Common use of Investment of Proceeds Clause in Contracts

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 32.5 (Application of receipts; partial payments) the Security Trustee may, in its discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee with such financial institution (including itself) and for so long as the Security Trustee shall think fit (the interest being credited to the relevant account) pending the payment from time to time of those moneys in the Security Trustee’s discretion in accordance with the provisions of this Clause 29.6 (Investment of proceeds).

Appears in 2 contracts

Samples: Credit Agreement (DHT Holdings, Inc.), Credit Agreement (DHT Holdings, Inc.)

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Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 32.5 38.5 (Application of receipts; partial payments) the Security Trustee Agent may, in its discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee Agent with such financial institution (including itself) and for so long as the Security Trustee Agent shall think fit (the interest being credited to the relevant account) pending the payment from time to time of those moneys in the Security Trustee’s Agent's discretion in accordance with the provisions of this Clause 29.6 34.9 (Investment of proceeds).

Appears in 1 contract

Samples: Term Loan Facility (Ardmore Shipping Corp)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 32.5 38.5 (Application of receipts; partial payments) the Security Trustee Agent may, in its discretion, hold all or part of those proceeds in an interest bearing (if applicable) suspense or impersonal account(s) in the name of the Security Trustee with such financial institution (including itself) and for so long as the Security Trustee Agent shall think fit (the interest (if any) being credited to the relevant account) pending the payment from time to time of those moneys in the Security Trustee’s Agent's discretion in accordance with the provisions of this Clause 29.6 35.7 (Investment of proceeds).

Appears in 1 contract

Samples: Term, Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 32.5 39.5 (Application of receipts; partial payments) the Security Trustee Agent may, in its discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee Agent with such financial institution (including itself) and for so long as the Security Trustee Agent shall think fit (the interest being credited to the relevant account) pending the payment from time to time of those moneys in the Security TrusteeAgent’s discretion in accordance with the provisions of this Clause 29.6 35.7 (Investment of proceeds).

Appears in 1 contract

Samples: Loan Agreement (Ardmore Shipping Corp)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries recoveries to the Facility Agent for application in accordance with Clause 32.5 19 (Application of receipts; partial paymentsSums Received) the Security Trustee may, in its discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee with such financial institution (including itself) and for so long as the Security Trustee shall think fit (the interest being credited to the relevant account) pending the payment from time to time of those moneys in the Security Trustee’s discretion in accordance with the provisions of this Clause 29.6 26.7 (Investment of proceeds).

Appears in 1 contract

Samples: Loan Agreement (Prestige Cruises International, Inc.)

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Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries recoveries to the Facility Agent for application in accordance with Clause 32.5 19 (Application of receipts; partial paymentsSums Received) the Security Trustee may, in its discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee with such financial institution (including itself) and for so long as the Security Trustee shall think fit (the interest being credited to the relevant account) pending the payment from time to time of those moneys in the Security Trustee’s 's discretion in accordance with the provisions of this Clause 29.6 26.7 (Investment of proceeds).

Appears in 1 contract

Samples: Loan Agreement (Seven Seas Cruises S. DE R.L.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 32.5 38.5 (Application of receipts; partial payments) the Security Trustee Agent may, in its discretion, hold all or part of those proceeds in an interest bearing (if applicable) suspense or impersonal account(s) in the name of the Security Trustee with such financial institution (including itself) and for so long as the Security Trustee Agent shall think fit (the interest (if any) being credited to the relevant account) pending the payment from time to time of those moneys in the Security TrusteeAgent’s discretion in accordance with the provisions of this Clause 29.6 35.7 (Investment of proceeds).

Appears in 1 contract

Samples: Term and Accordion Facilities Agreement (Ardmore Shipping Corp)

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