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 as the Earnings Account for that Ship, or any other account (with the Account Bank or the Agent or with another bank or financial institution acceptable to the Majority Lenders) for the purpose of receiving all charter hire and other amounts paid under the relevant Time Charter;

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;

Examples of Earnings Account in a sentence

• All payments by the Swap Bank to the Borrower under each Designated Transaction shall be credited to the Earnings Account.

• Each Borrower shall ensure that subject only to the provisions of a Tripartite Assignment or General Assignment to which it is a party, all the Earnings in respect of the Ship owned by it are paid in to its Earnings Account.

• The Borrower shall ensure that subject only to the provisions of the General Assignment to which it is a party, all the Earnings in respect of the Ship are paid in to its Earnings Account.

• For the avoidance of doubt, no Account Control Agreement shall be required to be entered into over any Earnings Account other than the Pledged Earnings Accounts.

• No Borrower may, without the prior consent of the Facility Agent, maintain any bank account other than its Earnings Account.

More Definitions of Earnings Account

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;

Earnings Account means, in relation to a Borrower:

Earnings Account means, in relation to the Ship, an account in the name of the Borrower with the Agent in Hamburg designated "Ultra One Shipping Ltd - Earnings Account", or any other account (with that or another office of the Agent or with a bank or financial institution other than the Agent) which replaces such account and is designated by the Agent as the Earnings Account for the purposes of this Agreement in accordance with the Agent's instructions in writing;

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 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 an account in the name of the Borrower with the Agent in London with account number 0045675701, or any other account (with that or another office of the Agent or with a bank or financial institution other than the Agent) which is designated by the Agent as the Earnings Account for the purposes of this Agreement;

Earnings Account means any one of them.