Sharing of Earnings. The Borrower shall procure that no Owner shall: (a) enter into any agreement or arrangement for the sharing of any Earnings; (b) enter into any agreement or arrangement for the postponement of any date on which any Earnings are due; the reduction of the amount of any Earnings or otherwise for the release or adverse alteration of any right of that Owner to any Earnings; or (c) enter into any agreement or arrangement for the release of, or adverse alteration to, any guarantee or Security Interest relating to any Earnings.
Appears in 34 contracts
Samples: Loan Agreement, Loan Agreement, Loan Agreement (Box Ships Inc.)
Sharing of Earnings. The Borrower shall procure that no the Owner shallshall not:
(a) enter into any agreement or arrangement for the sharing of any Earnings;
(b) enter into any agreement or arrangement for the postponement of any date on which any Earnings are due; the reduction of the amount of any Earnings or otherwise for the release or adverse alteration of any right of that the Owner to any Earnings; or
(c) enter into any agreement or arrangement for the release of, or adverse alteration to, any guarantee or Security Interest relating to any Earnings.
Appears in 12 contracts
Samples: Loan Agreement, Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Box Ships Inc.)
Sharing of Earnings. The Borrower shall procure that no neither Owner shall:
(a) enter into any agreement or arrangement for the sharing of any Earnings;
(b) enter into any agreement or arrangement for the postponement of any date on which any Earnings are due; the reduction of the amount of any Earnings or otherwise for the release or adverse alteration of any right of that Owner to any Earnings; or
(c) enter into any agreement or arrangement for the release of, or adverse alteration to, any guarantee or Security Interest relating to any Earnings.
Appears in 6 contracts
Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp)
Sharing of Earnings. The Borrower shall procure that no Owner shall, save as permitted under the terms of this Agreement or the Associated Loan Agreements:
(a) enter into any agreement or arrangement for the sharing of any Earnings;Earnings save for any pool agreements or arrangements under normal commercial terms; or
(b) enter into any agreement or arrangement for the postponement of any date on which any Earnings are due; the reduction of the amount of any Earnings or otherwise for the release or adverse alteration of any right of that the Owner to any Earnings; or
(c) enter into any agreement or arrangement for the release of, or adverse alteration to, any guarantee or Security Interest relating to any Earnings.
Appears in 2 contracts
Samples: Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Acquisition CORP)
Sharing of Earnings. The Borrower shall procure that no Owner shall:
(a) enter into any agreement or arrangement for the sharing of any Earnings;
(b) enter into any agreement or arrangement for the postponement of any date on which any Earnings are due; due or the reduction of the amount of any Earnings or otherwise for the release or adverse alteration of any right of that Owner to any Earnings; or
(c) enter into any agreement or arrangement for the release of, or adverse alteration to, any guarantee or Security Interest relating to any Earnings.
Appears in 1 contract