Common use of Earnings Clause in Contracts

Earnings. ensure and procure that, unless and until directed by the Bank otherwise (i) all the Earnings of the Vessel shall be paid to the Earnings Account and (ii) the persons from whom the Earnings are from time to time due are irrevocably instructed to pay them to such account in the name of the Borrower as shall be from time to time agreed by the Bank in accordance with the provisions hereof and of the relevant Security Documents;

Appears in 3 contracts

Samples: Agreement (Top Ships Inc.), Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (FreeSeas Inc.)

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Earnings. ensure and procure that, unless and until directed by the Bank Lender otherwise (i) all the Earnings of the Vessel shall be paid to the Earnings Operating Account and (ii) the persons from whom the Earnings are from time to time due are irrevocably instructed to pay them to the Operating Account or to such account in the name of the Borrower as shall be from time to time agreed determined by the Bank Lender in accordance with the provisions hereof and of the relevant Security Documents;

Appears in 2 contracts

Samples: Loan Agreement (Performance Shipping Inc.), Performance Shipping Inc.

Earnings. ensure and procure that, unless and until directed by the Bank Lender otherwise (i) all the Earnings of the Vessel shall be paid to the Earnings Account and (ii) the persons from whom the Earnings are from time to time due are irrevocably instructed to pay them to the said Earnings Account or to such account in the name of the Borrower as shall be from time to time agreed determined by the Bank Lender in accordance with the provisions hereof and of the relevant Security Documents;

Appears in 2 contracts

Samples: Seanergy Maritime Holdings Corp., Seanergy Maritime Holdings Corp.

Earnings. ensure and procure that, unless and until directed by the Bank otherwise (i) all the Earnings of each of the Vessel Vessels shall be paid to the respective Earnings Account and (ii) the persons from whom the Earnings of each Vessel are from time to time due due, are irrevocably instructed to pay them to such account in the name of the Borrower as shall be from time to time agreed by the Bank relevant Earnings Account in accordance with the provisions hereof and of the relevant Security Documents;”;

Appears in 1 contract

Samples: First Supplemental Agreement (Costamare Inc.)

Earnings. ensure and procure that, unless and until directed by the Bank Lender otherwise (i) all the Earnings of the Vessel shall be paid to the Earnings Operating Account and (ii) the persons from whom the Earnings are from time to time due are irrevocably instructed to pay them to the Operating Account or to such account in the name of the Borrower as shall be from time to time agreed determined by the Bank Lender in accordance with the provisions hereof and of this Agreement and/or the relevant Security Documents;

Appears in 1 contract

Samples: Loan Agreement (Pyxis Tankers Inc.)

Earnings. ensure and procure that, unless and until directed by the Bank otherwise (i) all the Earnings of the each Vessel shall be paid to the relevant Earnings Account and (ii) the persons from whom the Earnings of such Vessel are from time to time due are irrevocably instructed to pay them to such account in the name of the Borrower as shall be from time to time agreed by the Bank Earnings Account in accordance with the provisions hereof and of the relevant Security Documents;

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Earnings. ensure and procure that, unless and until directed by the Bank otherwise (i) all the Earnings of the each Vessel shall be paid to the relevant Earnings Account and (ii) the persons from whom the Earnings are from time to time due are irrevocably instructed to pay them to such account in the name of the Borrower as shall be from time to time agreed by the Bank relevant Earnings Account in accordance with the provisions hereof and of the relevant Security Documents;

Appears in 1 contract

Samples: Loan Agreement (Costamare Inc.)

Earnings. ensure and procure that, unless and until directed by the Bank Lender otherwise (i) all the Earnings of the its Vessel shall be paid to the Earnings Borrower’s Operating Account and (ii) the persons from whom the Earnings are from time to time due are irrevocably instructed to pay them to the Borrower’s Operating Account or to such account in the name of the Borrower as shall be from time to time agreed determined by the Bank Lender in accordance with the provisions hereof and of this Agreement and/or the relevant Security Documents;

Appears in 1 contract

Samples: Seanergy Maritime Holdings Corp.

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Earnings. ensure and procure that, unless and until directed by the Bank otherwise (i) all the Earnings of the Vessel Vessels shall be paid to the Earnings Account and (ii) the persons from whom the Earnings are from time to time due are irrevocably instructed to pay them to such account in the name of the Borrower Borrowers as shall be from time to time agreed by the Bank in accordance with the provisions hereof and of the relevant Security Documents;

Appears in 1 contract

Samples: Loan Agreement (FreeSeas Inc.)

Earnings. ensure and procure that, unless and until directed by the Bank otherwise (i) all the Earnings of the each Vessel shall be paid to the relevant Earnings Account and (ii) the persons from whom the Earnings of a Vessel are from time to time due are irrevocably instructed to pay them to such account in the name of the Borrower as shall be from time to time agreed by the Bank relevant Earnings Account in accordance with the provisions hereof and of the relevant Security Documents;

Appears in 1 contract

Samples: Loan Agreement (Poseidon Containers Holdings Corp.)

Earnings. ensure and procure that, unless and until directed by the Bank Lender otherwise (i) all the Earnings of the Vessel shall be paid to the Earnings Operating Account and (ii) the persons from whom the Earnings are from time to time due are irrevocably instructed to pay them to the said Operating Account or to such account in the name of the Borrower as shall be from time to time agreed determined by the Bank Lender in accordance with the provisions hereof and of the relevant Security Documents;

Appears in 1 contract

Samples: Agreement (Pangaea Logistics Solutions Ltd.)

Earnings. ensure and procure that, unless and until directed by the Bank otherwise (i) all the Earnings of the Vessel shall be paid to the relevant Earnings Account and (ii) the persons from whom the Earnings of the Vessel are from time to time due are irrevocably instructed to pay them to such account in the name of the Borrower as shall be from time to time agreed by the Bank Earnings Account in accordance with the provisions hereof and of the relevant Security Documents;

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

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