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.
Appears in 5 contracts
Samples: Loan Agreement, Loan Agreement (Dynagas LNG Partners LP), Loan Agreement (Dynagas LNG Partners LP)
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), Assignments):
(a) all the 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 any Borrower under each Designated Transaction are paid to the Earnings Account of that Borrower.
Appears in 4 contracts
Samples: Amending and Restating Deed, Amending and Restating Deed (Global Ship Lease, Inc.), Loan Agreement (Global Ship Lease, Inc.)
Payment of Earnings and Swap Payments. Each The Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period (and subject only to the provisions of the relevant General Assignment applicable to its ShipAssignments), all the Earnings of the each Ship owned by it are paid to the Earnings Account of for that BorrowerShip.
Appears in 2 contracts
Samples: Amending and Restating Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)
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), Assignments):
(a) all the Earnings of the Ship owned by it are paid to the Earnings Operating Account for that Ship; and
(b) all payments by the Swap Bank to any Borrower under each Designated Transaction are paid to the Operating Account of that Borrower.
Appears in 2 contracts
Samples: Amending and Restating Agreement (Box Ships Inc.), Loan Agreement (Box Ships Inc.)
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), Assignments):
(a) all the Earnings of the Ship owned by it are paid to the Earnings Operating Account for that Ship; and
(b) all payments by the a Swap Bank to any Borrower under each Designated Transaction are paid to the Operating Account of that Borrower.
Appears in 1 contract
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 ShipAssignment), all the Earnings of the Ship owned by it are paid to the Earnings Account of for that BorrowerShip, and all payments by the Swap Banks to the Borrowers under each Designated Transaction are paid to an Earnings Account.
Appears in 1 contract
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 applicable to its Ship), Assignment) all the Earnings of the Ship owned by it are paid to the Earnings Account of that Borrowerapplicable thereto.
Appears in 1 contract
