Common use of Debits for expenses etc Clause in Contracts

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 23 contracts

Samples: Loan Agreement, Loan Agreement (Global Ship Lease, Inc.), Agreement (Diana Shipping Inc.)

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Debits for expenses etc. The Agent shall be entitled authorised by the Borrower (but not obliged) from time to time to debit any the Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 17 contracts

Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 8 contracts

Samples: Loan Agreement (Navios Maritime Containers Inc.), Loan Agreement (GasLog Partners LP), Loan Agreement

Debits for expenses etc. The Upon the occurrence and during the continuance of an Event of Default, the Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account Accounts without prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 2122.

Appears in 6 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Operating Account without prior notice in order to discharge any amount due and payable under Clause 20 19.11 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 19.11 or 21.

Appears in 5 contracts

Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (Box Ships Inc.), Loan Agreement (Star Bulk Management Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account Accounts without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 4 contracts

Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings the Retention Account without with prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 2122.

Appears in 3 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 2122.

Appears in 2 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)

Debits for expenses etc. The Upon the occurrence and during the continuance of an Event of Default, the Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Accounts and/or the Retention Account without prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 2122.

Appears in 2 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 2122.

Appears in 2 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.21 and which remains unpaid for a period of up to 3 days. Borrower’s obligations unaffected The provisions of this Clause 18 do not affect:

Appears in 2 contracts

Samples: Loan Agreement (Product Shipping Ltd.), Loan Agreement (Product Shipping Ltd.)

Debits for expenses etc. The Following the occurrence of an Event of Default which is continuing the Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without prior notice in order to discharge any amount due and payable to it under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 2 contracts

Samples: Loan Agreement (Euronav NV), Agreement (Euronav NV)

Debits for expenses etc. The Following the occurrence of an Event of Default which is continuing and a direction from the Agent under Clause 18.1 above, the Agent shall be entitled (but not obliged) from time to time to debit any the Standby Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 2 contracts

Samples: Loan Agreement (TBS International PLC), Loan Agreement (TBS International PLC)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings the Operating Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 2 contracts

Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without with prior notice to the Borrower in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any a Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 2 contracts

Samples: Agreement (Euroseas Ltd.), Loan Agreement (EuroDry Ltd.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any either Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 2 contracts

Samples: Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Bulkers Inc.)

Debits for expenses etc. The Agent shall be entitled authorised by the Borrower (but not obliged) from time to time to debit any the Earnings Account or (in its discretion) the Cash Collateral Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 2 contracts

Samples: Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (Star Bulk Carriers Corp.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 2121 and which remains unpaid for a period of up to 3 days.

Appears in 2 contracts

Samples: Agreement, Loan Agreement (Product Shipping Ltd.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account Accounts without prior notice in order to discharge any amount due and payable under Clause 20 (Fees and Expenses) or 21 (Indemnities) to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 (Fees and Expenses) or 2121 (Indemnities).

Appears in 2 contracts

Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)

Debits for expenses etc. The Upon the occurrence and during the continuance of an Event of Default, the Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Accounts and/or the Freights Account without prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 2122.

Appears in 2 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Quartet Holdco Ltd.)

Debits for expenses etc. The Upon the occurrence of an Event of Default which is continuing, the Agent shall be entitled (but not obliged) from time to time to debit any Earnings Account without with prior or contemporaneous notice in order to discharge any amount due and payable under Clause 19 or 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 19 or 2120.

Appears in 1 contract

Samples: Loan Agreement (Euronav NV)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without with prior notice to the Borrower (other than at any time following an Event of Default which is continuing, in which case no such prior notice shall be required) in order to discharge any amount due and payable under Clause 20 (Fees and Expenses) or 21 (Indemnities) to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 (Fees and Expenses) or 2121 (Indemnities).

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without prior notice in order to discharge any amount due and payable under Clause Clauses 15, 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause Clauses 15, 20 or 21.. 19EVENTS OF DEFAULT

Appears in 1 contract

Samples: Loan Agreement

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without prior notice in order to discharge any amount due and payable under Clause Clauses 15, 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause Clauses 15, 20 or 21.

Appears in 1 contract

Samples: Amending and Restating Agreement (Golar LNG Partners LP)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 2121 and the Borrower hereby undertakes with each Creditor Party to authorise the Account Bank to act according to the Agent’s instructions pursuant to this Clause.

Appears in 1 contract

Samples: Loan Agreement (GasLog Ltd.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any either Earnings Account or either Retention Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Agreement (NewLead Holdings Ltd.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Operating Account or the Retention Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause or 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account Account, without prior notice following the occurrence of an Event of Default and otherwise with 5 Business Days prior notice, in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without Accounts with prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 21.22. 98 ‌

Appears in 1 contract

Samples: Loan Agreement (Dorian LPG Ltd.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account, the Additional Earnings Account or the New Earnings Accounts (or any of them) without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Supplemental Agreement (DryShips Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Account without prior notice in order to discharge any amount due and payable to a Creditor Party under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Agreement (DryShips Inc.)

Debits for expenses etc. The Agent shall be entitled authorised by the Borrower (but not obliged) from time to time to debit any the Earnings Account in respect of "AURORA" without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Carriers Corp.)

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Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account Accounts without prior notice in order to discharge any amount due and payable under Clause 20 0 or 21 0 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 0 or 21.0. Borrowers’ obligations unaffected The provisions of this Clause 0 (as distinct from a distribution effected under Clause 18.4) do not affect:

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Containers Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any theany Earnings Account without with prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21 and which has not been paid on its due date for payment under Clauses 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (Seacastle Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without with prior notice to the Borrower (other than at any time following an Event of Default which is continuing, in which case no such prior notice shall be required) in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.. 19 EVENTS OF DEFAULT

Appears in 1 contract

Samples: Loan Agreement (GasLog Partners LP)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without Accounts with prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 2122.

Appears in 1 contract

Samples: Loan Agreement (Dorian LPG Ltd.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Account without with prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21 and which has not been paid on its due date for payment under Clauses 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (Seacastle Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit the Borrower Earnings Account or any Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 2122.

Appears in 1 contract

Samples: Loan Agreement (Eagle Bulk Shipping Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without prior upon notice in order to discharge any amount due and payable under Clause 5, 7, 8, 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 5, 7, 8, 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without with prior notice to the Borower in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Debits for expenses etc. The Upon the occurrence and during the continuance of an Event of Default, the Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account and/or the Retention Account without prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 2122.

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Debits for expenses etc. The Agent shall be entitled authorised by the Borrower (but not obliged) from time to time to debit any the Earnings Account Accounts without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Agreement (Star Bulk Carriers Corp.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without Account(s) with prior notice to the Borrowers in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any a Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 ( Fees and expenses ) or 21.( Indemnities

Appears in 1 contract

Samples: Diana Shipping Inc.

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 0 ( Fees and expenses ) or 21.( Indemnities

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Account without or the Borrower Account (provided that prior written notice is given to the Borrower and the relevant Owner containing reasonable detail of the amounts to be so debited) in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.)

Debits for expenses etc. The Paying Agent shall be entitled (but not obliged) from time to time to debit any either Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 2122.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account Accounts, without prior notice following the occurrence of an Event of Default and otherwise with 5 Business Days prior notice, in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Dynagas LNG Partners LP

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any either Earnings Account or either Retention Account without prior notice in order to discharge any amount due and payable under Clause 20 25 or 21 26 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 25 or 2126.

Appears in 1 contract

Samples: Agreement (NewLead Holdings Ltd.)

Debits for expenses etc. The Upon the occurrence and during the continuance of an Event of Default, the Agent shall be entitled (but not obliged) from time to time to debit any the Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 21 or 21 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 21 or 2122.

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Debits for expenses etc. The Agent shall be entitled (but not obliged) from time to time to debit any the Retention Account or the Earnings Account without prior notice in order to discharge any amount due and payable to it under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

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