Common use of Relocation of Accounts Clause in Contracts

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default, the Security Agent may without the consent of the Borrower instruct the Account Holder to relocate either or both of the Accounts to any other branch of the Account Holder, without prejudice to the continued application of this Clause 17 and the rights of the Finance Parties under the Finance Documents.

Appears in 2 contracts

Samples: Loan Agreement, Facility Agreement (HC2 Holdings, Inc.)

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Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of a Default, the Security Agent may without the consent of the Borrower instruct the Account Holder to Borrowers relocate either or both both/any of the Earnings Accounts to any other branch of the Account HolderSecurity Agent, without prejudice to the continued application of this Clause 17 10 and the rights of the Finance Parties under the Finance Documents.

Appears in 2 contracts

Samples: Loan Agreement (Baltic Trading LTD), Loan Agreement (Baltic Trading LTD)

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of a Default, the Security Agent may without the consent of the Borrower Collateral Owners instruct the Account Holder to relocate either any or both all of the Earnings Accounts to any other branch of the Account Holder, without prejudice to the continued application of this Clause 17 (Security Documents and Application of Moneys) and the rights of the Finance Parties under the Finance Documents.

Appears in 2 contracts

Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

Relocation of Accounts. At On and at any time following after the occurrence and during the continuation of an Event of Defaulta Default which is continuing, the Security Agent may without the consent of the Borrower Borrowers instruct the Account Holder to relocate either any or both all of the Accounts to any other branch of the Account Holder, without prejudice to the continued application of this Clause 17 and the rights of the Finance Parties under the Finance Documents.

Appears in 2 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (DHT Holdings, Inc.)

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of a Default, the Security Agent may without the consent of the Borrower Borrowers or (as the case may be) the Original Guarantor instruct the Account Holder to relocate either or both of the Accounts any Account to any other branch of the Account Holder, without prejudice to the continued application of this Clause 17 and the rights of the Finance Parties under the Finance Documents.

Appears in 1 contract

Samples: Loan Agreement (Diana Containerships Inc.)

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default, the Security Agent may without the consent of the Borrower instruct relocate the Account Holder to relocate either or both of the Accounts to any other branch of the Account HolderAccounts, without prejudice to the continued application of this Clause 17 and the rights of the Finance Parties Banks under or pursuant to the Finance Security Documents. Following the cure of any such Event of Default pursuant to which the Accounts were relocated by the Agent, the Borrower may request, but the Agent shall not be obliged, to restore the Accounts to the Account Holder.

Appears in 1 contract

Samples: Agreement (Usg Corp)

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of a Default, the Security Agent may without the consent of the Borrower Collateral Owners instruct the Account Holder to relocate either any or both all of the Earnings Accounts or the Restricted Cash Account to any other branch of the Account Holder, without prejudice to the continued application of this Clause 17 (Security Documents and Application of Moneys) and the rights of the Finance Parties under the Finance Documents.

Appears in 1 contract

Samples: Loan Agreement (Safe Bulkers, Inc.)

Relocation of Accounts. At On and at any time following after the occurrence and during the continuation of an Event of Defaulta Default which is continuing, the Security Agent may without the consent of the Borrower instruct the Account Holder to relocate either any or both all of the Accounts to any other branch of the Account Holder, without prejudice to the continued application of this Clause 17 16 and the rights of the Finance Parties under the Finance Documents.

Appears in 1 contract

Samples: Amending and Restating Agreement (DHT Holdings, Inc.)

Relocation of Accounts. At On and at any time following the occurrence and during the continuation of an Event of DefaultDefault is continuing, the Security Agent may without the consent of the Borrower Borrowers instruct the Account Holder Bank to relocate either or both of the Accounts to any other branch of the Account HolderBank, without prejudice to the continued application of this Clause 17 and the rights of the Finance Parties under the Finance Documents.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

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Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default, the Security Agent may without the consent of the Borrower instruct relocate the Account Holder to relocate either or both of the Accounts to any other branch of the Account HolderAccounts, without prejudice to the continued application of this Clause 17 and the rights of the Finance Parties Banks under or pursuant to the Finance Security Documents. Following the cure of any such Event of Default pursuant to which the Accounts were relocated by the Agent, 50 the Borrower may request, but the Agent shall not be obliged, to restore the Accounts to the Account Holder.

Appears in 1 contract

Samples: Agreement (Usg Corp)

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default, the Security Agent may without the consent of the Borrower instruct the Account Holder to relocate either or both of the Accounts to any other branch of the Account Holder, without prejudice to the continued application of this Clause 17 10 and the rights of the Finance Parties under the Finance Documents.

Appears in 1 contract

Samples: Poseidon Containers Holdings Corp.

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of a Default, the Security Agent may without the consent of the Borrower Borrowers or (as the case may be) the Guarantor instruct the Account Holder to relocate either or both of the Accounts any Account to any other branch of the Account Holder, without prejudice to the continued application of this Clause 17 and the rights of the Finance Parties under the Finance Documents.

Appears in 1 contract

Samples: Diana Containerships Inc.

Relocation of Accounts. At On and at any time following after the occurrence and during the continuation of an Event of Defaulta Default which is continuing, the Security Agent may without the consent of the Borrower Borrowers instruct the Account Holder to relocate either or both of the Accounts to any other branch of the Account Holder, without prejudice to the continued application of this Clause 17 and the rights of the Finance Parties under the Finance Documents.

Appears in 1 contract

Samples: Secured Loan Agreement (Genco Shipping & Trading LTD)

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of a Default, the Security Agent may without the consent of the Borrower Collateral Owners instruct the Account Holder to relocate either any or both all of the Earnings Accounts to any other branch of the Account Holder, without prejudice to the continued application of this Clause 17 and the rights of the Finance Parties under the Finance Documents.

Appears in 1 contract

Samples: Safe Bulkers, Inc.

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