Borrower Earnings Account definition

Borrower Earnings Account means, in relation to the Ships, an account in the name of the Borrower with the Account Bank designated “Eagle Shipping – Borrower Earnings Account”;

Borrower Earnings Account means the interest bearing Dollar account of the Borrower with the relevant Account Bank designated by the Facility Agent to be an Earnings Account for the purposes of the Security Documents in accordance with clause 14 (Accounts);

Borrower Earnings Account means the interest bearing dollar account of the Borrower with the Account Bank designated as an “Earnings Account” under clause 26 (Bank accounts).

Examples of Borrower Earnings Account in a sentence

• Each of the Borrower and the Guarantors shall keep separate accounts and shall not co-mingle assets with each other except for funds held in the Borrower Earnings Account or any other person.

• By placing a coloured stripe (edge) on the base colour (background) we get a torsion-active system.

• The Borrower undertakes with each Creditor Party to ensure that, subject to the provisions of the relevant Charter Assignment or Earnings Assignment, it shall cause each of the Guarantors to pay all Earnings of each Ship to the Borrower Earnings Account.

• The Borrowers shall procure that all Earnings received by them are paid to the Borrower Earnings Account.

• Since the treaty was not ratified and the federal government has not undertaken any additional efforts to recognize the tribe, the Nation remains a non-federally recognized tribe of Indians.

More Definitions of Borrower Earnings Account

Borrower Earnings Account means the interest bearing dollar account of the Borrower with the Account Bank designated as an "Earnings Account" under clause 26 (Bank accounts). Break Costs means the amount (if any) specified as such in the Reference Rate Terms. Business Day means: (a) a day (other than a Saturday or Sunday) on which banks are open for general business in London, Oslo, Amsterdam, Copenhagen and New York; and (b) in relation to: (i) any date for repayment of, or payment or purchase of an amount relating to, any Ship Tranche (or any relevant part of it) or Unpaid Sum; or (ii) the determination of the first day or the last day of an Interest Period for any Ship Tranche (or any relevant part of it) or Unpaid Sum, or otherwise in relation to the determination of the length of such an Interest Period, which is an Additional Business Day relating to that Ship Tranche (or any relevant part of it) or Unpaid Sum. Central Bank Rate has the meaning given to that term in the Reference Rate Terms. Central Bank Rate Adjustment has the meaning given to that term in the Reference Rate Terms. Central Bank Rate Spread has the meaning given to that term in the Reference Rate Terms. Change of Control occurs if: (a) the Borrower ceases, at any time following its acquisition of shares in an Owner, to directly wholly own and control such Owner; (b) together GLNG and/or Quantum Pacific Shipping cease to directly or indirectly own at least 25 per cent of the entire issued share capital and voting rights (or equivalent) of the Borrower; or

Borrower Earnings Account means the account numbered 00.000.000.000 and designated “Teekay — 5 LPG Earnings Account” held in the name of the Borrowers with the Security Trustee.