears in 1 contract

Samples: Navios Maritime Acquisition CORP

Time is Money Join Law Insider Premium to draft better contracts faster.