Payment of Earnings and Swap Payments. Each Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period (and subject only to the provisions of the General Assignment applicable to its Ship), all the Earnings of the Ship owned by it are paid to the Earnings Account of that Borrower.
Payment of Earnings and Swap Payments. Each Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period (and subject only to the provisions of the General Assignment to which it is a party):
(a) all Earnings of the Ship owned by it are paid to the Earnings Account for that Ship; and
(b) all payments by the Swap Bank to the Borrowers under each Designated Transaction are paid to the Swap Account.
Payment of Earnings and Swap Payments. The Borrower undertakes with each Creditor Party to ensure that throughout the Security Period:
Payment of Earnings and Swap Payments. The Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period (and subject only to the provisions of the General Assignment to which it is a party):
(a) it shall maintain the Accounts with the Agent;
(b) all Earnings of the Ship are paid to the Earnings Account;
(c) all Minimum Liquidity and Additional Minimum Liquidity amounts required pursuant to Clause 11.19 shall be maintained in the Liquidity Account; and
(d) all payments by the Swap Bank to the Borrower under each Designated Transaction are paid to the Swap Account and at least 1 day prior to any payment required to be made under a Designated Transaction, ensure that there are sufficient funds in the Swap Account in order to be able to effect such payment.
Payment of Earnings and Swap Payments. Each Borrower undertakes with each Creditor Party to ensure, and shall procure that each of the other Owners will ensure, that throughout the Security Period:
(a) (subject only to the provisions of the General Assignment in respect of a Ship), all the Earnings of that Ship are paid to the Earnings Account relevant to that Ship; and
(b) all payments by the Swap Banks to the Borrowers under a Transaction shall be paid to the Earnings Account, and unless and until an Event of Default shall have occurred, the Owners shall be entitled to apply the Earnings in or towards meeting the costs and expenses from time to time incurred by or on behalf of the Owners in connection with the operation, chartering, trading, repair or maintenance of the Ships and for payment of dividends (to the extent permitted pursuant to the terms of this Agreement) Provided that no Event of Default will result from the payment of such dividends.
Payment of Earnings and Swap Payments. The Borrower undertakes with each Creditor Party to use all reasonable endeavours to procure that, throughout the Security Period;
(a) subject only to the provisions of the General Assignments, all the Earnings are paid to an Earnings Account; and
(b) all payments by the relevant Swap Counterparty to the Borrower under each Designated Transaction are paid to an Earnings Account.
Payment of Earnings and Swap Payments. (a) Each Guarantor shall ensure that, subject only to the provisions of the Assignment of Earnings to which it is a party, all the Earnings of the Ship owned by it are paid to its Operating Account.
(b) The Borrower shall ensure that, subject only to the provisions of any Master Agreement Assignment, all payments by the relevant Swap Counterparty to the Borrower under each Designated Transaction are paid to the Collection Account.
Payment of Earnings and Swap Payments. Each Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period (and subject only to the provisions of the relevant General Assignment) all Earnings of the Ship owned by it are paid to the Earnings Account applicable thereto. The Borrowers undertake with each Creditor Party to ensure that throughout the Security Period commencing on the date falling one month after each Drawdown Date and on the same day in each subsequent month, there is transferred to the Retention Account out of the Earnings received in the Earnings Accounts during the preceding calendar month: one-third of the amount of the Instalment in respect of the Tranche to which that Drawdown Date relates falling due under Clause 8.1 on the next Repayment Date in respect of that Tranche; and the Relevant Fraction of the aggregate amount of interest on that Tranche which is payable on the next due date for payment of interest under this Agreement.
Payment of Earnings and Swap Payments. The Borrower undertakes with the Lender to ensure that throughout the Security Period:
Payment of Earnings and Swap Payments. Each Borrower undertakes with each Creditor Party that, throughout the Security Period (and subject only to the provisions of the General Assignment and the Deed of Covenant to which it is a party):
(a) it shall maintain the Accounts with the Account Bank;
(b) it shall ensure that all Earnings of the Ship owned by it are paid to the Earnings Account for that Ship; and
(c) all Minimum Liquidity and Additional Minimum Liquidity amounts required pursuant to Clause 11.19 shall be maintained in the Liquidity Account.
