Application of moneys by Security Agent. The Borrower and the Finance Parties irrevocably authorise the Security Agent or any Receiver or Delegate to apply all moneys which it receives and is entitled to receive: 17.11.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 17.11.2 by way of payment of any sum in respect of the Master Agreement Proceeds, any Intercompany Loan Agreement, the Insurances, Earnings, any Charter or any Requisition Compensation; or
Appears in 2 contracts
Samples: Secured Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Bulkers Inc.)
Application of moneys by Security Agent. The Borrower and the Finance Parties irrevocably authorise the Security Agent or any Receiver or Delegate to apply all moneys which it receives and is entitled to receive:
17.11.1 : (a) pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or
17.11.2 by way of payment of any sum in respect of the Master Agreement Proceeds, any Intercompany Loan Agreement, the Insurances, Earnings, any Charter or any Requisition Compensation; or
Appears in 1 contract
Application of moneys by Security Agent. The Borrower and the Finance Parties irrevocably authorise the Security Agent or any Receiver or Delegate to apply all moneys which it receives and is entitled to receive:
17.11.1 17.12.1 pursuant to a sale or other disposition of the a Delivered Vessel or any right, title or interest in the a Delivered Vessel; or
17.11.2 by way of payment of any sum in respect of the Master Agreement Proceeds, any Intercompany Loan Agreement, the Insurances, Earnings, any Charter or any Requisition Compensation; or
Appears in 1 contract
Application of moneys by Security Agent. The Borrower Borrowers and the Finance Parties irrevocably authorise the Security Agent or any Receiver or Delegate to apply all moneys which it receives and is entitled to receive:
17.11.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or
17.11.2 by way of payment of any sum in respect of the Master Agreement Proceeds, any Intercompany Loan Agreement, the Insurances, Earnings, any Charter or any Requisition Compensation; or: 17.
Appears in 1 contract
Samples: Secured Loan Agreement (TORM PLC)
Application of moneys by Security Agent. The Borrower Borrowers and the Finance Parties irrevocably authorise the Security Agent or any Receiver or Delegate to apply all moneys which it receives and is entitled to receive:
17.11.1 17.10.1 pursuant to a sale or other disposition of the a Vessel or any right, title or interest in the a Vessel; or
17.11.2 17.10.2 by way of payment of any sum in respect of the Master Agreement Proceeds, any Intercompany Loan Agreement, the Insurances, Earnings, any Charter Rights or any Requisition Compensation; or
Appears in 1 contract
Samples: Secured Loan Facility Agreement (Diana Containerships Inc.)
