Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default which is unremedied or unwaived, the Agent may without the consent of the Borrower block or relocate the Earnings Account to any other branch of the Agent, without prejudice to the continued application of this Clause 10 and the rights of the Finance Parties under the Finance Documents.
Appears in 2 contracts
Samples: Secured Loan Agreement (Teekay LNG Partners L.P.), Secured Loan Agreement (Teekay LNG Partners L.P.)
Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default which is unremedied or unwaivedDefault, the Agent may without the consent of the Borrower block or relocate the Earnings Account to any other branch of the AgentAccounts, without prejudice to the continued application of this Clause 10 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 2 contracts
Samples: Loan Facility Agreement (Usg Corp), Secured Loan Facility Agreement (Usg Corp)
Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default which is unremedied or unwaivedDefault, the Agent may without the consent of the Borrower block or relocate the Earnings Account Accounts to any other branch of the Agent, without prejudice to the continued application of this Clause 10 and the rights of the Finance Parties under the Finance Documents.
Appears in 2 contracts
Samples: Senior Secured Revolving Credit Facility Agreement, Senior Secured Revolving Credit Facility Agreement (Teekay Offshore Partners L.P.)
Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default which is unremedied or unwaivedDefault, the Agent may without the consent of the Borrower block or a Collateral Owner relocate any of the Earnings Account Accounts to any other branch of the Agent, without prejudice to the continued application of this Clause 10 and the rights of the Finance Parties under the Finance Documents.
Appears in 1 contract
Samples: Secured Loan Agreement (Energy Infrastructure Merger CORP)
Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default which is unremedied or unwaivedDefault, the Agent may without the consent of the Borrower block Borrowers relocate either or relocate both of the Earnings Account Accounts to any other branch of the Agent, without prejudice to the continued application of this Clause 10 and the rights of the Finance Parties Banks under or pursuant to the Finance Security Documents.
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Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default which is unremedied or unwaiveda Default, the Agent may without the consent of the Borrower block Borrowers relocate either or relocate both of the Earnings Account Accounts to any other branch of the Agent, without prejudice to the continued application of this Clause 10 and the rights of the Finance Parties under the Finance Documents.
Appears in 1 contract
Samples: Secured Loan Agreement (Poseidon Containers Holdings Corp.)
Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default which is unremedied or unwaivedDefault, the Agent may without the consent of the Borrower block or relocate either of the Earnings Account Accounts to any other branch of the Agent, without prejudice to the continued application of this Clause 10 and the rights of the Finance Parties Agent and the Banks under or pursuant to the Finance Security Documents.
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