Charter Accounts definition
Examples of Charter Accounts in a sentence
The Earnings Accounts, the Charter Accounts and the Retention Account and all amounts from time to time respectively standing to the credit thereof shall be subject to the security constituted and the rights conferred by, respectively, the Earnings Account Pledges, the Charter Account Pledges and the Retention Account Pledge.
Form of Junior Charter Accounts Charge.....................................
During the term of the Facility, each of the Borrower, ▇▇▇▇▇▇▇▇ Management and the Owners shall only be permitted to withdraw sums from the Operating Account, the Charter Accounts and the Reserve Account in accordance with the provisions of this Clause 12.
The parties hereto acknowledge that each Increasing Lender is purchasing its Assigned Loans of each Class ratably from each Assigning Lender assigning Loans of such Class and that each Assigning Lender is assigning its Assigned Loans of each Class ratably to each Increasing Lender purchasing Loans of such Class.
The Earnings Account, the Charter Accounts and the Retention Account and all amounts from time to time respectively standing to the credit thereof shall be subject to the security constituted and the rights conferred by, respectively, the Earnings Account Pledge, the Charter Account Pledges and the Retention Account Pledge.
The Borrower shall maintain the Reserve Account and shall procure that ▇▇▇▇▇▇▇▇ Management shall maintain the Operating Account and each of the Owners shall maintain their respective Charter Accounts with the relevant Account Bank until the Final Maturity Date, free of Security Interests (other than Permitted Security Interests) and rights of set-off other than as created by or pursuant to the Security Documents.
In this Agreement: Accounts means together the Reserve Account, the Operating Account and each of the Charter Accounts.
During the term of the Facility, each of the Obligors shall only be permitted to withdraw sums from the Operating Account, the Charter Accounts and the Reserve Account in accordance with the provisions of this Clause 14.