Common use of Monthly retentions Clause in Contracts

Monthly retentions. Each Borrower undertakes with each Creditor Party to ensure that, as of 1 January 2020 in each calendar month of the Security Period, on such dates as the Agent may from time to time specify, there is transferred to the Retention Account out of the Earnings received in its Earnings Account (or any of them) during the preceding calendar month:

Appears in 4 contracts

Samples: Loan Agreement, Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Global Ship Lease, Inc.)

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Monthly retentions. Each The Borrower undertakes with each Creditor Party to ensure that, as of 1 January 2020 throughout the Security Period on the same day in each calendar month of the Security Period, on such dates as the Agent may from time to time specifymonth, there is transferred to the Retention Account out of the Earnings received in its Earnings Account (or any of them) during the preceding calendar monthAccount:

Appears in 3 contracts

Samples: Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Partners L.P.), Execution Version (Navios Maritime Containers Inc.)

Monthly retentions. Each Borrower undertakes with each Creditor Party to ensure that, as of 1 January 2020 throughout the Security Period on the same day in each calendar month of the Security Period, on such dates as the Agent may from time to time specifymonth, there is transferred to the Retention Account out of the Earnings received in its Earnings Account (or any of them) during the preceding calendar monthAccount:

Appears in 2 contracts

Samples: Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Containers Inc.)

Monthly retentions. Each The Borrower undertakes with each Creditor Party to ensure that, as of 1 January 2020 in each calendar month of the Security PeriodPeriod commencing one month after the Drawdown Date, on such dates as the Agent may from time to time specify, there is transferred to the Retention Account out of the Earnings received in its the Earnings Account (or any of them) during the preceding calendar month:

Appears in 2 contracts

Samples: Agreement (Euroseas Ltd.), Loan Agreement (EuroDry Ltd.)

Monthly retentions. Each The Borrower undertakes with each Creditor Party to ensure that, as of 1 January 2020 in each calendar month of the Security Period, on such dates as the Agent may from time to time specify, there is transferred to the Retention Account out of the Earnings received in its the Earnings Account (or any of them) during the preceding calendar month:

Appears in 1 contract

Samples: Loan Agreement (GasLog Ltd.)

Monthly retentions. Each The Borrower undertakes with each Creditor Party to ensure that, as one month after 12 May 2008 on the same day of 1 January 2020 in each calendar following month of during the Security Period, on such dates as the Agent may from time to time specify, there is transferred to the Retention Account out of by either the Earnings received in its Earnings Account (Borrower, the Shareholders or any of them) during the preceding calendar monthDryShips:

Appears in 1 contract

Samples: Executed and Delivered (DryShips Inc.)

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Monthly retentions. Each Borrower undertakes The Borrowers undertake with each Creditor Party to ensure that, as of 1 January 2020 in each calendar month of the Security PeriodPeriod after the relevant Ship has been delivered to a Borrower, on such dates as the Agent may from time to time specify, there is transferred to the Retention Account out of the Earnings received in its the Earnings Account (or any of them) during the preceding calendar month:

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

Monthly retentions. Each The Borrower undertakes with each Creditor Party to ensure that, as of 1 January 2020 in each calendar month of the Security Period, Period on such dates as the Agent may from time to time specify, there is transferred to the Retention Account out of the Earnings received in its Earnings Account (or any of them) the Operating Accounts during the preceding calendar month:

Appears in 1 contract

Samples: Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.)

Monthly retentions. Each Borrower undertakes The Borrowers undertake with each Creditor Party to ensure that, as of 1 January 2020 in each calendar month of the Security PeriodPeriod commencing one month after a Drawdown Date, on such dates as the Agent may from time to time specify, there is transferred to the Retention Account out of the aggregate Earnings received in its the Earnings Account (or any of themAccount(s) during the preceding calendar month:

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

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