Common use of Additional payments to Retention Account Clause in Contracts

Additional payments to Retention Account. If for any reason the amount standing to the credit of the Earnings Accounts shall be insufficient to make any transfer to the Retention Account required by Clause 11.3, the Borrower shall, without demand, procure that there is credited to the Retention Account, on the date on which the relevant amount would have been transferred from the Earnings Account, an amount equal to the amount of the shortfall.

Appears in 2 contracts

Samples: Loan Facility Agreement (Usg Corp), Secured Loan Facility Agreement (Usg Corp)

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Additional payments to Retention Account. If for any reason the amount standing to the credit of the Earnings Accounts shall be Account is insufficient to make any transfer to the Retention Account required by Clause 11.310.5 (Transfers to Retention Account), the Borrower shall, without demand, procure that there is credited to the Retention Account, on the date on which the relevant amount would have been transferred from the Earnings Account, an amount equal to the amount of the shortfall.

Appears in 2 contracts

Samples: Secured Loan Agreement (DHT Holdings, Inc.), Secured Loan Agreement (DHT Holdings, Inc.)

Additional payments to Retention Account. If for any reason the amount standing to the credit of the relevant Earnings Accounts shall be Account is insufficient to make any transfer to the Retention Account required by Clause 11.310.4 (Transfers to Retention Account), the Borrower Borrowers shall, without demand, procure that there is credited to the Retention Account, on the date on which the relevant amount would have been transferred from the Earnings Account, an amount equal to the amount of the shortfall.

Appears in 1 contract

Samples: Secured Loan Agreement (Poseidon Containers Holdings Corp.)

Additional payments to Retention Account. If for any reason the amount standing to the credit of the Earnings Accounts shall be Account is insufficient to make any transfer to the Retention Account required by Clause 11.310.4 (Transfers to Retention Account), the Borrower shall, without demand, procure that there is credited to the Retention Account, on the date on which the relevant amount would have been transferred from the Earnings Account, an amount equal to the amount of the shortfall."; 4.11 clause 10.4 of the Loan Agreement shall be deleted and replaced with the following clause:-

Appears in 1 contract

Samples: Secured Loan Facility Agreement (Top Ships Inc.)

Additional payments to Retention Account. If for any reason the amount standing to the credit of the Earnings Accounts shall be Account is insufficient to make any transfer to the Retention Account required by Clause 11.317.5 (Transfers to Retention Account), the Borrower Borrowers shall, without demand, procure that there is credited to the Retention Account, on the date on which the relevant amount would have been transferred from the Earnings Account, an amount equal to the amount of the shortfall.

Appears in 1 contract

Samples: Secured Loan Agreement (Scorpio Tankers Inc.)

Additional payments to Retention Account. If for any reason the amount standing to the credit of the Earnings Accounts Account shall be insufficient to make any transfer to the Retention Account required by Clause 11.312.3, the Borrower shall, without demand, procure that there is credited to the Retention Account, on the date on which the relevant amount would have been transferred from the Earnings Account, an amount equal to the amount of the shortfall.

Appears in 1 contract

Samples: Secured Loan Facility Agreement (Euroseas Ltd.)

Additional payments to Retention Account. If for any reason the amount standing to the credit of the Earnings Accounts shall be Account is insufficient to make any transfer to the Retention Account required by Clause 11.310.4 (Transfers to Retention Account), the Borrower shall, without demand, procure that there is credited to the Retention AccountAccount (as the case may be), on the date on which the relevant amount would have been transferred from the Earnings Account, an amount equal to the amount of the shortfall.

Appears in 1 contract

Samples: Secured Loan Agreement (Poseidon Containers Holdings Corp.)

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Additional payments to Retention Account. If for any reason the amount standing to the credit of the Earnings Accounts Account shall be insufficient to make any transfer to the Retention Account required by Clause 11.312.3, the Borrower Borrowers shall, without demand, procure that there is credited to the Retention Account, on the date on which the relevant amount would have been transferred from the Earnings Account, an amount equal to the amount of the shortfall.

Appears in 1 contract

Samples: Secured Loan Facility Agreement (Euroseas Ltd.)

Additional payments to Retention Account. If for any reason the amount standing to the credit of the relevant Earnings Accounts shall be is insufficient to make any transfer to the Retention Account required by Clause 11.310.5 (Transfers to Retention Account), the Borrower Borrowers shall, without demand, procure that there is credited to the Retention Account, on the date on which the relevant amount would have been transferred from the Earnings AccountAccounts or the relevant one of them, an amount equal to the amount of the shortfall.

Appears in 1 contract

Samples: Secured Loan Agreement (NewLead Holdings Ltd.)

Additional payments to Retention Account. If for any reason the amount standing to the credit of the an Earnings Accounts shall be Account is insufficient to make any transfer to the Retention Account required by Clause 11.316.4 (Transfers to Retention Account), the Borrower shall, without demand, procure that there is credited to the Retention Account, on the date on which the relevant amount would have been transferred from the Earnings Account, an amount equal to the amount of the shortfall.

Appears in 1 contract

Samples: Secured Term Loan Facility (DHT Holdings, Inc.)

Additional payments to Retention Account. If for any reason the amount standing to the credit of the Earnings Accounts shall be Account is insufficient to make any transfer to the Retention Account required by Clause 11.310.4 (Transfers to Retention Account), the Borrower shall, without demand, procure that there is credited to the Retention Account, on the date on which the relevant amount would have been transferred from the Earnings Account, an amount equal to the amount of the shortfall.

Appears in 1 contract

Samples: Secured Loan Agreement (Poseidon Containers Holdings Corp.)

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