Common use of Shortfall in Earnings Clause in Contracts

Shortfall in Earnings. If the aggregate Earnings received in the Operating Account are insufficient in any month for the required amount to be transferred to the Retention Account under Clause 17.2, the Borrower shall make up the amount of the insufficiency on demand from the Lender; but, without thereby prejudicing the Lender's right to make such demand at any time, the Lender may permit the Borrower to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 from the Earnings received in the next or subsequent months.

Appears in 4 contracts

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

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Shortfall in Earnings. If the aggregate Earnings received in the Operating Earnings Account are insufficient in any month for the required amount to be transferred to the Retention Account under Clause 17.2, the Borrower shall make up the amount of the insufficiency on demand from the Lender; but, without thereby prejudicing the Lender's ’s right to make such demand at any time, the Lender may permit the Borrower to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 from the Earnings received in the next or subsequent months.

Appears in 3 contracts

Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (Box Ships Inc.), Loan Agreement (Star Bulk Carriers Corp.)

Shortfall in Earnings. If the aggregate Earnings received in the Operating Account Earnings Accounts are insufficient in any month for the required amount to be transferred to the Retention Account under Clause 17.2, the Borrower shall make up the amount of the insufficiency on demand from insufficiency; the Lender; butLender may, without thereby prejudicing the Lender's right to make such demand at any time, the Lender may permit the Borrower to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

Shortfall in Earnings. If the aggregate Earnings received in the Operating Account Earnings Accounts are insufficient in any month for the required amount to be transferred to the Retention Account under Clause 17.2, the Borrower shall make up the amount of the insufficiency on demand from the Lender; but, without thereby prejudicing the Lender's right to make such demand at any time, the Lender may permit the Borrower to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Shortfall in Earnings. If the aggregate Earnings received in the Operating Account are insufficient in any month for the required amount to be transferred to the Retention Account under Clause 17.218.2, the Borrower Borrowers shall make up the amount of the insufficiency on demand from the LenderLenders; but, without thereby prejudicing the Lender's Lenders’ right to make such demand at any time, the Lender Lenders may permit the Borrower Borrowers to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 18.2 from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

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Shortfall in Earnings. If the aggregate Earnings received in the Operating Earnings Account are insufficient in any month for the required amount to be transferred to the Retention Account under Clause 17.2, the Borrower shall make up the amount of the insufficiency on demand from the Lender; but, without thereby prejudicing the Lender's right to make such demand at any time, the Lender may permit the Borrower to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Agreement (Paragon Shipping Inc.)

Shortfall in Earnings. If the aggregate Earnings received in the Operating Earnings Account are insufficient in any month for the required amount to be transferred to the Retention Account under Clause 17.2, the Borrower Borrowers shall make up the amount of the insufficiency on demand from the Lender; but, without thereby prejudicing the Lender's right to make such demand at any time, the Lender may permit the Borrower Borrowers to make up all or part of the insufficiency by increasing the amount of any transfer under Clause 17.2 from the Earnings received in the next or subsequent months.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

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