Location of accounts. The Borrower shall promptly: (a) comply, and procure that the Guarantors s comply, with any requirement of the Agent as to the location or re-location of the Earnings Accounts, the Retention Account or any of them, provided that those accounts must at all times be with the Account Bank; and (b) execute, and procure that the Guarantors execute, any documents which the Agent specifies to create or maintain in favour of the Security Trustee a Security Interest over the Earnings Accounts and the Retention Account.
Appears in 2 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Location of accounts. The Borrower and each of the Guarantors, as the case may be, shall promptly:
(a) comply, and procure that the Guarantors s comply, comply with any reasonable requirement of the Agent as to the location or re-location of the Earnings Accounts, the Retention Account or any of them, provided that those accounts must at all times be with the Account Bank; and
(b) execute, and procure that the Guarantors execute, execute any documents which the Agent specifies to create or maintain in favour favor of the Security Trustee a Security Interest over (and/or rights of set-off, consolidation or other rights in relation to) the Earnings Accounts and the Retention AccountAccounts.
Appears in 2 contracts
Samples: Loan Agreement (Dorian LPG Ltd.), Loan Agreement (Dorian LPG Ltd.)
Location of accounts. The Borrower and each of the Guarantors shall promptly:
(a) comply, and procure that the Guarantors s comply, comply with any requirement of the Agent as to the location or re-location of the each Earnings Accounts, the Retention Account or any of them, provided that those accounts must at all times be with the Account BankAccount; and
(b) execute, and procure that the Guarantors execute, execute an Earnings Account Pledge with respect to each Earnings Account and/or any other documents which the Agent specifies to create or maintain in favour favor of the Security Trustee a Security Interest over (and/or rights of set-off, consolidation or other rights in relation to) any of the Earnings Accounts and the Retention AccountAccounts.
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