Common use of Application of Retention Account Clause in Contracts

Application of Retention Account. The Borrower shall procure that there is transferred from the Retention Account and irrevocably authorises the Agent to instruct the Account Holder to transfer from the Retention Account to the Agent on behalf of the Banks:- 11.5.1 on each Repayment Date, the amount of the Repayment Instalment then due in respect of each Tranche; and 11.5.2 on each Interest Payment Date, the amount of interest then due in respect of each Tranche.

Application of Retention Account. The Borrower shall procure that there is transferred from the Retention Account and irrevocably authorises the Agent to instruct the Account Holder to transfer from the Retention Account to the Agent on behalf of the Banks:-Agent: 11.5.1 17.5.1 on each Repayment Date, the amount of the Repayment Instalment then due in respect of each Tranchedue; and 11.5.2 17.5.2 on each Interest Payment Date, the amount of interest then due in respect of each Trancheand the Borrower irrevocably authorises the Agent to instruct the Account Holder to make those transfers.

Application of Retention Account. The Borrower shall procure that there is transferred from the Retention Account (and irrevocably authorises authorise the Agent to instruct the Account Holder to transfer from the Retention Account Account) to the Agent on behalf of the Banks:- 11.5.1 12.5.1 on each Repayment Date, the amount of the Repayment Instalment then due in respect of each Tranchedue; and 11.5.2 12.5.2 on each Interest Payment Date, the amount of interest then due in respect of each Tranchedue.

Application of Retention Account. The Borrower Borrowers shall procure that there is transferred from the Retention Account and irrevocably authorises the Agent to instruct the Account Holder to transfer from the Retention Account to the Agent Agent: 10.6.1 any amounts due to the Lenders under the Finance Documents, other than principal and interest on behalf of the Banks:-relevant Tranche, on the date when such amounts are due; 11.5.1 10.6.2 on each Repayment Date, Date in respect of the relevant Tranche the amount of the Repayment Instalment then due in respect of each Tranchedue; and 11.5.2 10.6.3 on each Interest Payment Date, Date in respect of the relevant Tranche the amount of interest then due in respect of each Tranchedue, and the Borrowers irrevocably authorise the Agent to make those transfers.

Application of Retention Account. The Borrower Borrowers shall procure that there is transferred from the Retention Account and irrevocably authorises the Agent to instruct the Account Holder to transfer from the Retention Account to the Agent on behalf of the Banks:-Agent: 11.5.1 10.7.1 on each Repayment Date, the amount of the Repayment Instalment Installment then due in respect of each Tranchedue; and 11.5.2 10.7.2 on each Interest Payment Date, the amount of interest then due in respect of each Tranchedue, and the Borrowers irrevocably authorises the Agent to instruct the Account Holder to make those transfers.

Application of Retention Account. The Borrower Borrowers shall procure that there is transferred from the Retention Account (and irrevocably authorises authorise the Agent to instruct the Account Holder to transfer from the Retention Account Account) to the Agent on behalf of the Banks:- 11.5.1 12.5.1 on each Repayment Date, the amount of the Repayment Instalment then due in respect of each Tranchedue; and 11.5.2 12.5.2 on each Interest Payment Date, the amount of interest then due in respect of each Tranchedue.

Application of Retention Account. The Borrower shall procure that there is transferred from the Retention Account and irrevocably authorises the Agent to instruct the Account Holder to transfer from the Retention Account to the Agent on behalf of the Banks:-Agent: 11.5.1 10.6.1 on each Repayment Date, the amount of the Repayment Instalment then due in respect of each Tranchedue; and 11.5.2 10.6.2 on each Interest Payment Date, the amount of interest then due in respect of each Tranchedue, and the Borrower irrevocably authorises the Agent to instruct the Account Holder to make those transfers.