Common use of Allseas Bank Account Clause in Contracts

Allseas Bank Account. Allseas shall have opened a demand deposit account or confirmed that such demand deposit account exists, as the case may be, with HSBC Bermuda Bank Limited for the purpose of receiving all revenues from any third party (including, but not limited to ED & F) for employment of the Vessel (the "Allseas Cash Deposit Account").

Allseas Bank Account. Allseas shall have opened a demand deposit account or confirmed that such demand deposit account exists, as the case may be, with HSBC Bermuda Bank Limited for the purpose of receiving all revenues from any third party (including, but not limited to ED & FCargill) for employment of the Vessel (the "Allseas Cash Deposit Account").