Common use of Earnings Account Clause in Contracts

Earnings Account. The Borrower shall maintain the Earnings Account with the Account Holder for the duration of the Facility Period free of Encumbrances and rights of set off other than those created by or under the Finance Documents.

Appears in 3 contracts

Samples: Secured Revolving Credit Facility Agreement (Teekay Corp), Secured Loan Agreement (Teekay LNG Partners L.P.), Secured Loan Agreement (Teekay LNG Partners L.P.)

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Earnings Account. The Borrower shall maintain the Earnings Account with the Account Holder Lender for the duration of the Facility Period free of Encumbrances and rights of set off other than those created by or under the Finance Documents.

Appears in 1 contract

Samples: Secured Loan Agreement (Paragon Shipping Inc.)

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