TRANSFER TO OPERATING ACCOUNT Clause Samples
TRANSFER TO OPERATING ACCOUNT. If on any day the balance of the Debt Service Reserve Account exceeds the Required Debt Service Reserve Balance calculated on such date and if no Default shall then have occurred and be continuing, the Borrower may instruct the Project Account Bank (Offshore) to transfer such excess on such date to the Operating Account. Without prejudice to the right of any Lender Party to obtain any repayment or prepayment of any Obligation from the Project Accounts, no amounts other than amounts referred to in this clause may be disbursed from the Debt Service Reserve Account.
TRANSFER TO OPERATING ACCOUNT. Prior to Event of Default ------------------------------------------------------- and Request of the Agent that Such Transfers Cease. Amounts received -------------------------------------------------- in the Fleet Concentration Account which are determined by the Agent in its sole discretion to be good collected funds shall be transferred to the Operating Account on a daily basis, so long as neither (a) an Event of Default has occurred of which the account officers of the Agent active on the Borrowers' accounts have knowledge, nor (b) has a determination been made by the Agent that the funds contained in the Fleet Concentration Account shall be applied to the Borrower Obligations as contemplated by Section 2C.1.3 hereof or Section 2C.2 hereof. The Borrowers shall be permitted to invest funds transferred to the Operating Account pursuant to this Section 2C.1.2