Facility Account. (a) Each of the Collateral Management Agent and the relevant Borrower shall have signing rights on a Facility Account. (b) All Loans utilised by a Borrower under Facility A and Facility B shall be paid by the Facility Agent to the relevant Facility Account. (c) The Borrower irrevocably authorises the Facility Agent to apply amounts credited to the Facility Account to meet the Borrower's payment obligations under Facility A and Facility B.
Appears in 3 contracts
Samples: Amendment and Restatement Agreement (Aegean Marine Petroleum Network Inc.), Amendment and Restatement Agreement (Aegean Marine Petroleum Network Inc.), Borrowing Base Facility Agreement (Aegean Marine Petroleum Network Inc.)
Facility Account. (a) Each of the Collateral Management Agent and the relevant Borrower shall have signing rights on a Facility Account.
(b) All Loans utilised by a Borrower under Facility A and Facility B shall be paid by the Facility Agent to the relevant Facility Account.
(c) The Borrower irrevocably authorises the Facility Agent to apply amounts credited to the Facility Account to meet the Borrower's payment obligations under Facility A and Facility B.A.
Appears in 1 contract
Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.)
