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.
Appears in 4 contracts
Samples: Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)
