Common use of Control Account Clause in Contracts

Control Account. The Lender 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 and the Master Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement and the Master Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 6 contracts

Samples: Agreement (Safe Bulkers, Inc.), Credit Facility Agreement (Safe Bulkers, Inc.), Loan Agreement (DryShips Inc.)

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Control Account. The Lender 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 and the Master Agreement. The Borrower’s 's obligations to repay the Loan and to pay interest and all other sums due under this Agreement and the Master Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Control Account. The Lender 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 and the Master Agreement. The Borrower’s Borrowers' obligations to repay the Loan and to pay interest and all other sums due under this Agreement and the Master Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.6 26.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Control Account. The Lender 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 and the Master Agreement. The Borrower’s Borrowers’ obligations to repay the Loan and to pay interest and all other sums due under this Agreement and the Master Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.6 26.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Euroseas Ltd.

Control Account. The Lender 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 and the Master Agreement. The Borrower’s 's obligations to repay the Loan and to pay interest and all other sums due under this Agreement and the Master Agreement Agreement, shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.6 16.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (Top Ships Inc.)

Control Account. The Lender 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 and the Master Agreement. The Borrower’s Borrowers' obligations to repay the Loan and to pay interest and all other sums due under this Agreement and the Master Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.6 16.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

Control Account. The Lender 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 and the Master Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement and the Master Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.6 26.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: EuroDry Ltd.

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Control Account. The Lender 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 and the Master Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement and the Master Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (Safe Bulkers, Inc.)

Control Account. The Lender 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 and the Master Agreement. The Borrower’s 's obligations to repay the Loan and to pay interest and all other sums due under this Agreement and the Master Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.6 16.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (Top Ships Inc.)

Control Account. The Lender 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 and the Master Agreement. The Borrower’s Borrowers’ obligations to repay the Loan and to pay interest and all other sums due under this Agreement and the Master Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.6 18.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (Danaos Corp)

Control Account. The Lender 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 and the Master Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement and the Master Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.6 16.6 and those entries will, in the absence of manifest error, be conclusive and binding.

Appears in 1 contract

Samples: Loan Agreement (Poseidon Containers Holdings Corp.)

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