Earnings Accounts. The Borrowers shall open and maintain all its Earnings Accounts with the Account Bank, ensure that all Earnings are paid to the Earnings Accounts, and that the Earnings Accounts remain subject to the Account Pledge(s). The Borrowers may freely operate and make withdrawals from the Earnings Accounts until the occurrence of an Event of Default which is continuing.
Appears in 3 contracts
Samples: Facilities Agreement (Flex LNG Ltd.), Facilities Agreement (Flex LNG Ltd.), Term Loan Facility (Flex LNG Ltd.)
Earnings Accounts. The Borrowers Borrower shall open and maintain all its Earnings Accounts with the Account Bank, ensure that all Earnings are paid to the Earnings Accounts, and that the Earnings Accounts remain subject to the Account Pledge(s). The Borrowers Borrower may freely operate and make withdrawals from the Earnings Accounts until the occurrence of an Event of Default which is continuing.
Appears in 2 contracts
Samples: Facility Agreement (Flex LNG Ltd.), Facilities Agreement (Flex LNG Ltd.)
Earnings Accounts. The Borrowers shall open and maintain all its Earnings Accounts with the Account Bank, ensure that all Earnings are paid to the Earnings Accounts, and that the Earnings Accounts remain subject to the Account Pledge(s)relevant Security Agreement. The Borrowers may freely operate and make withdrawals from the Earnings Accounts until the occurrence of an Event of Default which is continuing.
Appears in 1 contract
Samples: Facility Agreement (Flex LNG Ltd.)
