Equity Deposit Accounts Sample Clauses


Equity Deposit Accounts. The aggregate credit balances on the Equity Deposit Accounts shall at no time be less than the difference between (i) the aggregate of unpaid instalments under the Shipbuilding Contracts and (ii) the aggregate of the undrawn Commitments and the Borrowers may on each Drawdown Date apply sums from the Equity Deposit Accounts equally in payment of the balance (after taking into account the relevant Advance) of the instalment then payable to the Builder.