Remittance of Earnings Immediately. upon the occurrence of an Event of Default the Borrowers shall procure that all Earnings are paid to such account(s) as the Agent shall from time to time specify by notice in writing to the Borrowers.
Appears in 6 contracts
Samples: Facility Agreement, Facility Agreement (Teekay Tankers Ltd.), Facility Agreement (Teekay LNG Partners L.P.)
Remittance of Earnings Immediately. upon the occurrence of an Event of Default the Borrowers Borrower shall procure that all Earnings are paid to such account(s) as the Agent shall from time to time specify by notice in writing to the BorrowersBorrower.
Appears in 3 contracts
Samples: Loan Agreement, Loan Agreement (Teekay Shipping Corp), Loan Agreement (Teekay Offshore Partners L.P.)
Remittance of Earnings Immediately. upon the occurrence of an Event of Default which is continued unremedied or unwaived, the Borrowers Borrower shall procure that all Earnings and any Requisition Compensation are paid to the Earnings Account (to be opened in the joint names of the Owners with the Account Holder following the occurrence of an Event of Default) or to such other account(s) as the Agent shall from time to time specify by notice in writing to the BorrowersBorrower.
Appears in 2 contracts
Samples: Loan Facility Agreement (Teekay LNG Partners L.P.), Loan Facility Agreement (Teekay Shipping Corp)
Remittance of Earnings Immediately. upon the occurrence of an Event of Default which is continuing unremedied or unwaived the Borrowers shall procure that all Earnings are paid to such account(s) account as the Agent shall from time to time specify by notice in writing to the Borrowers.
Appears in 1 contract
Samples: Agreement (Teekay LNG Partners L.P.)
