Common use of Transfers to Retention Account Clause in Contracts

Transfers to Retention Account. The Borrower undertakes with each Creditor Party to ensure that in each calendar month of the Security Period commencing on the date falling 1 month after the Effective Date and on the same day in each subsequent calendar month there is transferred to the Retention Account out of the Earnings of that Ship received in the relevant Earnings Account during the preceding calendar month:

Transfers to Retention Account. The Borrower undertakes with each Creditor Party to ensure that in each calendar month of the Security Period commencing on the date falling 1 month after the Effective first Drawdown Date and on the same day in each subsequent calendar month month, there is transferred to the Retention Account out of the aggregate Earnings of that Ship received in the relevant Earnings Account Accounts during the preceding calendar month:

Transfers to Retention Account. The Borrower undertakes with each Creditor Party to ensure that in each calendar month of the Security Period commencing on the date falling 1 month after the Effective Date 16 November 2010 and on the same day in each subsequent calendar month month, there is transferred to the Retention Account out of the aggregate Earnings of that Ship received in the relevant Earnings Account Accounts during the preceding calendar month: