Revenue Account. withdrawals 8.3.1 to pay the proper and reasonable operating expenses (including costs of insuring, repairing and maintaining the Vessel) of the Vessel, including amounts properly due to the Manager under the Management Agreement, the Supervisors under the Supervision Agreement and Mitsui under the Corporate Management Agreement, the proper and reasonable expenses of administering the affairs of the Borrower and the Taxes of the Borrower; 8.3.2 to transfer to the Dry Docking Reserve Account, first time three (3) months after the Delivery Date and at three (3) Monthly intervals thereafter up to and including the date upon which the Vessel completes each such scheduled dry docking, an amount equal to 1/ 20 of the total Dry Docking Reserve Account Payments in respect of such next scheduled dry docking; 8.3.3 to transfer to the Retention Account on the next following Retention Date all or part of the Retention Amount for such Retention Date; 8.3.4 to pay any other amounts payable under the Security Documents (including payments to the Swap Providers under any of the Swap Agreements and in case of partial payments the Swap Providers will be paid pro-rata); 8.3.5 to transfer to the Debt Service Reserve Account all or part of the DSRA Amount if any remains unpaid; and 8.3.6 to transfer any surplus to the Distribution Account unless at any relevant time a Dividend Restriction Event has occurred which is continuing unremedied or unwaived in which case any surplus shall be transferred to the Dividend Lock-Up Account, Provided that where such Dividend Restriction Event has ceased to be continuing and in circumstances where there is no Potential Event of Default or Event of Default which is continuing unremedied or unwaived such surplus may be transferred from the Dividend Lock-Up Account to the Distribution Account.
Appears in 4 contracts
Samples: Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)
