Common use of Remittance of Earnings Immediately Clause in Contracts

Remittance of Earnings Immediately. upon the occurrence of an Event of Default, the Borrower shall procure that all Earnings are paid to such account(s) as the Agent shall from time to time specify by notice in writing to the Borrower.

Appears in 5 contracts

Samples: Deed of Amendment and Restatement (Stolt Offshore S A), Loan Agreement (Stolt Nielsen S A), Loan Agreement (Stolt Comex Seaway S A)

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Remittance of Earnings Immediately. upon the occurrence of an Event of Default, Default the Borrower shall procure that all Earnings are paid to such account(s) as the Agent shall from time to time specify by notice in writing to the Borrower.

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement (Teekay Shipping Corp), Loan Agreement (Teekay Offshore Partners L.P.)

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