Distributions to a Security Party The Agent may (with the consent of a Security Party or in accordance. with Clause 30 (Set-Off)) apply any amount received by it for that Security Party in or towards payment (on the date and in the currency and funds of receipt) of any amount due from that Security Party under the Finance Documents or in or towards purchase of any amount of any currency to be so applied.
Appears in 3 contracts
Samples: Second Supplemental Agreement to a Secured Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Bulkers Inc.), Secured Loan Agreement (Scorpio Tankers Inc.)
Distributions to a Security Party The Agent may (with the consent of a Security Party or in accordance. with Clause 30 29 (Set-Off)) apply any amount received by it for that Security Party in or towards payment (on the date and in the currency and funds of receipt) of any amount due from that Security Party under the Finance Documents or in or towards purchase of any amount of any currency to be so applied.
Appears in 1 contract
Samples: Secured Loan Agreement (Genco Shipping & Trading LTD)
