Common use of Monthly retentions Clause in Contracts

Monthly retentions. The Borrower undertakes with the Lender to ensure that, on the day falling 1 month after the Drawdown Date of the Sixth Advance and on the same day in each subsequent month, there is transferred to the Retention Account out of the aggregate Earnings received in the Earnings Account during the preceding calendar month: (a) one-third of the amount of each repayment instalment falling due under Clause 7.1(a) 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 Borrower undertakes with the Lender to ensure that, throughout the Security Period commencing on the day date falling 1 one month after the Drawdown Date of the Sixth Advance and on the same day in each subsequent month, there is transferred to the Retention Account out of the aggregate Earnings received in the Earnings Account during the preceding calendar month: (a) one-third sixth of the amount Original Dollar Amount of each the repayment instalment falling due under Clause 7.1(a) 8 on the next Repayment Date; and (b) the relevant fraction of the aggregate amount Original Dollar 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 Borrower undertakes with the Lender to ensure that, in each calendar month of the Security Period commencing on the day date falling 1 month after the each Drawdown Date of the Sixth Advance and thereafter on the same day in of each subsequent month, there is transferred to the Retention Account out of the aggregate Earnings received in the Earnings Account Earning Accounts during the preceding calendar month: (a) one-third of the amount of each the repayment instalment in respect of each Advance falling due under Clause 7.1(a) 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 Borrower undertakes with the Lender to ensure that, throughout the Security Period commencing on the day date falling 1 month after the Drawdown Date of the Sixth Advance and on the same day in each subsequent month, there is transferred to the Retention Account out of the aggregate Earnings received in the Earnings Account during the preceding calendar month: (a) one-third sixth of the amount of each the repayment instalment falling due under Clause 7.1(a) 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 Borrower undertakes with the Lender each Creditor Party to ensure that, on the day falling 1 in each calendar month after the Drawdown Date of the Sixth Advance and Security Period on such dates as the same day in each subsequent monthAgent may from time to time specify, there is transferred to the Retention Account out of the aggregate Earnings received in the Earnings Account Operating Accounts during the preceding calendar month: (a) one-third of the amount of each the repayment instalment falling due under Clause 7.1(a) 8 on the next Term Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Term Loan and the Revolving Credit Facility 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 Borrower undertakes Borrowers undertake with the Lender each Creditor Party to ensure that, on in each calendar month of the day falling 1 Security Period commencing one month after a Drawdown Date, on such dates as the Drawdown Date of the Sixth Advance and on the same day in each subsequent monthAgent may from time to time specify, there is transferred to the Retention Account out of the aggregate Earnings received in the Earnings Account Account(s) during the preceding calendar month: (a) one-third one‑third of the amount of each the repayment instalment falling due under Clause 7.1(a) 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” 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 Borrower undertakes Borrowers undertake with the Lender to ensure that, throughout the Security Period commencing on the day date falling 1 one month after the Drawdown Date of the Sixth Advance and on the same day in each subsequent month, 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 each the repayment instalment falling due under Clause 7.1(a7.1 (a) 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).