Payment of Earnings. The Borrower undertakes with each Creditor Party that, throughout the Security Period: (a) it shall, and it shall procure that each Owner will, maintain the Accounts with the Agent; and (b) it shall procure that each Owner ensures that all Earnings of the Ship owned by it (but no UHRC Earnings) are paid (subject only to the provisions of the General Assignment and any Deed of Covenant to which each Owner is a party) to the Earnings Account for that Ship.
Appears in 3 contracts
Samples: Loan Agreement (Capital Product Partners L.P.), Loan Agreement (Capital Product Partners L.P.), Deed of Amendment and Restatement (Capital Product Partners L.P.)
Payment of Earnings. The Each Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period:Period (and subject only to the provisions of the General Assignment to which it is a party):
(a) it shall, and it shall procure that each Owner will, maintain the Accounts applicable to it with the Agent; and
(b) it shall procure that each Owner ensures that all Earnings of the Ship owned by it (but no UHRC Earnings) are paid (subject only to the provisions of the General Assignment and any Deed of Covenant to which each Owner is a party) to the Earnings Account for that Ship.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Navios Maritime Partners L.P.)
Payment of Earnings. The Each Borrower undertakes with each Creditor Party that, throughout the Security Period:Period (and subject only to the provisions of the General Assignment to which it is a party):
(a) it shall, and it shall procure that each Owner will, maintain the Earnings Accounts opened in its name (whether individually or jointly) with the AgentAccount Bank; and
(b) it shall procure that each Owner ensures ensure that all Earnings of the Ship owned by it (but no UHRC Earnings) are paid (subject only to the provisions of the General Assignment and any Deed of Covenant to which each Owner is a party) to the Earnings Account for that Ship.
Appears in 2 contracts
Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)
Payment of Earnings. The Borrower undertakes with each Creditor Party that, throughout the Security Period:
(a) it shall, and it shall procure that each the Owner will, maintain the Accounts with the Agent; and
(b) it shall procure that each the Owner ensures that all Earnings of the Ship owned by it (but no UHRC Earnings) are paid (subject only to the provisions of the General Assignment and any Deed of Covenant to which each the Owner is a party) to the Earnings Account for that the Ship.
Appears in 1 contract
