Common use of Application of account Clause in Contracts

Application of account. At any time after the occurrence of an Event of Default but subject to the provisions of the Restructuring Agreement, the Security Trustee may, without notice to the Company, instruct the Account Bank to apply all moneys then standing to the credit of the Earnings Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Combined Creditors under the Finance Documents and the Existing Finance Documents in the manner specified in the Agency Agreement.