Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Banks shall), without notice to the Borrowers, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts or any of them (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Creditors or any of them under the Security Documents in the manner specified in clause 13.1.
Application of accounts. At any time after the occurrence of an Event of Default, the Bank may, without notice to the Borrower, apply all moneys then standing to the credit of the Cash Collateral Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Bank under the Security Documents in the manner specified in clause 14.1.
Application of accounts. At any time after the occurrence of an Event of Default, the Lender may without notice to the Owners, apply all moneys then standing to the credit of any Earnings Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Lender under the Security Documents in the manner specified in clause 13.1.
Application of accounts. At any time after the Agent has exercised its rights pursuant to clause 10.1, the Agent may, without notice to the Borrower but subject to the terms of the Security Documents, instruct the Account Banks to apply all moneys then standing to the credit of the Accounts (other than the Distribution Account) (together with interest from time to time accruing or accrued thereon) in payment to the Security Trustee and the Security Trustee shall apply the same in or towards satisfaction of any sums due to the Agent, the Security Trustee, the KEIC Agent, the Swap Providers and the Lenders under the Security Documents in the manner specified in the Intercreditor Deed.
Application of accounts. At any time after the occurrence of an Event of Default which is continuing, the Lender may, without prior notice to the Borrower 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 and payable to Lender under the Security Documents at the time of such applications in the manner specified in clause 13.1 (Application of moneys). Following such application, the Lender shall give notice thereof to the Borrower.
Application of accounts. At any time after the occurrence of an Event of Default which is continuing, the Agent may, with prior notice to the Borrower, instruct the Security Agent or the relevant Finance Party to apply all moneys then standing to the credit of the HSH Accounts (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Finance Parties under the Finance Documents in the manner specified in clause 27.22 (Order of application).
Application of accounts. At any time after the occurrence of an Event of Default, the Agent may (and on the instructions of the Majority Lenders shall), without notice to the Borrowers, instruct the Account Bank to apply all moneys then standing to the credit of the Earnings Accounts and/or the Retention Account (together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Banks or any of them under the Security Documents in the manner specified in clause 13.1 (subject to any right of pledge arising from the general banking conditions (algemene bankvoorwaarden) of the Account Bank).
Application of accounts. At any time after the occurrence of an Event of Default, the Facility Agent may, and if instructed by the Majority Lenders shall, without notice to the Borrowers, instruct the relevant Account Bank to apply all moneys then standing to the credit of any Operating Account, any Debt Service Account, any Retention Account or any Hedging Payments Account (in each case, together with interest from time to time accruing or accrued thereon) in or towards satisfaction of any sums due to the Finance Parties or any of them under the Finance Documents in the manner specified in clause 18.1 (Application of moneys) and the Borrowers undertake to authorise the relevant Account Bank to effect each such transfer.
Application of accounts. So long as no Event of Default shall have occurred and be continuing, the Lenders shall apply funds received in the Sweep Account to the Obligations as follows:
Application of accounts. On the Repayment Date or upon any part of the Loan becoming immediately due and payable, the sums outstanding to the credit of each Account may be applied by the Agent (and it is irrevocably authorised to do so by each Borrower) in or towards payment of the Secured Obligations in accordance with the provisions of the Finance Documents.
