Common use of Restriction on withdrawal Clause in Contracts

Restriction on withdrawal. During the term of the Facility, no sum may be withdrawn from any of the Accounts (except in accordance with this Clause 12) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders).

Appears in 7 contracts

Samples: Agreement (Ocean Rig UDW Inc.), Agreement (Ocean Rig UDW Inc.), Agreement (DryShips Inc.)

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Restriction on withdrawal. During the term of the Facility, no sum may be withdrawn from any of the Accounts Retention Account (except in accordance with this Clause 12) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders).

Appears in 6 contracts

Samples: Agreement, Agreement (Seaspan CORP), Agreement (Seaspan CORP)

Restriction on withdrawal. During the term of the Facility, Facility Period no sum may be withdrawn from any of the Accounts (except in accordance with this Clause 1210) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders)such consent not to be unreasonably withheld or delayed.

Appears in 2 contracts

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

Restriction on withdrawal. During the term of the Facility, no sum may be withdrawn from any of the Accounts (except in accordance with this Clause 1220) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders).

Appears in 2 contracts

Samples: Facility Agreement (Ocean Rig UDW Inc.), Facility Agreement (DryShips Inc.)

Restriction on withdrawal. During the term of the Facility, Facility Period no sum may be withdrawn from any of the Accounts (except in accordance with this Clause 1217) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders).

Appears in 1 contract

Samples: Facility Agreement (HC2 Holdings, Inc.)

Restriction on withdrawal. During the term of the Facility, no sum may be withdrawn from any of the Earnings Accounts or the Retention Accounts (except in accordance with this Clause 12) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders).

Appears in 1 contract

Samples: Agreement (Danaos Corp)

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Restriction on withdrawal. During the term of the Facility, Facility Period no sum may be withdrawn from any of the Accounts (except in accordance with this Clause 1210) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders)Agent.

Appears in 1 contract

Samples: Loan Agreement (NewLead Holdings Ltd.)

Restriction on withdrawal. During the term of the Facility, no sum may be withdrawn from any of the Retention Accounts (except in accordance with this Clause 12) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders).

Appears in 1 contract

Samples: Credit Agreement (Seaspan CORP)

Restriction on withdrawal. During the term of the Facility, no sum may be withdrawn from any of the Accounts Retention Account t (except in accordance with this Clause 12) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders).

Appears in 1 contract

Samples: Agreement (Seaspan CORP)

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