Application after. acceleration From and after the giving of notice to the Borrower by the Agent under Clause 13.2 (Acceleration), the Borrower shall procure by entering into the Account Control Agreement that all sums from time to time standing to the credit of the Earnings Account are immediately transferred to the Security Agent for application in accordance with Clause 10.11 (Application of moneys by Security Agent) and the Borrower irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 2 contracts
Samples: Loan Agreement (Baltic Trading LTD), Loan Agreement (Baltic Trading LTD)
Application after. acceleration From and after the giving of notice to the Borrower Borrowers by the Agent under Clause 13.2 (Acceleration), the Borrower Borrowers shall procure by entering into the Account Control Agreement Agreements that all sums from time to time standing to the credit of either of the Earnings Account Accounts are immediately transferred to the Security Agent for application in accordance with Clause 10.11 (Application of moneys by Security Agent) and the Borrower Borrowers irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 2 contracts
Samples: Loan Agreement (Baltic Trading LTD), Loan Agreement (Baltic Trading LTD)
Application after. acceleration From and after the giving of notice to the Borrower Borrowers by the Agent under Clause 13.2 23.2 (Acceleration), the Borrower Borrowers and the Original Guarantor shall procure by entering into the Account Control Agreement that all sums from time to time standing to the credit of the Earnings any Account are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.10 (Application of moneys by Security Agent) and the Borrower Borrowers and the Original Guarantor irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Application after. acceleration From and after the giving of notice to the Borrower Borrowers by the Agent under Clause 13.2 22.1.22(a) (Acceleration), the Borrower Borrowers shall procure by entering into the Account Control Agreement that all sums from time to time standing to the credit of either of the Earnings Account Accounts are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.12 (Application of moneys by Security Agent) and the Borrower Borrowers irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Samples: Secured Loan Agreement (Genco Shipping & Trading LTD)
Application after. acceleration From and after the giving of notice to the Borrower Borrowers by the Agent under Clause 13.2 23.2 (Acceleration), the Borrower Borrowers and the Guarantor shall procure by entering into the Account Control Agreement that all sums from time to time standing to the credit of the Earnings any Account are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.10 (Application of moneys by Security Agent) and the Borrower Borrowers and the Guarantor irrevocably authorise the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Samples: Diana Containerships Inc.
Application after. acceleration From and after the giving of notice to the Borrower by the Agent under Clause 13.2 22.2 (Acceleration), the Borrower shall procure by entering into the Account Control Agreement that all sums from time to time standing to the credit of any of the Earnings Account Accounts are immediately transferred to the Security Agent or any Receiver or Delegate for application in accordance with Clause 10.11 17.8 (Application of moneys by Security Agent) and the Borrower irrevocably authorise authorises the Security Agent to instruct the Account Holder to make those transfers.
Appears in 1 contract
Samples: Safe Bulkers, Inc.