Common use of Earnings Account Clause in Contracts

Earnings Account. (a) The Charterers shall, and shall procure the Approved Manager to, ensure that all the earnings of the Vessel shall forthwith upon receipt be deposited into the Earnings Account. (b) Withdrawals may be made from the Earnings Account provided that no Termination Event has occurred and is continuing.

Appears in 4 contracts

Samples: Bareboat Charter (DryShips Inc.), Bareboat Charter (DryShips Inc.), Bareboat Charter (DryShips Inc.)

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Earnings Account. (a) The Charterers shall, and shall procure the Approved Manager to, ensure that all the earnings of the Vessel shall forthwith upon receipt be deposited into the Earnings Account. . (b) Withdrawals may be made from the Earnings Account provided that no Termination Event has occurred and is continuing.

Appears in 1 contract

Samples: Bareboat Charter (DryShips Inc.)

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