Application of Operating Account. The Borrower shall procure that there is transferred from the Operating Account to the Lender: 11.4.1 on the due date for repayment of each Drawing, the amount of that Drawing; and 11.4.2 on each Interest Payment Date in respect of a Drawing, the amount of interest due in respect of that Drawing, and the Borrower irrevocably authorises the Lender to make those transfers.
Appears in 5 contracts
Samples: Secured Multi Currency Reducing Revolving Credit Facility Agreement (Safe Bulkers, Inc.), Credit Facility Agreement (Safe Bulkers, Inc.), Credit Facility Agreement (Safe Bulkers, Inc.)
Application of Operating Account. The Borrower shall procure that there is transferred from the Operating Account to the Lender:
11.4.1 on the due date for repayment of each Drawing, the amount of that Drawing; and
11.4.2 on each Interest interest Payment Date in respect of a Drawing, the amount of interest due in respect of that Drawing, and the Borrower irrevocably authorises the Lender to make those transfers.
Appears in 1 contract
Samples: Secured Multi Currency Reducing Revolving Credit Facility Agreement (Safe Bulkers, Inc.)
