Common use of Payment of Earnings and Swap Payments Clause in Contracts

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. 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; and (c) all payments by the Borrowers to the Swap Bank under each Designated Transaction are paid through the Swap 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 Deeds of Covenant or General Assignment to which it is a partyAssignments (as the case may be)): (a) all the Earnings of the Ship owned by it are paid to the Earnings Account for that ShipAccount; and (b) all payments by the Swap Bank to the Borrowers under each Designated designated Transaction are paid to the Swap Retention Account.

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 General Assignment to which it is a party): (aAssignment) all the Earnings of the Ship owned by it Ship, Requisition Compensation and proceeds of any insurances are paid to the Earnings Account for that Ship; and (b) Account, and all payments by the Swap Bank to the Borrowers Borrower under each Designated Transaction are paid to the Swap Earnings 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 General Assignment to which it is a partyAssignments): (a) all 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 the Borrowers either Borrower under each Designated Transaction are paid to the Swap AccountOperating 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) it shall maintain the Earnings Accounts with the Agent; and (b) 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. Each The Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period Period: (and a) (subject only to the provisions of the General Assignment to which it is a party): (a) Assignment), all the Earnings of the Ship owned by it are paid to the Earnings Account for that ShipAccount; and (b) all payments by the Swap Bank to the Borrowers Borrower under each Designated Transaction are paid to the Swap Earnings Account.

Payment of Earnings and Swap Payments. Each The Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period Period: (and a) subject only to the provisions of the General Assignment to which it is a party): (a) Assignments, all the Earnings of the each Ship owned by it are paid to the Earnings Account for of the Owner of that Ship; and (b) all payments by the each Swap Bank to the Borrowers Borrower under each Designated Secured Transaction are paid to the Swap Borrower 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 General Assignment to which it is a party): (a) all 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 the Borrowers either Borrower under each Designated Transaction are paid to the Swap AccountOperating Account of that Borrower.

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 General Assignment to which it is a partyAssignment): (a) all the Earnings of the in relation to a Ship owned by it are paid to the Earnings Operating Account for that Ship; and (b) all payments by the a Swap Bank to the Borrowers Borrower under each Designated Transaction are paid to the Swap Retention Account.

Payment of Earnings and Swap Payments. Each Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period Period: (and a) (subject only to the provisions of the General Assignment to which it is a party): (aAssignments) all the Earnings of the each Ship owned by it are paid to the Earnings Account for in the name of that ShipBorrower; and (b) all payments by the Swap Bank to the Borrowers under each Designated Permitted Transaction are paid to the Swap AccountRetention Accounts.