Common use of Monthly retentions Clause in Contracts

Monthly retentions. The Borrowers undertake with the Lender to ensure that, on the date falling one month after the date on which the final Drawdown Notice is served and on the same day in each subsequent month throughout the Security Period, there is transferred to the Retention Account out of the Earnings received in the Earnings Account during the preceding month: (a) one-third of the amount of the repayment instalment falling due under Clause 7 on the next Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest under this Agreement. The "RELEVANT FRACTION" is a fraction of which the numerator is 1 and the denominator the number of months comprised in the then current Interest Period (or, if the period is shorter, the number of months from the later of the commencement of the current Interest Period or the last due date for payment of interest to the next due date for payment of interest under this Agreement).

Monthly retentions. The Borrowers undertake Borrower undertakes with the Lender to ensure that, on in each calendar month of the date falling one month Security Period after the date on which the final Drawdown Notice is served and served, on such dates as the same day in each subsequent month throughout the Security PeriodLender may from time to time specify, there is transferred to the Retention Account out of the Earnings received in the Earnings Operating Account during the preceding calendar month: (a) one-third sixth of the amount of the repayment instalment falling due under Clause 7 on the next Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest under this Agreement. The "RELEVANT FRACTIONrelevant fraction" is a fraction of which the numerator is 1 one and the denominator the number of months comprised in the then current Interest Period (or, if the period is shortercurrent Interest Period ends after the next date for payment of interest under this Agreement, the number of months from the later of the commencement of the current Interest Period or and the last due date for payment of interest to the next due date for payment of interest under this Agreement).

Monthly retentions. The Borrowers undertake Borrower undertakes with the Lender each Creditor Party to ensure that, on in each calendar month of the date falling Security Period commencing one month after the date Drawdown Date, on which such dates as the final Drawdown Notice is served and on the same day in each subsequent month throughout the Security PeriodAgent may from time to time specify, there is transferred to the Retention Account out of the Earnings received in the Earnings Account during the preceding calendar month: (a) one-third one‑third of the amount of the repayment instalment falling due under Clause 7 8 on the next Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest under this Agreement. The "RELEVANT FRACTION" “relevant fraction” is a fraction of which the numerator is 1 and the denominator the number of months comprised in the then current Interest Period (or, if the period is shorter, the number of months from the later of the commencement of the current Interest Period or the last due date for payment of interest to the next due date for payment of interest under this Agreement).

Monthly retentions. The Borrowers undertake Borrower undertakes with the Lender to ensure that, in each calendar month of the Security Period commencing on the date falling one 1 month after the date on which Drawdown Date of the final Drawdown Notice is served first Advance and thereafter on the same day in of each subsequent month throughout the Security Periodmonth, there is transferred to the Retention Account out of the Earnings received in the Earnings Account Earning Accounts during the preceding calendar month: (a) one-third of the amount of the repayment instalment Repayment Instalment falling due under Clause 7 on the next Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest under this Agreement. The "RELEVANT FRACTION" “relevant fraction” is a fraction of which the numerator is 1 and the denominator the number of months comprised in the then current Interest Period (or, if the period is shorter, the number of months from the later of the commencement of the current Interest Period or the last due date for payment of interest to the next due date for payment of interest under this Agreement).

Monthly retentions. The Borrowers undertake with the Lender to ensure that, on in each calendar month of the date falling Security Period commencing one month after the date Drawdown Date, on which such dates as the final Drawdown Notice is served and on the same day in each subsequent month throughout the Security PeriodLenders may from time totime specify, there is transferred to the Retention Account out of the aggregate Earnings received in the Earnings Account Operating Account(s) during the preceding calendar month: (a) one-third one‑third of the amount of the repayment instalment falling due under Clause 7 8 on the next Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest under this Agreement. The "RELEVANT FRACTION" “relevant fraction” is a fraction of which the numerator is 1 and the denominator the number of months comprised in the then current Interest Period (or, if the period is shorter, the number of months from the later of the commencement of the current Interest Period or the last due date for payment of interest to the next due date for payment of interest under this Agreement).

Monthly retentions. The Borrowers undertake Borrower undertakes with the Lender to ensure that, in each calendar month of the Security Period commencing on the date falling one 1 month after the date on which the final Drawdown Notice is served Date and thereafter on the same day in of each subsequent month throughout the Security Periodmonth, there is transferred to the Retention Account out of the Earnings received in the Earnings Account during the preceding calendar month: (a) one-third of the amount of the repayment instalment falling due under Clause 7 on the next Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest under this Agreement. The "RELEVANT FRACTION" “relevant fraction” is a fraction of which the numerator is 1 and the denominator the number of months comprised in the then current Interest Period (or, if the period is shorter, the number of months from the later of the commencement of the current Interest Period or the last due date for payment of interest to the next due date for payment of interest under this Agreement).

Monthly retentions. The Borrowers undertake Borrower undertakes with the Lender to ensure that, on in each calendar month of the date falling Security Period commencing one month after the date Drawdown Date, on which such dates as the final Drawdown Notice is served and on the same day in each subsequent month throughout the Security PeriodLenders may from time to time specify, there is transferred to the Retention Account out of the Earnings received in the Earnings Account during the preceding calendar month: (a) one-third one‑third of the amount of the repayment instalment falling due under Clause 7 8 on the next Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest under this Agreement. The "RELEVANT FRACTIONrelevant fraction" is a fraction of which the numerator is 1 and the denominator the number of months comprised in the then current Interest Period (or, if the period is shorter, the number of months from the later of the commencement of the current Interest Period or the last due date for payment of interest to the next due date for payment of interest under this Agreement).

Monthly retentions. The Borrowers undertake Borrower undertakes with the Lender to ensure that, in each calendar month of the Security Period commencing on the date falling one 1 month after the date on which the final Drawdown Notice is served Date and thereafter on the same day in of each subsequent month throughout the Security Periodmonth, there is transferred to the Retention Account out of the Earnings received in the Earnings Account Earning Accounts during the preceding calendar month: (a) one-third of the amount of the repayment instalment Repayment Instalment falling due under Clause 7 on the next Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest under this Agreement. The "RELEVANT FRACTIONrelevant fraction" is a fraction of which the numerator is 1 and the denominator the number of months comprised in the then current Interest Period (or, if the period is shorter, the number of months from the later of the commencement of the current Interest Period or the last due date for payment of interest to the next due date for payment of interest under this Agreement).

Monthly retentions. The Borrowers undertake Borrower undertakes with the Lender to ensure that, on in each calendar month of the date falling one month Security Period after the date on which the final Drawdown Notice is served and served, on such dates as the same day in each subsequent month throughout the Security PeriodLender may from time to time specify, there is transferred to the Retention Account out of the Earnings received in the Earnings Operating Account during the preceding calendar month: (a) one-third sixth of the amount of the repayment instalment falling due under Clause 7 on the next Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest under this Agreement. The "RELEVANT FRACTION" is a fraction of which the numerator is 1 one and the denominator the number of months comprised in the then current Interest Period (or, if the period is shortercurrent Interest Period ends after the next date for payment of interest under this Agreement, the number of months from the later of the commencement of the current Interest Period or and the last due date for payment of interest to the next due date for payment of interest under this Agreement).

Monthly retentions. The Borrowers undertake Borrower undertakes with the Lender each Creditor Party to ensure that, in each calendar month of the Security Period commencing on the date falling one 1 month after the date on which the final Drawdown Notice is served Date and on the same day in each subsequent month throughout the Security Periodmonth, there is transferred to the Retention Account out of the aggregate Earnings received in the Earnings Account Accounts during the preceding calendar month: (a) one-third of the amount of the repayment instalment Repayment Instalment falling due under Clause 7 8.1 on the next Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest under this Agreement. The "RELEVANT FRACTIONrelevant fraction" in relation to paragraph (b), is a fraction of which the numerator is 1 and the denominator the number of months comprised in the then current Interest Period applicable to the Loan (or, if the period is shortercurrent Interest Period ends after the next date for payment of interest under this Agreement, the number of months from the later of the commencement of the current Interest Period or the last due date for payment of interest to the next due date for payment of interest under this Agreement).