Shortfall in Earnings. (a) If the credit balance on the Earnings Account is insufficient in any calendar month for the required amount to be transferred to the Retention Account under Clause 26.4 (Monthly retentions), the Borrower shall make up the amount of the insufficiency on demand from the Facility Agent.
Appears in 2 contracts
Samples: Assignment Agreement (Grindrod Shipping Holdings Ltd.), Facility Agreement (Grindrod Shipping Holdings Pte. Ltd.)
Shortfall in Earnings. (a) If the credit balance on the Earnings Account Accounts is insufficient in any calendar month for the required amount to be transferred to the Retention Account under Clause 26.4 (Monthly retentions), 27.4(a) the Borrower Borrowers shall make up the amount of the insufficiency on demand from the Facility Agent.
Appears in 2 contracts
Samples: Banks and Financial Institutions (Okeanis Eco Tankers Corp.), Banks and Financial Institutions (Okeanis Eco Tankers Corp.)
Shortfall in Earnings. (a) If the credit balance on the an Earnings Account is insufficient in any calendar month for the required amount to be transferred to the Retention Account under Clause 26.4 28.4 (Monthly retentions), the Borrower Borrowers shall make up the amount of the insufficiency on demand from the Facility Agent.. 105
Appears in 1 contract
Shortfall in Earnings. (a) If the credit balance on the Earnings an Operating Account is insufficient in any calendar month for the required amount in relation to the applicable Advance to be transferred to the applicable Retention Account under Clause 26.4 (Monthly retentions), 18.2 the Borrower Borrowers shall make up the amount of the insufficiency on demand from the Facility Agent.
Appears in 1 contract
Shortfall in Earnings. (a) If the credit balance on the Earnings Account is insufficient in any calendar month for the required amount to be transferred to the Retention Debt Service Reserve Account under Clause 26.4 25.3 (Monthly retentions), the Borrower shall make up the amount of the insufficiency on demand from the Facility Agent.
Appears in 1 contract