Common use of Account Terms Clause in Contracts

Account Terms. Amounts standing to the credit of the Earnings Accounts and the Retention Account shall (unless otherwise agreed between the Account Bank and the Borrowers) bear interest at the rates from time to time offered by the Account Bank to its customers for Dollar deposits in comparable amounts for comparable periods. Interest shall accrue on the Earnings Accounts and the Retention Account from day to day and be calculated on the basis of actual days elapsed and a three hundred and sixty (360) day year and shall be credited to the relevant Account at such times as the Account Bank and the Borrowers shall agree.

Appears in 2 contracts

Samples: Loan Agreement (Seanergy Maritime Holdings Corp.), Second Supplemental Agreement (Seanergy Maritime Holdings Corp.)

AutoNDA by SimpleDocs

Account Terms. Amounts standing to the credit of the Earnings Accounts and the Retention Account shall (unless otherwise agreed between the Account Bank and the BorrowersBorrower) bear interest at the rates from time to time offered by the Account Bank to its customers for Dollar deposits in comparable amounts for comparable periods. Interest shall accrue on the Earnings Accounts and the Retention Account from day to day and be calculated on the basis of actual days elapsed and a three hundred and sixty (360) 360 day year and shall be credited to the relevant Account Accounts at such times as the Account Bank and the Borrowers Borrower shall agree.

Appears in 2 contracts

Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

Account Terms. Amounts standing to the credit of the Earnings Accounts and the Retention each Account shall (unless otherwise agreed between the Account Bank and the Borrowers) bear interest at the rates from time to time offered by the Account Bank to its customers for Dollar deposits in comparable amounts for comparable periods. Interest shall accrue on the Earnings Accounts and the Retention each Account from day to day and be calculated on the basis of actual days elapsed and a three hundred and sixty (360) day year and shall be credited to the relevant Account at such times as the Account Bank and the Borrowers shall agree.

Appears in 1 contract

Samples: Facility Agreement (Costamare Inc.)

Account Terms. Amounts standing to the credit of the Earnings Accounts and the Retention Account shall (unless otherwise agreed between the Account Bank and the Borrowers) Borrower), bear interest at the rates from time to time offered by the Account Bank to its prime customers for Dollar deposits in comparable amounts for comparable periods. Interest shall accrue on the Earnings Accounts and the Retention Account from day to day and be calculated on the basis of actual days elapsed and a three hundred and sixty (360) day year and shall be credited to the relevant Account Accounts at such times as the Account Bank and the Borrowers Borrower shall agree.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

AutoNDA by SimpleDocs

Account Terms. Amounts standing to the credit of the Earnings Accounts and the Retention Account shall (unless otherwise agreed between the Account Bank and the Borrowers) bear interest at the rates from time to time offered by the Account Bank to its customers for Dollar deposits in comparable amounts for comparable periods. Interest shall accrue on the Earnings Accounts and the Retention Account from day to day and be calculated on the basis of actual days elapsed and a three hundred and sixty (360) day year and shall be credited to the relevant Account Accounts at such times as the Account Bank and the Borrowers shall agree.

Appears in 1 contract

Samples: Loan Agreement (Poseidon Containers Holdings Corp.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!