Common use of Release of Clause in Contracts

Release of. surplus Any amount remaining to the credit of the Earnings Accounts following the making of any transfer required by Clause 17.4 (Application of Earnings Accounts) shall (provided that no Event of Default is continuing and further provided that no payment is due to the Finance Parties pursuant to the Finance Documents) be released to or to the order of the Borrowers. The Accounts shall not be overdrawn. The Guarantor shall not be permitted to withdraw sums from the Liquidity Account save for sums that are in excess of the balances set out in Clause 17.14 (Liquidity Account) or otherwise with the prior written consent of the Agent.

Release of. surplus Any amount remaining to the credit of the Earnings Accounts following the making of any transfer required by Clause 17.4 (Application of Earnings Accounts) shall (provided that no Event of Default is continuing and further provided that no payment is due to the Finance Parties pursuant to the Finance Documents) be released to or to the order of the Borrowers. The Accounts shall not be overdrawn. The Original Guarantor shall not be permitted to withdraw sums from the Liquidity Account save for sums that are in excess of the balances set out in Clause 17.14 (Liquidity Account) or otherwise with the prior written consent of the Agent.