Earnings Account definition
Earnings Account means, in relation to a Ship, an account in the name of the Borrower owning that Ship with the Account Bank designated “[name of relevant Borrower] - Earnings Account”, or any other account (with that or another office of the Account Bank) which replaces such account and is designated by the Agent as that Earnings Account for the purposes of this Agreement;
Earnings Account means, in relation to a Borrower:
Earnings Account means, in respect of each Borrower, an interest bearing USD Account required to be opened hereunder with the relevant Account Bank in the name of that Borrower designated “[NAME OF BORROWER] — Earnings Account” and includes any other account designated in writing by the Agent to be an Earnings Account for the purposes of this Agreement;
Examples of Earnings Account in a sentence
No Borrower may, without the prior consent of the Facility Agent, maintain any bank account other than its Earnings Account; for the avoidance of doubt, the Borrowers may maintain any bank accounts they hold under the Existing Agreements, which they undertake to close within 3-month period from the Utilisation Date.
Each Borrower shall ensure that subject only to the provisions of the relevant General Assignment and Charterparty Assignment, all the Earnings are paid into its Earnings Account.
More Definitions of Earnings Account
Earnings Account means a segregated account established and maintained by the Custodian for the purpose of receiving any Securities Loan Fee paid by Borrowers in connection with Securities loans hereunder.
Earnings Account means, in respect of each Borrower, an interest bearing USD Account required to be opened hereunder with the Bank in the name of that Borrower designated “[NAME OF BORROWER] — Earnings Account” and includes any other account designated in writing by the Bank to be an Earnings Account for the purposes of this Agreement;
Earnings Account means an account in the name of a Borrower with the Agent designated “Earnings Account” and to which any part of the Earnings of that Borrower shall be paid.
Earnings Account means the deposit account or accounts of the Collateral Rig Operator designated as such from time to time by the Collateral Rig Operator in the applicable Account Pledge Agreement into which all Earnings derived from the Drilling Contract are deposited.
Earnings Account means any one of them.
Earnings Account means a bank account to be opened in the name of the Borrower with the Agent and designated “Vessel Net Earnings Account”.
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;