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 30.28 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s discretion in accordance with the provisions of Clause 30.28 (Application of receipts).

Appears in 3 contracts

Samples: Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.), Term Loan Facility (Navios Maritime Partners L.P.)

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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 30.28 32.28 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of Clause 30.28 32.28 (Application of receipts).

Appears in 3 contracts

Samples: Term Loan Facility (United Maritime Corp), Facility Agreement (Okeanis Eco Tankers Corp.), Facility Agreement (Okeanis Eco Tankers Corp.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 29.28 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s discretion in accordance with the provisions of Clause 30.28 29.28 (Application of receipts).

Appears in 3 contracts

Samples: Facility Agreement (Navios Maritime Partners L.P.), Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 36.5 (Application of receipts; partial payments) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s discretion in accordance with the provisions of this Clause 30.28 33.7 (Application Investment of receiptsproceeds).

Appears in 3 contracts

Samples: Term Loan Facility (Ardmore Shipping Corp), Term Loan Facility (Dorian LPG Ltd.), Term Loan Facility (Dorian LPG Ltd.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 ‎30.28 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of Clause 30.28 ‎30.28 (Application of receipts).

Appears in 2 contracts

Samples: Facility Agreement (United Maritime Corp), Term Loan Facility (Seanergy Maritime Holdings Corp.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of Clause 30.28 (Application of receipts).

Appears in 1 contract

Samples: Facility Agreement (Taylor Maritime Investments LTD)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 33.5 (Application of receipts; partial payments) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s discretion in accordance with the provisions of this Clause 30.28 (Application Investment of receiptsproceeds).

Appears in 1 contract

Samples: Facility Agreement (Scorpio Tankers Inc.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 33.28 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of Clause 30.28 33.28 (Application of receipts).

Appears in 1 contract

Samples: Term Loan Facility (Okeanis Eco Tankers Corp.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 34.5 (Application of receipts; partial payments) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s discretion in accordance with the provisions of this Clause 30.28 31.30 (Application Investment of receiptsproceeds).

Appears in 1 contract

Samples: Facility Agreement (Grindrod Shipping Holdings Pte. Ltd.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 34.5 (Application of receipts; partial payments) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of this Clause 30.28 31.7 (Application Investment of receiptsproceeds).

Appears in 1 contract

Samples: Term Loan Facility (Star Bulk Carriers Corp.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 35.5 (Application of receipts; partial payments) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of this Clause 30.28 31.29 (Application Investment of receiptsproceeds).

Appears in 1 contract

Samples: Addendum to First Preferred Marshall Islands Mortgage (Ocean Rig UDW Inc.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 35.5 (Application of receipts; partial payments) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s discretion in accordance with the provisions of this Clause 30.28 32.30 (Application Investment of receiptsproceeds).

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Holdings Inc.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 31.27 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s discretion in accordance with the provisions of Clause 30.28 31.27 (Application of receipts).

Appears in 1 contract

Samples: Term Loan Facility Agreement (Castor Maritime Inc.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 32.28 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s discretion in accordance with the provisions of Clause 30.28 32.28 (Application of receipts).

Appears in 1 contract

Samples: Facility Agreement (United Maritime Corp)

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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 30.28 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s discretion in accordance with the provisions of Clause 30.28 (Application of receipts).

Appears in 1 contract

Samples: Term Loan Facility (Okeanis Eco Tankers Corp.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 31.28 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s discretion in accordance with the provisions of Clause 30.28 31.28 (Application of receipts).

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Partners L.P.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 28.5 (Application of receipts; partial payments) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of this Clause 30.28 25.7 (Application Investment of receiptsproceeds).

Appears in 1 contract

Samples: Term Loan Facility (DryShips Inc.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 36.5 (Application of receipts; partial payments) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of this Clause 30.28 33.7 (Application Investment of receiptsproceeds).

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 30.28 31.27 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of Clause 30.28 31.27 (Application of receipts).

Appears in 1 contract

Samples: Facility Agreement (Global Ship Lease, Inc.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 29.27 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of Clause 30.28 29.27 (Application of receipts).

Appears in 1 contract

Samples: Term Loan Facility (Navios South American Logistics Inc.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 34.5 (Application of receipts; partial payments) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of this Clause 30.28 31.30 (Application Investment of receiptsproceeds).

Appears in 1 contract

Samples: Term Loan Facility (Grindrod Shipping Holdings Ltd.)

Investment of Proceeds. Prior to the payment of the proceeds of the Recoveries to the Facility Agent for application in accordance with Clause 30.28 30.27 (Application of receipts) the Security 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 Agent with such financial institution (including itself) and for so long as the Security 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 Agent’s 's discretion in accordance with the provisions of Clause 30.28 30.27 (Application of receipts).

Appears in 1 contract

Samples: Facility Agreement (Euroseas Ltd.)

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