Borrower Earnings Account definition

Borrower Earnings Account means, in relation to the Ships, an account in the name of the Borrower with the Account Bank designated “Eagle Shipping – Borrower Earnings Account”;
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Borrower Earnings Account means the interest bearing Dollar account of the Borrower with the relevant Account Bank designated by the Facility Agent to be an Earnings Account for the purposes of the Security Documents in accordance with clause 14 (Accounts);
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Borrower Earnings Account means the interest bearing dollar account of the Borrower with the Account Bank designated as an “Earnings Account” under clause 26 (Bank accounts).
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Examples of Borrower Earnings Account in a sentence

  • The Borrowers shall procure that all Earnings received by them are paid to the Borrower Earnings Account.

  • The Agent shall be entitled (but not obliged) from time to time to debit the Borrower Earnings Account or any Earnings Account without prior notice in order to discharge any amount due and payable under Clause 21 or 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 21 or 22.

  • The Agent, following the written direction of the Majority Lenders, shall be entitled (but not obliged) from time to time to debit the Borrower Earnings Account or any Earnings Account without prior notice in order to discharge any amount due and payable under Clause 21 or 22 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 21 or 22.


More Definitions of Borrower Earnings Account

Borrower Earnings Account means the interest bearing dollar account of the Borrower with the Account Bank designated as an "Earnings Account" under clause 26 (Bank accounts). Break Costs means the amount (if any) specified as such in the Reference Rate Terms. Business Day means: (a) a day (other than a Saturday or Sunday) on which banks are open for general business in London, Oslo, Amsterdam, Copenhagen and New York; and (b) in relation to: (i) any date for repayment of, or payment or purchase of an amount relating to, any Ship Tranche (or any relevant part of it) or Unpaid Sum; or (ii) the determination of the first day or the last day of an Interest Period for any Ship Tranche (or any relevant part of it) or Unpaid Sum, or otherwise in relation to the determination of the length of such an Interest Period, which is an Additional Business Day relating to that Ship Tranche (or any relevant part of it) or Unpaid Sum. Central Bank Rate has the meaning given to that term in the Reference Rate Terms. Central Bank Rate Adjustment has the meaning given to that term in the Reference Rate Terms. Central Bank Rate Spread has the meaning given to that term in the Reference Rate Terms. Change of Control occurs if: (a) the Borrower ceases, at any time following its acquisition of shares in an Owner, to directly wholly own and control such Owner; (b) together GLNG and/or Quantum Pacific Shipping cease to directly or indirectly own at least 25 per cent of the entire issued share capital and voting rights (or equivalent) of the Borrower; or
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Borrower Earnings Account means the account numbered 00.000.000.000 and designated “Teekay — 5 LPG Earnings Account” held in the name of the Borrowers with the Security Trustee.
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Related to Borrower Earnings Account

  • Earnings Account means, in relation to a Ship, an account in the name of the Owner owning that Ship with the Agent in Hamburg designated “[name of relevant Owner]—Earnings Account” or any other account (with that or another office of the Agent) which replaces such account and is designated by the Agent as that Earnings Account for the purposes of this Agreement and, in the plural, means all of them;

  • Earnings Accounts means the bank accounts of each of the Obligors from time to time each of which shall be held with the Agent or any of the Agent’s corresponding banks and to which all the Earnings and any proceeds of the Insurances shall be paid.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Borrower Account has the meaning specified in Section 2.11(a)(ii).

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Earnings Account Pledge means, in respect of each Earnings Account, a first priority charge required to be executed hereunder between the relevant Borrower and the Security Trustee in respect of its Earnings Account in such form as the Agent and the Majority Lenders may require in their sole discretion, and in the plural means both of them;

  • Payoff Earnings For any Distribution Date with respect to each Mortgage Loan on which a Payoff was received by the Master Servicer during the Payoff Period, the aggregate of the interest earned by the Master Servicer from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the related Distribution Date (net of investment losses).

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class C( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Consolidated Account means an account which is a consolidation of any separate accounts of a person who is liable for payment to the Municipality.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Health Savings Account means an account as permitted under section 223 of the internal revenue code of 1986, 26 USC 223.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Holding Account means an account:

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Credit Account is modified to read “Grant Account”.

  • Borrower’s Account shall have the meaning set forth in Section 2.8.