Bareboat Account definition

Bareboat Account means the deposit account or accounts of the Collateral Rig Owner designated as such from time to time by the Collateral Rig Owner in the applicable Account and Receivables Pledge Agreement into which all earnings, hires, freights, income and other sums payable to the Collateral Rig Owner in respect of the Collateral Rig under the Bareboat Charter or otherwise derived from the Bareboat Charter, are deposited.
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Bareboat Account means (i) that certain account no. 7775039246 held by Xxxxx Fargo Bank, National Association in the name of the Pledgor and (ii) any other Deposit Account as designated in writing by the Pledgor to the Collateral Agent from time to time as the “Bareboat Account” referred to herein into which (a) all dividends, other similar payments and distributions received from the Collateral Rig Operator and (b) all earnings, hires, freights, income and other sums payable to the Pledgor in respect of the Collateral Rig under the Bareboat Charter or otherwise derived from the Bareboat Charter, are deposited. In accordance with the definition of “Bareboat Account” in the Indenture, account no. 7775039246 held by Xxxxx Fargo Bank, National Association in the name of the Pledgor is hereby designated as the Bareboat Account for purposes of the Indenture and this Agreement until such time that the Pledgor designates in writing to the Collateral Agent another deposit account as the Bareboat Account for purposes of the Indenture and this Agreement, whether under this Agreement or another applicable Account and Receivables Pledge Agreement.
Sample 1
Bareboat Account means the deposit account or accounts of the Collateral Rig Owner designated as such from time totime by the Collateral Rig Owner in the applicable Account and Receivables Pledge Agreement into which all earnings, hires, freights, income and other sums payable to the Collateral Rig Owner in respect of the Collateral Rig under the Bareboat Charter or otherwise derived from the Bareboat Charter, are deposited.
Sample 1

Examples of Bareboat Account in a sentence

  • For the avoidance of doubt, during any Blocked Period, Holdings may continue to cause the Collateral Rig Operator to pay amounts due under the Bareboat Charter into the Bareboat Account, and the Collateral Rig Owner may continue to pay amounts due under the Bareboat Charter, if any, into the Earnings Account by delivering a Blocked Period Withdrawal Certificate.

  • If such certificate states that no Default or Event of Default exists and the Total Leverage Ratio as of the last day of the relevant fiscal quarter of Holdings is equal to or less than 10.00:1.00, the Company shall notify the Collateral Agent to, and the Collateral Agent shall promptly, instruct the relevant depositary bank under the control agreements for the Earnings Account and Bareboat Account to revoke any then existing Blocked Period and Blocking Notice.

  • If such certificate states that the Total Leverage Ratio as of the last day of the relevant fiscal quarter of Holdings exceeds 10.00:1.00, the Company shall notify the Collateral Agent to, and the Collateral Agent shall promptly, instruct the relevant depositary bank under the control agreements for the Earnings Account and Bareboat Account to institute a Blocked Period (as defined in Section 4.15) (such instruction, a “Blocking Notice”).

  • The Pledgor shall, with respect to the Bareboat Account, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, cause the depository bank which maintains the Bareboat Account to agree to comply at any time with instructions from the Collateral Agent to such depository bank directing the disposition of funds from time to time credited to the Bareboat Account, without further consent of the Pledgor or any other Person.

  • You are hereby irrevocably authorized and instructed to make all payments due by you in accordance with the terms of the Charter to: [insert Bareboat Account instructions].

  • The Pledgor shall, with respect to the Bareboat Account, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, cause the depository bank which maintains the Bareboat Account to agree to comply at any time with instructions from the Collateral Agent to such depository bank directing the disposition of funds from time to time credited to the Bareboat Account, without any further consent of the Pledgor or any other Person.

  • If such certificate states that no Default or Event of Default exists and the Total Leverage Ratio as of the last day of the relevant fiscal quarter of Holdings is equal to or less than 10.00:1.00, the Company shall notify the Collateral Agent to, and the Collateral Agent shall promptly, instruct the relevant depositary bank under the control agreements for the Earnings Account and Bareboat Account to revoke any then existing Blocked Period and Blocking Notice.( c ) Statement of Dayrates.

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  • If such certificate states that the Total Leverage Ratio as of the last day of the relevant fiscal quarter of Holdings exceeds 10.00:1.00, the Company shall notify the Collateral Agent to, and the Collateral Agent shall promptly, instruct the relevant depositary bank under the control agreements for the Earnings Account and Bareboat Account to 40 institute a Blocked Period (as defined in Section 4.15) (such instruction, a “Blocking Notice”).

  • For the avoidance of doubt, during any Blocked Period, Holdings may continue to cause the Collateral Rig Operator to, in instances where there is a Bareboat Charter in effect, pay amounts due under such Bareboat Charter into the Bareboat Account, and the Collateral Rig Owner may continue to pay amounts due under such Bareboat Charter, if any, into the Earnings Account by delivering a Blocked Period Withdrawal Certificate.


More Definitions of Bareboat Account

Bareboat Account means (i) that certain account no. 7775039246 held by Wells Fargo Bank, National Association in the name of the Pledgor and (ii) any other Deposit Account as designated in writing by the Pledgor to the Collateral Agent from time to time as the “Bareboat Account” referred to herein into which (a) all dividends, other similar payments and distributions received from the Collateral Rig Operator and (b) all earnings, hires, freights, income and other sums payable to the Pledgor in respect of the Collateral Rig under the Bareboat Charter or otherwise derived from the Bareboat Charter, are deposited. In
Sample 1
Bareboat Account means, in instances where there is a Bareboat Charter in effect, the deposit account or accounts of the Collateral Rig Owner designated as such from time to time by the Collateral Rig Owner in the applicable Account and Receivables Pledge Agreement into which all earnings, hires, freights, income and other sums payable to the Collateral Rig Owner in respect of the Collateral Rig under the Bareboat Charter or otherwise derived from the Bareboat Charter, are deposited. As of the Issue Date, ​ Titan Owner is both the Collateral Rig Operator and the Collateral Rig Owner; as such, there is no Bareboat Account as of the Issue Date.
Sample 1
Bareboat Account means the deposit account or accounts of each Collateral Rig Owner designated as such from time to time by such Collateral Rig Owner in the applicable Account and Receivables Pledge Agreement into which all earnings, hires, freights, income and other sums payable to such Collateral Rig Owner in respect of the applicable Collateral Rig under the applicable Bareboat Charter or otherwise derived from the applicable Bareboat Charter, are deposited. As of the Issue Date, Thalassa OwnCo is both the Collateral Rig Operator and the Collateral Rig Owner, and as such, there is no Bareboat Account for the “DEEPWATER THALASSA” as of the Issue Date. As of the Issue Date, Proteus OwnCo and Pontus OwnCo are each both the Collateral Rig Operator and the Collateral Rig Owner, and as such, there are no Bareboat Accounts for the “DEEPWATER PROTEUS” or the “DEEPWATER PONTUS” as of the Issue Date.
Sample 1
Bareboat Account means (i) that certain account no. 7774167303 held by Wells Fargo Bank, National
Sample 1

Related to Bareboat Account

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Investment Account As defined in Section 3.12(a).

  • Direct Account : means any Account which is not an ISA Account.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Earnings Account means, in relation to a Ship, an account in the name of the Owner owning that Ship with the Agent in Hamburg designated “[name of relevant Owner]—Earnings Account” or any other account (with that or another office of the Agent) which replaces such account and is designated by the Agent as that Earnings Account for the purposes of this Agreement and, in the plural, means all of them;

  • Dominion Account a special account established by Borrowers at Bank of America or another bank acceptable to Agent, over which Agent has exclusive control for withdrawal purposes.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Holding Account means an account:

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Financial Account means an account maintained by a Financial Institution, and includes:

  • Control Account means a Securities Account or Commodity Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodity Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.