Common use of The Account Holder’s confirmation Clause in Contracts

The Account Holder’s confirmation. The written confirmation of the Account Holder that the Earnings Account has been opened with the Account Holder and to its actual knowledge is free from Encumbrances and rights of set off other than as created by or pursuant to the Security Documents.

Appears in 2 contracts

Samples: Loan Agreement (Baltic Trading LTD), Loan Agreement (Baltic Trading LTD)

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The Account Holder’s confirmation. The written confirmation of the Account Holder that the Earnings Account has Accounts have been opened with the Account Holder and to its actual knowledge is are free from Encumbrances and rights of set off other than as created by or pursuant to the Security Documents.

Appears in 2 contracts

Samples: Loan Agreement (Baltic Trading LTD), Loan Agreement (Baltic Trading LTD)

The Account Holder’s confirmation. The written confirmation of the Account Holder that (i) the Earnings Account has Accounts have been opened with the Account Holder and Holder, (ii) to its actual knowledge is the Accounts are free from Encumbrances and rights of set off other than as created by or pursuant to the Security DocumentsDocuments and (iii) the Earnings Account has been credited with an amount not less than the Working Capital Amount.

Appears in 2 contracts

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

The Account Holder’s confirmation. The written confirmation of the Account Holder that the Earnings Account has Accounts have been opened with the Account Holder and to its actual knowledge is are free from Encumbrances and rights of set off other than as created by or pursuant to the Security Documents.

Appears in 1 contract

Samples: Poseidon Containers Holdings Corp.

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The Account Holder’s confirmation. The written confirmation of the Account Holder that the Earnings Account has Accounts have been opened with the Account Holder and to its actual knowledge is are, and will remain throughout the Facility Period, free from Encumbrances and rights of set off other than as created by or pursuant to the Security Documents.

Appears in 1 contract

Samples: Loan Agreement (NewLead Holdings Ltd.)

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