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 During the term of the Facility, no sum may be withdrawn from any of the Accounts (except in accordance with this Clause 12) without the prior written consent of the Facility Agent (acting on the instructions of the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: Credit Facility Agreement (Ocean Rig UDW Inc.), Credit Facility Agreement (Ocean Rig UDW Inc.), Credit Facility Agreement (DryShips Inc.)

AutoNDA by SimpleDocs

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 During the term of the Facility, no sum may be withdrawn from any of the Accounts Retention Account (except in accordance with this Clause 12) without the prior written consent of the Facility Agent (acting on the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: Credit Facility Agreement, Credit Facility Agreement (Seaspan CORP), Reducing Revolving Credit Facility (Seaspan CORP)

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 During the term of the Facility, no sum may be withdrawn from any of the Accounts (except in accordance with this Clause 1220) without the prior written consent of the Facility Agent (acting on the instructions of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 During the term of the Facility, Facility Period no sum may be withdrawn from any of the Accounts (except in accordance with this Clause 1210) without the prior written consent of the Facility Agent (acting on the instructions of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: Secured Loan Agreement (DHT Holdings, Inc.), Secured Loan Agreement (DHT Holdings, Inc.)

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 During the term of the Facility, no sum may be withdrawn from any of the Accounts Retention Account t (except in accordance with this Clause 12) without the prior written consent of the Facility Agent (acting on the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: Credit Facility 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 During the term of the Facility, Facility Period no sum may be withdrawn from any of the Accounts (except in accordance with this Clause 1210) without the prior written consent of the Facility Agent (acting on the instructions of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)Agent.

Appears in 1 contract

Samples: Secured Loan Agreement (NewLead Holdings Ltd.)

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 12Clause) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders)Bank.

Appears in 1 contract

Samples: Loan Facility Agreement (Excel Maritime Carriers LTD)

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

Appears in 1 contract

Samples: Secured Loan Facility Agreement (Euroseas Ltd.)

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 Lenderssuch consent not to be unreasonably withheld).

Appears in 1 contract

Samples: Secured Loan Agreement (Energy Infrastructure Merger CORP)

Restriction on withdrawal. During the term of the Facility, 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)Lender.

Appears in 1 contract

Samples: Credit Facility Agreement (Danaos 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 1217) without the prior written consent of the Facility Security Agent (acting on the instructions such consent not to be unreasonably withheld if no Event of the Majority LendersDefault has occurred). The Accounts shall not be overdrawn.

Appears in 1 contract

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

AutoNDA by SimpleDocs

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 Facility 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 1216) without the prior written consent of the Facility Security Agent (acting on the instructions such consent not to be unreasonably withheld if no Event of the Majority LendersDefault has occurred). The Accounts shall not be overdrawn.

Appears in 1 contract

Samples: Secured Term Loan Facility (DHT Holdings, 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 1210 and Clause 5.9) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders)Lender.

Appears in 1 contract

Samples: Loan Facility Agreement (DHT 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: Credit Facility Agreement (Danaos 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 1217) without the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders).

Appears in 1 contract

Samples: Secured Loan Agreement (HC2 Holdings, 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)Security Agent. The Accounts shall not be overdrawn.

Appears in 1 contract

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

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