Common use of Control Account Clause in Contracts

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 11 contracts

Samples: Loan Agreement (Teekay Tankers Ltd.), Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)

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Control Account. The Agent shall open and maintain on its books a control account in the name names of the Borrower Borrowers showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s Borrowers' obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 29.10 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 9 contracts

Samples: Fourth Supplemental Agreement (TORM PLC), Fourth Supplemental Agreement (TORM PLC), Loan Agreement (Diana Containerships Inc.)

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 17.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 5 contracts

Samples: Loan Agreement (DHT Holdings, Inc.), Loan Agreement (DHT Holdings, Inc.), Loan Agreement (Baltic Trading LTD)

Control Account. The Agent shall open and maintain on its books a control account in the name names of the Borrower Borrowers showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s Borrowers' obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 17.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 4 contracts

Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Baltic Trading LTD), Loan Agreement (Baltic Trading LTD)

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s 's obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 4 contracts

Samples: Loan Agreement (Teekay Shipping Corp), Loan Agreement, Loan Agreement (Energy Infrastructure Merger CORP)

Control Account. The Agent shall open and maintain on its books a control account in the name names of the Borrower Borrowers showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s Borrowers’ obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 17.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 3 contracts

Samples: Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (NewLead Holdings Ltd.), DryShips Inc.

Control Account. The Agent shall open and Agent, will maintain on its books a control account in showing the name amount of the Borrower showing the advance of the Loan Loans and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries accrued thereon from time to time and other charges in respect of the Loans and all payments in respect thereof made by the Borrower from time to time under this Agreement and shall enter promptly all relevant details relating thereto in the such control account. Such control account opened and maintained under this Clause 17.7 and those entries willshall, in the absence of manifest error, be conclusive as to the aggregate amount from time to time due from the Borrower to Eksportfinans in respect of the principal of, and bindinginterest on, the Loans and other charges in respect of the Loans.

Appears in 3 contracts

Samples: Senior Secured Credit Facility Agreement, Senior Secured Credit Facility Agreement (Seadrill Partners LLC), Senior Secured Credit Facility Agreement (Seadrill Partners LLC)

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower Borrowers showing the advance of the Loan Facility and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s Borrowers’ obligations to repay the Loan Facility and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 3 contracts

Samples: Facility Agreement (Teekay Corp), Facility Agreement (Teekay Corp), Facility Agreement (Teekay Tankers Ltd.)

Control Account. The Agent shall without further input required from the Borrowers open and maintain on its books a control account in the name of the Borrower Borrowers showing the advance of the Loan Facility and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s Borrowers’ obligations to repay the Loan Facility and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 by the Agent and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 3 contracts

Samples: Facility Agreement, Facility Agreement (Teekay LNG Partners L.P.), Facility Agreement (Teekay LNG Partners L.P.)

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 28.10 (Control account) and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 2 contracts

Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower Borrowers showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s Borrowers’ obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 2 contracts

Samples: Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement

Control Account. The Agent shall open and maintain on its books books- a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations 's obligation to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 28.10 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Amending and Restating Agreement (DHT Holdings, Inc.)

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s 's obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 29.10 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Scorpio Bulkers Inc.

Control Account. The Agent shall open and maintain on its books a control account in the name names of the Borrower Borrowers showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s Borrowers’ obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 19.6 and those entries will, in the absence of manifest error, be conclusive and binding.. 20 Notices

Appears in 1 contract

Samples: Loan Agreement (Danaos Corp)

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Control Account. The Agent shall open and maintain on its books a control account in the name names of the Borrower Borrowers showing the advance of the Loan each Drawing and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s Borrowers’ obligations to repay the Loan each Drawing and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 28.10 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Secured Loan Agreement (Genco Shipping & Trading LTD)

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan each Drawing and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan each Drawing and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 28.10 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Safe Bulkers, Inc.

Control Account. The Agent shall open and maintain on its books a control account in the name names of the Borrower Borrowers showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s Borrowers’ obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 29.10 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (DHT Holdings, Inc.)

Control Account. The Agent shall (without further input required from the Borrower) open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 by the Agent and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (Teekay Offshore Partners L.P.)

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower Borrowers showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s Borrowers' obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Teekay LNG Partners L.P.

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s 's obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 30.10 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Bulkers Inc.)

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 28.9 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Facility Agreement (HC2 Holdings, Inc.)

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s 's obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 and those entries will, in the absence of manifest error, be conclusive and binding.. 17.8

Appears in 1 contract

Samples: Teekay Corp

Control Account. The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s 's obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 28.10 (Control account) and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (Safe Bulkers, Inc.)

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