Common use of Charging of Operating Accounts Clause in Contracts

Charging of Operating Accounts. Each Borrower with full title guarantee hereby charges and agrees to charge, by way of first fixed charge and releases and agrees to release to the Bank, as a continuing security for the payment of the Loan, interest thereon and all other moneys from time to time owing under this Agreement, the Master Swap Agreement and the other Security Documents (for the purposes of this clause 14.6, the “Outstanding Indebtedness”), such Borrower’s Operating Account and all moneys from time to time standing to the credit of such Operating Account, including any interest from time to time accrued and accruing thereon (whether or not credited thereto) and no Borrower shall be entitled to withdraw any such monies from its Operating Account otherwise than in accordance with this clause 14 until such time as the Outstanding Indebtedness has been conclusively certified by the Bank to have been repaid in full.

Appears in 3 contracts

Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

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Charging of Operating Accounts. Each Borrower with full title guarantee hereby charges and agrees to charge, by way of first fixed charge and releases and agrees to release to the Bank, as a continuing security for the payment of the Loan, interest thereon and all other moneys from time to time owing under this Agreement, the Master Swap Agreement and the other Security Documents (for the purposes of this clause 14.6, the "Outstanding Indebtedness"), such Borrower’s 's Operating Account and all moneys from time to time standing to the credit of such Operating Account, including any interest from time to time accrued and accruing thereon (whether or not credited thereto) and no Borrower shall be entitled to withdraw any such monies from its Operating Account otherwise than in accordance with this clause 14 until such time as the Outstanding Indebtedness has been conclusively certified by the Bank to have been repaid in full.

Appears in 2 contracts

Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.), Eighth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

Charging of Operating Accounts. Each Borrower with full title guarantee hereby charges and agrees to charge, by way of first fixed charge and releases and agrees to the release to the Bank, as a continuing security for the payment of the Loan, interest thereon and all other moneys from time to time owing under this Agreement, the Master Swap Agreement and the other Security Documents (for the purposes of this clause 14.6, the “Outstanding Indebtedness”), such Borrower’s Operating Account and all moneys from time to time standing to the credit of such Operating Account, including any interest from time to time accrued and accruing thereon (whether or not credited thereto) and no Borrower shall be entitled to withdraw any such monies from its Operating Account otherwise than in accordance with this clause 14 until such time as the Outstanding Indebtedness has been conclusively certified by the Bank to have been repaid in full.

Appears in 1 contract

Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.)

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Charging of Operating Accounts. Each Borrower Borrower, with full title guarantee guarantee, hereby charges and agrees to charge, by way of first fixed charge and releases and agrees to release to the Bank, as a continuing security for the payment of the Loan, interest thereon and all other moneys from time to time owing under this Agreement, the Master Swap Agreement and the other Security Documents (for the purposes of this clause 14.610, the "Outstanding Indebtedness"), such Borrower’s 's Operating Account and all moneys from time to time standing to the credit of such Operating Account, including any interest from time to time accrued and accruing thereon (whether or not credited thereto) and no Borrower shall be entitled to withdraw any such monies from its Operating Account otherwise than in accordance with this clause 14 10 until such time as the Outstanding Indebtedness has been conclusively certified by the Bank to have been repaid in full.

Appears in 1 contract

Samples: Eighth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

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