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 Accounts (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 13.1.
Appears in 5 contracts
Samples: Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Capital Maritime & Trading Corp.)
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 Accounts 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 13.114.1.
Appears in 5 contracts
Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)
Application of accounts. At any time after the occurrence of an Event of Default, the Bank may, without notice to the BorrowerBorrowers, 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 Bank under the Security Documents in the manner specified in clause 13.1.
Appears in 3 contracts
Samples: Facility Agreement, Facility Agreement (Navios Maritime Acquisition CORP), Facility Agreement (Navios Maritime Acquisition CORP)
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 Accounts Earnings Account 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 Bank under the Security Documents in the manner specified in clause 13.1.
Appears in 3 contracts
Samples: Facility Agreement (Navios Maritime Holdings Inc.), Facility Agreement (Navios Maritime Holdings Inc.), Facility Agreement (Navios Maritime Holdings Inc.)
Application of accounts. At any time after the occurrence of an Event of Default, the Bank may, without notice to the BorrowerBorrowers, apply all moneys then standing to the credit of the Accounts Earnings Account 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 Bank under the Security Documents in the manner specified in clause 13.1.
Appears in 3 contracts
Samples: Facility Agreement, Facility Agreement (Navios Maritime Holdings Inc.), Facility Agreement (Navios Maritime Holdings Inc.)
Application of accounts. At any time after the occurrence of an Event of Default, the Bank may, without notice to the BorrowerBorrower or any Owner, apply all moneys then standing to the credit of the Operating Accounts (together with interest from time to time accruing or accrued thereon) in payment to the Bank and the Bank shall apply the same in or towards satisfaction of any sums due to the Bank under the Security Documents in the manner specified in clause 13.1.
Appears in 2 contracts
Samples: Supplemental Agreement (Top Ships Inc.), Facilities Agreement (Top Tankers Inc.)
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 Accounts (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 13.114.1.
Appears in 2 contracts
Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)
Application of accounts. At any time after the occurrence of an Event of Default, the Bank may, without notice to the BorrowerBorrowers, apply all moneys then standing to the credit of the Accounts any 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 13.1.
Appears in 2 contracts
Samples: Second Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Facility Agreement (Aegean Marine Petroleum Network Inc.)
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 Accounts 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 13.114.1.
Appears in 1 contract
Samples: Loan Agreement (Safe Bulkers, Inc.)
Application of accounts. At any time after the occurrence of an Event of Default, the Bank may, without notice to the BorrowerBorrowers, apply all moneys then standing to the credit of the Accounts Earnings 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 Bank under the Security Documents in the manner specified in clause 13.1.
Appears in 1 contract
Application of accounts. At any time after the occurrence of an Event of Default, the Bank may, without notice to the BorrowerBorrowers, apply all moneys then standing to the credit of the Accounts Operating Account (together with interest from time to time accruing or accrued thereon) in payment to the Bank and the Bank shall apply the same in or towards satisfaction of any sums due to the Bank under the Security Documents in the manner specified in clause 13.1.
Appears in 1 contract
Samples: Loan Agreement (Top Tankers Inc.)
Application of accounts. At any time after the occurrence of an Event of Default, the Bank may, without notice to the Borrower, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts Earnings Account (together with interest from time to time accruing or accrued thereon) in payment to the Bank and the Bank shall apply the same in or towards satisfaction of any sums due to the Bank under the Security Documents in the manner specified in clause 13.1.
Appears in 1 contract
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 Accounts any 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 13.1.
Appears in 1 contract
Samples: Facility Agreement (Aegean Marine Petroleum Network Inc.)
Application of accounts. At any time after the occurrence of an Event of Default, the Bank Banks may, without notice to the BorrowerBorrowers, instruct the Account Bank to apply all moneys then standing to the credit of the Accounts Earnings Account (together with interest from time to time accruing or accrued thereon) in payment to the Agent and the Agent shall apply the same in or towards satisfaction of any sums due to the Bank Agent and/or the Banks under the Security Documents in the manner specified in clause 13.1.
Appears in 1 contract
Samples: Loan Agreement (Mc Shipping Inc)
Application of accounts. At any time after the occurrence of an Event of Default, the Bank may, without notice to the BorrowerBorrowers, apply all moneys then standing to the credit of the Accounts Earnings 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 13.1.
Appears in 1 contract
Application of accounts. At any time after the occurrence of an Event of Default, the Bank may, without notice to the BorrowerBorrowers, 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 Bank under the Security Documents in the manner specified in clause 13.1.
Appears in 1 contract
