MDO Account definition

MDO Account shall have the meaning set forth in Exhibit A-6, attached hereto.
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MDO Account means the account, to be maintained with a bank acceptable to the Agent into which all earnings relating to the MDO Contract shall be deposited in accordance with the Bareboat Charter;
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Examples of MDO Account in a sentence

  • Upon the Delivery Date and at all times thereafter, (i) establish and maintain an Earnings Account in the name of the Borrower to be held with the Agent or another financial institution, and (ii) cause the Operating Entity to establish and maintain a MDO Account to be held with the Agent or another financial institution.

  • Upon the occurrence of an Event of Default all moneys then held in the Earnings Account, the MDO Account, or any other Account or account and any Assigned Moneys thereafter received by the Agent shall be retained by the Agent as collateral security for the Facilities to be applied by the Agent in the manner set forth in Section 8.3.

  • The Borrower agrees that the MDO Account shall be with a financial institution acceptable to the Agent.