Common use of Earnings Accounts Clause in Contracts

Earnings Accounts. The Borrower shall procure that the Collateral Owners maintain the Earnings Accounts with the Account Holders 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 2 contracts

Samples: www.lw.com, Teekay Offshore Partners L.P.

AutoNDA by SimpleDocs

Earnings Accounts. The Borrower Borrowers shall procure that the Collateral Owners maintain the Earnings Accounts with the Account Holders 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 2 contracts

Samples: Management Agreement (Diana Shipping Inc.), Diana Shipping Inc.

AutoNDA by SimpleDocs

Earnings Accounts. The Borrower Borrowers shall procure that the Collateral Owners shall maintain the Earnings Accounts with the Account Holders 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 DocumentsDocuments and the applicable Collateral Loan Agreement.

Appears in 1 contract

Samples: DryShips Inc.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!