Common use of Earnings Account-Retention Account Clause in Contracts

Earnings Account-Retention Account. (a) The Borrower shall procure that all moneys payable in respect of the Earnings of the Vessel shall be paid to the Earnings Account free from Encumbrances. Unless and until an Event of Default shall occur (whereupon the provisions of Clause 11.3 shall be applicable) no monies shall be withdrawn from the Earnings Account save as hereinafter provided:

Earnings Account-Retention Account. (a) The Borrower and the Corporate Guarantor shall procure that all moneys payable in respect of the Earnings of the Vessel shall be paid to the Earnings Account free from Encumbrances. Unless and until an Event of Default shall occur (whereupon the provisions of Clause 11.3 shall be applicable) no monies shall be withdrawn from the Earnings Account save as hereinafter provided:

Earnings Account-Retention Account. (a) The Borrower shall procure that all moneys payable in respect of the Earnings of the Vessel shall be paid to the Earnings Account free from EncumbrancesEncumbrances and rights of set off other than those created by or under the Security Documents. Unless and until an Event of Default shall occur (whereupon the provisions of Clause 11.3 shall be applicable) and subject to the terms and conditions of the Accounts Pledge Agreement no monies shall be withdrawn from the Earnings Account save as hereinafter provided:

Earnings Account-Retention Account. (a) The Borrower and the Owners shall procure that all moneys payable in respect of the Earnings of the each Vessel shall be paid to the relevant Earnings Account free from Encumbrances. Unless and until an Event of Default shall occur (whereupon the provisions of Clause 11.3 shall be applicable) no monies shall be withdrawn from the Earnings Account Accounts save as hereinafter provided:

Earnings Account-Retention Account. (a) The Borrower Borrowers shall procure that all moneys payable in respect of the Earnings of the Vessel Vessels shall be paid to the Earnings Account Accounts free from EncumbrancesEncumbrances and rights of set off other than those created by or under the Security Documents. Unless and until an Event of Default shall occur (whereupon the provisions of Clause 11.3 shall be applicable) and subject to the terms and conditions of the Accounts Pledge Agreement no monies shall be withdrawn from the Earnings Account Accounts save as hereinafter provided:

Earnings Account-Retention Account. (a) The Borrower and the Owner shall procure that all moneys payable in respect of the Earnings of the Vessel shall be paid to the relevant Earnings Account free from Encumbrances. Unless and until an Event of Default shall occur (whereupon the provisions of Clause 11.3 shall be applicable) no monies shall be withdrawn from the Earnings Account save as hereinafter provided: