Common use of Earnings Accounts Clause in Contracts

Earnings Accounts. withdrawals Unless the Agent otherwise agrees in writing, neither the Borrower nor the Owners shall be entitled to withdraw any moneys from the Earnings Accounts at any time during the Security Period save that, unless and until a Default shall occur and the Agent shall direct to the contrary, the Borrower and each of the Owners may, subject to clause 14.2.1, withdraw moneys from the Earnings Accounts:

Appears in 3 contracts

Samples: Facilities Agreement (Aries Maritime Transport LTD), Facilities Agreement (Omega Navigation Enterprises, Inc.), Agreement (Omega Navigation Enterprises, Inc.)

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Earnings Accounts. withdrawals Unless the Agent (acting on the instructions of the Banks) otherwise agrees in writing, neither the Borrower nor the Owners shall be entitled to withdraw ensure that no Owner withdraws any moneys from the its Earnings Accounts Account at any time during the Security Facility Period save except that, unless and until a Default shall occur and the Agent (acting on the instructions of the Banks) shall direct to the contrary, the Borrower and each of the Owners may, subject to clause 14.2.1, Owner may withdraw moneys from its Earnings Account for the Earnings Accountsfollowing purposes:

Appears in 2 contracts

Samples: Loan Agreement (StealthGas Inc.), Loan Agreement (StealthGas Inc.)

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Earnings Accounts. withdrawals Unless the Agent Majority Banks otherwise agrees agree in writing, neither the Borrower nor the Owners shall be entitled to withdraw any moneys from the Earnings Accounts at any time during the Security Period save that, unless and until a Default shall occur and the Agent shall direct to the contrary, the Borrower and each of the Owners may, subject to clause 14.2.114.2, withdraw moneys from the Earnings Accounts:

Appears in 1 contract

Samples: Agreement (Aries Maritime Transport LTD)

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