Suspense account. Any money received in connection with this Deed (whether before or after any Incapacity of the Owner or the Charterer) which would (but for this Deed) have been payable to the Charterer may, if an Event of Default has happened, be placed to the credit of a suspense account with a view to preserving the rights of the Mortgagee to prove for the whole of its and the other Creditors' claims against the Owner or any other person liable or may be applied in or towards satisfaction of the Outstanding Indebtedness.
Appears in 4 contracts
Samples: Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.)
Suspense account. Any money moneys received in connection with this Deed (whether before or after any Incapacity of the Owner or the Charterer) which would (but for this Deed) have been payable to the Charterer may, if an Event of Default has happened, be placed to the credit of a suspense account with a view to preserving the rights of the Mortgagee to prove for the whole of its and the other Creditors' claims against the Owner Owner, the other Borrowers or any other person liable or may be applied in or towards satisfaction of the Outstanding Indebtedness.
Appears in 3 contracts
Samples: Second Priority Quadripartite Deed (Top Tankers Inc.), Second Priority Quadripartite Deed (Top Tankers Inc.), Second Priority Quadripartite Deed (Top Tankers Inc.)
Suspense account. Any money received in connection with this Deed (whether before or after any Incapacity of the Owner or the Charterer) which would (but for this Deed) have been payable to the Charterer may, if an Event of Default has happened, be placed to the credit of a suspense account with a view to preserving the rights of the Mortgagee Security Agent and the other Finance Parties to prove for the whole of its and the other Creditors' claims against the Owner or any other person liable or may be applied in or towards satisfaction of the Outstanding Indebtedness.
Appears in 3 contracts
Samples: Tripartite Deed of Covenant (DryShips Inc.), Tripartite Deed of Covenant (DryShips Inc.), Tripartite Deed of Covenant (DryShips Inc.)
Suspense account. Any money received in connection with this Deed (whether before or after any Incapacity of the Owner or the Charterer) which would (but for this Deed) have been payable to the Charterer may, if an Event of Default has happened, be placed to the credit of a suspense account with a view to preserving the rights of the Mortgagee to prove for the whole of its and the other Creditors' claims against the Owner or any other person liable or may be applied in or towards satisfaction of the Outstanding Charterer's Guarantee Indebtedness.
Appears in 1 contract
Samples: Second Supplemental Agreement (Aegean Marine Petroleum Network Inc.)
Suspense account. Any money moneys received in connection with this Deed (whether before or after any Incapacity Incupacity of the Owner or the Charterer) which would (but for this Deed) have been payable to the Charterer may, if an Event of Default has happened, be placed to the credit of a suspense account with a view to preserving the rights of the Mortgagee to prove for the whole of its and the other Creditors' claims against the Owner Owner, the other Borrowers or any other person liable or may be applied in or towards satisfaction of the Outstanding Indebtedness.
Appears in 1 contract
Samples: Second Priority Quadripartite Deed (Top Tankers Inc.)
