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 Agent may without the consent of the Borrower relocate the Earnings 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: www.lw.com, Teekay Offshore Partners L.P.

AutoNDA by SimpleDocs

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of DefaultDefault which is unremedied or unwaived, the Agent may without the consent of the Borrower block or relocate the Earnings Accounts 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: Teekay LNG Partners L.P., Teekay LNG Partners L.P.

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default, the Agent may without the consent of the Borrower or a Collateral Owner relocate any of the Earnings 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: Loan Agreement (Energy Infrastructure Merger CORP)

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default, the Agent may without the consent of the Borrower Borrowers relocate either or both of the Earnings 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.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

AutoNDA by SimpleDocs

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of Default, the Agent may without the consent of the Borrower relocate either of the Earnings 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.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Relocation of Accounts. At any time following the occurrence and during the continuation of an Event of a Default, the Agent may without the consent of the Borrower Borrowers relocate either or both of the Earnings 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: Loan Agreement (Poseidon Containers Holdings Corp.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!