Account Holder’s confirmation. The written confirmation of the Account Holder that the Accounts have been opened with the Account Holder and to its actual knowledge are free from Encumbrances other than as created by or pursuant to the Security Documents and rights of set off in favour of the Account Holder as account holder.
Appears in 4 contracts
Samples: Secured Loan Facility Agreement (Diana Containerships Inc.), Secured Loan Agreement (Diana Containerships Inc.), Secured Loan Agreement (Scorpio Tankers Inc.)
Account Holder’s confirmation. The written confirmation of the Account Holder that the relevant Earnings Accounts have been opened with the Account Holder and to its actual knowledge are free from Encumbrances other than as created by or pursuant to the Security Documents and rights of set off in favour of the Account Holder as account holder.
Appears in 3 contracts
Samples: Loan Agreement (Safe Bulkers, Inc.), Amending and Restating Agreement (Safe Bulkers, Inc.), Secured Loan Agreement (Safe Bulkers, Inc.)
Account Holder’s confirmation. The written confirmation of the Account Holder that the Existing Vessel Borrower’s Accounts have been opened with the Account Holder and to its actual knowledge are free from Encumbrances other than as created by or pursuant to the Security Documents and rights of set off in favour of the Account Holder as account holder.
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Account Holder’s confirmation. The written confirmation of the Account Holder that the Newbuilding Borrower’s Accounts have been opened with the Account Holder and to its actual knowledge are free from Encumbrances other than as created by or pursuant to the Security Documents and rights of set off in favour of the Account Holder as account holder.
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