Common use of Debits for expenses etc Clause in Contracts

Debits for expenses etc. The Facility Agent shall be entitled (but not obliged) from time to time to debit the Earnings Account, with no later than 10 Business Days prior notice to the Borrower, in order to discharge any amount due and payable under Clause 19.11, 20.1 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under these Clauses.

Appears in 2 contracts

Samples: Loan Agreement (Capital Product Partners L.P.), Loan Agreement

AutoNDA by SimpleDocs

Debits for expenses etc. The Facility Agent shall be entitled (but not obliged) from time to time to debit the Earnings any Operating Account, with no later than 10 Business Days prior notice to the BorrowerBorrowers, in order to discharge any amount due and payable under Clause 19.1119.2, 20.1 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under these Clauses.

Appears in 1 contract

Samples: Loan Agreement (Capital Product Partners L.P.)

AutoNDA by SimpleDocs

Debits for expenses etc. The Facility Agent shall be entitled (but not obliged) from time to time to debit the any Earnings Account, with no later than 10 Business Days prior notice to the BorrowerBorrowers, in order to discharge any amount due and payable under Clause 19.11, 20.1 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under these Clauses.

Appears in 1 contract

Samples: Loan Agreement (Capital Product Partners L.P.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!